Wipro Limited (WIT) Q1 2024 Earnings Call Transcript

For the period ending June 30, 2023

July 13, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, good day, and welcome to Wipro Limited Q1 FY '24 Earnings Call. 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 Mr. Deepak Kumar Bohra, Senior Vice President, Corporate Treasurer and Investor Relations. Thank you, and over to you, sir.

Deepak Kumar Bohra

Thank you, Yashashri. A warm welcome to our quarter one financial year 2024 earnings call. We'll begin the call with the business highlights and overview by Thierry Delaporte, our Chief Executive Officer and Managing Director, followed by a 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 the SEC. Wipro does not undertake any obligation to update the forward-looking statements to reflect events and circumstances after the date of filing. The conference call will be archived, and a transcript will be available on our website. Over to you, Thierry.

Thierry Delaporte

Deepak, thank you. Hello, everyone. Welcome to our first quarter earnings call. Joining Jatin and me today, we have our Chief Growth Officer, Stephanie Trautman. We have our Chief Human Resources Officer, Saurabh Govil; our Chief Operating Officer, Amit Choudhary; and our Chief Technology Officer, Subha Tatavarti.

I'll start today with an overview of our financials for the quarter, moving into some details of our business, the demand environment and some direction for the coming quarter, okay? Then Jatin will go into greater detail of our operational metrics. And of course, we'll be happy to answer your questions after this.

So Q1 was another quarter of robust deal closure for us. In total contract value terms, we closed large deals to the tune of $1.2 billion, which is a 9% year-on-year growth and actually the highest bookings in eight quarters.