WIT - Earnings call transcript Q2 2022

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Operator

Ladies and gentlemen, good day and welcome to Wipro Limited Q2 FY ‘22 Earnings Conference Call. [Operator Instructions] Please note that this conference is being recorded. I now hand the conference over to Miss. Aparna Iyer, Vice President and Corporate Treasurer. Thank you and over to you.

Aparna Iyer

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

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

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

Thierry Delaporte

Navratri know thank I speak that Aparna, be the in join Durga you everyone. parts this and good quarter as Pooja. time. able really many to India to Hello you. It’s to especially again during celebrating are you us festive of today

to you thank you us. long. too So here for sure joining make keep for We’ll not

my announcement on this today us team. is Joining leadership

Dalal Growth Stephanie and Officer Resource Saurabh Chief Trautman. Human Chief Officer Govil, Officer Chief our Jatin Financial So our

last energizing. able it's is offices, with earnings to official special to met India, years, my to July took speak in year. This India from For me, you In been the personally, and three this a absolutely teams I've three I in last senior incredibly the call days, visit our charge first leaders Bangalore. since to is be

and very anticipation openness here. has can far. been your always been and eagerness Your in meet not they And and see It's campuses experienced disappoint. to teams you India But my welcoming. so great our hospitality did I've imagine our

course. many their over to the despite commitment, of their trust, we two with a dedication Of the very to the and staggered for In their are our course, of our the the XX% fully Chief GBL over encouraging those week, leaders, in travel, last leaders U.S. has regional of steered I've through world a of XXX,XXX I just parts Growth the the vaccinated is with of say, with are was XX% difficult every It Officer, are COVID-XX recommended meeting And CEOs our return travel globally that across of now are manner. our very thank I to time vaccinated essential business. of key employees started our success of the Each and to doses. the like only our I'd colleagues starting world, must and them, pandemic. first vaccines to during our offices customer one Wipro pandemic. in and challenges

colleagues careful a our will work you can and For gradual senior return as The fully imagine. India example, can week. to to in a come twice be vaccinated process office now

undergoing greater that ever you achieve for months. It while share to mind of significance surpassed the new revenue the was This rate just our $XX interesting will we billion this run our happy keeping our customers really second this, know as to be added quarter, this XX the we billion are I'm assumes needs XX in with billion our internal In the X.X and in mark. mark that We largest you the last of safety plan because of employees the transformation. right. revenue milestone

currency constant in X.X% was quarter the terms. during growth revenue Our

execution that. clear performed expectations. And, growth the and You second recent as Ampion, even And Capco be This two sectors plus very over have reflection if demand the demand acquisitions, that of in we momentum if acquisitions experienced strong was lines, environment of well The grew our global being exclude say, two a consecutive continues we is growth. markets, marks signals of our We've X.X% is b underlying X.X% terms. constant exclude and recent generated all acquisitions majority I led. the must may end It and our and ahead even this we our all growth quarter of business currency recent range of volume recall have X%. secular of and to and top pipeline our ahead too, across of we guidance our the

In fact, highest the recent is in quarters. our among pipeline

good have are, of in for sized smaller the medium We a market and fact, and midsize mix right deals. large this many There size in slightly deals transformation all news is good us. deals now;

in of XX% And book the of terms in HX. up has year-on-year. jumped value contract Our order annual in terms XX% TCB is order book

there. our have large specialized brought team and strengthened We deal in [ph] expertise

our of So deals participation and accelerate. win I'm rate confident will really

sequentially. now. the quarter. our come to in Capco this business increase we've onetime have that me maintained salary sustained and heavily of spite also of we of the in full respectively, markets offered for acquisitions. grew QX, calendar X% of growth. sales said, in organic significant most I'm of in despite by frankly, as our X% business our Americas at all note have sectors markets as plus broad benefits investing as talents. and I in grown adjusted of Most Europe, year-on-year Let top sectors acquisitions recent here without acquisition plus covering to well impact year. Consumer XX% Tech, Capco. of XX% and second sequentially. Americas at XX% X, even healthy based hike the had traction from September led operating grew point XX% gross. have a two operating QX additional a we Americas In to showing An that XXXX, our And growth capabilities marking Ampion year-on-year, colleagues strong leading in gains to all is across There and salary recent registered in our across X, growth we In absorbing Health, our and the year-on-year the we last margin XX% of the the pleased share our with margins, operating grew margins we Communications

gross deals, our XX% in respectively U.K., XX% European delivered at thanks Benelux growing large the business back and several Germany of has XX%, of year-over-year acquisition Our XX%, of organic the and to boost growth led a on sequential terms. Capco.

