Wipro Limited's (WIT) Q1 2023 Earnings Call Transcript

For the period ending June 30, 2022

July 20, 2022 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, good day and welcome to the Q1 FY2023 Earnings Call of Wipro Limited. As a reminder, all participant lines will be in the listen-only mode. And there will be an opportunity for you to ask questions after the presentation concludes. [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 ma'am.

Aparna Iyer

Thank you, Inba, a very warm welcome to our Q1 FY2023 earnings call. We will begin the call with business highlights and overview by Thierry Delaporte, our Chief Executive Officer and Managing Director followed by financial overview by our CFO, Jatin Dalal. Afterwards, the operator will open the bridge for Q&A with our management team. Before Thierry starts, let me draw your attention to the fact that during this call we may make certain forward-looking statements within the meaning of Private Securities Litigation Reform Act 1995. These statements are based on management's current expectations and are associated with uncertainties and risks, which may cause the actual results to differ materially from those expected. The uncertainties and risk factors are explained in our detailed filings with SEC. Wipro does not undertake any obligation to update forward-looking statements, to reflect the events and circumstances after the date of filing. The conference call will be archived and the transcript will be made available on our website.

Over to you, Thierry.

Thierry Delaporte

Aparna, thank you. Hello everyone and absolutely good evening. Thank you for joining our Q1 earnings call. Let me first tell you that as I speak to you today to show our financial performance, I'm both humbled and excited, humbled to have had the owner of leading this incredible company for exactly two years now and excited for what lies ahead of us. As always I'll share with you a view on the demand environment and also offer some details on sectors, markets, service offerings, as well as business outlook for the quarters ahead.

Despite the uncertainties of the macroeconomic environment, if I look at the pipeline, our order bookings and the discussions we are having with our customers, there has been no slowdown or pullback of expense for us. The demand for our IT services is robust and I must say I'm thankful for that. Our overall pipeline is actually in fact at an all time high and it continues to be renewed as we are winning deals at a pretty good pace. High growth services like cloud, like digital, like engineering services or cyber security are seeing definitely strong interest from our clients. Led by our FullStride Cloud Services, more than half of our bookings today are attributable to these strategic focused areas.