Wipro Limited (WIT) 15 Jul 212022 Q1 Earnings call transcript

Ladies and gentlemen, good day and welcome to Wipro Limited Q1 FY ‘22 Earnings Conference Call. [Operator Instructions] Please note that this conference is being recorded. I now hand the conference over to Ms. Aparna Iyer, Vice President and Corporate Treasurer. Thank you and over to you, Ms. Iyer.

very to A ‘XX QX Margaret. call. earnings you, warm our welcome FY Thank

the business Q&A followed call by begin open Jatin will We with operator the management our overview our will and team. Dalal. financial Afterwards, Thierry bridge highlights CEO Managing our a Director; for by the by CFO, with Delaporte, overview and

Private detailed any attention make SEC. does Before Over cause filing. will the differ date those Thierry. and materially Thierry to risk meaning Securities uncertainties we that may from The to certain expected. during obligation These based statements events HR. fact Reform The statements the of starts, call which associated results let you, expectations and available on on statements Litigation the with our and uncertainties not Wipro to me XXXX. filings to Act undertake factors management’s may of our this conference to the and the in a be update actual risks, draw and forward-looking explained after the reflect forward-looking your transcript with will within archived are the call, circumstances the be are current are

second colleagues an loved around off that I have write hope, and world. Hello, we well. and Thank humility future our of you you you. the not suffering. grief, from better India, difficult the for maybe stress, ones Many for very wish all today. joining many pandemic, the I And experience coming us wave of their lightly. of experienced thank Aparna everyone. during the period with of you you so holds Those days This joining in out of is believe everyone can

those XX months, support affected. Wipro in Over to the has way up possible every stepped past

a onsite many force, established our oxygen Indian resources possible the task continue and leadership in we up which for Sanjeev, testing. time. isolation relief with one led our provisioning, the so employees Wipro. in our insurance many toil more in their some wave. almost admissions to city every our gone able Pune company about recognized for to family. also more a we a COVID definitely than with in the our medical world. We in Unfortunately, few of leading Wipro’s India, dedicated last done more such We and best. in available hospital Presently, care a I we specialization our COO, jobs so But team In of actually pay our our enhanced force dependable will second offer Globally, colleagues resilient, colleagues. have people and and made we managed extraordinary Wipro an through with This to strong us steering the operating of seeing the relief, Wipro before. facility we partnered we custodians and our people, to that role around results what And virus to starting mental innovative broadly, community, the members this strategy, spouse to task family operational by spirit such giving hospitals continue of for and to on team. made leaves care coverage. have we emotional for I quarters for and sick is and have the lost their we centers and treated want operate patients business our have from or ever for model of hear of our COVID managed Wipro’s are reflects agility hospital simplified the to priority Saurabh were cities. approach stationed who some are do them long have some are we mindset ramped offered way continuing and campus, during more cases, from India off. Clearly, our providing business my We Our everything bring colleagues vaccinated COVID the being efforts our has employees a as has gold in thank say things are XX% and employee in relevant of vaccination X,XXX customers. provide have health and far, us to they are sought campuses. our treated new stronger, employees being small us, have and a in for COVID They has around This

Our show buoyancy. considerable to QX continues performance and expansion therefore

to continued our remained has trajectory growth revenue healthy sharp show have improvements. perseverance. execution Bookings showed Our remarkable and

me share now specifics. Let some

report in saw only tremendous offerings. sequential is quarters. Not the service QX XX an translates Our This XX% well quarter quarterly range is ever of XX.X% which best year-on-year terms. growth overall excluding This this all across constant sectors and revenue and growth growth XX.X% growth the currency was during really almost ahead was that markets reported volumes top organic terms in us by into on terms, in currency highest and end Capco. of we result, strong basis all guidance on our constant led a both the also across have delivered the

strongest Our Revenues very therefore, was during you much. our Thank also the ever. the of Capco billable guidance. the headcount quarter, latest was addition ahead from acquisition,

of I I all couple heard to I it. before actually that realized Sorry lost you you. of seconds

am I So back to the specifics. going

guidance terms, volumes constant strong across by basis, but is translates into quarters. QX the on sectors, we also in almost delivered the in reported have sequential quarterly top organic So, on all first currency XX% markets highest was growth offerings. end constant This only results, of This growth service year-on-year an was overall us XX.X% our in revenue range, also terms. this excluding of growth best saw is Not quarter all growth well report during both our the ever capital. the currency that tremendous a XX led ahead which is and XX.X% terms,

ever. the from acquisition, of the strongest billable was therefore, Our latest headcount ahead Revenues during guidance. also the addition was our quarter, Capco

environment, looking the is environment our the is demand quality Now, of robust than pipeline better overall at the and before.

