Wipro Deal Value Falls 23% as Revenue Recovery Stays Slow
Wipro’s September-quarter deal value dropped, while the company forecast a wide range for December-quarter constant-currency revenue.
Key takeaways
- Wipro’s new-deal contract value fell 23% sequentially to $2.6 billion.
- The company forecast December-quarter constant-currency revenue ranging from a 1.5% decline to 0.5% growth.
Wipro’s new-deal contract value fell 23% sequentially to $2.6 billion in the September quarter, while dollar-denominated revenue declined for a second straight quarter.
The company expects constant-currency revenue in the December quarter to range from a 1.5% sequential decline to 0.5% growth. Management said it had seen no material change in demand from the previous quarter.
Operating margin rose 50 basis points sequentially to 16.5%. Wipro said it expects further improvement, with a medium-term target range of 17% to 17.5%.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
