Wipro’s FY25 revenue growth plunges for the second consecutive year

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IT services major Wipro reported a year-on-year decline of 2.3 percent in revenue growth in constant currency (CC) terms for the financial year 2024-25, coming at a time when the company is undergoing a business overhaul under the new management amid macroeconomic headwinds.

In FY24, Wipro’s CC revenue growth had decreased by 4.4 percent year-on-year.

The company has now also reduced its guided revenue in the range of -1.5 percent to -3.5 percent for the first quarter of financial year 2026 ending June 30, 2025 (Q1FY26). This is a deterioration from the earlier guidance of -1 percent to +1 percent in the previous quarter.

Srini Pallia, CEO and Managing Director, said “We closed FY25 with two mega deal wins, an increase in large deal bookings, and growth in our top accounts. Client satisfaction scores improved, reflecting strong execution and engagement. We also continued to invest in our global talent and in strengthening our consulting and AI capabilities.”

“As clients remain cautious in the face of macroeconomic uncertainty, we’re focused on partnering closely with them while staying committed to consistent and profitable growth,” he added.

The IT services industry and its customers are currently waiting to see the impact of US president Donald Trump’s tariffs once it gets implemented.

Meanwhile, country’s largest IT services company Tata Consultancy Services (TCS) too had reported a 4.2 percent growth in CC for FY25. TCS too saw a second consecutive year of low single-digit revenue growth.

Wipro reported a 6.4 percent sequential rise in net profit to Rs 3,569.6 crore for the quarter ended March 2025, while gross revenue rose marginally to Rs 22,504.2 crore. The IT major’s operating margin for the quarter stood at 17.5 percent, expanding 1.1 percentage points year-on-year.