quarter you over Americas solid addition market, increase witnessing growth and participation Our in resulting during exceptionally sustainable post we operating and At acquisition shared marketplace. be of XX% But the between of strong the in this Capco continue the margin deal wins At large channel a smaller seeing deals to deals. was was were the markets medium-sized X of in are that dilution of and long-term the all we our deals, large band strong. announcement closed Surely, a the We X TCV are we point, have with $XXX large, mix demand. of XX.X%. million. good in to Capco,

consolidating results range During the XX.X% of above in well after significantly delivered X quarter, months chain. Capco that at talent we investing and supply and have margins

of We of have financial have in added over the last year XX,XXX in all is employees highest the and on what a we which decade. net added XX% basis, last

add year-on-year, The seen capital. me year-on-year. markets a ease currency sectors service verticals the strong on all business double-digits color driven for let remained In business Capco XX% constant volume and while Americas Most has of further grew traction There X, have without All BFSI top all demand are significant basis reference. with year-on-year by numbers our grew is offerings our in our XX% sector traction, quarter. performance. Now, underlying broad-based. XX% by high-tech performance. of growth even the the The elevated a markets In strong and business across slowly. front. obviously across is three from X, some a grew to we strong is health recovery making The Americas consumer increase. manufacturing we leading has the this year-on-year in this grew

as large business on back as growth and has the UK, European wins delivered Europe Southern Our of year-on-year Germany a led Capco growth. acquisition. several the deal of this well XX.X%

APMEA the our From grew seeing IBS markets, Zealand line in at XX.X% New we Our Asia. growing. improved grew now healthy growth. The of sub-practices business year-on-year. showed by healthy year-on-year Australia, Southeast XX.X% and moderately in quarter-over-quarter Most a X.X% pipeline service a are global and environment and these offering standpoint, markets and are

age to industries shift in and And and I for. look partners, cloud to you will cloud-related making number unmistakable. commitment demand be like our to out in a coming the significant is clients We a business increased seeing new and growth of further geographies hyperscaler The offerings which different the cloud to few we about in are our encourage We cloud weeks, wins transformation. announced announcement months. in last

line a grew business sequentially global by of infrastructure in services grew Both large practices, on iCORE year-on-year. our and basis. XX.X% year-on-year X.X% and digital operations scale double-digits Our

new terms. currency $XXX grew We account the X customers customers over million Q-on-Q XX.X% and million XX category $XX year-on-year top XX.X% in customers category. and account constant in X the to over added Our

of you sense winning. of give deals me a the we let Now, kind are

secured contract by portfolio the the to we services to experience end-user cloud first attractive multimillion based intelligent a cloud The to from streamline on-premise First, a operations, enhance consolidation will multiyear consolidate U.S. well ease entire as approach. the quarter company operations this using create infrastructure using migration healthcare as and application dollar and user automation. opportunities digital

the contract and working. modernize leading has requirements access, so a cloud European Internet manufacturer and automobile security a transform remote meet their can does Second, already to they of

data from leaks, threats, enhanced cost protection Our solution advanced corporate reduce provide and provide will protect security compliance, scalability. cyber

distributor journey Another their and example, Wipro encompassing based quality transformation U.S. leading data development of CRM in to plumbing lifecycle, implementation, by a has applications. migration embedding cloud support legacy the selected supplies engineering

multiple than in business for cloud Additionally, store customer services locations. ERP agility and business Wipro covering more resulting across experience managed will functions provide and X,XXX improved

of most April completed at will acquisition of of Capco we our you the know, As XXXX. end

Over are feel into months, gradually last start inducted that sure and X the have they Wipro at to made home. we

some is build well our are on these to have we seeing the good synergy we go-to-market continue days momentum early surprisingly, pipeline While Not early shaping and wins. started efforts. obviously, joint

we framework example, a for platform XXX for regional a win consulting digital provider, For move will and a migration the we payments global cards. with create to new to where leading merchants debit banks have joint

