Large Deal Bookings at $1.2 billion. IT
Services Margin expands 0.4% YoY. EPS increases 9.9% YoY. Operating
cash flows at 131.6% of net income.
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading
technology services and consulting company, announced financial
results under International Financial Reporting Standards (IFRS)
for the quarter ended June 30, 2024.
Highlights of the
Results
Results for the Quarter ended June 30, 2024:
- Gross revenue was at Rs 219.6 billion ($2,635.8 million1), a
decrease of 1.1% QoQ and 3.8% YoY.
- IT services segment revenue was at $2,625.9 million, a decrease
of 1.2% QoQ and decrease of 5.5% YoY.
- Non-GAAP2 constant currency IT Services segment revenue
decreased 1.0% QoQ, and 4.9% YoY.
- Total bookings3 was at $3,284 million. Large deal bookings4 was
at $1,154 million, a decrease of 3.1% QoQ and 3.6% YoY.
- IT services operating margin5 for the quarter was at 16.5%, an
increase of 0.1% QoQ and 0.4% YoY.
- Net income for the quarter was at Rs 30.0 billion ($360.4
million1), an increase of 5.9% QoQ and 4.6% YoY.
- Earnings per share for the quarter was at Rs 5.75 ($0.071), an
increase of 5.9% QoQ and 9.9% YoY.
- Operating cash flows of Rs 40.0 billion ($479.0 million1), an
increase of 6.5% YoY and at 131.6% of Net Income for the
quarter.
- Voluntary attrition was at 14.1% on a trailing 12-month
basis.
Outlook for the Quarter ending
September 30, 2024
We expect revenue from our IT Services business segment to be in
the range of $2,600 million to $2,652 million*. This translates to
sequential guidance of (-)1.0% to +1.0% in constant currency terms.
* Outlook for the Quarter ending September 30, 2024, is based on
the following exchange rates: GBP/USD at 1.26, Euro/USD at 1.08,
AUD/USD at 0.66, USD/INR at 83.27 and CAD/USD at 0.73
Performance for the Quarter ended June
30, 2024
Srini Pallia, CEO and Managing Director, said, “We
recorded another quarter of total large deal bookings over $1 bn,
with our largest win in the recent years. Our top accounts
continued to grow, accompanied by a growth in Americas1 SMU, 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 preparing our workforce for an AI-first future.”
Aparna Iyer, Chief Financial Officer, said, “We continued
to expand our margins to 16.5% in Q1’25, this is a 42-bps
improvement YoY. Our margin performance is also reflected in our
EPS increase of 10% YoY. Our operating cash flows continue to be
strong at 131.6% of our net income which takes our current
investment and cash balance to $5.4 billion.”
- For the convenience of the readers, the amounts in Indian
Rupees in this release have been translated into United States
Dollars at the certified foreign exchange rate of US$1 = Rs 83.33,
as published by the Federal Reserve Board of Governors on June 30,
2024. However, the realized exchange rate in our IT Services
business segment for the quarter ended June 30, 2024, was US$1= Rs
83.38
- Constant currency for a period is the product of volumes in
that period times the average actual exchange rate of the
corresponding comparative period.
- Total Bookings refers to the total contract value of all orders
that were booked during the period including new orders, renewals,
and increases to existing contracts. Bookings do not reflect
subsequent terminations or reductions related to bookings
originally recorded in prior fiscal periods. Bookings are recorded
using then-existing foreign currency exchange rates and are not
subsequently adjusted for foreign currency exchange rate
fluctuations. The revenues from these contracts accrue over the
tenure of the contract. For constant currency growth rates, refer
note 2.
- Large deal bookings consist of deals greater than or equal to
$30 million in total contract value.
- IT Services Operating Margin refers to Segment Results Total as
reflected in IFRS financials.
- Voluntary attrition is in IT Services computed on a quarterly
annualised basis and excludes DOP.
Highlights of Strategic Deal
Wins
In the first quarter, Wipro continued to win large and strategic
deals across industries. Key highlights include:
- Wipro has been awarded a $500 million deal by a leading U.S.
communications services provider. This is a five-year contract to
provide managed services for select products and industry-specific
solutions.
