{"id":157752,"date":"2024-01-16T11:03:17","date_gmt":"2024-01-16T16:03:17","guid":{"rendered":"https:\/\/44.250.171.167\/?p=157752"},"modified":"2024-01-16T11:03:19","modified_gmt":"2024-01-16T16:03:19","slug":"wipro-limited-q3-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/wipro-limited-q3-fy24-earnings-conference-call-insights\/","title":{"rendered":"Wipro Limited Q3 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Wipro Limited (WIPRO) Q3 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Financial Performance<\/strong>\n<ul>\n<li>IT services revenue at top end of guidance at $2.66 billion.<\/li>\n<li>Booked $3.8 billion in total contract value (TCV).<\/li>\n<li>$900 million plus in large deal TCV, up 20% YTD.<\/li>\n<li>Net income margin expanded 180 bps sequentially to 16%.<\/li>\n<li>Operating margin remained resilient at 16% despite headwinds.<\/li>\n<li>Highest operating cash flow in 5 quarters at 177% of net income<\/li>\n<\/ul>\n<\/li>\n<li><strong>Demand Environment<\/strong>\n<ul>\n<li>Overall demand remains cautious.<\/li>\n<li>Clients focused on returns on investment and optimization.<\/li>\n<li>Consulting showing signs of bounce back with double digit order bookings growth at Capco.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Americas\/ Europe Performance<\/strong>\n<ul>\n<li>Americas 1 saw 2% sequential growth led by 9% in healthcare.<\/li>\n<li>Americas 2 saw 1.3% revenue decline but 46% increase in order bookings TCV.<\/li>\n<li>Won 4 large deals totaling about $300 million despite economic weakness in Europe.<\/li>\n<li>Revenue decreased 4.3% sequentially.<\/li>\n<\/ul>\n<\/li>\n<li><strong>APMEA Performance<\/strong>\n<ul>\n<li>Revenue declined 5.4% from reducing low margin accounts.<\/li>\n<li>Margins rose 240 bps sequentially to 13.8%, highest in 6 quarters.<\/li>\n<li>Consulting playing big role in complex deals.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Operations Streamlining<\/strong>\n<ul>\n<li>Leveraging AI\/automation for efficiency across functions.<\/li>\n<li>Optimizing talent pyramid to better serve clients.<\/li>\n<li>Multiple initiatives underway to develop and reskill talent.<\/li>\n<li>Leveraging capabilities from acquired firms.<\/li>\n<li>Changes to Growth Office reinforce large deal nurturing.<\/li>\n<\/ul>\n<\/li>\n<li><strong>People Investment<\/strong>\n<ul>\n<li>Completed annual salary increases and promotion cycle.<\/li>\n<li>Focus on training, development, and growth opportunities.<\/li>\n<li>Will hire for specific skills as needed but no major additions yet.<\/li>\n<li>As demand rebounds over coming quarters, more significant hiring expected.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Leveraging AI<\/strong>\n<ul>\n<li>AI moving from experimentation to vital business strategy.<\/li>\n<li>AI embedded across existing solutions and new offerings.<\/li>\n<li>Using GenAI in digital workplace, engineering, and healthcare.<\/li>\n<li>Expanding partnerships with NVIDIA and IBM on AI.<\/li>\n<li>210K employees trained on AI, learning pathways rolled out.<\/li>\n<li>Accelerating GenAI adoption internally across HR, marketing, finance etc.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Guidance<\/strong>\n<ul>\n<li>Revenue guidance of -1.5% to +0.5% QoQ growth in constant currency.<\/li>\n<li>Expect margins to remain range-bound with improvements in coming quarters.<\/li>\n<li>Guidance shows cautious optimism despite solid Q3 performance.<\/li>\n<li>Growth will enable some margin expansion but investments needed for the future.<\/li>\n<li>Areas like AI and people will require ongoing investment amidst expansion.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Transformation Programs<\/strong>\n<ul>\n<li>Leveraging 4 global business units for talent and solutions.<\/li>\n<li>Governance through program management and leadership focus.<\/li>\n<li>Restructuring low-margin businesses through multi-pronged actions.<\/li>\n<li>Optimizing costs and organizational design for agility.<\/li>\n<li>Heading towards more AI-based automation internally.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Market Outlook<\/strong>\n<ul>\n<li>Seeing some positive signs like stabilization and increased discretionary spending, but remains cautiously optimistic.<\/li>\n<li>Hard to predict 2023 budget priorities yet, but consulting rebound signals improving market.<\/li>\n<li>Uncertainty still remains compared to pre-slowdown tech spending.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Capco Performance<\/strong>\n<ul>\n<li>Double-digit order bookings growth signals consulting rebound, specifically in financial services.<\/li>\n<li>Broad-based growth across BFSI clients.<\/li>\n<li>Consulting pull-through effect means downstream revenue likely 5-6x consulting fees.<\/li>\n<li>Capco rapidly growing previously, then exposed in recent tech spending slowdown.<\/li>\n<li>Signs of turnaround for Capco mirror potential wider stabilization.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Consulting Rebound<\/strong>\n<ul>\n<li>Discretionary spending showing signs of bottoming out and slight recovery.<\/li>\n<li>Recent sales performance and large deal wins should drive future growth.<\/li>\n<li>Leakages seem to be reducing with incoming revenue exceeding cancellations.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Performance by Vertical<\/strong>\n<ul>\n<li>WIT seeing ENU as a reasonably good market with significant investments.<\/li>\n<li>Expecting to see growth in ENU for Wipro going forward.<\/li>\n<li>In Manufacturing, performance has been mixed recently but potential in areas like automotive.<\/li>\n<li>The company has big ambitions for manufacturing and wants to invest more.