Stories
Wipro Large Deal Bookings Hit 19-Quarter Low Amid Sequential Decline
- •Wipro closed 700 million dollars in large deals in Q2 FY27, marking a sharp sequential drop of nearly 59 percent in constant currency terms.
- •Overall total contract value fell by nearly 23 percent sequentially to 2.6 billion dollars.
- •Despite the steep decline in deal bookings, the CEO remains optimistic and expects a rebound in the third quarter.
Key Questions Answered
Wipro closed $700 million in large deals during Q2 FY27, marking a sequential drop of nearly 59% in constant currency terms and a 19-quarter low. CEO Srinivas Pallia explained that while several deals were awarded to Wipro during the quarter, their paperwork was not completed in time, causing them to slip into the next quarter.
Wipro expects its IT services revenue for the third quarter of FY27 to range between -1.5 percent and 0.5 percent in constant currency terms. This guidance indicates that subdued demand conditions are expected to persist for the company in the upcoming quarter.
Wipro anticipates a rebound because contracts that were awarded during the July-September quarter but lacked completed paperwork will finally close in Q3, bolstering the current quarter's booking performance.
