Wipro Management Explains Q1 Results: I.T Services Revenue Declines, Demand Trends & Challenges

Wipro's management has provided an explanation of their Q1 results, highlighting various aspects. The net income has seen a 6.2% increase, while the attrition rate stands at 14.1%. However, there has been a decline in IT services revenue compared to the previous year. The total bookings amount to $3,284 million, with large deals bookings at $1,154 million, which is a decrease of 3.1% QoQ. During their discussion, the management focused on operating margins, the outlook for the IT service business, and the current market conditions. These insights were shared on ET Now.
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