Wipro Q1 Result 2023, Profit down by 21% Rs 2563 Cr

Wipro Q1 Result 2023, Profit fall by 21% Rs 2563 Cr.

Wipro Q1 Result 2023, Profit down by 21% Rs 2563 Cr

Wipro Q1 Result 2023

4th largest it company in india. Wipro Q1 results: Net profit falls 21% to Rs 2,564 cr as expenses rise.

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Results for the Quarter ended June 30, 2022 under IFRS

Highlights of the Results
Results for the Quarter ended June 30, 2022:

• Gross Revenue was ₹215.3 billion ($2.7 billion1), an increase of 17.9% YoY
• IT Services Segment Revenue was at $2,735.5 million, an increase of 13.3% YoY
• Non-GAAP2 constant currency IT Services segment revenue increased by 2.1% QoQ and 17.2% YoY
• IT Services Operating Margin3 for the quarter was at 15.0%, a decrease of 200 bps QoQ
• Net Income for the quarter was ₹25.6 billion ($324.4 million1) and Earnings Per Share for the
• quarter was at ₹4.69 ($0.061)
• Our closing strength of employees for IT Services was at 258,574, an increase of 15,446 QoQ

Performance for the Quarter ended June 30, 2022

Thierry Delaporte, CEO and Managing Director said, “We have made significant investments
in Wipro’s growth engine and are very pleased with the outcomes. Our order bookings grew 32%
YoY in Total Contract Value terms, powered by large transformational deals, and our pipeline
today is at an all-time high. We continue to reinforce the investments that allow us to grow our
business, remain agile in the market and efficient as an organization, while staying focused on
serving our clients even better.”

Outlook for the quarter ending September 30, 2022

We expect Revenue from our IT Services business to be in the range of $2,817 million to $2,872
million*. This translates to a sequential growth of 3.0% to 5.0%.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and
consulting company focused on building innovative solutions that address clients’ most complex
digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design,
engineering, and operations, we help clients realize their boldest ambitions and build future-ready,
sustainable businesses. With over 240,000 employees and business partners across 66
countries, we deliver on the promise of helping our customers, colleagues, and communities thrive
in an ever-changing world. For additional information, visit us at www.wipro.com

IT Services

Wipro continued its momentum in winning large deals with our customers as described below:

 A large, US-based healthcare company has selected Wipro for the consolidation and
transformation of its Commercial Claims Operations. This strategic partnership will provide
the client with significant savings through best-in-class execution, transformation, process
remodelling, and automation.

 The global leader in sustainable stainless steel, Outokumpu, has signed a five-year deal of
Application Management Services with Wipro to drive agile and application cloud
transformation.

 Wipro has entered a five-year engagement with Insignia Financial Limited, an ASX-listed Top
200 company and one of Australia’s leading financial services providers. Through this
partnership, Wipro and Insignia Financial will focus on delivering innovative solutions,
including efficient processes around technology and operations capabilities, superior endcustomer outcomes as well as cost optimization.

 Wipro has won a multi-year engagement with a global communications agency to build their
future model for ERP and digitization. Wipro’s delivery centres in UK and India will build and
scale operations to enhance the company’s capacity.

 Wipro has won a multi-year contract with one of Australia’s largest financial services firms to
provide application and infrastructure support services. Wipro will support the client’s
technology transformation, improve efficiency and enhance customer experience.