Wipro has reported a net income of INR30bn ($360.4m) for the first quarter of the fiscal year 2025 (Q1 FY25), an increase of 5.9% compared to INR28.7bn ($340m) for the same quarter of the previous fiscal year.
In the previous quarter, that is Q4 FY24, the Indian technology services and consulting company posted a net income of $28.3bn ($341m).
Wipro’s diluted earnings per share (EPS) in the reported first quarter ended 30 June 2024 were INR5.73 ($0.068), an increase of 12%, compared to INR5.12 ($0.061) reported in the same quarter of FY2024.
The company’s gross revenue for Q1 FY25 was down by 3.8% to INR219.6bn ($2.63bn), compared to INR228.3bn ($2.73bn) in Q1 FY24. In Q4 FY24, Wipro’s revenues were INR222.1bn ($2.65bn).
Wipro CEO and managing director Srini Pallia said: “We recorded another quarter of total large deal bookings over $1bn, with our largest win in the recent years. Our top accounts continued to grow, accompanied by a growth in Americas1 SMU, BFSI and Consumer sectors.
“We are pleased with the momentum we have built in Q1 across industries and sectors and confident in our ability to execute better on bookings and profitable growth as we transition to Q2. While we continue to build on our ai360 strategy and preparing our workforce for an AI-first future.”
Wipro’s IT services segment posted a net revenue of INR219.4bn ($2.62bn) in the reported quarter, a 4% decrease compared to INR228.24bn ($2.73bn) in the corresponding quarter of the previous fiscal year.
The Indian company’s IT services business primarily includes IT services offerings to customers organised by four strategic market units (SMUs). These include Americas 1, Americas 2, Europe, and Asia Pacific Middle East and Africa (APMEA).
For Q2 FY25 ending 30 September 2024, Wipro projects revenue of $2.6bn-$2.65bn from its IT services business segment.
