Wipro shines with growth in revenue and operating margin

Wipro has reported IT Services revenue of $2.038.8 billion (+4.3 percent) with operating margin of 18.4 percent (+0.8 percent) and net income of $346 million (+12.6 percent) in the June quarter of 2019.
Wipro at MWC 2018

Wipro CEO Abidali Z Neemuchwala said: “Our efforts on client mining have resulted in an addition of three customers in more than $100 million bucket.”

Wipro expects revenue from IT Services business of $2.039 billion to $2.080 billion with a sequential growth of 0.0 percent to 2.0 percent in the September quarter.

Wipro has generated 31.6 percent of its total IT services revenue from Banking, Financial Services and Insurance, 5.9 percent from Communications, 15.6 percent from Consumer Business Unit, 12.8 percent from Energy, Natural Resources and Utilities, 13.2 percent from Health Business Unit, 7.9 percent from Manufacturing and 13 percent from Technology.

Wipro’s Digital Operations and Platforms contributed 14.7 percent of the revenue, Cloud and Infrastructure Services 25.7 percent, Data, Analytics and AI 7.4 percent, Modern Application Services 44.6 percent and Industrial & Engineering Services 7.6 percent of the revenue during the first quarter of fiscal 2019-20.

Wipro has generated 58.7 percent of revenue from Americas, 24.6 percent from Europe and 16.7 percent from Rest of the World.

Wipro has 13 customers in the $100 million plus deal bracket, 23 in $75 million, 41 in $50 million, 92 in $20 million, 166 in $10 million, 259 in $5 million, 340 in $3 million and 564 in the $1 million range.