Wipro's large deal wins fall 59% and it guides for a flat December quarter

Wipro’s net profit for July to September was ₹3,201 crore, down 1.9% from a year earlier. Consolidated revenue rose 9.1% to ₹24,753 crore.

The IT services business, which Wipro tracks in dollars, earned $2.61 billion. In constant currency it was flat from the June quarter and up 0.6% from a year earlier.

Bookings slow

Large deal bookings fell to $674 million, down 58.6% from the June quarter. Total bookings were $2.6 billion, down 22.9%.

For October to December, Wipro expects IT services revenue of $2.571 billion to $2.625 billion. That is a range of a 1.5% fall to a 0.5% rise in constant currency.

The operating margin was 16.5%, slightly lower than a year ago.