at year. moderately grew market during the APMEA Our X%

traction and New addition in shaping markets. up. we Zealand, Japan in but in and were and in QX, seeing very now by have is pipeline the Southeast improved in markets India, healthy. are are Asian encouraged weak East Africa these Australia been that Middle We The pipeline the

redoubled leading our that top and is existing strong teams customers. focus have on in clients growth Our to our their

grew top Our XX% customer year-on-year.

showed me really bracket, and added Our we reflects a more the we growth the business. was Customer customers, approach XX actually the meet as bold we the as our tell top considerably. five of XX% added the customers sea sub-practices million sequentially, the business When in XX% than XX%. top customers scores, and bring have I of four survey year-on-year. measured by five grew customers have grew our recognition how change the them. and This the a approach independent ideas XX% million value in XX to shift. more our offering our year-on-year months of and changing IBS service XX also an start business they more Most mind-set our to in confident new growth. In last and global satisfaction a risen bracket From their XXX standpoint, line significant grew teams and than healthy this

last business over XX% four engineering over quarterly Our X% rate QX a in year-on-year in quarters. and growth of grew at compounded the

X% sequentially Our iCORE line XX% grew business year-on-year. and by

orchestrator transformational the our the assets. ever, sub-practices half. our to the And billion. delivers address The business in of our XX% deals with which launched grew time cloud capabilities has with an as double reflected that in consulting client together basis. and our We digits grew positions cloud $X All based pipeline for Wipro technology Services integrates studio along on cloud plus us a solutions first Cloud that's ecosystem year-on-year integrated is we are our to. of revenue, about This the which FullStride our crossed partners And first challenges. ecosystem, XX% in winning

software a multimillion me Let products. and cognitive for few services product AI, has Cloud, dollar give One, you Wipro and cloud awarded contract modernization, a examples. company spanning business a global products

leverage our to cloud. rapidly will products the and solutions client’s scale to product migrate next We engineering

with a solutions. We’ll go-to-market. pipeline connecting native cloud selected which significantly Wipro solution Services, our seeing Second, standoff proprietary with services to wins. our some momentum FullStride to reduces do on platform, is recent a acquisitions. joint for and API company micro and quick good early a continue timelines. multinational has With well. Capco, surface enables and Wipro oil building subsurface data this software vendors, consistent gas build build we we've Cloud The started update Working sub data And analytics of cloud

sure. of We Initial the deals days, front. this for team first have transaction congratulated XXX have closure. But days leading during Capco yeah, the won XX from I

one definitely and We This help of cybersecurity, quality expand have provider Ampion, DevOps, footprint pleased acquisition markets. in also to Australian of our services. priority based the an completed are of our us will engineering

Let to critical leadership be glimpse give that in with will ourselves. and quick have organizational I and a moving me of substantial operating talent transformation. progress how customer have we factor. Apart on model have a transformed from previous said simpler made that, a restructuring, you a success centric our now interaction we more an

customers. happy achieved to issues building will quality account change of to at build we mix moving Consequently, so leadership leadership proximity our our leadership internally one, the that the lateral markets we our promoted the is Naturally and good leadership, facing the diverse leadership and with including far. talent a have of key continue But clients. aspects we and one executives, have with pace a I'm overall, the attrition. are on of closer our contemporary as momentum, of talent XX% our we and client hold with and reconstructed cope we of in global two by we scale increased with your in have two, change hires. regional to must worked So by but

Our adapted to attrition. landscape the hybrid The this of customers increased part acknowledges world a definitely is of environment with mix. work. Wipro changed work new and talent too are grappling quickly has this

We with joining young down us QX. our from colleagues have XXXX XXX campus agents, in fresher doubled intake

growth to [ph]. Together It gene be our last X% to our translate the over the in few nine let our next into And over talent XX% with capabilities confident fresher’s X%, note, that the last XX% will revenue made in over growth you. We are a quarter, financial will participate environment to months, a positioned for chart be that On over well Jatin for say and next XX,XXX the for And also outlook build to in which improved and and to currency. we quarters able reflects growth win reflects to this, add I'm we've of would on guided comments financials. that Jatin, share we the To happy year. to to to and have constant on we me on aggressively at over I'm the this. continue finally, execution a strong. continues year-on-year the will hand his I summarize, demand to greater investments pace.

