Wipro has announced results under IFRS for Q2 FY2022, the period ending September 30, 2021.
Q2 FY22:
- Revenue was $2,580m, up 29.5% y/y, up 28.8% in CC
- Operating margin was 17.8%, down 2.5 pts y/y.
Q2 FY22 revenue share by Service (with estimated $ revenue and y/y growth) was:
- Americas 1 27.5% ($710m, +19.7%, +19.8% in CC)
- America 2 30.6% ($790m, +31.5%, +30.6% in CC)
- Europe 30.2% ($779m, +50.1%, +48.3% in CC)
- APMEA 11.7% ($302m, +7.7%, +7.7% in CC)
Q2 FY22 revenue share by Global Lines (with estimated $ revenue and y/y growth) was:
- iDEAS 61.3% ($1,482m, +37.7%, +36.8% in CC)
- iCORE 38.7% ($999m, +18.4%, +17.9% in CC)
Q2 FY22 revenue share (with estimated $ revenue and y/y growth) by vertical was:
- Communication 5.0% ($129m, +23.0%, +23.4% in CC)
- Consumer Business Unit 17.3% ($446m, +38.1%, +37.7% in CC)
- Energy, Natural Resources & Utilities 12.3% ($317m, +24.1%, +22.5% in CC)
- Finance Solutions 34.8% ($898m, +44.3%, +42.9% in CC)
- Healthcare, Life Sciences & Services 11.7% ($302m, +10.4%, +10.2%) in CC)
- Manufacturing 6.7% ($173m, +5.9%, +6.2% in CC)
- Technology 12.2% ($315m, +26.1%, +26.2% in CC).
TTM client distribution by size of annual revenues (and at end Q2 FY21) was:
- $10m+: 182 (166)
- $20m+: 100 (100)
- $50m+: 44 (39)
- $75m+: 28 (24)
- $100m+: 15 (11).
TTM client contribution to total revenues (and at end Q2 FY21) was:
- Top 1: 3.1% (3.2%)
- Top 5: 12.5% (12.0%)
- Top 10: 20.1% (19.6%).
Revenue guidance for Q3 FY22 is in the range of $2,631m to $2,683m.
Vendor | Wipro |
Initial currency type (specify local currency used) | US$ |
Period Ending | 2021-09-30 |
Growth | 29.5 |
Revenues ((m) in local currency | 2580 |
Revenues (in $m at that date) | 2580 |
Analyst comments:
While revenue growth has obviously been boosted by the acquisitions of Capco and Ampion, the underlying organic growth is also strong, a reflection of both current market conditions and also execution against strategic priorities. (Sequential CC revenue growth was 8.1%: excluding Capco and Ampion, sequential growth in CC was 4.6%). Encouragingly, there is substantial progess in increasing the number of very large accounts.