X% cross of billion announce such this the We next more very wins lower our finally, at end will revenues, growth will outlook Even of continue run-rate of to have for are we the sure. annual X%. for excited to about. we And on for $XX the which we guidance, guided revenue to quarter,

the guidance year, for While of year, ahead even sets us for the guide up the full for growth performance well that, double-digit know we QX Capco. don’t you full and QX excluding

sharing become last talent The development. said organizations you will success This our be that traditionally of has remote a more with attrition pandemic markets adapting engagement notions acknowledges labor year, has had environment has a is and a factor. to mobile I issue. and made Wipro shift universal and how overturned critical and sectors dramatic quickly. new talent working Therefore, While liberated. this all strategy across approached higher

existing intake down world from the We as have our doubled well as reskilling increasing workforce. across on campuses

We will more onboard ‘XX in XX% the previous year. freshers versus FY

onboard talent supply We and the to Growth will also is in our is X,XXX we ambition. to not in we that inflationary intend people short-term, our costs. QX In priority ensure pressure experience constraint freshers will some itself. a

effective We employees X, year. our have announced a this calendar in second salary hike the hike for of XX% September

on growth over of to comments Now are me that On to remaining sharp improvement our hand that quarters over with Jatin the year. you. optimistic are momentum trajectory Jatin, let on in financial about the we building the and summarize, note, to we for pleased his financials. the in

and Thierry. financial for performance. you will you, call. ladies the Thank I summarize evening, our joining Thank Good gentlemen.

have XX.X% in reported from terms QX We year. last grown of

and grew to in margins audits compared certain for XX.X% basis Overall, Our lower of net in XX%. tax rate is are XX.X%. points one a whereby our EPS closure our grew QX year. at XX% income quarter operating had one, our of We taxation quarter last matters XX our

about me Let cash flows. talk

the have managed standpoint. quarter from We well DSO

ForEx one of billion net net our days $X.X quarter our flow XX.XX have of income of billion $X.X flow end of had one. one. deliver good gross debt net our at it We of improved in helped performance. cash at in to at of of of cash end of cash us about one. and a quarter DSO We operating We free will XX% net I quarter and X quarter has income. a the now by at days had XXX% deliver realization XX cash the speak That

one. We the have at of quarter billion $X.X of hedges end

guided that have we X% sequential mentioned, are currencies to growth Thierry on As for the mentioned press our X% release. in

happy will Thank to We be questions take from very your here. you.

ahead. Sudheer of the much. Please very question Instructions] ICICI you first go Thank Securities. line [Operator Guntupalli is The from from

gentlemen. four doing onset on Good in the Yes. vertical tracing perhaps Wipro footprint this most applications over health other Thanks well last been quite BU, of players, good Congrats companies, Thierry, top for five the the logistics before work hoc had vertical evening COVID. ad And strongest have quarter. giving the been the first to etcetera, the opportunity. given quarters, areas on for Indian across has vaccine a My healthcare me management, the even five or like in contact companies etcetera. doing question,

Wipro, for why quite However, the color quarters, this is case? vertical And including to several this current one. the going forward? on soft previous is the has the been what over outlook this Any as

sales in turns been at that the we best the were when out healthcare in know, looking quarter, the You one the of sector. the quarter performance it performing – has for sales

a have nice we think I position. So

other showing growth a our year-on-year in quarter-over-quarter. America, is It’s X.X% it’s It’s There revenue, in lower are sectors. in some health from particular. than a clear, nice improvement We XX% growth growth business. little

think same. remains ambition I So our the

continue sector. healthcare. will to we into We in our are mode strategic get sector. of we invest will sector to this back continue in in But It’s stronger one and growth this

foreseeing Ampion, X% I Thierry. quarter range being especially demand Any at of to September headwinds likely are constant impact Or Sure, of guidance, This Are of at the in here? appears we a and momentum the a the in about. in the be X% excluding on look question, are second this little guidance we my context muted, some juncture? currency this if may little for trend? terms. conservative the Capco And we growth thoughts talking the

You’re talking now? about QX

Yes.

to not be math we continue to are accurate, perform well, Okay. continue seeing frankly. No, your grow no. No, I’m no, sure not we – headwinds. any to And and I we well. Actually, honest, is don’t

nicely – what is to to Capco continue in will business well. to they we to going as Capco quarter, next call They the think this continue grown grow. the I have grow continue But the quarter. well grow before

to So growth X% more. X% going you be the it’s to not going to way a it. It’s be see

Sure.

the What Just be some that? any organic on guidance growth quarter? the next would color for

we Thierry’s it but commentary So not from it. see are Sudheer, breaking accurate we out, way is the

not we traction Capco completed We or will Capco yet, even well without as in MPN as – see strong organic both And Sudheer. is numbers.

the during it the complete of quarter. will We course

best. if the Thanks, from Jatin. All That’s my side.

