Wipro Logs Best Ever Q1 With Rs 3230 Crore
- ByAyushi Ray | July 16, 2021
Bangalore based company Wipro logs best ever Q1 with Rs 3230 crore. Wipro chief executive Thierry Delaporte is steering a turnaround of the software services provider that has lagged behind its rivals for much of the past decade. His are being pushed forward by a global embrace of digital technologies. Wipro’s dollar revenue grew 12.2% to $2.41 billion from the preceding March quarter on the back of eight large deal wins worth a total contract value of $715 million. This was the company’s fastest sequential growth in 38 quarters, surpassing its own quarterly forecast of 2-4%, excluding the acquisitions of Capco and Ampion.
Wipro expects revenue for the second quarter to be in the range of $2.53-2.58 billion, translating to a sequential growth of 5-7%. Unlike Infosys, which provides full-year forecasts, Wipro typically guides for the quarter ahead. However, Delaporte said Wipro is “well ahead of double-digit growth for the full year”.The operating margin for the June quarter, however, narrowed to 18.8% from 21% in the preceding three months because of high costs related to attrition and hiring. Voluntary attrition rose to 15.5%. Wipro said it continues with its talent retention measures and will be offering salary hikes to 80% of its employees in September.
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