- Wipro was selected by a global leader in technology to
reimagine its hyperscaler customer experience centers through
AI-powered operations. Wipro will enable real-time business
insights, scale talent, and reduce cost of operations for the
client’s centers across the world. Additionally, the team will
modernize the client’s global R&D lab infrastructure and
accelerate innovation with rapid prototyping and increased speed to
market of new products and services.
- A US-based health insurance company has engaged Wipro to
deliver end-to-end transformation of its medical claims processing.
Over this multi-year deal, Wipro will implement customized AI-based
solutions, for claims processing, error prediction and agent
assist. Wipro's AI solution will deliver higher accuracy in claims
processing leading to a reduction in out-of-compliance claim
appeals and an overall decrease in the cost of operations. Wipro is
leveraging GenAI and AI to accelerate training and optimize
resource allocation for the client.
- A US-based automotive Tier 1 supplier has selected Wipro to
streamline its global technology services and rationalize its
applications including both Engineering and business to support its
portfolio. The Wipro team will develop a solution leveraging
automation and AI to improve the client’s customer experience and
reduce its overall operating costs, enhance innovation as well as
improve project delivery.
- A leading provider of innovative flash memory solutions has
selected Wipro as its strategic partner for Product Development and
Engineering. The Wipro team will establish a Center of Excellence
for Solid State Drive SSD engineering by leveraging its deep domain
expertise on storage firmware, embedded software, system
validations and GenAI methodologies to enhance the client’s product
development life cycle.
- Wipro has secured a transformational engagement with a state
government organization in Australia to deliver a centralized road
asset management system. This system will help the client make
reliable and fast strategic decisions for the future of its road
network. The ‘One Wipro’ team, with Rizing, Wipro Enterprise
Futuring and Domain & Consulting, will improve management of
road assets like bridges, tunnels, traffic assets, etc., through
integration and automation of the road asset register. The team
will also deliver new capabilities to support business needs like
staff mobility, leading to improved user experience with an
intuitive map driven approach.
- A US-based payment services corporation has selected Wipro to
enhance its applications to provide more resilient services,
improve performance and scalability to support projected business
growth. In partnership with the client, the Wipro team will develop
and deploy solutions utilizing proven Continuous Integration &
Deployment pipelines, leveraging AI. As a result, the client will
have better visibility of compliance requirements and see improved
agility and productivity.
- A US-based global technology company has selected Wipro to
develop and enhance its Silicon IP lifecycle. The Wipro team will
deploy a comprehensive end-to-end solution that includes silicon
engineering services encompassing areas such as analog circuit,
layout, and structural designs. The project will result in
increased agility and transparency across the Silicon IP
lifecycle.
- An Australian public health services organization has chosen
Wipro to migrate its legacy systems and automate its workforce
management process. The Wipro team will build a solution that
connects the aged care community with essential providers and
services. The client will see enhanced accessibility and exchange
of medical data, improved quality, and safety of primary healthcare
services, as well as increased innovation and efficiency through
digital technologies.
- A global pharmaceutical organization has expanded its existing
relationship with Wipro, selecting it to deliver persona-based
services for their Service Desk and onsite Field Support Services
globally. The programme includes 12 transformation initiatives to
modernize the client’s operating model and improve its user
experience through Gen AI use cases, including autopilot-based
provisioning, and remote management of applicable devices through
zero-touch remote IT services resolution. As a result of this
project, the client will see enhanced employee experience and
increased productivity.
- A Europe-based investment management company has selected Wipro
to manage its end-to-end infrastructure. The Wipro team will
consolidate vendors across the client’s IT operations and develop
AI tools to simplify its operations. This project will improve the
client’s operational stability and security, reduce costs, and
increase its cost efficiency by up to 30%.
- One of Europe’s largest providers of holiday parks has selected
Wipro to integrate its business functions into a single set of
standardized technology platforms with a redesigned operating
model. The Wipro team will design the business processes, build and
roll out core business platforms for the client’s commerce,
finance, and HR functions. The team will also build a data platform
to gain better business insights and roll out a change management
program to ensure a smooth transition. This project will deliver
harmonized and integrated systems enabling the client’s future
business growth.
- A leading US-based technology company has selected Wipro to
provide end-user sales and support services for its Spanish and
Portuguese-speaking customers in Latin America. Wipro will deploy
its trusted digital marketing advisors to support end users'
marketing presence. The team will also help in boosting advertising
revenue growth through ad campaign optimization, market planning
and book management.
