Hyderabad: Tough market conditions and the inability to win new deals have seen Wipro Ltd’s order book nosedive from at least $1 billion in September to nearly $600 million now, an equity research firm has said.
“Wipro’s order book has declined by 30-40% since September as the company has not been able to close fresh orders or build its pipeline as quickly as it is executing on them,” analysts Viju George and Kunal Sangoi of Edelweiss Securities Pvt. Ltd has said in a note to clients on Wednesday.
A Wipro spokesperson declined comment saying the firm is in a so-called silent period ahead of announcing its March-quarter results.