Wipro's strong deal wins offset by weak revenue and margin decline

Wipro reported weak revenue and margin decline for the June quarter despite strong deal wins worth $3,370 million. Management guided September quarter revenue to either decline by 1.5% or improve marginally by 0.5% sequentially, signalling continued caution. The stock has fallen around 15% since April, trading at a trailing P/E of 13.4, a discount to its 10-year average of over 18.