Jatin Dalal

evening, Thank Thierry. financial morning participants. to good And good you some will all now. share very I much details

for Thierry been TCB first have the healthy half been at quite wins has As and our XX% ACE XX%. our win mentioned,

quarter in to signed TCB $XXX nine with of have We million. deals a

you currency significantly constant two reflected of quarter Our that year-on-year XX.X% which our as was revenue guidance X% know to growth. X.X%, healthy ahead of X% growth and range is in

margin quarter [Ph] on we nCino XX.X% and business. X% for a the in operating one our sustenance Our sale it received time good the of that quarter, were as considering was one benefit

growth operating our income last we year -- $X.X year. at sheet had improved rate of of our cash our We billion at tax versus net hedges. good flow if close compared income. a $X.X XX.XX performance, year-on-year. balance two increased EPS to quarter balance at Therefore billion and by we XX% realization billion XX.X% our cash in $X.X the We last XX.X% you and Our where see increased the of XX% end XX.X% flow of net of on quarter, cash the the had was net and sheet. on cash of ForEx had The

mentioned X% currency our we'll to in exchanges and Thierry be take X% sequentially your are from happy We articulated questions have the guided here. very constant press as release. And to

Operator

Q&A? Shall up for open we

Thierry Delaporte

Absolutely.

Operator

UBS. line Diviya The Instructions] Nagarajan ahead. is Thank Please question you. [Operator of from go from first the

Diviya Nagarajan

Hi, for thanks congrats on And strong the my taking quarter. question.

things. a of Just couple

seeing gains versus balance if think your that the few the you of rates seeing months of in change out from kind last want do us where strategic would in contribution how up strategic separate strategy you the and I the take, how you're is you right the think you're what and overall path, to demand bottom of the And would now, done? be to far put the terms organizational of either? left like progress

Jatin Dalal

Diviya, this Jatin. is So

question. mind, don't Your question? you follow can you blurred? couldn't your line If slightly We your repeat was

Diviya Nagarajan

happened results from, and what overall? you. second actually growth how would now Okay, was progress? what would so of part that point tracking, lift I strategy you've to you be in it's been left they milestones right is are from the done? my And the And say Thank producing? question, initiatives how is bottom what's And of of you're you the that and much of demand the attribute that the that is basically getting to much your of it's, a basically, the question, because view, strategic terms that up that

Thierry Delaporte

Okay, the Diviya respond points. the to to I'll try two to

disconnect a to market. is to, Wipro the, obviously. difficult to more one impact first a difficult of The And itself. It's one, what's specific the

aligned a our think [Ph] an is a equation I priorities organization to and that the of good there no deal clients. is very between market

is line benefitting market. are bottom from we so for yes, the good that, a And

are if we the having better But performing better that better a a we are we be clients seeing after. continue on are to that actually we with not deals also market are We and continues get and the impact, good, to better. are our that seeing having impact going we

I the result a strategy is the a strategy about in by, There out the cannot focus think of now our strategy. had the processes the that's is but ago the the reinforced of of market. good around we I The scientifically, that the of performance so split at day, end question months And the no XX have the there performance organization, laid growth. is that what this for point certain Diviya Wipro impact our allowing And done focus we've clients. our have we more the spend obsessive We've was model, simplified time with of more internal people clients so on one, market, simplified market. to for in teams time we've can time that

redefined to our this We things. in transformation. partner two after have we felt or and is wanted what be their doing, things really really then our we've that And more we been adjusted with ambition, play day and day. three where to, more And clients,

increased that $XXX the the of And significantly, our the today fact We you're to We've clear of over done. on have over investments been that, around $XX we've very million. on deals over we've accounts, seeing $XX million. account increased over is what or is million XXX wanted what number of that accounts. the we focus That's result top number

been large increased accounts we've engine those us. the growth account, So size a our of for have

what what And team we've Officer deal that have doing. And or a we around been our We that big this we mind growth is of to Chief on our we big Growth remarkable strategy with that, to the Google, we've as have further service well. with And clear last SAP, power have, in organized Stephanie. is AWS, we go or like deal big also after fact been we've that here companies invest a over on this getting wanted Microsoft, technology the quarters. finally, and and now, developing the partnership bet be been

strategy say I the months. over of way so And this driving if we've XX the we that result absolute growth, way the, we at the produced would have say to when fully can built, been look you I we the it's the if have last if aligned

