Wipro expects weak start to fiscal year

Wipro Ltd on Wednesday marked a second straight year of falling revenue, even as it braced for its weakest start to a new fiscal year amid concerns over global technology spending.

- Jas Bardia

India's fourth-largest information technology (IT) services company reported $10.51 billion in revenue for FY25, down 2.72% from the previous year, even as net profit jumped 19% to $1.54 billion. While the numbers beat analysts' estimates, falling revenue and rising uncertainties challenge Wipro's ability to kickstart growth, a year after Srinivas Pallia took over as chief executive officer (CEO).

A Bloomberg survey had estimated a revenue of $10.29 billion and profit of $1.48 billion.

"The global industry environment remained uncertain for most of the year, and of course, the recent tariff announcements have only added to that," Pallia told media after the earnings announcement.