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IT major Wipro said on Friday it was “pleased” with the current business momentum as revenue topped the $10 billion mark in fiscal 22. business is an important milestone for us. We are now aiming higher. Revenue growth was the fastest ever in absolute terms. , said at the company’s press conference after the results.

The company’s order intake in terms of annual contract value increased 30% on an annual basis in FY22 and the company says it closed the year with the “highest deal pipeline never recorded”. Wipro continues to see a healthy mix of large and mid-size deals; While the flow of large and transformational deals remains intact, the company is also witnessing a rapid expansion of small and medium-sized deals. “This clearly represents growth in our existing accounts as well as an expansion of our market portfolio,” Delaporte said. “Our cloud ecosystem, from a revenue perspective, grew at an accelerated rate of more than 31% in FY22,” the CEO said.

Wipro’s consolidated net profit recorded a 3.8% year-on-year growth of ₹3,087,000,000 in the January-March quarter, broadly in line with analysts’ estimates. FY22 net profit increased to ₹12,219 crore from ₹10,794.6 crore reported for FY21. The company’s revenue in the fourth quarter of FY22 was ₹20,860 crore, translating to a decent growth of 28% year-on-year. Revenue for the full year grew by 26.9% at constant exchange rate to ₹79,090,000,000.

“The business environment is very good… demand for IT services is strong. … This is reflected in the state of our pipeline, our order intake and our overall growth rate,” says Delaporte. “We have forecast revenue growth of 1% to 3% (for the first quarter of FY23), which will translate to growth of 16% to 18% on an annual basis in constant currency. double-digit growth for FY23 We are very optimistic that this business will continue to strengthen at the start of the new fiscal year,” says Delaporte.

Customer spending continues to be healthy and the company has not seen any significant impact from the unstable macroeconomic environment. “I think customers are still on the trajectory of 2021. I don’t think I’ve seen many customers who suddenly slow down investments or postpone them. In our set of accounts, I don’t have a customer in mind who would tell us that we are no longer investing for the foreseeable future,” says Delaporte.

The company, although continuing to be vigilant and watching the evolution of the market, is rather “positive for 2023”. “We tend to be more on the solutions side for customers. We’re more of an option for them or a way to improve productivity and so we’re not necessarily the first budget to cut,” Delaporte explained.

Wipro said its quarterly annualized attrition rate moderated by about 500 basis points. Chairman and chief human resources officer Saurabh Govil acknowledged the “pressure” on the attrition front continued, but said the company had enough inventory to handle all of its demand needs. The company plans to double its consumption of freshman products in FY23.

To retain employees in a competitive market, the company “has decided to increase the frequency of promotion cycles for 70% of our colleagues in the junior bands to a quarterly frequency”, specifies Delaporte.

Shares of Wipro ended at ₹509 each on BSE on Friday, down 2.59%.

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