Wipro shares dropped as much as 8 percent on July 22 following a disappointing Q1 FY25 performance, with a 1 percent quarter-on-quarter (QoQ) decline in consolidated revenue. This decline is particularly worrying compared to its competitors, TCS and Infosys, which reported 2-3 percent QoQ growth.
Wipro’s Q1 FY25 revenue and its guidance for Q2 FY25 fell short of expectations. Citi Research indicated that the Q2 guidance is likely to disappoint investors who had higher expectations. The company’s consolidated revenue decreased by 1.1 percent quarter-on-quarter to Rs 21,963.8 crore, missing Moneycontrol’s forecast of Rs 22,229 crore. Wipro also revised its Q2 FY25 revenue guidance, indicating a potential sequential decline of 1 percent or a slight growth of up to 1 percent in constant currency terms.
Nomura maintained a ‘Buy’ rating on Wipro with a target price of Rs 600, while Citi had a ‘Sell’ rating with a target price of Rs 495.
 decline in consolidated revenue. This decline is particularly worrying compared to its competitors, TCS and Infosys, which reported 2-3 percent QoQ growth.){kind=link}