Wipro Q1 results: Profit remains flat YoY at 3352 crore
AI Summary
Wipro reported a slight 0.65% increase in consolidated profit for Q1 FY27, reaching ₹3,352 crore, while revenue rose by 10.6% YoY to ₹24,478.6 crore. However, sequentially, profit fell by 4.3% and revenue increased marginally by 1%. The company anticipates a revenue range of $2,574 million to $2,627 million for its IT Services segment, indicating potential volatility in the near term due to ongoing investments in AI and strategic areas.
Wipro Q1 results: India's fourth-largest IT services company by market capitalisation, Wipro, on Thursday, 16 July, reported a 0.65% year-on-year (YoY) rise in its consolidated profit to ₹3,352 crore for the April-June quarter of the financial year 2026-27 (FY27). In the same quarter last year, the IT major's profit was ₹3,330.4 crore.
Revenue from operations for the quarter rose by 10.6% YoY to ₹24,478.6 crore compared to ₹22,134.6 crore in the corresponding quarter of the previous financial year.
Sequentially, or on a quarter-on-quarter basis, Wipro's profit fell 4.3%, while revenue from operations inched up by 1%.
“Clients are moving beyond technology modernisation 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,” said Srini Pallia, CEO and Managing Director, Wipro.
“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. Cash flow remained robust, with operating cash flow at 98% of net income for the quarter," Aparna Iyer, Chief Financial Officer of Wipro, said.
In constant currency (CC), Wipro's revenue fell 1.2% QoQ and increased by 0.9% YoY to $2.61 billion.
Wipro's IT services segment revenue stood at $2,614.5 million for the quarter. It was down 1.2% QoQ in CC.
IT services operating margin decreased 1.3% QoQ and 1.2% YoY to 16%.
Total contract value (TCV) of large deals stood at $1.6 billion, up 12.9% QoQ in CC. Total booking during the quarter, however, declined 2.4% QoQ in CC to $3.4 billion.
Wipro expects revenue from its IT Services business segment to be in the range of $2,574 million to $2,627 million. This translates to sequential guidance of (-)1.5% to (+)0.5% in constant currency terms.
(This is a developing story. Please check back for fresh updates.)
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