Operating margins, too, are lowest among peers. And the change comes at a time when clients are in no mood to ramp up big budget transformation deals.
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Steering the company back on the growth path amid an uncertain short-term demand scenario will be the foremost challenge.
On the operating margin front, though each of the country’s top four IT exporters have seen margin erosion, data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/wipro-ltd/stocks/companyid-12799.cms” rel=”noopener”>Wipro has reported the highest contraction of 570 basis points between December 2020 and December 2023 quarters.
ETtechIt had the lowest margin of 16% among top peers in the latest December quarter. This will make it necessary for the new CEO to hunt for projects that do not erode margins further and instead go for those projects that are margin accretive.
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ETtechThe underperformance with respect to revenue, profit and margins has affected Wipro’s stock performance over the past two years. The company’s performance on bourses will be a major barometer that will decide the effectiveness of Pallia’s leadership in the coming years.
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