WIPRO MAY SEE FASTEST GROWTH IN REVENUE AMONG PEERS THIS FISCAL

NEW DELHI: Wipro Ltd is set to report the fastest annual revenue growth among India’s top five software services firms this year.

Wipro’s performance will be the first for the company in the nearly three-decade history of the Indian outsourcing industry, where it competes with Tata Consultancy Services Ltd, Cognizant Technology Solutions Corp., Infosys Ltd, and HCL Technologies Ltd.

An industry-leading 12.2% sequential revenue growth in the June quarter has set up the Bengaluru-based company, spearheaded by chief executive Thierry Delaporte, firmly on course for the rest of the year.

Wipro does not give a fullyear forecast. Instead, it has predicted a 5-7% sequential revenue growth in constant currency terms this quarter.

Assuming the company does not report any sequential revenue growth in the third and the fourth quarters, Wipro will still end FY22 with a revenue of $10.01 billion, a 23.j1% rise from last year’s $8.13 billion, according to Mint’s calculations.

“We have guided for revenue growth of 5% to 7%. Even at the lower end of this guidance, we will cross the $10 billion annual revenue run rate, which we are very excited about,” Delaporte said in a post-earnings call with analysts on July 15.

“While we do not guide for the full year, you know that the Q1 performance and the Q2 guidance sets us up for well ahead of double-digit growth for the full year, even excluding Capco,” he said.