Indian IT services major Wipro Ltd on Wednesday reported a 25.9% year-on-year (YoY) rise in net income for the quarter ended March 31, 2025, driven by margin expansion and strong deal wins, even as topline growth remained muted.
Net income for the fourth quarter rose to ₹35.7 billion ($417.8 million), while earnings per share stood at ₹3.4, up 25.8% YoY. Operating margins for the quarter were stable at 17.5%, expanding 110 basis points over the year-ago period. Gross revenue for Q4 rose 1.3% YoY to ₹225.0 billion ($2.63 billion).
Revenue from Wipro’s key IT services segment stood at $2.60 billion, down 2.3% YoY and 1.2% sequentially. In constant currency terms, IT services revenue dropped 1.2% YoY.
Despite the top-line softness, bookings remained strong. Total bookings for the quarter were $3.96 billion, up 13.4% sequentially, while large deal bookings surged 48.5% YoY to $1.76 billion. The company attributed the uptick to two mega deal wins and higher engagement with top accounts.
CEO Srini Pallia said Wipro had ended FY25 with growth in key accounts and improved client satisfaction. “We are investing in AI and consulting capabilities while maintaining execution discipline, as clients stay cautious amid macroeconomic challenges,” he noted.
For the full financial year, Wipro reported a net income of ₹131.4 billion ($1.54 billion), up 18.9% from the previous year. Annual revenue stood at ₹890.9 billion ($10.4 billion), down 0.7% YoY, while IT services segment revenue fell 2.7% to $10.51 billion. Non-GAAP constant currency revenue declined 2.3%.
Operating margin for FY25 improved 90 basis points YoY to 17.1%. Operating cash flow for the year was ₹169.4 billion ($1.98 billion), representing 128.2% of net income.
CFO Aparna Iyer said the company remains focused on maintaining margins within a narrow band, despite a weakening revenue environment. “Our net income rose by nearly 19% this year, and our cash flow generation remains strong,” she said.
Wipro declared an interim dividend of ₹6 per share in January, which will be treated as the final dividend for FY25.
Looking ahead, the company expects IT services revenue for the June quarter to be between $2.51 billion and $2.56 billion, implying a sequential decline of 1.5% to 3.5% in constant currency terms.