Analyst Recognition
- Wipro was rated as a Leader in Avasant's Applied AI Services
2024 RadarView™
- Wipro was designated as a Leader in Avasant’s Cybersecurity
Services 2024 RadarView™
- Wipro was recognized as a Leader in IDC MarketScape: Worldwide
Consulting and Digital Services Providers for the Upstream Oil and
Gas Industry 2024 Vendor Assessment (Doc # US51004123 May
2024)
- Wipro was recognized as a Leader in Everest Group's Mainframe
Services PEAK Matrix® Assessment 2024
- Wipro was ranked as a Leader in Avasant's Manufacturing Digital
Services 2024 RadarView™
- Wipro was rated as a Leader in ISG Provider Lens™ - Digital
Engineering Services 2024 (all quadrants)
- Wipro was classified as a Leader in ISG Provider Lens™ -
Microsoft Cloud Ecosystem 2024 (multiple quadrants)
- Wipro was recognized as a Leader in ISG Provider Lens™ - SAP
Ecosystem 2024 (multiple quadrants)
- Wipro was featured as a Horizon 3 – Market Leader in the HFS
Horizons: HCP Service Providers, 2024 report
- Wipro was classified as a Leader in Avasant’s Banking Process
Transformation 2024 RadarView™
- Wipro was positioned as a Leader in the 2024 Gartner® Magic
Quadrant™ for Finance and Accounting Business Process
Outsourcing
- Wipro was rated as a Leader in ISG Provider Lens™ - Procurement
Services 2024 (all quadrants)
Source & Disclaimer: *Gartner, “Magic Quadrant for Finance
and Accounting Business Process Outsourcing”, Jan Ambergen, et al,
21 May 2024.
GARTNER is a registered trademark and service mark of Gartner,
Inc. and/or its affiliates in the U.S. and internationally, and
MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or
its affiliates and are used herein with permission. All rights
reserved.
Gartner does not endorse any vendor, product, or service
depicted in its research publications, and does not advise
technology users to select only those vendors with the highest
ratings or other designation. Gartner's research publications
consist of the opinions of Gartner’s research organization and
should not be construed as statements of fact. Gartner disclaims
all warranties, expressed or implied, with respect to this
research, including any warranties of merchantability or fitness
for a particular purpose.
The Gartner content described herein (the “Gartner Content”)
represents research opinion or viewpoints published, as part of a
syndicated subscription service, by Gartner, Inc. ("Gartner"), and
is not a representation of fact. Gartner Content speaks as of its
original publication date (and not as of the date of this press
release, and the opinions expressed in the Gartner Content are
subject to change without notice.
IT Products
- IT Products segment revenue for the quarter was Rs 0.5 billion
($5.6 million1)
- IT Products segment results for the quarter were (-) Rs 0.05
billion (-$0.56 million1)
Please refer to the table at the end for reconciliation between
IFRS IT Services Revenue and IT Services Revenue on a non-GAAP
constant currency basis.
About Key Metrics and Non-GAAP
Financial Measures
This press release contains key metrics and non-GAAP financial
measures within the meaning of Regulation G and Item 10(e) of
Regulation S-K. Such non-GAAP financial measures are measures of
our historical or future performance, financial position or cash
flows that are adjusted to exclude or include amounts that are
excluded or included, as the case may be, from the most directly
comparable financial measure calculated and presented in accordance
with IFRS.
The table at the end provides IT Services Revenue on a constant
currency basis, which is a non-GAAP financial measure that is
calculated by translating IT Services Revenue from the current
reporting period into U.S. dollars based on the currency conversion
rate in effect for the prior reporting period. We refer to growth
rates in constant currency so that business results may be viewed
without the impact of fluctuations in foreign currency exchange
rates, thereby facilitating period-to-period comparisons of our
business performance. Further, in the normal course of business, we
may divest a portion of our business which may not be strategic. We
refer to the growth rates in both reported and constant currency
adjusting for such divestments in order to represent the comparable
growth rates.
