Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹22,205 Cr
verified against source
Revenue YoY
27.5%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Wipro delivered a strong Q3 FY24 with constant currency revenue growth of 3% QoQ and 27.5% YoY, driven by broad-based demand across markets and service lines. Operating margin of 17.6% exceeded the guided range, reflecting operational discipline despite wage hikes. Total contract value bookings reached $2.85 billion ACV, with a 50% YoY increase in $10M-$30M deal wins, indicating robust pipeline conversion. Management guided Q4 revenue growth of 2%-4% CC, implying full-year growth of 27%-28%. Key growth drivers include cloud, digital, and engineering services, with Europe growing 38% YoY. Attrition is stabilizing and expected to moderate in Q4. Risk: supply-side pressure from elevated attrition and wage inflation could constrain growth if demand accelerates further.
Colored figures show movement against the previous available record.
Guidance to track
- Management guided sequential constant currency revenue growth of 2%-4% for Q4 FY24.
- Implied full-year growth of 27%-28% based on Q4 guidance.
- Planned to hire 30,000 freshers in FY23, up from 17,500 in FY22.
- Management expects attrition to stabilize and moderate in the next quarter.
Risks flagged
- Attrition remains high, especially in high-growth areas like cloud and data, with 3-8 year experience band most affected.
- Multiple salary hikes and promotions in the last 12 months could pressure margins if not offset by productivity gains.
- Rapid M&A activity may pose integration challenges, though management claims strong PMI processes.
- New wave of COVID-19 led to office closures and could impact employee productivity and client engagements.
Key quotes
- Our revenue growth during the quarter was at 3% in constant currency terms and 27.5% year-over-year.
- Our win rate has expanded 300 basis points.
- We have guided for a revenue growth of 2%-4%, which will translate into a full-year growth of 27%-28% year-on-year.
Research modules