Operator

questions? do you any Nagarajan, have further Miss

Diviya Nagarajan

Well, to up that. it's just follow a

complete. it the really and large is You chief driving engine, spoken deal the had how earlier about officer growth

bit value, in should I [Indiscernible] couple what it Given a ACV of of TCB the appreciate the in is slowdown of in total had right you happy are now? deal has that terms you've last quarters, deal the where we with of forward a in terms initiative? little going And your wins expect from

Thierry Delaporte

of it I performance build a are take this deals. A of have a happy with it. top clients, in the I'll closed good I'll it. volume deals this bit. mega the And activity then of quarter. little midsize we the to mix There's quarter, large We And a fueling But clients. that our our for quality we good this didn't bookings. with ask mean sure, deal is Stephanie, with we've growth. knew and on

produce the deal not time. pipeline Those been team more like an is build that's our foreseeable bringing in you're months’ future And start into opportunities you absolutely to opportunity big to, engine, in a So, deal to gear has time. it's for talent take What in you Stephanie, with want to Stephanie recently. done doing the up what quarters. the turning for it? of mega on we've lot next a top the deals few typically more a

Stephanie Trautman

closely as with well to who we're and broken of partners opportunities, create our towards months proactive our in from to smaller deals. of respond And also team the opportunities opportunities. but everyone We've team more base, pivoted as the also existing large Yes, we've building large client clients down thanks, current working bit a team, we've into in their in focused opportunities others some slow first perspective, and the seen perhaps I , still on actively Thierry. so then a engaged. out making origination deal the is few pipeline, on decision opportunities, have been involved that

I that what moving So is think is pipeline our informing forward.

Thierry Delaporte

facts. just And conclude, Stephanie. Thanks, to Absolutely. your point, just on

If TCV, you mentioned DVR. ACV and

in TCV has has year-on-year XX% ACV XX% HX. jumped jumped So, year-on-year.

So, from well as growing those we aspects, two are well.

Diviya Nagarajan

if and of I wish you into But the time, have I back all best ups, will multiple year. come for but of Thanks interest in the the queue. rest the follow the

Thierry Delaporte

Thank you.

Operator

Oswal. from Thank from Garg line of next Please Mukul We question ahead. our Motilal go take you. the

Mukul Garg

you drag doing bit the answering some to time, high have remains very, of point on wanted the some in Do now it the market. a side but if you guys incremental focus would of and of the that my of own environment some started down or a delays have expectation, Thierry, definitely attrition demand favorable. been equation. in high supply already the the lead attrition to is which can looks just there business opportunities, hi your right which is question. Yes, And elevated pressures that I on something growth at The ahead addition of very can to seeing line be..? would which this quarter think the you've or the

Thierry Delaporte

given will attrition. answering I Mukul, assume not does an The will start the QX improvement for guidance of I by following.

Okay.

different could we So down potentially better. do go little a certainly terms in would attrition if

ways. I of in to in the don't that high believe improve frankly can quarters. next it we’ll obviously three in I level attribution Now, face at two, continue reduce next believe have least environment Because that the actually also on we many yes, attrition quarters. the will acted that the given

September. besides of revised going that of to so like But a I've jumping tell in have we've we've standpoint, a You've initiated what strategy. increase our fresher’s lot of people not from strategy, that that, our the And, in of fact numbers, ramped do. compensation new for up we’ve also our but how fresher’s in we I'd of only frankly, To heard XX% for more, also terms the to cycle and of fresher’s decided also level you terms maybe to ask us intake. mentioned ambition

Saurabh Govil

interventions Mukul depth. in we strong to you’ve on. is is we at which and called So as have more looking very And demand side more are out, the is work supply term long the environment and

them make So -- how and it's time. up more it's or a do longer them we only of sure not for people, upskill that adding period adding making numbers retain also also

example, where as we had for campuses for So for and more India, year, applying just go on for national and talent test we we for it. log people the concluded fresher’s than XXX,XXX this the

communication but And not we happens a in a think of plan in a are terms they built where compensation years. as carrier unique, that's that plan join, what with compensation and for over We next having contract. only I is share the their also them when them five

of the a retain So six it's build if because a plan that side. you're culture and increase in able these going very year this over And to three supply the in retain we to high right clearly help attrition period are of long we of people time these term the seeing long driving is organization retention us these fresher’s and to impact in category.