Our key metrics and non-GAAP financial measures are not based on
any comprehensive set of accounting rules or principles and should
not be considered a substitute for, or superior to, the most
directly comparable financial measure calculated in accordance with
IFRS and may be different from non-GAAP measures used by other
companies. Our key metrics and non-GAAP financial measures are not
comparable to, nor should be substituted for, an analysis of our
revenue over time and involve estimates and judgments. In addition
to our non-GAAP measures, the financial statements prepared in
accordance with IFRS and the reconciliation of these non-GAAP
financial measures with the most directly comparable IFRS financial
measure should be carefully evaluated.
Results for the Quarter ended June 30, 2024, prepared under
IFRS, along with individual business segment reports, are available
in the Investors section of our website
www.wipro.com/investors/
Quarterly Conference Call
We will hold an earnings conference call today at 07:00 p.m.
Indian Standard Time (9:30 a.m. U.S. Eastern Time) to discuss our
performance for the quarter. The audio from the conference call
will be available online through a webcast and can be accessed at
the following link-
https://links.ccwebcast.com/?EventId=WIP19072024
An audio recording of the management discussions and the
question-and-answer session will be available online and will be
accessible in the Investor Relations section of our website at
www.wipro.com
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading
technology services and consulting company focused on building
innovative solutions that address clients’ most complex digital
transformation needs. Leveraging our holistic portfolio of
capabilities in consulting, design, engineering, and operations, we
help clients realize their boldest ambitions and build
future-ready, sustainable businesses. With over 230,000 employees
and business partners across 65 countries, we deliver on the
promise of helping our clients, colleagues, and communities thrive
in an ever-changing world. For additional information, visit us at
www.wipro.com
Forward-Looking Statements
The forward-looking statements contained herein represent
Wipro’s beliefs regarding future events, many of which are by their
nature, inherently uncertain and outside Wipro’s control. Such
statements include, but are not limited to, statements regarding
Wipro’s growth prospects, its future financial operating results,
the benefits its customers experience and its plans, expectations
and intentions. Wipro cautions readers that the forward-looking
statements contained herein are subject to risks and uncertainties
that could cause actual results to differ materially from the
results anticipated by such statements. Such risks and
uncertainties include, but are not limited to, risks and
uncertainties regarding fluctuations in our earnings, revenue and
profits, our ability to generate and manage growth, complete
proposed corporate actions, intense competition in IT services, our
ability to maintain our cost advantage, wage increases in India,
our ability to attract and retain highly skilled professionals,
time and cost overruns on fixed-price, fixed-time frame contracts,
client concentration, restrictions on immigration, our ability to
manage our international operations, reduced demand for technology
in our key focus areas, disruptions in telecommunication networks,
our ability to successfully complete and integrate potential
acquisitions, liability for damages on our service contracts, the
success of the companies in which we make strategic investments,
withdrawal of fiscal governmental incentives, political
instability, war, legal restrictions on raising capital or
acquiring companies outside India, unauthorized use of our
intellectual property and general economic conditions affecting our
business and industry.
Additional risks that could affect our future operating results
are more fully described in our filings with the United States
Securities and Exchange Commission, including, but not limited to,
Annual Reports on Form 20-F. These filings are available at
www.sec.gov. We may, from time to time, make additional written and
oral forward-looking statements, including statements contained in
the company’s filings with the Securities and Exchange Commission
and our reports to shareholders. We do not undertake to update any
forward-looking statement that may be made from time to time by us
or on our behalf.
