WPP reports Q2 dip in India with 3.9% revenue decline

Advertising giant WPP reported a slowdown in India during the second quarter of 2025, with revenue less pass-through costs declining 3.9% on a like-for-like (LFL) basis, a stark contrast to the 9.1% growth recorded in the same quarter last year.

This Q2 dip contributed to flat performance for the first half of the year, with WPP reporting just 0.1% LFL growth in India for H1 2025, down sharply from 8.1% in H1 2024. The company attributed the muted performance partly to the timing of major sporting events, which typically boost advertising activity.

In contrast, India grew 5.5% LFL in Q1 FY25, driven by strong new business momentum, particularly at GroupM. However, this was offset by a broader 3.8% LFL decline in WPP’s “Rest of World” segment, led by a 5.7% drop in the Asia Pacific region.

The Indian downturn reflected broader global challenges. WPP’s Q2 global revenue less pass-through costs fell 5.8% LFL to £2.54 billion, while total revenue declined 4% LFL to £3.42 billion.

For the first half of 2025, global revenue less pass-through costs dropped 4.3% LFL to £5.03 billion. Total reported revenue for the period stood at £6.66 billion, down 2.4% LFL.

Live Events

India’s relative stability helped cushion broader challenges in the “Rest of World” category, which declined 5.4% LFL in H1 and 6.8% in Q2. The region includes both high-growth and volatile markets. China, a major contributor, saw a 16.6% drop in H1 and 15.9% in Q2, driven by client assignment losses and persistent macroeconomic pressures.Outgoing CEO Mark Read acknowledged the difficult operating environment. “It has been a challenging first half given pressures on client spending and a slower new business environment,” he said. “We have, however, made significant progress on the repositioning of WPP Media, simplifying its organisational model to increase effectiveness and reduce costs. Meanwhile, the acquisition of InfoSum, the launch of Open Intelligence, and the continued adoption of WPP Open all strengthen our data and technology capabilities.”Cindy Rose will take over as CEO from Read on September 1 and is expected to lead a strategic review of WPP’s global operations and capital allocation.

“The Board is declaring an interim dividend of 7.5p ahead of a review of the strategy and future capital allocation policy which will be led by Cindy Rose, who succeeds me as CEO on 1 September,” Read added. “The priority is to drive sustainable growth supported by an appropriate level of financial flexibility while balancing returns to shareholders.”

WPP’s India operations, led by agencies such as GroupM (now restructured as WPP Media), Ogilvy, and VML, remain a strategic part of its global portfolio. In May, the company launched WPP Media, replacing GroupM, with a renewed focus on AI-powered, data-driven media services.

WPP reaffirmed its full-year outlook, projecting a 3% to 5% decline in like-for-like revenue less pass-through costs and a 50 to 175 basis point drop in headline operating margins.

Under Read’s leadership, WPP laid out ambitious growth plans for India. In 2023, the company announced its intention to double revenue from the market over five years and hire 7,000 to 8,000 people. Already its fifth-largest and one of its fastest-growing markets, India was targeted to become one of WPP’s top three globally by 2028.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}