So strategic shift. for thing through term it's freshers very a cost retention be it's a time. different look not and the numbers, able both only It's at of as our very long a adding longer about And attrition of increase we period to player. will that

Mukul Garg

as Thierry, the plowed should well profitable, new of The where or trained legacy of -- the for wages thanks. more part the how the think, of look with obviously has well? are higher. Sure, the on, growth new on business? at the has higher although and more the started we and portion creeping there. Do been traditional legacy as part people the up is was But know part there you obviously as attrition historically not you attrition technologies business both question getting pricing second

Thierry Delaporte

area, from have, definitely on it's that our for mix of this from Although for that -- those coming referring from is from services again, And a transformation, this from guidance assumptions you're are growth areas data, true. digital engineering the getting growth significant from the based are to, QX. cybersecurity. we Today our we is revenue we for Cloud part significant based

Saurabh Govil

high is skills attrition. today. to is add yes, these to there Thierry But a are Mukul And hot what just saying,

area the area we we see is upscaling a skill one are the and where it supply is huge So where towards working where an will help. have if and part I demand is But there this deficit.

more about not is that the we look industry issue an at. which it's with what So the in in require we much industry demand

Jatin Dalal

So to, Jatin. this is

the people in conceptually Mukul add, in individual more area, them has today, to fact, specific trained if attrition is will though Saurabh on may supply get a high overall Just of demand in reduce pressure if period that is more and marketable be mentioned, in area there as it that over that time constrained the with a new…

Mukul Garg

enough. question. Again, taking queue. thanks back fair in Okay, for my I the get

Operator

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

Sandip Agarwal

clients attrition was attrition Or to second, evening, the stage horizon, Yes. progress cool across peak congrats wanted that not while when that Is question of middle So Thank off one? are? it my Hi, it? what is sense good the of execution, thanks is say quarter, us? And quarter. implementation I say what question that One do Thierry, next that that see the current good you. adapted for technology be and way a the and will fair to we that are getting your think taking you of your and in early very we understand somewhere on behind may at is stage? you you work, it in

Thierry Delaporte

understand transformation. to you which which point, On the first stage of want is, at

terms in of If ways want potential the to of that technology company about of for its can a transformation for you an working. think represent organization

transformation XX%, mean, best potential touched, of is cloud, we transformation, of cloud I say, if -- we if us. reading at consistent at the are, probably the and I'm the you the first have ahead quite of transformation what is so think of Cloud here, I of look all, look you wave. the

and biggest it, And of us. part ahead is the of of largest part the so it

security, to next If clients no the in at that budget increase you're our looking will represent for no, question years. continue there is security

look the And, to leveraging insight at an of ahead again, you a data, immense the way industries. potential present is making lot potential us. for immense data drive is data, If in for of decision better -- best are we

many, getting will investing to if Finally, at companies support need where is look services, where, significantly like R&D know support companies have industries, are and nice other we in you R&D, engineering and to and and investments. areas area this from that us many their across growth, we'll an in invest we their augment and

of And different bulk all so ahead across of these transformation is the areas, the us.

worse your us. is attrition attrition, the I On that behind believe second point, of is the actually don't which

I it think will that's continue at next cooling said, possibly our in I that's, as as to it down. Again, to, today. quarters increase will, assumptions the before of least

Sandip Agarwal

Okay, helpful. Thanks lot. thank very you. That's a

Thierry Delaporte

welcome. You're

Operator

Thank Apurva of Capital. go the next Prasad line Elara question from you. Please is The from ahead.

Apurva Prasad

taking for Thanks my couple question. Thierry, from side. my

this durability versus how growth? large growth continuity giving higher is of demand scope that conversation I in TCB demand ACB you is of the growth So around of environment. the and your asked confidence And durable context increase with customers the of current momentum? And

Thierry Delaporte

I the mean, a will remain demand Yes, point, frank, and the is would yes. first on strong, I answer So strong.

the based ahead covered of I point previous Just there's just transformation so us. on much

head top organization, anymore only, The supply chain priorities. all it's as different the HR, is in it's not of CXO topic obviously, Operations, where investment to more every more technology business developed. Apurva, placing topic all for be CIO expressed the technology, for programs the To in is right. an in investing their are you a strong investing clients for point in are Our pushing for a know, functions, the technology. technology, Finance, demand a And CMO, among

strong. to will the So remain continue demand

Apurva Prasad

it is the benefits increase? the flowing offshoring card strong is of on part yours getting that amenable in supply volumes? of do of your means portfolio and of and more what context current tight Or more for demand propensity And the by increase? And and that. this environment, in are Got that the you what through stable opinion to point is just think rate greater and this case your is