WIPRO LIMITED AND
SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED
STATEMENT OF FINANCIAL POSITION
(Rs in millions, except share
and per share data, unless otherwise stated)
As at March 31, 2024
As at June 30, 2024
Convenience translation into
US dollar in millions (unaudited)
ASSETS
Goodwill
316,002
316,054
3,793
Intangible assets
32,748
30,971
372
Property, plant and equipment
81,608
79,957
960
Right-of-Use assets
17,955
19,233
231
Financial assets
Derivative assets
25
-
-
Investments
21,629
21,262
255
Trade receivables
4,045
584
7
Other financial assets
5,550
5,290
63
Investments accounted for using the equity
method
1,044
999
12
Deferred tax assets
1,817
1,752
21
Non-current tax assets
9,043
9,453
113
Other non-current assets
10,331
11,656
140
Total non-current assets
501,797
497,211
5,967
Inventories
907
912
11
Financial assets
Derivative assets
1,333
1,359
16
Investments
311,171
351,917
4,223
Cash and cash equivalents
96,953
98,304
1,180
Trade receivables
115,477
114,071
1,369
Unbilled receivables
58,345
61,720
741
Other financial assets
10,536
9,050
109
Contract assets
19,854
19,414
233
Current tax assets
6,484
6,031
72
Other current assets
29,602
30,827
370
Total current assets
650,662
693,605
8,324
TOTAL ASSETS
1,152,459
1,190,816
14,291
EQUITY
Share capital
10,450
10,460
126
Share premium
3,291
5,512
66
Retained earnings
630,936
661,495
7,938
Share-based payment reserve
6,384
5,498
66
Special Economic Zone re-investment
reserve
42,129
41,602
499
Other components of equity
56,693
55,526
666
Equity attributable to the equity
holders of the Company
749,883
780,093
9,361
Non-controlling interests
1,340
1,669
20
TOTAL EQUITY
751,223
781,762
9,381
LIABILITIES
Financial liabilities
Loans and borrowings
62,300
62,317
748
Lease liabilities
13,962
16,191
194
Derivative liabilities
4
-
-
Other financial liabilities
4,985
5,747
69
Deferred tax liabilities
17,467
17,231
207
Non-current tax liabilities
37,090
37,238
447
Other non-current liabilities
12,970
13,879
167
Total non-current liabilities
148,778
152,603
1,832
Financial liabilities
Loans, borrowings and bank overdrafts
79,166
82,283
987
Lease liabilities
9,221
8,115
97
Derivative liabilities
558
141
2
Trade payables and accrued expenses
88,566
83,051
997
Other financial liabilities
2,272
2,825
34
Contract liabilities
17,653
17,541
211
Current tax liabilities
21,756
26,881
323
Other current liabilities
31,295
33,743
405
Provisions
1,971
1,871
22
Total current liabilities
252,458
256,451
3,078
TOTAL LIABILITIES
401,236
409,054
4,910
TOTAL EQUITY AND LIABILITIES
1,152,459
1,190,816
14,291
WIPRO LIMITED AND
SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED
STATEMENT OF INCOME
(Rs in millions, except share
and per share data, unless otherwise stated)
Three months ended June
30,
2023
2024
2024
Convenience translation into
US dollar in millions (unaudited)
Revenues
228,310
219,638
2,636
Cost of revenues
(161,261
)
(153,306
)
(1,840
)
Gross profit
67,049
66,332
796
Selling and marketing expenses
(16,584
)
(15,844
)
(190
)
General and administrative expenses
(15,887
)
(14,213
)
(172
)
Foreign exchange gains/(losses), net
(62
)
(206
)
(2
)
Results from operating
activities
34,516
36,069
432
Finance expenses
(3,086
)
(3,288
)
(39
)
Finance and other income
6,542
7,480
90
Share of net profit/ (loss) of associate
and joint venture accounted for using the equity method
3
(45
)
(1
)
Profit before tax
37,975
40,216
482
Income tax expense
(9,115
)
(9,850
)
(118
)
Profit for the period
28,860
30,366
364
Profit attributable to:
Equity holders of the Company
28,701
30,032
360
Non-controlling interests
159
334
4
Profit for the period
28,860
30,366
364
Earnings per equity share:
Attributable to equity holders of the
Company
Basic
5.23
5.75
0.07
Diluted
5.12
5.73
0.07
Weighted average number of equity
shares
used in computing earnings per equity
share
Basic
5,482,733,329
5,225,776,256
5,225,776,256
Diluted
5,600,307,315
5,236,768,113
5,236,768,113
Information on reportable segments for the three months ended
June 30, 2024, March 31, 2024, and June 30, 2023, year ended March
31, 2024 are as follows:
Particulars
Three months ended
Year ended
June 30, 2024
March 31, 2024
June 30, 2023
March 31, 2024
Audited
Audited
Audited
Audited
Segment revenue
IT Services
Americas 1
67,700
67,229
65,607
268,230
Americas 2
67,338
67,724
68,303
269,482
Europe
60,422
61,344
67,134
253,927
APMEA
23,503
24,499
26,510
102,177
Total of IT Services
218,963
220,796
227,554
893,816
IT Products
469
1,159
694
4,127
Total segment revenue
219,432
221,955
228,248
897,943
Segment result
IT Services
Americas 1
13,687
14,081
13,537
59,364
Americas 2
15,533
15,791
14,169
59,163
Europe
5,873
7,933
9,968
33,354
APMEA
2,441
3,401
2,800
12,619
Unallocated
(1,477
)
(5,011
)
(3,957
)
(20,304
)
Total of IT Services
36,057
36,195
36,517
144,196
IT Products
(47
)
143
(161
)
(371
)
Reconciling Items
59
(965
)
(1,840
)
(7,726
)
Total segment result
36,069
35,373
34,516
136,099
Finance expenses
(3,288
)
(3,308
)
(3,086
)
(12,552
)
Finance and other income
7,480
6,759
6,542
23,896
Share of net profit/ (loss) of associate
and joint venture accounted for using the equity method
(45
)
(202
)
3
(233
)
Profit before tax
40,216
38,622
37,975
147,210
Additional Information:
The Company is organized into the following operating segments:
IT Services and IT Products.
