Promises
2 promises
Promise Tracker
0 delivered, 0 close, 2 missed.
View Promises →Wipro Limited — Q1 FY25
Wipro's Q1 FY25 IT services revenue declined 1% QoQ in constant currency to $2.63 billion, within guided range but at the lower end.
neutral
medium
✓ Verified against BSE filing
2-Minute Summary
✦ AI-Generated from Full Transcript
Wipro's Q1 FY25 IT services revenue declined 1% QoQ in constant currency to $2.63 billion, within guided range but at the lower end. Operating margin improved 10bps QoQ to 16.5%, driven by operational rigor. BFSI and consumer showed sequential growth, while energy & utilities and manufacturing were weak. Large deal TCV was $1.2 billion with 10 wins, including a net-new telecom deal. Management guided Q2 revenue change of -1% to +1% QoQ in constant currency, expressing slightly more confidence than last quarter. Margins expected to remain in a narrow band with upward bias. Key risk: continued softness in Europe and APMEA, and delayed ramp-up of large deals.
विप्रो की पहली तिमाही (Q1 FY25) में आईटी सेवाओं से कमाई पिछली तिमाही की तुलना में 1% घटकर 2.63 अरब डॉलर रही। यह कंपनी के अनुमान के मुताबिक था, लेकिन कम सीमा पर। मुनाफा बढ़ाने की कोशिशों से परिचालन मार्जिन (कमाई पर खर्च का हिस्सा) 0.10% बढ़कर 16.5% हो गया। बैंकिंग और उपभोक्ता कारोबार में बढ़त हुई, जबकि ऊर्जा और मैन्युफैक्चरिंग कमजोर रहे। कंपनी ने 1.2 अरब डॉलर के बड़े सौदे जीते, जिसमें एक नया टेलीकॉम डील भी शामिल है। अगली तिमाही में कमाई में 1% घटने से 1% बढ़ने का अनुमान है। मार्जिन स्थिर रहने की उम्मीद है। मुख्य जोखिम: यूरोप और एशिया-प्रशांत में कमजोरी और बड़े सौदों में देरी।
Promises0 met · 2 missedRisks4 trackedTranscriptfull text
Research workspace
Focused Modules
Risks
4 risks
Risk Intelligence
Softness in Europe and APMEA
View Risks →
Transcript
Full text
Call Transcript
Full transcript text is available on this route.
Read Transcript →Quarter Snapshot
IT Services Revenue (USD)
$2.63B
-1% QoQ CC
IT services revenue for Q1 FY25, within guided range of -1% to +1% QoQ.
Large Deal TCV
$1.2B
Flat QoQ
Total contract value of large deals signed in Q1, consistent with prior quarter.
Total Bookings TCV
$3.3B
N/A
Total bookings TCV for Q1, indicating healthy deal pipeline.
Capco Sequential Growth
3.4%
+3.4% QoQ
Capco consulting business grew 3.4% sequentially, showing continued momentum.
What Changed vs Last Quarter
NEW
Margins to remain in narrow band with upward bias
Management expects operating margins to sustain within a narrow band with an upward bias in coming quarters.
UPDATED
Q2 FY25 Revenue Guidance: -1% to +1% QoQ CC
Management expects IT services revenue to change between -1% and +1% sequentially in constant currency for Q2 FY25.
DROPPED
Margins expected to remain range-bound
Management expects margins to stay within a narrow band similar to recent quarters, with no specific target provided.
NEW RISK
Softness in Europe and APMEA
Europe and APMEA markets declined sequentially, with Europe pipeline healthy but conversion weak; APMEA strategy under review.
NEW RISK
Delayed ramp-up of large deals
Large deals signed in Q1 may take several quarters to fully ramp, limiting near-term revenue upside.
NEW RISK
Energy & Utilities weakness
E&U vertical declined 6.3% sequentially due to end of large programs; recovery dependent on pipeline conversion.
NEW RISK
Competitive intensity from GenAI pricing
Some competitors offering large productivity gains to clients via GenAI, potentially pressuring pricing.
RISK GONE
Weak discretionary spending environment
Persistent macroeconomic uncertainty continues to weigh on discretionary IT spending, leading to slower conversion of order book to revenue and muted near-term growth.
RISK GONE
Conversion of large deal wins to revenue
Despite strong large deal bookings, revenue conversion is hampered by ramp-downs and slower project starts, as highlighted by CFO Aparna Iyer in response to analyst questions.
RISK GONE
Headcount decline and potential growth constraints
Headcount declined ~10% YoY with utilization at 84.8%. While management cites ability to ramp up, rapid demand recovery could strain capacity.
🤫 Topics management stopped discussing
Mentioned in Q1 FY24, Q2 FY24, Q3 FY24
Management guided sequential constant currency revenue growth of 2%-4% for Q4 FY24.
Mentioned in Q1 FY24, Q2 FY24, Q4 FY24
Management expects margins to stay within a narrow band similar to recent quarters, with no specific target provided.
Mentioned in Q2 FY24, Q4 FY24
Despite strong large deal bookings, revenue conversion is hampered by ramp-downs and slower project starts, as highlighted by CFO Aparna Iyer in response to analyst questions.
Fast read
Guidance and risk preview
Management expects IT services revenue to change between -1% and +1% sequentially in constant currency for Q2 FY25.
Europe and APMEA markets declined sequentially, with Europe pipeline healthy but conversion weak; APMEA strategy under review.
View Risks →