Strong Deal Bookings
Wipro reported $5 billion in total contract value for the quarter, marking a 51% year-on-year growth. Large deal bookings reached $2.7 billion, up 131% year-on-year, including 16 large deals and 2 mega deals.
IT Services Margin Expansion
The IT Services margin was 17.3%, showing an expansion of 80 basis points year-on-year.
Net Income Growth
Net income grew by 10.9% year-on-year, even after absorbing a one-time restructuring cost of INR 246 crores.
Free Cash Flow
Free cash flow generation was robust, at 115% of net income.
Interim Dividend Declaration
The Board of Directors declared an interim dividend of INR 5 per share, with cash distributed in excess of $1.3 billion over the last 6 months.
AI and Modernization Initiatives
Wipro is focusing on AI-first initiatives and modernization, which have become essential for operations across industries.