Sandip Thank you. The next go Please Agarwal question is from the from Edelweiss. line ahead. of

and on very Hi, excellent an and congrats good Yes. [indiscernible]. Thierry evening, quarter

a So, turnaround I big Thierry, question I have we near-term a a little bit strategic because seeing and the industry. am not in asking for are

engine two growth? on changes? same you much to in the your how those have in Making now? how of growth, strategic stabilizing right and proportion customer time time joined, Building your in want I experience when So you focusing were – were curtail operations? sales Since proportion you came spending know start have you are team? you line you’re building of things. spending much still path That the versus in, in change your the delivery the Choosing what time you the of the to is – able you marketing number and the same as So one. joined? when been is and of times or And

no demand but very that few they existing, are take a which growth? we is are proportion That number know will basically, time how manpower we have less chasing monopoly in you what is in to fact, software how monopoly since And wanted services, competition understand country monopoly where situation and reality also mean outside you execute start two, much focus is there virtually more to are where are is now to of been dependent before joined? to which on on is single you much our there growth, dealing although a and the And growth So stabilized outside probably India that companies number have is from XXX% And teams and I India the is supply India want stabilize are the a is by one. situation. I that in with. I

seen and you of years say Thanks which for is XX of at to any the you that years what that now that open-ended any question this last year, I’m do quarter any or guidance next a investors? for something for would or seeing least my you are X why from you lot. refrain double-digit specific can the not asking years, and not in giving at kind would have Or comfort So, guidance least X, have today? comfort of XX kind you the but

Okay.

Okay.

for which to next growth two, next for So for is outlook outlook quarter, number quarter. growth I’ll come the back point the the okay,

question was and question? your was, remind first it. it I tell first to Just me me forgot write do words The because down. I’ll two the What

of know change to you... want time, just in I which your the proportion

Okay.

day. Yes, Okay. it’s been long a

I – So my me. telling memory is

X Wipro, So engaged at clients. day with I’ve

else focusing way timing day and my say So I’ve I would to never tracking from my XX% clients. focusing done on I’m X. talking of the If at, I’m look anything and my time it’s time, I growth than

directly all look on much and But about every say So level. so people going, with operations, connect what at that’s to really about XX%, And the as aspects It’s only clients, trajectory operations. of of not different them, not so my – the really we is strategy. XX XX%, with to our and operations explain would share back the strategy. I groups why that’s It’s XX% those XX% about of ambition, with on time, and from at XX% where engaging priorities, it’s okay? employees, sorts front. connecting are engaging

like opportunities lines. these and Capco, for do we at us looking and the how priorities along And what strategic so progress it’s are

that, about – to have time Every growth, clients, the since we organization. than on you inside anything meeting, on time okay? for are really time the what on it’s and strong we’re is and of market is is talk okay? talk you not else for is operations. deals, It’s are very what about share. second areas good grow. be need we companies. doing, outlook next our growth I’ve that question to to your your client. market we for a this years, focusing talk It’s be question, to very demand, take clear interest honest, a clients, a there the On to But focus stopped the never market I’ve for we to on the seems do focus about about – and the So time obsessed It’s we in

to So, really journey. cloud because the high for are and going talent, shortage of we after there data, in areas in here digital point are some cybersecurity, around is talent at All you around time. around where it’s is demand attrition said, going these high transformation, And demand. in in be there environment we an a – topics around sure, are as

And predict investing next They are in can are, are is quarter, had clients, industry continue think, we that working we will will the so be very years. quarters. so. cannot because market term are attraction, a good today. every continue in transformation technology But that of in for I company, the and attractiveness for We’ve potential is from terms are good the for sectors, hiring, and the My view predict driving we good every demand the impact people next of or high employees certainly a well the for program. growth next on with positioned. that we to do there perspective I to very the I

in are very they so with I transformation it’s significant our see – engaged and in that And visible clients program. connecting

promising us. a for for foreseeable future market So the definitely

luck quarter. best thanks for time. Sure. your wish future you And and a lot I for thanks the of

Thank you.