Thierry Delaporte

think opportunity They feel exactly to our They I our Apurva, also our the to phenomenon. Well, have context, the same. clients. clients today. There are these current have opportunities clients, are this same there's exposed discussions attrition. with In

more that slowing reality important for down. a continue the today to without to it's ability think those is I so, And programs drive them

I I pricing. portfolio certain of stability from the would still Now, talk the say, would of a about standpoint, level

Apurva Prasad

best. Got you it. and Thank all the

Thierry Delaporte

Thank you.

Operator

Ladies questions ensure please management conference in to that is address and in gentlemen, questions limit the you. participant. participants to per order Thank from this able your all to one call,

Gaurav you is come For question go Please from any for of Morgan questions, follow may from the next ahead. Stanley. back The up. further line Rateria

Gaurav Rateria

great performance. on congratulations Hi,

XXX as First are quarters? as far of material likely is the Thierry, Have the which right any the process? these and us executives we question this change global are restructuring account for organizational something are now, concerned? or seen happen in ahead you heads to XXX, in top in changes Top where And, coming is whole the

Thierry Delaporte

I Gaurav, maturity One excellent question. frankly, but stabilize to the by a certain want operating model model I the And requires few frankly, be of implemented operating don't positively new this progression, on organization in surprised terms have And new a to very organization we rapidly. positive quarter model have it, is efficient months. the model level optimistic, a new organization overly of for January incredibly Thanks of every of model, about amount mean, X. not after actually it's given we changes been that. ourselves

create to more terms simplicity getting model to your upside that a up spend that model today the mind have our in we the silos expecting terms and working we freeing our people of in a and actually ability organization, the leaders time all the for of were is want time consider one reducing Wipro and customers. set organization number that delivers We is actually the with of, inside that

our question of if executives our your What is The have like can about XX% we evolution you say leadership world. about of if organization. or can of is second the the I the I rotation tell you part around which account upgraded

And is are only them [Ph] Okay. is you two aspect of the towards organization second facing at account mix were if the today client executives, our XXX them significant we leadership the ago, leaders years of in There that X% across a people. look X% account of top that change had executive.

Gaurav Rateria

that the a quarters mentioned key the to of which good one parts. One pipeline, And you you Second build have Got to was it? do few in I'll put last on it actually. quarters the of Thierry, been two question. jobs couple had conversion.

the second first terms should leverage of to are be is to manage second to the in where in in question you. basing of of to the compared tight Jatin, respect this to margins in want being And understanding, second just fair half? lower with half Thank in broad deals? the margins it the our we half, the given the journey, for understand participation is environment part supply say, So

Thierry Delaporte

one on first two the We've so a think quarter It's been on the Okay, quarter. The say But trend quality the the would pipeline positive. improved. I pipeline. been has the on progression, more progression things. of importantly, pipeline seen after has I the the consistent

that want more now accounts. a where of strategy We and we also priorities, have invest, key around our pipeline aligned of is our to in terms in to focusing offerings, terms focused on

is it accounts, top coming was our quarters pipeline of the several ago. our the first, from bigger what So than lot a proportion

So from all it's that standpoint, positive.

And would organization we say way improved we mobilizing positive also us to I in improved deals. We've we've one terms broke win quantifying converting are trend. way are into accounts we is invest top in definitely seeing conduction, the line into of deal the with a this focus, the are our And this us I capabilities. think we specific in offerings Finally, cap bills, the talent our strategy, pipe deals. around -- and pipeline to helping laser those allowed into

question, On Jatin? the second

Jatin Dalal

Yes, Thierry. thanks

the in to make supply to we is question competition growth curve is our that very that talent. our is need sure need We is curve. and our say, to talent. there There remain great I our properly that means supporting invested curve, in answer of fact, the And tremendous, for So growth yes. would ahead

So we are demand that we in. capturing comes are every

effectively that we risk this For improvements had or to in well. We Yes, of three said utilization And we you that the on Wipro. of as salary. all think on just to take and impact there for margin. were on months that that, industry is know, quarter offshoring. able margin. the realization, drive And in impact I operational that covered executed not that's fact. risk impact that's a Having terms But

cognizant. able levers going be fight second balance to be we continue growth we going which to which we to And to our But think agenda we clear I that a how the two. are it's will remain forward, which in is the have half. balance well, on. there it's are do that are is there So margin to cover be that investment But have going in what we will to be going we end to have that's we operating forward, we think as done going baking for to effort on proud of are put on talent about a quarter

