- Wipro's Q1 net profit fell 4.3% sequentially to Rs 3,352 crore, below estimates
- Revenue rose 1% to Rs 24,479 crore, meeting Street expectations
- Operating profit declined 8.4% to Rs 3,829 crore; margins fell to 15.6%
Wipro Ltd.'s net profit for the first quarter of fiscal 2027 fell 4.3% sequentially, according to an exchange filing on Thursday. The IT giant posted a consolidated bottom-line of Rs 3,352 crore, compared to Rs 3,502 crore in the preceding quarter.
The profit decline was slightly higher than street expectations. Analysts' on Bloomberg expected Wipro's profit to come in at 3,466 crore, 1% lower than the previous quarter.
Revenue from operations rose 1% to Rs 24,479 crore from Rs 24,236 crore in Q4 of fiscal 2026, in-line with D-street estimates. Earnings before interest and taxes declined 8.4% to Rs 3,829 crore from Rs 4,181 crore and margin narrowed 160 basis points to 15.6% from 17.2%.
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Wipro has declared an interim dividend of Rs 2, per equity share with face value Rs 2. The company has set July 27, 2026 as the Record Date. The payment of Interim Dividend will be made on or before August 14, 2026.
On the operational front, Wipro's total bookings declined 2.4% quarter-on-quarter in constant currency to $3.37 billion. IT services revenue fell 1.4% sequentially to $2.62 billion, while the IT services operating margin stood at 16% in the first quarter.
The company's trailing 12-month attrition stood at 13.9% at the end of the quarter and total headcount stood at 2.43 Lakh In Q1. Wipro CEO and Managing Director Srini Pallia said AI disruption is expanding the addressable market rather than shrinking it, while adding that the company's deal pipeline remains healthy.
He said the technology and communications vertical continued to show momentum, with the BFSI segment also expected to gather pace in the second quarter. However, the energy and manufacturing verticals remained soft.
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Pallia also said Wipro signed 13 large deals during the first quarter. IT services revenue declined 1.2% quarter-on-quarter, reflecting continued weakness in some segments despite improving momentum in key verticals.
Wipro Q1FY27 Highlights (Cons, QoQ)
Net profit down 4.3% to Rs 3,352 crore from Rs 3,502 crore (estimate of Rs 3,423 crore)
- Revenue up 1% to Rs 24,479 crore from Rs 24,236 crore (estimate of Rs 24,601 crore)
- Ebit down 8.4% to Rs 3,829 crore from Rs 4,181 crore (estimate of Rs 4,037 crore)
- Margin down 160 basis points to 15.6% from 17.2% (estimate of 16.4%)
Management Forecast
For the second quarter of FY27, Wipro expects revenue from its IT Services business to be in the range of $2.57 billion to $2.63 billion. The company has guided for IT services growth of -1.5% to +0.5% on a sequential basis.
Follow all the live earnings updates here.
Wipro Share Price
Wipro's stock closed 1.7% higher at Rs 177.61 apiece on Thursday ahead of the earnings report.
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