India’s IT services major Wipro reported a net profit of ₹3,502 crore for the March quarter (Q4FY26), reflecting a marginal year-on-year decline of 1.85% from ₹3,569 crore. However, on a sequential basis, profit rose 12.27% from ₹3,119 crore reported in Q3FY26, indicating improved operational momentum.
Revenue for the quarter came in at ₹24,236 crore, registering a 9.77% year-on-year growth over ₹22,504.2 crore. Sequentially, revenue increased by 3% from ₹23,555.8 crore in the December quarter.
IT services performance: growth intact, margins under pressure
Revenue from the IT services segment stood at ₹24,016 crore, up 7% year-on-year. However, profitability remained under slight pressure, with IT EBIT margins at 17.3%, declining 0.3 percentage points quarter-on-quarter and 0.2 percentage points year-on-year.
₹15,000 crore buyback boosts shareholder returns
In a significant capital allocation move, the Board has approved a buyback of up to 600 million equity shares (face value ₹2), representing 5.7% of the company’s total paid-up equity capital.
The buyback will be carried out via the tender offer route at a price of ₹250 per share, with the total outlay capped at ₹15,000 crore, subject to shareholder approval.
FY26 performance: stable growth trajectory
For the full fiscal year FY26, Wipro reported a net profit of ₹13,197.4 crore, marking a marginal increase of 0.47% over FY25. Annual revenue rose 3.96% to ₹92,624 crore, reflecting steady, albeit moderate, growth.
Deal wins: sequential uptick, YoY weakness persists
Total bookings for Q4 stood at $3,455 million, up 3.6% sequentially from $3,335 million, but declined 12.64% year-on-year.
Large deal bookings came in at $1,440 million, down 18.3% compared to $1,763 million in the same quarter last year, indicating continued softness in high-value deal closures.
Q1FY27 outlook: muted near-term guidance
The company expects IT services revenue for the June quarter (Q1FY27) to be in the range of $2,597 million to $2,651 million. This translates to a sequential guidance of -2.0% to 0% in constant currency terms, pointing to a cautious near-term outlook.
AI Focus gains momentum
CEO and MD Srini Pallia highlighted the growing role of AI in reshaping client priorities, noting that the company is pivoting towards a services-as-a-software model through its AI Native Business & Platforms unit. He also pointed to the strategic deal with Olam Group as a step towards scaling AI-led opportunities.
Investments in clients, capabilities
CFO Aparna Iyer emphasised continued investments in clients, capabilities, and talent, while maintaining margins within a narrow band. She noted strong cash conversion, with operating cash flows at 112.6% of net income for FY26, alongside consistent shareholder returns through dividends and the newly announced buyback.