Wipro's Q1 net profit rises 4.6% to Rs 3,003.2 cr; revenue falls 3.8%

IT major Wipro on Friday posted a 4.6 per cent year-on-year rise in its consolidated net profit for the June quarter at Rs 3,003.2 crore.

The Q1 FY25 revenue of the Bengaluru-headquartered firm, however, fell 3.8 per cent to Rs 21,963.8 crore.

The company said it expects revenue from the IT Services business segment to be in the range of $2,600 million to $2,652 million, in the September quarter.

"This translates to sequential guidance of (-) 1.0 per cent to +1.0 per cent in constant currency terms," it said.

Srini Pallia, CEO and managing director of Wipro said the company recorded another quarter of total large deal bookings of over $1 billion, with its "largest win in the recent years".

"Our top accounts continued to grow, accompanied by a growth in 'Americas 1' strategic market unit (SMU), banking, financial services and insurance (BFSI) and consumer sectors.

"We are pleased with the momentum we have built in Q1 across industries and sectors and confident in our ability to execute better on bookings and profitable growth as we transition to Q2... While we continue to build on our ai360 strategy and prepare our workforce for an AI-first future," Pallia said.