IT Services delivers constant currency growth in revenues at 17.2% in YoY CC
Highlights of the Results
Results for the Quarter ended June 30, 2022:
- Gross Revenue was Rs 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 Rs 25.6 billion ($324.4 million1) and Earnings Per Share for the quarter was at Rs 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.”
Jatin Dalal, Chief Financial Officer said, “We are consistently investing in solutions and capabilities for our growth to further strengthen our position of being a strategic partner for our clients. At 15% of operating margins, we believe that we have bottomed out.”
