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Wipro expects $10 billion in revenue for FY22, sees 5-7% growth in Q2

Updated : July 16, 2021 13:27:11 IST

IT services firm Wipro on Thursday, July 15, reported a 9 percent sequential rise in its consolidated net profit at Rs 3,242.6 crore for the first quarter of FY22.

The company's IT services segment revenues, during Q1FY22, rose 12.45 percent to Rs 18,368.4 crore as compared to Rs 16,334 crore, QoQ. In dollar terms, the company reported revenue growth of 12.2 percent at $2,414.5 million as against $2,152.5 million, sequentially.

In an interview with CNBC-TV18, Thierry Delaporte, MD & CEO, Jatin Dalal, CFO and Saurabh Govil, chief human resources officer of Wipro, discussed the company's Q1FY22 performance.

First up, Delaporte said, “We have always said that we will focus on driving a consistent progression and we will guide quarter on quarter (QoQ) for Q2FY22, we are guiding for 5-7 percent growth. We continue by consistency to not guide for the full year but the Q1 performance and the Q2 guidance sets us up well ahead for double-digit growth for the full year even excluding Capco.”

Dalal said, “Growth remains our priority and the year that it is, we must capture the growth as the momentum is robust, as seen from the robust and overall market correction. So, we will remain invested in growth.”

According to Govil, attrition will continue and will not come down sharply in the next quarter. “Attrition is industry-wide; not only in IT but across industries. It’s going to be there and it’s not that it is going to come down sharply in the next quarter, but the critical part is that our supply chain processes have been fine-tuned to make sure we are much more agile and making sure that we are able to service all the demands which we have. So, the supply chain will not impact the demand environment,” he said.

For more details, watch the video
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