IT services major Wipro Ltd reported a modest 0.65% year-on-year (YoY) increase in consolidated net profit to ₹3,352 crore for the first quarter ended June 30, 2026 (Q1 FY27), while revenue posted double-digit growth driven by steady demand for AI-led digital transformation services.
The company had reported a consolidated net profit of ₹3,330.4 crore in the corresponding quarter of the previous financial year. Revenue from operations rose 10.6% YoY to ₹24,478.6 crore, compared with ₹22,134.6 crore a year earlier.
Deal wins remain strong
Wipro reported total bookings of $3.37 billion during the quarter, down 2.4% sequentially in constant currency terms. However, large deal bookings increased 12.9% quarter-on-quarter to $1.63 billion, reflecting continued demand for large-scale digital transformation projects.
The company’s IT Services operating margin stood at 16%, declining 130 basis points sequentially and 120 basis points YoY as Wipro continued to invest in strategic growth initiatives.
Operating cash flow remained robust at ₹3,288 crore, equivalent to 98% of net income, while voluntary attrition on a trailing 12-month basis stood at 13.9%.
AI-led transformation driving client demand
Wipro CEO and Managing Director Srini Pallia said enterprises are increasingly shifting their focus from technology modernisation to AI-driven operating models.
“Clients are moving beyond technology modernization to AI-enabled operating models that improve quality, resilience, and productivity. Wipro’s consulting-led, AI-powered approach helps clients embed AI at the core of their business, and these engagements reflect both the breadth of our capabilities and the trust clients place in us as a transformation partner,” he said.
Investments to support long-term growth
Wipro Chief Financial Officer Aparna Iyer said the company remains committed to investing in talent and strategic growth areas despite near-term pressure on margins.
“As we navigate an evolving technology landscape, we remain focused on investing in our people and strategic priority areas. While these investments may create some near-term margin volatility, it sets a strong foundation for future growth.”
She added that the company’s Board has declared an interim dividend of ₹2 per equity share. Including the latest payout, Wipro has returned more than $3 billion to shareholders over the past year while continuing to invest for future growth.
Outlook remains cautious
For the quarter ending September 30, 2026, Wipro expects revenue from its IT Services business to be in the range of $2.574 billion to $2.627 billion, translating into sequential constant currency growth of -1.5% to +0.5%.
The guidance reflects a cautious outlook amid an evolving global technology spending environment.
Large client engagements
During the quarter, Wipro secured several strategic contracts, including a multi-year engagement with a global chemicals company to modernise its IT operations using Wipro Intelligence, digital agents, AIOps and GenAI capabilities to improve automation, service stability and cost efficiency.
The company has also secured a renewed multi-year contract with one of the world’s largest technology companies to provide AI-powered geospatial data operations and mapping services through a scalable global delivery model.
These wins further strengthen Wipro’s positioning in AI-enabled enterprise transformation and digital operations