Conference Call with Wipro Ltd. Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company Wipro announced Q2FY25 results Gross revenue was at Rs 223.0 billion (USD 2,662.6 million), an increase of 1.5% QoQ and decrease of 1.0% YoY. IT services segment revenue was at USD 2,660.1 million, an increase of 1.3% QoQ and decrease of 2.0% YoY. Non-GAAP constant currency IT Services segment revenue increased 0.6% QoQ and decreased 2.3% YoY. Total bookings was at USD 3,561 million. Large deal bookings was at USD 1,489 million, an increase of 28.8% QoQ and 16.8% YoY in constant currency . IT services operating margin for the quarter was at 16.8%, an increase of 0.3% QoQ and 0.7% YoY. Net income for the quarter was at Rs 32.1 billion (USD 383.1 million), an increase of 6.8% QoQ and 21.3% YoY. Earnings per share for the quarter was at Rs 6.14 (USD 0.07), an increase of 6.8% QoQ and 21.3% YoY. Operating cash flows of Rs 42.7 billion (USD 509.7 million), an increase of 10.5% YoY and at 132.3% of Net Income for the quarter. Voluntary attrition was at 14.5% on a trailing 12-month basis. Wipro’s Board of Directors recommended issue of bonus shares to shareholders (including stock dividend to ADS holders) in the ratio of 1:1 (1 equity share for every 1 equity share held), subject to approval of shareholders. Srini Pallia, CEO and Managing Director, said: “Based on strong execution in Q2, we met our expectations for revenue growth, bookings, and margins. We continued to expand our top accounts, large deal bookings surpassed USD 1 bilion once again, and Capco maintained its momentum for another consecutive quarter. We grew in three out of four markets, as well as, in BFSI, Consumer and Technology and Communications sectors. We will continue to invest in our clients, our strategic priorities, and building a strong AI powered Wipro” Aparna Iyer, Chief Financial Officer, said: “I am pleased with our performance across all parameters including Revenue, Bookings, Operating margin, cash flow and EPS. On the back of operational improvements, we further expanded our margins by 35 basis points and our EPS grew 6.8% QoQ. Our operating cash flow continues to be robust at 132.3% of net income in Q2. As a result, cumulatively in the first half of this year we generated nearly USD 1 billion in operating cash flow.” Result PDF