Wipro sees higher IT services revenue growth on strong deals pipeline: CFO

BENGALURU (Reuters) -India’s Wipro Ltd on Wednesday forecast higher revenue growth from IT services on the back of a strong project pipeline, and said margins likely bottomed out after higher expenses dented June-quarter profit.

IT companies including Wipro and larger rivals Tata Consultancy Services, Infosys and HCL Technologies have been facing cost challenges as they seek to retain employees amid a sector-wide talent churn.

“The margins can only improve from here … We are not seeing additional wage pressure for hiring externally. It’s all good for a few quarters down the line,” Wipro Chief Financial Officer Jatin Dalal said.