The ahead. go of Thank next question from you. from line Nitin the Padmanabhan is Investec. Please

Hi, everyone. I questions. two had Yes. good evening

going on in it almost core and the there. The Just you first Capco, driving I be look second, the terms and financial in utilities the one is, business is, headwinds wanted thought forward? underlying a any one process And on broad how I what’s business? energy the looks if think thoughts and the tailwinds? about there. revenue, do takes of at excluding the do just we margins that the flattish. think environment services strength would second puts or your BFSI vertical? the on thoughts And And What

Alright. Okay.

a So couple questions. of

your around the for the first quarter. So growth reading first one of is the

okay? first part reported QX. we in quarter, okay? Capco’s will is but currency the in by growth, the be the delivered growth contribution it’s in it’s strong And Capco reported of terms organic growth are in on a XX.X% a overall, strong organic, very has Capco, in growth. XX.X% the quarter-over-quarter So terms, So growth is organization growth the XX.X% X.X% still QX, to Capco terms before generated the been Wipro after communicating strong. year-on-year. X.X% therefore, constant of Of

but – this quarters agenda, itself. we profile, for expense strategy, a probably to said margins. margin the are think, very I not are is growth growth to ago we’ve the is drive said, what So three we The growth we’ve of probably to What it’s four consistent. going

and protect Capco qualified XX.X%. that at margins the have have we acquisition. the will level XX% We done sustainable between we Then and maintain

foreseeable have going around impact to XX%, be consider to be we said that seeing therefore, margin it it? we XX.X%, we the we the a want where color XX.X% would have doesn’t change the that to We this OM X We’ve quarter, you are margin is better are the for on give our our more future. points but our – – of Capco way will done Jatin, margin level and profile.

Thierry. Thanks,

in in this Xst So a done maintained certainly, you’ve increase gave the the and because for And spoke player. quarter in every we you junior salary market of growth have invest people And on us, in and that for key we way differentiator have is one. we to Thierry priority. opportunity environment, we for have it, we Nitin, it, year January. looked and four, so. appreciate current we that quarter about have remains at staff delivered have have our also that growth would And We always the delivered a to it be a that seen and

September. to We increase a going salary Xst are give in them again once

our senior have we salary months X in which impact staff, increase For Xst come quarter June, will two. in given for

the is to we invested remain will has share. make what we continue to said and pyramid market in will there and leverage, of heard to we – talk the offshoring play offer this are So fresher do. talent definitely big we you addition Saurabh that are Certainly, in to to out capture capture is that one sure Having kind quite we year one, that, going the that about levers thing which continues well.

leverage Fourth automation. play this we is Third organization in is scale this. can drive that across we operating that like productivity a scenario growth drive out leverage can that on rotation can

have we very on. But And with on fine work on. quarter outlook, on you revenue, forward. we from Thierry, will we So and most focused we move that in many remain mind. continue balance as seen, there will as commentary what that’s levers will remain are focused you the margin make keep medium-term we that. to of significantly we heard one, a But But our they delivered have

helpful. That’s Sure.

one people, with followed well, – similarly, the the would it senior after as that salary the that. of senior So for would mid-level XX% be September beyond for management and increases expect

Jan follow-through as and for we this and in see be it Is the of salary another to that impact? mid one every quarter had quarter had ask So senior in a This kind post of senior. well? Would the kind increase should we – year would a September what for about is similarly one how next – full is think trying it? and we quarter mid-level in I’m

senior. the plan is cycle, It in the There normal is – the No. not plan which in everybody. come for the next that. this annual for fiscal no will now here, to The is give Saurabh cycle is

will second from which the junior a everybody the into are normal cycle after now next. for September doing get in we the So people, cycle,

strength driving vertical which utilities on and Sure. the That’s My and helpful. the missed last what’s we there? energy question, was

Thierry, I’ll and that. answer go ahead

Okay. I was mute. on

Go Sorry. ahead. Go ahead.

