BENGALURU: Wipro reported revenue of $2.6 billion for the Dec quarter, marking a 1.2% sequential increase and a marginal 0.2% rise year on year. In constant currency terms, revenue grew 1.4% sequentially but declined 1.2% compared with the year-ago period. Wipro CEO Srini Pallia said that excluding the Harman DTS acquisition, revenue grew 0.6% sequentially in constant currency terms. “Growth was broad-based, with 3 of 4 markets and 4 of 5 sectors reporting sequential gains. Americas 1 delivered sequential and year-on-year growth, driven by strong performance in healthcare, consumer, and Latin America. Americas 2 saw a sequential decline, while Europe grew sequentially in Q3, led by the ramp-up of the earlier announced mega deal. BFSI continues to show strong traction with ramp-ups and new wins,” he said. Wipro acquired the digital transformation solutions (DTS) business unit of Harman, a Samsung company, for $375 million. Operating margins for the quarter came in at 17.6%, expanding 40 basis points sequentially over adjusted September quarter margins and 10 basis points year on year. The company closed a total contract value of $3.3 billion during the quarter, including $871 million in large deal bookings. For the quarter ending March, Wipro forecast sequential IT services revenue growth of 0% to 2% in constant currency terms, reflecting cautious optimism amid a muted demand environment.Tech Mahindra reported revenue of $1.6 billion in the December quarter, registering a 1.5% sequential increase and a 2.7% rise year on year. In constant currency terms, revenue grew 1.7% quarter on quarter and 1.3% year on year. “The third quarter delivered a strong performance, with most of our targeted market segments contributing meaningfully. Most importantly, deal momentum remained robust throughout the quarter. We secured a strategic, multi-year engagement with a leading European telecom provider-one of the largest wins in our history,” its CEO Mohit Joshi said. Joshi said all large deals are now AI-infused, and the company is working towards separating pricing for human and digital labour, potentially based on token consumption, supported by a Forrester white paper.
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