The earnings season spotlight has shifted to Wipro Ltd and Infosys Ltd after IT bellwether Tata Consultancy Services Ltd (TCS) kicked off the March quarter results. Investors are now closely tracking upcoming announcements from the two IT majors.

Wipro is scheduled to report its results for the fourth quarter ended March 31, 2026, on April 16, 2026, after stock market trading hours. The company, founded by Azim Premji, will also consider a proposal for buyback of its equity shares—its first such move in three years, if approved.

Wipro: Q4 expectations

HDFC Securities expects Wipro's revenue at Rs 2,447.1 crore for the March 2026 quarter, marking an 8.7 per cent year-on-year (YoY) rise and a 3.9 per cent quarter-on-quarter (QoQ) increase. Earnings before interest and tax (Ebit) are estimated at Rs 631 crore, up 16 per cent YoY and flat sequentially, with margins seen at 18.3 per cent. Adjusted profit after tax (PAT) is pegged at Rs 352.8 crore, up 12.6 per cent YoY. The brokerage has an 'Add' rating on the stock with a target price of Rs 225.

Wipro recently secured a large, 8-year strategic transformation deal with Olam Group, with the total contract value expected to exceed $1 billion, including a committed spend of $800 million. "This deal will strengthen Wipro's farm-to-fork capabilities, scaling the impact of Wipro Intelligence across the food and agri-business industry," said Emkay Global Financial Services.

"Pending deal closure, we have not yet factored the current acquisition (likely to contribute 1.3 per cent to Wipro's revenue) in our earnings estimates," it added, while maintaining a 'Reduce' rating and a target price of Rs 210.

Infosys, India's second-largest IT company, will announce its Q4 earnings on April 23, 2026, also after market hours. The board is expected to consider a final dividend for the financial year ended March 31, 2026.

Infosys: Q4 expectations

IDBI Capital expects muted revenue momentum in the March quarter, citing currency movements and macro factors, but sees a marginal improvement in margins. "Project maximus forecast; trend in discretionary spending; traction in BFSI and strategic transactions; margin outlook; perspective on conversion of deal pipeline & deal wins; and recruiting & utilization outlook are key things to track in the IT major's upcoming results."

Revenue is estimated to rise 14 per cent YoY to Rs 46,622.2 crore and 2.5 per cent QoQ. Net profit is projected to increase 9.3 per cent YoY to Rs 7,692.7 crore in Q4FY26, compared with Rs 7,038 crore in the year-ago period.

EBIT margin is expected to expand by 45 basis points to 21.40 per cent from 20.95 per cent in the March 2025 quarter. IDBI Capital has assigned a ‘Hold’ rating on Infosys with a target price of Rs 1,714.