BENGALURU: Wipro’s muted performance got amplified amid market uncertainties as customers adopted a cautious approach despite a pent-up demand for transformation projects.Wipro’s Q4 scorecard failed to impress investors, and its stock price dropped nearly 3% in early trade on the New York Stock Exchange.
Its revenue declined for the second consecutive year to 2.3% in constant currency in FY25 compared to a 4.4% drop in the year-ago period. In the March quarter, Wipro’s revenue dropped 1.2% in constant currency compared to the same period last year. Sequentially, its revenue dipped 0.8%.
“The macro environment in the context of tariffs has created a lot of uncertainties for our clients. Even though the underlying demand for tech reinvention remains strong, our clients are approaching it more cautiously. They are focused on cost, speed, and of course AI-led efficiency. The first thing that clients want to do is figure out how to reduce their spending during this period of uncertainty,” Wipro CEO Srini Pallia said in the earnings press conference here on Wednesday.
He noted that due to the heightened uncertainty, clients are taking a measured approach, especially on large transformation programmes and discretionary spending. “Based on our current visibility, we are guiding for a sequential growth of -3.5% to -1.5% in constant currency terms (in the June quarter).”