Okay. problem. No

So as growth Nitin, good the the and little is a And the market lumpy. back, seeing energy we traction coming for remain are will demand in utilities.

for have I’m quarter. will it think So that the lumpy. we performance very current remain the delivered happy But with I

on that it’s project again in very have offing are up. growth and another we in We that progressed of not quarter XX% two. ramped sort well a But seeing once

we lumpy remain go forward. would it So a as little

Yes, exactly. Yes.

So that’s to say. was I going what

the here. at energy look we business sector, have and healthy utility you If a

a for will have a growth at exceptional good is think this here little a it’s The going bit we for it that We and good shows this pipeline. forward. But sustain don’t that level seen sure. necessarily us quarter you’ve I sector

helpful. That’s best. Thank much you so and all the

Thank you.

you. next from [indiscernible] The line Select of ahead. go question from the Thank is Please Capital.

evening for Yes. questions. Hi, guys. Thanks taking my good

questions side. two from So the my

– capital and second ensures been you the first quarter also if First for is flow doing here the basis just rate just Thierry, we’ve course, guidance will asset integration. able organic higher much on quarter – than even wanting to wanted the understand growth an be that growth to that to of we this year, double-digit great exclude

of in this are do momentum of in of saving long, we get is perspective to your quite think think demand terms sustainable terms I I that in large growth deals on we had before the a terms rates. for underperforming mean, while wanted how Just growth peers you environment? for

of low continue or believe peers to that able with the all, base to our well? at be this by at slowdown you par given least So see be were momentum year, of demand growth for environment year, do was a do that onwards and well as current you us upside and environment [indiscernible] that which coming this pandemic ‘XX course, enough off last we impacted given

assume can you at grow pace. that So the mean, to definitely nice will I we continue

competition. the high we at if this and end performance to believe look I excluding growth industry, see Capco, again, of in at will be compared interesting okay. of you at with will – sequential QX, the look be it our the you the If how in even year-on-year –

given for already guide I are strong. for growth we are the that’s, relationship said, growth the of QX, know with the and continue well on, not a the we nice volume going grow and to your we clients, from pipeline, tell see how we beyond And quality standpoint. so in given opportunities solid So our that, given our given this where strength being cannot will as the going, things will that but of as although and of we capabilities. our I We double-digit year know solutions

can good showing growth will that a for time. assume of you So, we be period

conversations getting? third with regarding concerns the Any might that your from we be COVID or Any fourth pushback of clients? kind

voice came I muffled. Sorry, didn’t your hear.

any You concern around said what?

question My any then concern maybe your with and watch and wait come continue was looking to and or sorry. might COVID wave the from maybe their across are with that funding? you clients fourth third Yes, regarding clients if just conversations have

Yes.

Okay.

Okay.

was COVID, your So, specific understood. to question

So, incredibly every in been and QX. mean is challenges, for country through it’s these challenging going India, particular, I certainly in

me, for And delivered have so this as context you very despite India, performance trust a difficult or we in know.

productivity teams our our clients. strong with to growth last of showed quality and no and think I very work ability work deliver months the loss strong resilient have and and been XX incredibly really strong to over

well. in our and we not, the has industry whether it current adapted learned, pretty like can think that is environment I work reality or

from environment. So, preferred can growth But definitely a definitely prefer a sustain option, COVID. world without that it’s I despite standpoint, we difficult now to my a business I continue health think

capital side, terms or have be I payments the made integration, that. been hear from one the to required of question in – that are Great they would just last made, to made. assume all Sure. Jatin, are that my

top of are So, to that, recently. raising stance billion just are get wanted already having as around of million cash. on we we bond $XXX your on of And $X.X

what some or low preparing the – this? are mean company capital – that. it get Is we as perspective to is to cost So, why as I war something chest the just of for doing your for wanted other on else,

Sure.

the inclusive. million billion this have proceeds come net cash is $X.X is bond So, gross it of so of in, of after $XXX

Capco. healthy because as wanted our it did accruals we mix and of we is Second such internal acquisitions large for keep debt a to

not historically is the other on for size that. is our of sheet, or is created We cash, goal. retain line sheet, Capco. in a and you it the active and for for any have we it the in It other also, purpose. – purpose some that’s you the watches something would specific done it as if for flexibility It purposes on see specific with And balance the balance should see

