IT services revenue at Wipro Ltd. (NYSE: WIT) fell 4.8% year over year on a constant currency basis in its fiscal second quarter ended 30 September with total IT services revenue USD 7.71 billion. However, CEO and Managing Director Thierry Delaporte pointed to progress in terms of large deals.

“We ended the second quarter with 22 accounts above the $100 million range, which is double the number we had in FY 2021,” Delaporte said in a press release. “Our large deal total contract value reached $1.3 billion, highest in the last nine quarters.”

Still, the Bangalore, India-based global IT services provider’s total number of active customers in the quarter was 1,393, down from 1,514 in the second quarter of last year.

And Wipro had 244,707 employees at the end of the second quarter, the number falling 6.8% from 262,626 at the end of the year-ago quarter.

However, profit for the period increased by 0.7% to INR 26.67 billion (USD 320.3 million). 

Wipro operates globally with approximately 59.7% of its second-quarter revenue coming from the Americas, 28.6% from Europe and 11.7% from Asia Pacific, the Middle East and Africa.

Looking ahead, Wipro forecast IT services revenue be down by between 3.5% and 1.5% in constant currency in the fiscal third quarter ending 31 December.

Wipro shares closed yesterday at INR 407.45 (USD 4.89), down 0.88% on the day and 8.18% below its 52-week high of INR 443.75 (USD 5.33), set on 15 September 2023. The company has a market cap of INR 2.11 trillion (USD 25.34 billion).