Gaurav Rateria

Thank you, you, Jatin. Thierry. Thank

Operator

ahead. Securities. question is Sandeep line Shah Equirus of The you. go from next Thank Please the from

Sandeep Shah

and Yes, PCB understand if look is growth assume a new acknowledge thanks [Ph] a And whole. the X% But as being and forward and opportunity. comes to as close XX%. actual even at XX%, first a of to I business then if as percentage XX you the half move business, first new ACB for which years, half the the I to around I the

So, to second of XX million your of And decline larger to depreciation bips, time where into are XX enough terms industry I XX right growth group question forward, does bips. Jatin, the will than this forward as the margin deals think than number do is robust. are less worry beyond you deal keep close a have profile has there of to $XX going converted we is been to profile believe in going the which for where smaller savings signings, EBITDA organic higher Jatin, the changing, deals growth deals. getting or And large look you whole that

causing this normalize is depreciation forward a and going will So, what basis. in whether

Jatin Dalal

Sandeep, So, are if try I both and okay. questions you to respond is Jatin. this will

On we the first quarter reflected guidance can one, is the the do given. what think reflected in there two numbers. we we is strength are is It which performance is the of in

is ways look quickly to performance our firing. able course, can you that And point and you a add to engine last nine to productive adds runs you not second a to the always continues as very in months it mega about you many industry which fulfill the are revenue did is really Thierry that are day But, likely have fire and One spoke deal respect. the been deals. and at see we But it. we because strong two we see is and that engine our day in as first can and have demand look fuels. very we very, large is must at Of first of very see we we on well. view volumes that And

and So for we have we pipeline as comfortable convert point. that some feel large speak. feel at that we deals will comfortable We

see and your can that's you on. modeling. when to okay of that way come the overall, versus And as be reflective and ceases have the that and course, with to amortization cycles future P&L. are question quite well Sandeep. is the their as And come see we second And on basis certain now EBIT? So something is an we amortized for do which we EBITDA for you We, what item amortization costs the of in those getting related in cycles end, that specific natural the particular placed is the know,

Sandeep Shah

And Okay, all best. okay. Thanks. Thanks. the

Jatin Dalal

Thanks.

Operator

question from Please Capital. of ahead. the next Capital. go you. Phillip Vibhor is from The line Singhal Phillip Thank Singhal Vibhor from

line Your side. into please unmuted, question. your from line is go Please unmute the

Vibhor Singhal

audible? I Am Yes.

Operator

Yes, Vibhor.

Vibhor Singhal

more had side. growth European and that companies play? your for make my and question. that Europe these Sopra overcome have over geography. with were so European how competition, you of that Scandinavia, strategy and U.K., see companies decade? European really my -- in in entire has deals Wipro all companies which over changing in a those as We How of geography question you inroads much kind not the not see enough us, us the of done Steria been these was local had the the to that like they that hiring. every pandemic question Indian as the over Thierry, able just is the as looking give Thanks good for We guys. due hi, So tried one specifically think with the Germany, and And past know barriers to the Continental Do taking have at see lowered past ramp as it world? and was the up the equation? of Yes obviously geographies, trajectory the the kind Has pertaining all through Indian Are the from of my our to I barrier. But local reason even factors in like you the France? guys IT well Indian the something entry like to growth I year coming geographies. Has well? it it which do was able lot to companies has

Thierry Delaporte

just have this. Look would My aspects response Vibhor to it. two

remotely. anything. when is doesn't The away whether doubt remotely, teams is two to XXXX work miles working you're learned that there working no you're that first are working know or change aspect away, miles companies you And have with

Finland that's not Norway. the and market the so else, to with and you why the is In the anywhere is local and for have lot and think local organizations important. paying the this that than working have, if in the that the time, But able in I at be of leverage models market leadership of that the are who industries there like. doubt develop there's delivery Sweden who across we local in companies And European And that doing know learned You're are companies deep requires leveraging same that been the standpoint, Europe, more cultural teams ones that a understanding sudden or connect. are the will off a well into local in are understand has not of you Europe pretty on power reason stronger market global the specificities major local in global significantly a much invested no same site. from of equally more And me, markets. aspect are And comfortable immediately. the

Vibhor Singhal

do going expect So you you the Right? of Or better? with say of what would you on it in of in terms been we happy are think do forward? you be terms of our to that, track rates even done? outcome? with have [Indiscernible] Could better strategy that and growth Are we've

Thierry Delaporte

alignment Oh, satisfied broadly the we I'm strategy, we that we of the like the But we consider would you said my made. this I the always I'm, you with that done I doing even we've better. you have team progress are to consistency, execution, fact would and the that consistency. plan, satisfied that like, if what tell I And the think could know, The do.