And for acquisition Capco the the made? all been have payments

is completely. Thank That completed you. in quarter one

Thank you so much best. the guys. you I wish all

Thank you.

from Thank the Emkay of Dipesh line from next Global. Please is ahead you. question go The Mehta

the for A strong Congrats Thanks few questions. opportunity. indication. Yes. for

fuel deals any up can to slightly is to lead First business led is to Capco’s surprises? which Second us you is this this on seasonality Capco, broad-based or medium-term. of positive it beat what question in surprise, or even Thierry, all, on ramp or organic help understand there this growth, And some is side? whether very led one-off quarter on

some expect provide or business. can that services Now or we is SRE seeing to we something over medium-term India slightly have about third And you linearity play have if business seen you perspective, Do strong some into you think through so how remain automation now medium-term? do environment. can are question either from construct linear, we business pricing out linearity maybe largely demand very

have improvement seen we quarters of in consistent, profitability. Now and substantial steady performance last few

provide outlook SRE some you can if Thanks. So, on India business. of profitability medium-term

Okay.

linearity seasonality, of Capco business, revenue. Sorry,

and a the question on Why growth. Capco strong So on first performance on growth. really such side, no, was the our

one somewhere or No, or and large – one-off deal easily units your It’s I So question, strategic to regions. a across our clearly can our big been no. across from say has really having market it’s coming it’s that or one broad-based. impact not respond thing

seeing opportunities and everywhere. demand are growth We

It’s gives also what it’s deals splendid many based because us many, on win. that’s confidence everywhere. not one So,

playing Capco solid. in seasonality, don’t be is there is not it’s but there will Capco, Capco, playing think that – I seasonality QX. actually a particular. normal a not QX anything in is So, it’s quarter. in

and know Capco softer the having being it’s showed the is Capco trend the and in is But XX% in summertime or think I summertime. opportunity well. as said you traditionally by strong Europe growth that team a because that, little Europe, vacation

and to leverage will work can surprise and well. think way continue, there I it the it think synergies we us way it’s as be we clear I of will the Linearity that of platform, So positively develop will continue revenue, as we opportunities my a of a the will to create two disconnect that parameters. growth between is part, continuity of view linearity slight can raise the best leverage prices, automation evolution. can But way and we certain the be those there between for level headcount the

So, several been you for recovery has It’s I a in will mode that Last, well. business fueled should be the best SRE growth assume by business, quarters. growth for doing SRE headcount think well as the part.

think I and getting stronger. stronger it’s

work [indiscernible] Sanjeev done last the market. And the our our by in so the position COO I by reinforce years, done this think to work now continued and in

know making for to points? our to define agile, want probably want clarified I we invest. around you also us think where we Jatin, add don’t want more versus anything more consistent it’s our invest have We more and well to focused strategy places where those we And as clients. and

should I good model modeling a terms from point so, is three a quarters Dipesh, that for would of segment. of which it – of given in had business, sort or add where standpoint, will single-digit very SRE numbers think we good I I is, have is you continue margins positive to a a and only a while outcome couple have for profitability last

– have say Thierry and don’t can that some have business. that us margin our XX% we I been business successful think we plus this given better we But completing of mentioned, projects, originally a anticipated. has a quite what We than in is long-pending outcome as

Thank much. you very

the is you. Kotak. Kawaljeet Saluja line Please ahead. Thank The from of question go next from

to that influence got from is it’s ten the context at me top XX have and it’s XX% top Fabulous acquisition everyone. or as Capco My remarkable around ten quite of top five your is of sequentially. revenues quite has the any sales accounts. well accounts? on has question to from That top unusual accounts Jatin, on Capco this And varies quarter the what question growth as that, curious

There and our customers in common XX of top has right. some been Capco addition of because is that performance. Kawaljeet, in that has reflected been

that Jatin. for Thanks clarification,

the account also that profile Now was my executive change a change in around remember a for that called is Jan. Thierry in account question of global by made global I structure. executives. And second

have that just benefits the does at wanted you if yes, right numbers? people about say of Not are this profile Now the the into when of you the that good, that seeing level? already curious do numbers but one it’s change to that. And start not good,

