WIPRO

📊 Wipro Q4 FY25 Snapshot (Quarter ended March 31, 2025) Revenue: ₹22,500 crore, up ~1% YoY; flat QoQ IT Services Revenue: $2.60 bn; down ~2.3% YoY, ~1.2% QoQ Net Profit: ₹3,570 crore; ~26% YoY growth, ~6% QoQ rise Operating Margin (Services): 17.5%; flat QoQ, ~110 bp YoY improvement Deal Bookings: Total $3.955 bn (+13% QoQ); Large wins $1.763 bn (+48% YoY) Cash Flow: Strong—free cash flow ~118% of net income; gross cash ~$6.4 bn Dividend: Interim ₹6/share declared in January considered final for FY25 🧭 Management Commentary & Near-Term Outlook Management highlighted macroeconomic and trade-related uncertainties affecting client spending, especially in discretionary and BFSI verticals in Europe and the U.S. Emphasis on maintaining margins through operational efficiency, managing pipelines. FY26 Q1 IT Services revenue forecast in constant currency: -1.5% to -3.5% sequential decline. Focus remains on: margin discipline, GenAI integration in services, selectively hiring fresh graduates, and cautiously supporting business transformation projects. 💡 Takeaways Profit-led growth: Net profit surged significantly despite flat topline. Margins holding steady, reflecting cost discipline amid soft revenue. Healthy deal pipeline with large contract wins underpin potential future growth. Conservative guidance signals cautious sentiment; Q1 FY26 may see revenue softness. Strategic priorities: GenAI adoption, client satisfaction, disciplined hiring, and margin defense. 🔍 What to Watch Next Q1 FY26 results (July/August 2025): will reveal if revenue stabilizes post-guidance. Performance of large deals: implementation vs. recognition in revenue. Macro developments: trade dynamics and global IT spending trends. GenAI traction: embedded capability into services and its commercial impact.