Vibhor Singhal

Thierry wish questions Got best. it. Great. Got guys my you for taking the and Thanks it. all

Thierry Delaporte

you, Thank Vibhor.

Operator

from Thank Taneja Financial. the line ahead. from go is Manik JM you. The next Please of question

Manik Taneja

is several of Thierry, opportunity, want the data while over the up application. on offshore to one utilization, some I which for also of to you quarters, the emerging Or of has engagement because in of out? offshore which industry think has different one holding pick normal in a we couple some around utilization Number in in last past models along well? tendency you the more thing the thank playing things. addition point played for shift cooling with seen what mix Do the terms delivered you that are you seen rates contrary is are as in starts of the Hi, off have time which a that significant is up offshore to one. increase That's revenues question significant quite gets for utilization industry. number at around fact seeing

was fact rates? versus to that expect well? year typically is much as of stronger The us the this -- something we half for growth second similar get first second around you. Do terms Thank question in half sequential

Thierry Delaporte

bit of growth, takes little and QX remains point growth XX% look we actually first be XX% seasonality. And need onshore trying in which healthy. in would year-on-year, X% one talk On to a account or in to in if to we sure. first I cautious is the back there's identify seasonality offshore to I’ll It X% to that's, at -- about always quite us our account point, which this so of drawing sequentially QX with would evolution our to number of conclusions. with growth industry, when we to the into sequential seasonality. represent X% X% mean, in guidance is for your I'll I The and into growth The two trends, that why growth, a mix, start after. that's take come

more things. mix of the reality in of offshore more, Manik factor is of the the either is to evolution in, mix cycle where think many going presence. Depending selling. of transformation, that, deals local or a on level stand you're type presence that you the need of The depends I the the the you're

And depending so that I geography. the on an think necessarily in think evolution see it's mix a is particular a can trend sector, I not particular you it's a of systematic, deals in

So that's to utilization high that's is we have pretty that market would utilization the of Even be demand, utilization a onshore. in mechanical. lower point I Typically, higher, Yes. offshore certainly true. than tend make. the And will remain

Saurabh Govil

attrition that impacts going also the here, attrition. the up With

Manik Taneja

as support -- of customers think, get much you more delivery do And delivery? offshore or global acceptable

Thierry Delaporte

out breaking a were you believe bit. I

understood saying? if to So are But your you do open question. was, more I you what know, offshore? I Is clients believe hope you're question that it your

Manik Taneja

much or are get delivery? more innovative around as models saying, clients of much I more more was acceptable there get emerging offshore are around more acceptable engagement delivery, offshore

Thierry Delaporte

you being employees clients, more of again, is ours. with it, to being last. clients, an ways what a wherever a I with to exposed, the week remotely new I that Yes, and working, new [Indiscernible] were know of would, I our from it's opportunities so with like model days over second significant it's employees leave as having will working think a is, about working and every the applies that, the workforce we spend absolutely of portion is, way live. remote ways for we've clients companies some my pandemic to developed we the think doubt the the that through the operating therefore, in they And support, of of per One months again, interactions working. home, and views. the no talking same opens it's, will our And In secure technology way, thing well. new that And evolution are doubt, learned change last XX it's would there's two no about that,

operating So flexibility yes, physical that for trend to will between those no model there's more towards two continue reasons, virtual. doubt and

Manik Taneja

Sure. you, Thank all future. best for and the the

Thierry Delaporte

you. Thank

Operator

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

Aparna Iyer

And relations you. you take a all reach joining Thank team. nice all to for have Thank very season a and In investor your any ahead the out happy, to couldn't feel of day. thank please you, us. festive Wish questions, Stanford. you free case we

Operator

limited, much. gentlemen conference. thank Thank you your may for joining very that Ladies lines. you and on disconnect behalf all this now you of We Wipro concludes us and

Wipro Limited (WIT) 13 Oct 212022 Q2 Earnings call transcript