Wipro Limited (NYSE:WIT) Q3 2023 Earnings Call Transcript

Dipesh Mehta: Just on the deal related question. So if I look now press relief contain not 4, which include we report only gross deal intake and any subsequent cancellation termination and reduction is not the part of the number. So do we see any different trend, let’s say, over the last few quarters, particularly on the terminals and reduction side, which could have implication about revenue growth trajectory compared to the deal projection? Second question is about the growth trend or demand. And if you can provide some sense about communication, BFSI and consumer?

Thierry Delaporte: Okay. Dipesh, thanks all your questions. So the first one, if I understand, well, is about, has there been more cancellation or termination? Is it what €“ that’s what I understood, right? The answer is we have not €“ let’s be very clear. We have not lost 1 single it’s not like we €“ there was a question earlier in another form about is it structural. It’s not €“ we have not lost a client. We have not lost a there hasn’t been a big termination or anything. So it’s not like there’s been a particular loss. That’s the nature of the discretionary spend or the nature of a slightly slower ramp-up that is more explaining the revenue profile. Jatin, you want to add or you’re good? Okay.

Jatin Dalal: Dipesh, if you are okay, I wanted to also clarify the earlier question by Surendra so that we conclude this call answering are question. Surendra’s question was for clarification, I will mention that Q2, Q3, Q4 Wipro’s ACV growth was quite high, and that was €“ I’m repeating 31%, 22% and 33%. And if I take the average of the 3, it comes to around 28% growth in ACV and that — if you see our €˜21/’22 growth in revenues was also 28% plus. So our ACV growth did reflect in our revenue growth. Both numbers included Capco, so they are apple-to-apple. And therefore, we continue to see a strong correlation of our booking business with revenue. And if there are any other questions on this slide, IR team will be very happy to take it after the call.

Dipesh Mehta: Sorry, the second question, if you can answer.

Jatin Dalal: Sorry, Dipesh. Can you ask me again?

Dipesh Mehta: So the second question was about the demand trend, what we are seeing in communication, DFS €“