Well, last quarter wasn’t brilliant for Wipro either, but at least management felt it had a clear enough picture of things to come to offer guidance for the current quarter, unlike its Banaglore-based archrival, Infosys (see Infosys gives up quarterly guidance in wake of horror Q1).
Like Infosys, Wipro’s headline revenues for the 3 months to 30th June dropped back by 1% sequentially to $1.51b, around 8% higher yoy. This was technically a ‘miss’ as management had previously expected revenues to exceed $1.52b, but like peers, volatile FX rates took their toll. Management is now aiming for $1.52-1.55b in the current quarter, about 1% up qoq and only 4% higher yoy. Wipro’s operating margin was up a tad qoq to 21.0%, though 1 point down yoy.
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