Wipro revenue edges up, deal bookings hit 4-year low

BENGALURU: Wipro made a weak start to the second half of FY27, with flat sequential growth and total bookings falling to a near four-year low as deal signings were delayed. Client-specific issues in its mainstay market, Americas 1, and weakness in healthcare also weighed on performance.IT services revenue was flat sequentially and grew 0.6% year-on-year in constant currency in the Sept quarter. In dollar terms, revenue declined 0.1% sequentially and grew 0.3% YoY to $2.6 billion. Operating margin stood at 16.5%, expanding 50 basis points sequentially but declining 20 basis points YoY.Total bookings stood at $2.6 billion, down 22.9% sequentially in constant currency. Large-deal bookings fell 58.6% sequentially to $674 million. “Our bookings were lower this quarter. However, a couple of deals that had been awarded to us were not signed during the quarter. We expect these to flow into Q3, and we are very bullish about our Q3 bookings performance. There was a specific client-related situation in Americas 1, along with an issue in healthcare,” said Wipro CEO Srini Pallia. He said the company typically sees a significant impact from client furloughs in the Dec quarter but expressed confidence in its pipeline and deal momentum.Wipro does not disclose AI revenue separately. “We track these numbers internally but have not disclosed them externally. We want to avoid repeating what happened with digital services in the past. Our focus is on transforming clients through AI and helping them become AI-native,” Pallia said.You use AI every day. Now get your AI Quotient. Take the AIQ test.