“We closed FY25 with two mega deal wins, an increase in large deal bookings, and growth in our top accounts.-Srini Pallia, CEO & MD,Wipro Limited

EAST BRUNSWICK, N.J. | BANGALORE, India – Apr 16, 2025: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter and year ended March 31, 2025.

Highlights of the Results

Results for the Quarter ended March 31, 2025:

1. Gross revenue at ₹225.0 billion ($2,634.2 million¹), an increase of 0.8% QoQ and 1.3% YoY.
2. IT services segment revenue was at $2,596.5 million, decrease of 1.2% QoQ and 2.3% YoY.
3. Non-GAAP² constant currency IT Services segment revenue decreased 0.8% QoQ and 1.2% YoY.
4. Total bookings³ was at $3,955 million, up by 13.4% QoQ in constant currency². Large deal bookings4 was at $1,763 million, an increase of 48.5% YoY in constant currency².
5. IT services operating margin⁵ for Q4’25 was at 17.5%, flat QoQ and expansion of 1.1% YoY.
6. Net income for the quarter was at ₹35.7 billion ($417.8 million¹), an increase of 6.4% QoQ and 25.9% YoY.
7. Earnings per share for the quarter at ₹3.4 ($0.04¹), an increase of 6.2% QoQ and 25.8% YoY.
8. Operating cash flows of ₹37.5 billion ($438.5 million¹), decrease of 28.2% YoY and at 104.4% of Net Income for the quarter.
9. Voluntary attrition was at 15.0% on a trailing 12-month basis.

Results for the Year ended March 31, 2025:

1. Gross revenue reached ₹890.9 billion ($10.4 billion¹), a decrease of 0.7% YoY.
2. IT services segment revenue was at $10,511.5 million, a decrease of 2.7% YoY.
3. Non-GAAP² constant currency IT Services segment revenue decreased 2.3% YoY.
4. Large deal bookings⁴ was at $5.4 billion, up by 17.5% YoY. Total bookings³ was at $14.3 billion, decrease of 3.8% YoY.
5. IT services operating margin⁵ for the year was at 17.1%, up by 0.9% YoY.
6. Net income for the year was at ₹131.4 billion ($1,537.0 million¹), an increase of 18.9% YoY.
7. Earnings per share for the year was at ₹12.6 ($0.15¹), an increase of 20.3% YoY
8. Operating cash flows of ₹169.4 billion ($1,983.0 million¹), decrease of 3.9% YoY and at 128.2% of Net Income for the year.

Outlook for the Quarter ending June 30, 2025

We expect revenue from our IT Services business segment to be in the range of $2,505 million to $2,557 million*. This translates to sequential guidance of (-)3.5% to (-)1.5% in constant currency terms.

*Outlook for the Quarter ending June 30, 2025, is based on the following exchange rates: GBP/USD at 1.26, Euro/USD at 1.05, AUD/USD at 0.63, USD/INR at 86.60 and CAD/USD at 0.70

Performance for the Quarter and Year ended March 31, 2025

Srini Pallia, CEO and Managing Director, said “We closed FY25 with two mega deal wins, an increase in large deal bookings, and growth in our top accounts. Client satisfaction scores improved, reflecting strong execution and engagement. We also continued to invest in our global talent and in strengthening our consulting and AI capabilities. As clients remain cautious in the face of macroeconomic uncertainty, we’re focused on partnering closely with them while staying committed to consistent and profitable growth.”

Aparna Iyer, Chief Financial Officer, said “For Q4 operating margins expanded 110 basis points year on year and for the full financial year margin expanded by 90 basis points. Our focus on execution rigour has ensured that our margins have steadily expanded even in a softening revenue environment. Our endeavor will be to maintain the margin in a narrow band in the coming quarters. Our net income grew 6.4% sequentially in Q4 and 18.9% for the full financial year. Cash flow continued to be robust in Q4 resulting in net operating cash flow generation of almost $ 2 Bn for FY’25, which is 128.2% of our net income.

Capital Allocation:

The interim dividend of ₹ 6 declared by the Board at its meeting held on January 17^th, 2025, shall be considered as final dividend for the financial year 2024-25.

1. For the convenience of the readers, the amounts in Indian Rupees in this release have been translated into United States Dollars at the certified foreign exchange rate of US$1 = ₹85.43, as published by the Federal Reserve Board of Governors on March 31, 2025. However, the realized exchange rate in our IT Services business segment for the quarter ended March 31, 2025, was US$1= ₹86.44
2. Constant currency for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period.
3. Total Bookings refers to the total contract value of all orders that were booked during the period including new orders, renewals, and increases to existing contracts. Bookings do not reflect subsequent terminations or reductions related to bookings originally recorded in prior fiscal periods. Bookings are recorded using then-existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations. The revenues from these contracts accrue over the tenure of the contract. For constant currency growth rates, refer note 2.
4.  Large deal bookings consist of deals greater than or equal to $30 million in total contract value.
5. IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials

Highlights of Strategic Deal Wins

In the fourth quarter, Wipro continued to win large and strategic deals across industries. Key highlights include:

1. Phoenix Group, the UK’s largest long-term savings and retirement business, has selected Wipro to deliver life and pension business administration for their ReAssure business and accelerate the Group’s operational transformation. Under the terms of the 10-year deal, Wipro’s FCA-regulated entity, Wipro Financial Services Outsourcing Limited (WFOSL), will deliver comprehensive life and pension administration services that will encompass Policy Administration, Claims Processing, Customer Service Support, Data Management and Reporting, and Compliance and Regulatory Support. As part of the engagement, Wipro will also assume management of the client’s core policy administration ALPHA platform, modernizing it with AI, Automation, Cloud, and digital transformation technologies. This engagement aligns with our strategic big bet of setting up an Insurance Third Party Administration (TPA) business that will open doors for us to target large, multi-year platform, deals encompassing operations and technology.
2. A prominent North America-based financial institution has selected Wipro to enhance its technology infrastructure, delivery and operations. The Wipro team will consolidate the client’s existing technology vendors, thereby providing improved visibility into their technological delivery. Wipro will implement a global delivery model across the client’s entire business to streamline processes, optimize resource allocation, and significantly boost efficiency. This comprehensive approach will enable the client to achieve substantial cost savings, heightened productivity, and superior service delivery.
3. A manufacturer of premium household appliances headquartered in Europe has selected Wipro to manage and transform its IT landscape. The Wipro team will future-proof the client’s IT infrastructure by harnessing its AI-driven Smart-Operations Solution that includes conversational virtual service desk AI agents providing seamless support in multiple languages. Wipro will consolidate all business applications, infrastructure, and cyber security tracks onto a unified monitoring platform to provide better visibility into the client’s technology ecosystem. From this project, the client can expect to see enhanced operational efficiency and robust cyber-risk management.
4. One of the largest health insurers in the U.S has extended its engagement with Wipro to automate and streamline its financial and membership reconciliation. Wipro will deploy its industry leading Medicare platform, “Payer-in-a-box”, to support the client’s growing business. The SaaS based solution will provide the client with increased flexibility to handle membership growth, optimized financial control, and assured compliance with Centre for Medicare & Medicaid Services regulations. Additionally, the solution will also ensure data security, platform stability, and seamless business continuity for the client.
5. A Fortune 100 global healthcare payer, experiencing significant business growth, has entrusted Wipro to manage its increased operational demands. Wipro will leverage its deep expertise and AI tools to scale the client’s Medicare, Medicaid, and ACA operations. This will enable the client to focus on their core strategic priorities, optimize operational costs, and significantly improve efficiency in member services. Wipro will support the client in improving user experience and driving exceptional business outcomes.
6. A US-based payment card services company has expanded its relationship with Wipro to modernize and maintain its business applications portfolio. The Wipro team will undertake a transformation and optimization program across the client’s payment ecosystem. From this project, the client will see significantly improved transaction security for their end-customers, as well as enhanced scalability and cost efficiency.
7. A leading American multinational energy corporation has extended their relationship with Wipro to provide Application Management Services across their entire Oil & Gas value chain. Leveraging Wipro’s AI-powered NextGen AMS solution, the team will modernize and manage an expanded scope of business applications that power critical functions across the client’s end-to-end business value chain. Through this engagement, the client will see a significant increase in AI-enabled operational efficiency, improved resilience in automation, enhanced service levels, as well as stronger alignment with their competitive performance goals.
8. A North American parcel delivery company has extended its relationship with Wipro to provide private Cloud solutions, which comprise Cloud Server, Storage, Network, Security, and Scheduling services. Leveraging AI-Ops tools, the Wipro team will help the client achieve improved ticket resolution and reduction in planned outages. Further, the client will realize enhanced business agility and scalability, as well as cost predictability, data sovereignty, and resiliency.
9. A Europe-based international food wholesaler has extended its partnership with Wipro to provide comprehensive business application management, cloud, and IT support services. In the initial phase of the partnership, Wipro assisted the customer in accelerating their cloud strategy by migrating 80% of their on-premises infrastructure to the cloud and contributing to the modernization of their store infrastructure. The second phase will focus on enhancing cloud security through modernization and optimization of the client’s cloud environment. The Wipro team will also continue to manage and modernize the client’s business applications, utilizing GenAI-powered solutions to swiftly detect and resolve incidents, ensuring uninterrupted operations. Additionally, Wipro will leverage data-driven business insights to improve strategic decision-making, leading to enhanced operational efficiency and greater visibility into the client’s business segments.
10. A large Australian engineering and construction company has strengthened its strategic, long-standing partnership with Wipro by expanding into a Managed Services contract. Wipro will leverage automation and AI ops to improve user experience, deliver faster and higher quality issue resolution, as well as to optimize IT costs, and streamline operations. Wipro will also transform the client’s IT service delivery across multiple business units to create a modern, secure, and sustainable environment.
11. A multinational engineering corporation has selected Wipro to implement AI-powered comprehensive managed infosec services solution to enhance their network, endpoint, cloud, and identity security. Integrating AI solutions from the WeGA studio, Wipro will automate processes, efficiently resolve alerts, and provide contextual resolutions for the client. Wipro will enhance agent productivity by 15-20%, resulting in significant efficiency gains and improved overall performance.
12. Wipro has partnered with a US-based utility company to set up a GenAI Center of Excellence to spearhead AI innovation. Through the CoE, Wipro will create a comprehensive GenAI strategy for the client’s AI and data lifecycle. Wipro is developing an end-to-end resource planning platform for logistics, power management, and asset health monitoring, to streamline operations. The AI & data CoE will facilitate better risk governance, accelerated adoption and measurable ROI. The client will also see enhanced decision-making, regulatory alignment, as well as reusable and faster deployment of AI models.