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Wipro Limited (WIPRO) Q3 FY24 Earnings Concall Financial Performance IT services revenue at top end of guidance at $2.66 billion. Booked $3.8 billion in total contract value (TCV). $900 million plus in large deal TCV, up 20% YTD. Net income margin expanded 180 bps sequentially to 16%. Operating margin remained resilient at [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,8],"tags":[8588,10169,5075,9124],"class_list":["post-157752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-technology-stocks","tag-consulting","tag-earnings","tag-it-services","tag-software-technology-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":155041,"url":"https:\/\/alphastreet.com\/india\/wipro-ltd-q2-fy24-earnings-conference-call-insights\/","url_meta":{"origin":157752,"position":0},"title":"Wipro Ltd Q2 FY24 Earnings Conference Call Insights","author":"Praveen","date":"October 18, 2023","format":false,"excerpt":"Key highlights from Wipro Ltd (WIPRO) Q2 FY24 Earnings Concall Strong Deal Wins And Order Bookings Closed large deals worth $1.3 billion in TCV, highest in last 9 quarters and 79% YoY growth. Booked 14 deals over $30 million in TCV vs 10 last quarter. Total bookings TCV at $3.8\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":138701,"url":"https:\/\/alphastreet.com\/india\/wipro-limited-q3-fy23-earnings-conference-call-insights\/","url_meta":{"origin":157752,"position":1},"title":"Wipro Limited Q3 FY23 Earnings Conference Call Insights","author":"Praveen","date":"January 17, 2023","format":false,"excerpt":"https:\/\/youtu.be\/LM-SWC6m414 Key highlights from Wipro Limited (WIPRO) Q3 FY23 Earnings Concall Management Update: [00:04:04] WIPRO delivered its highest ever bookings quarter in total contract value terms. [00:15:19] WIPRO\u2019s attrition dropped for the fourth straight quarter with attrition dropping to 21% on a TTM basis in 3Q23. Q&A Highlights: [00:26:57] Mukul\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":166590,"url":"https:\/\/alphastreet.com\/india\/wipro-q3-2024-2025-call-highlights-bfsi-surge-robust-pipeline-and-hiring-plans\/","url_meta":{"origin":157752,"position":2},"title":"WIPRO Q3 2024-2025 Call Highlights: BFSI Surge, Robust Pipeline, and Hiring Plans!","author":"Praveen","date":"January 21, 2025","format":false,"excerpt":"Wipro Ltd., an Indian multinational technology company that provides IT services, consulting, and business process services, in its Q3 earnings call discussed strong deal momentum, mainly in BFSI and EMR (Electronic Medical Records) segments, with discretionary spending showing positive signs in Americas. The company addressed that while BFSI budgets are\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":173171,"url":"https:\/\/alphastreet.com\/india\/wipro-q3-fy26-earnings-results\/","url_meta":{"origin":157752,"position":3},"title":"Wipro Q3 FY26 Earnings Results","author":"Chirag Gupta","date":"January 16, 2026","format":false,"excerpt":"Wipro Ltd is a global Information technology, consulting and business process services (BPS) company. It is the 4th largest Indian player in the global IT services industry behind TCS, Infosys and HCL Technologies. Q3 FY26 Earnings Results Revenue from Operations (Consolidated): \u20b923,560 crore, up ~3.8% QoQ from ~\u20b922,697 crore in\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Wipro-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Wipro-Q3-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Wipro-Q3-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Wipro-Q3-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Wipro-Q3-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2026\/01\/Wipro-Q3-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171559,"url":"https:\/\/alphastreet.com\/india\/wipro-q2-fy26-earnings-results\/","url_meta":{"origin":157752,"position":4},"title":"Wipro Q2 FY26 Earnings Results","author":"Chirag Gupta","date":"October 16, 2025","format":false,"excerpt":"Wipro Ltd is a global Information technology, consulting and business process services (BPS) company. Presenting below are its Q2 FY26 earnings results. \u00a0 Q2 FY26 Earnings Results Revenue from Operations:\u00a0\u20b922,697 crore, up 1.7% YoY from \u20b922,302 crore and up 2.5% QoQ from \u20b922,135 crore in Q1 FY26. Net Profit (PAT):\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Wipro Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Wipro-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Wipro-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Wipro-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Wipro-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Wipro-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/Wipro-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":149153,"url":"https:\/\/alphastreet.com\/india\/wipro-ltd-q1-fy24-earnings-conference-call-insights\/","url_meta":{"origin":157752,"position":5},"title":"Wipro Ltd Q1 FY24 Earnings Conference Call Insights","author":"Praveen","date":"July 14, 2023","format":false,"excerpt":"Key highlights from Wipro Ltd (WIPRO) Q1 FY24 Earnings Concall Management Update: [00:07:10] WIPRO announced a $1 billion investment in AI and launched a new AI-first innovation ecosystem called Wipro ai360. [00:12:46] WIPRO said it is seeing solid demand in high-growth areas, like cloud transformation. [00:14:50] WIPRO\u2019s attrition has continued\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/157752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=157752"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/157752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/154818"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=157752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=157752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=157752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}