IT Services: The IT Services segment primarily consists
of IT services offerings to customers organized by four Strategic
Market Units (“SMUs”) - Americas 1, Americas 2, Europe
and Asia Pacific Middle East and Africa (“APMEA”). Americas 1
and Americas 2 are primarily organized by industry sector, while
Europe and APMEA are organized by countries.
Americas 1 includes the entire business of Latin America
(“LATAM”) and the following industry sectors in the United States
of America: Communications, media and information services,
Software and gaming, New age technology, Consumer goods, medical
devices and life sciences, Healthcare, and Technology products and
services. Americas 2 includes the entire business in Canada
and the following industry sectors in the United States of America:
Banking and financial services, Energy, Manufacturing and
resources, Capital markets and insurance, and Hi-tech.
Europe consists of the United Kingdom and Ireland,
Switzerland, Germany, Benelux, the Nordics and Southern Europe.
APMEA consists of Australia and New Zealand, India,
Middle East, South-East Asia, Japan and Africa.
Revenue from each customer is attributed to the respective SMUs
based on the location of the customer’s primary buying center of
such services. With respect to certain strategic global customers,
revenue may be generated from multiple countries based on such
customer’s buying centers, but the total revenue related to these
strategic global customers are attributed to a single SMU based on
the geographical location of key decision makers.
IT Products: The Company is a value-added reseller of
security, packaged and SaaS software for leading international
brands. In certain total outsourcing contracts of the IT Services
segment, the Company delivers hardware, software products and other
related deliverables. Revenue relating to these items is reported
as revenue from the sale of IT Products.
Reconciliation of selected GAAP
measures to Non-GAAP measures
Reconciliation of Non-GAAP Constant Currency IT Services
Revenue to IT Services Revenue as per IFRS ($Mn)
Three Months ended June 30,
2024
IT Services Revenue as per IFRS
$2,625.9
Effect of Foreign currency exchange
movement
$5.5
Non-GAAP Constant Currency IT Services
Revenue based on previous quarter exchange rates
$2,631.4
Three Months ended June 30,
2024
IT Services Revenue as per IFRS
$2,625.9
Effect of Foreign currency exchange
movement
$17.0
Non-GAAP Constant Currency IT Services
Revenue based on exchange rates of comparable period in previous
year
$2,642.9
Reconciliation of Free Cash Flow for
three months ended June 30, 2024
Amount in INR Mn
Three months ended
30-Jun-24
Net Income for the period
[A]
30,366
Computation of Free Cash Flow
Net cash generated from operating
activities [B]
39,959
Add/ (deduct) cash
inflow/ (outflow) on:
Purchase of property, plant and
equipment
(2,619
)
Proceeds from sale of property, plant and
equipment
36
Free Cash Flow [C]
37,376
Operating Cash Flow as percentage of
Net Income [B/A]
131.6
%
Free Cash Flow as percentage of Net
Income [C/A]
123.1
%
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version on businesswire.com: https://www.businesswire.com/news/home/20240719641587/en/
Contact for Investor Relations Dipak Kumar Bohra Phone:
+91-80-6142 7201 dipak.bohra@wipro.com Abhishek Jain Phone:
+91-80-6142 6143 abhishek.jain2@wipro.com Contact for Media
& Press Phone: +91-80-6142 6450
media-relations@wipro.com
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