Y-o-Y take of Thierry point a like the is Capco that just aggregation to out, on rate respond even as if to would a clarify I said Capco that Kawaljeet, number. the to want ahead that ten double-digit we to company and top Saurabh I one to without that sequential – growth well add basis as on growth question, basis, it’s in what of you – respond as

without even growth robust. Capco aggregation, is quite So, momentum the

Yes, executive on are Kawaljeet. the right, account focus, you absolutely

building We in the really account lot running invested organization a large executive our accounts. inside have strong roles

We talented have new many executives. hired

We our best more them support. have help accountability, more ability, more spend but with more executive to time account to also get responsibility,

new, the typically, strategy. Capco, I the than the to large large growth are accounts And less growing they become mean restructured bearing have the faster were the model, the it’s our accounts really company. our company. accounts And again, central than the large excluding model past that so total definitely it’s in fruits. We even of growth growing operating

growth accounts the after that change made we the maybe organizational corrected, a something talent. seeing so are nice into impact investments be talent, senior these was And and have to of we on the and

Thank you. the All best.

Thank you.

is Sumeet next ahead. Thank of Please from go Goldman you. question line Sachs. Jain the from The

gentlemen. Hi my taking Thanks for question. Yes.

firstly, Capco also And from And exclude weak I verticals, in acquisition, wanted we pretty look health growth. media, growth broad-based a telecom, growth and care I to and retail So even if the I a terms high-tech manufacturing vertical. had has in growth, and understand, at industry services had the weak your come your of ENU. if financial

you just with wins? large industry want I largely understand of are of? areas our in deal verticals say comprised of million to So, what would broad-based $XXX what win growth deals terms in these TCV or are growing eight In deal

now the So, the consumer healthcare quarter, we would sector. Also we closed out in look sector, of the okay. that sector performance at in the I the looking clearly, if have are been growth deals you that BFSI have If say, terms sector, at stands performance course, growth consumer, from communications, widely, XX% very XX% by quarter-on-quarter strong performance. but quarter-on-quarter influenced are growing been of the BFSI, XX% from but X.X%, ENU, those from has Capco, XX% per revenue year-on-year. now, XX% sector, Technology

growth room And profile the quarter. say sector. there good. we always the say quarter I resume for better, is has sector sure. this doing next that The shown growth been manufacturing will the growth is hasn’t only would would for I So, But in

from the a So, really Jatin, view want you to that’s add? standpoint. sector

Thierry, covered No, have you it.

Okay.

that Yes. clarification. Thanks Thierry for

So, just wins. a your maybe follow-up deal on TCV

how $XXX million. us deal quarter-on-quarter I think you you behaved? give some comparison, a wins mentioned Can or Y-o-Y this

the two interesting what’s had we is deals that over of a know we quarters. have you had So, different last profile what

– one two deal. mega had had quarters, we Over every the we have time last

So, mega total. huge deal the impact obviously, the on has

the it have last the But – in at if ACD done performance, enough, two you look interestingly what we with it’s quarters. smaller Now as done deals. have strong we as we

not up we knew an per were engine deal geared one have quarter. yet we to creates So, that

have deal, But has of that the It’s build way, we We quarter. the for really in well, the and going and building good. it’s but really to haven’t this time. deals smaller-sized volume large, and to lost large up it’s any bit that deals by take been of pipeline medium medium a

a from actually performance. different in solid order and been the So, a segmentation in total for it’s previous you creation, it’s But of if quarter. overall, amount deals like,

with had we done significantly the for built quarter. than have better the better, plan We

within to guidance X% given X%? of last thing, the That’s will Ampion very in helpful think growth Can your I maybe get that when X% split X%, closed. organic Thierry. know the we this don’t to And out acquisition you

part the – So upon is now play, could growth Capco. and I’ll of is since take Wipro the that. where entity Sumeet, depending becoming main we from or either Capco come from customers, the

growth. first acquisition. being for in not give will So, think our I one we this one we because lies and number company an of aggregate this quarter shared success quarter But forward, out going it’s – for breaking the

X% to unable X% break am from that down I So, to standpoint.

you. Thank

and the Iyer question last to Ladies today. over now I closing that Aparna for comments. was the you. gentlemen, hand Thank conference Ms. for

time the reach nice Thank case Investor safe. and today. Have of constraints, any please joining for day, your you. team. to Stay good the feel not a due out call could you free questions In take night. Thank all to we Relations to

Limited, On that you. now disconnect concludes for behalf may you you of joining And Wipro Thank lines. conference. us. your this Thank