Wipro maintains momentum in deal wins amid a tough quarter

Wipro’s sequential revenue growth in the June quarter was in line with its guidance but failed short of analysts’ expectation. On the positive side, it showed resilience on the margin front while showing a sustained traction in new deal wins.

Like some of the larger peers, it showed a marginal uptick in the banking, financial services, and insurance (BFSI) vertical, the largest vertical contributing 34% to the revenue during the quarter. While its revenue guidance for the September quarter looks a bit more optimistic than its forecast for the June quarter, demand revival is likely to take a few more quarters.