Revenue drops 0.17% to Rs 23,190.30 crore (Bloomberg estimate: Rs 23,460.30 crore).
Ebit down 0.89% at Rs 4,219.30 crore (Bloomberg estimate: Rs 3,738.59 crore).
Ebit margin at 18.19% vs 18.33% (Bloomberg estimate: 15.94%).
Net profit up 0.93% at Rs 3,093.5 crore (Bloomberg estimate: Rs 3,129.12 crore).
*Order Book Growth*
Wipro saw total contract value of $4.1 billion, with 29% year-on-year growth in constant currency terms during the quarter under review.
Of the overall order book, the IT bellwether closed 15 large deals, resulting in a TCV of over $1.1 billion, with 155% growth year-on-year in constant currency terms during the March quarter.
Number of customers in the over $100 million and over $75 million baskets remained unchanged from the previous quarter at 19 and 29, respectively.
The company added 63 new customers during the period, but its overall customer base shrank by 43 to 1,441 during the March quarter as compared with the previous quarter.
*Attrition Moderates, Headcount Dips*
At the end of the March quarter, Wipro had a total headcount of 2,56,921 employees, lower than 2,58,744 recorded in the December quarter.
Voluntary attrition moderated during the period under review to 19.2%, from 21.2% in the preceding quarter.
The company has onboarded 22,000 new associates during fiscal 2023.
*Wipro Declares Rs 12,000-Crore Buyback*
The board of directors also approved a proposal to buyback 26.97 crore shares, representing 4.91% shareholding of the company.
The IT major will pay Rs 445 per share, marking a premium of 18.87% on the April 27 closing price of Rs 374.35. The total buyback size will be around Rs 12,000 crore.
*Outlook For June Quarter*
Wipro expects revenue from IT services business, including India State Run Enterprise segment, to be in the range of $2,753 million to $2,811 million.
This translates to sequential guidance of -3.0% to -1.0% in constant currency terms.
