IT major Wipro delivered yet another underwhelming quarter, with performance lacking momentum. Net income for the March-ended period stood at ₹3,501 crore, rising 12.3 per cent QoQ but declining 1.9 per cent YoY. For Q1FY27, the company guided for -2 per cent to 0 per cent growth in constant currency terms, falling short of market expectations.

Revenue in Q4 came in at ₹24,236 crore, up 2.9 per cent QoQ and 7.7 per cent YoY. IT services segment revenue was at $2.65 billion, at an increase of 0.6 per cent QoQ and 2.1 per cent YoY. However, it was largely flat in constant currency (cc) terms, with a 0.2 per cent YoY uptick and a 0.2 per cent QoQ decline.

Buyback

Alongside this, the board on Thursday approved a ₹15,000 crore buyback at ₹250 per share, covering up to 60 crore equity shares, representing 5.7 per cent of the total paid-up equity capital. Buyback is expected to be completed in Q1FY27, subject to shareholder approval. This marks the largest buyback in the company’s history, surpassing the ₹12,000 crore buyback announced in June 2023. At that time, Wipro had proposed to repurchase up to 26.96 crore shares, representing 4.91 per cent of its total paid-up equity capital, at a price of ₹445 per share.

Operating margins for the quarter came in at 17.3 per cent, a contraction of 30 basis points sequentially, slipping from 17.6 per cent in the previous quarter.

For the full year FY26, revenue rose 4 per cent YoY to ₹92,624 crore, while net income grew marginally by 0.5 per cent YoY to ₹13,194 crore.

Total bookings for the quarter stood at $3.45 billion, up 3.2 per cent QoQ but down 13.9 per cent YoY, both in cc terms. Large deal bookings surged 65.1 per cent QoQ to $1.4 billion, with the company recording 14 large deals.

For the full year, large deal bookings reached $7.8 billion, up 45.4 per cent YoY, while total bookings rose 14 per cent YoY to $16.4 billion.

Employee headcount stood at 2,42,156 in Q4, marginally higher than 2,42,021 in the previous quarter.

Wipro’s shares rose to Rs 210.20 on Thursday, up by 0.19 per cent. However, the results were announced post market closure.

Commenting on the Q4 results, Srini Pallia, CEO and Managing Director, said the guidance reflects the delayed ramp-up of a large deal the company recently won, adding that the momentum is expected to pick up in the next quarter.

On West Asia conflict

Speaking about the conflict in West Asia, he said, “Our employees in the region are safe, and our operations continue to run. There is no specific impact in terms of how we deliver to our clients, and it continues. Some of our clients are wondering if they should hold on to their spending or reevaluate their projects. We continue to monitor the situation. While currently there is no significant impact, there are a few projects that clients want to slow down.”

Geography-wise, Americas 1 delivered sequential and YoY growth, driven by strong performance in Consumer, Technology & Communications. However, the Healthcare sector was impacted by seasonality and policy changes.

Americas 2 declined sequentially and on a YoY basis. The BFSI sector was impacted by delayed ramp-ups on some large deals closed earlier this year and by certain client-specific issues.

Europe grew sequentially and has remained flat on a YoY basis. Wipro sees good traction in the UK, specifically in the BFSI sector, and strong deal momentum in Germany.

APMEA grew sequentially and on a YoY basis, with growth driven by South-East Asia. The company is seeing traction in the BFSI, Technology & Communications sectors.

Addressing the buyback announcement, Aparna Iyer, Chief Financial Officer, said, “We are returning excess cash on our balance sheet. The available net cash can support all our M&A ambitions and investments for our recent large and strategic deals. We are making sure we have enough for our investments in our newly formed Wipro Intelligence Platform units. This is the return of excess cash that was due to the shareholders. We believe this is a good use of cash since we have a good war chest to support our ambitions. We continue to generate 112 per cent of our net income as operating cash flows.”

Biswajit Maity, Sr Principal Analyst at Gartner, said that Wipro’s growth in IT Services revenue was modest, as clients continued to be cautious with their spending. Its large deal wins for the quarter were driven by demand for AI-led transformation and cost optimization solutions.

“Wipro is focusing on higher-value opportunities by shifting from traditional outsourcing to AI-centric and consulting-led transformation programmes. However, looking ahead to FY27, the IT services sector is expected to gradually recover. According to Gartner, global IT spending is projected to grow from $5,563.8 billion in 2025 to $6,316.5 billion in 2026, an increase of over 10 per cent

(with inputs from bl intern Adithya Lalgudi)

Published on April 16, 2026