• Revenue growth guidance: Wipro guided for sequential Q2 revenue growth between -1.5% and +0.5% ($2,574 million to $2,672 million), reflecting cautious discretionary spending despite securing $3.3 billion in Q1 total bookings.
• Operating margin drivers: Margins dropped to 15.64% due to March salary hikes, AI investments, and large-deal ramp-up costs, though management maintains a long-term aspirational margin target of 17% to 17.5%.
• AI and productivity: Clients are funding AI projects through cost-optimization and vendor consolidation deals, with Wipro leveraging AI and agentification to improve productivity across software development and operational services.
• Headcount and hiring: Overall headcount increased by approximately 800 employees following the addition of 3,300 people from MindSprint, with future additions remaining strictly demand-dependent alongside ongoing AI upskilling.