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Wipro Q4 Results Review: Tariffs, Macro Uncertainty Drive Poor Q1 Guidance; Motilal Oswal Maintains 'Sell'

Motilal Oswal cuts its FY26E/FY27E EPS estimates by ~4% to account for weak Q1 FY26 guidance and sustained demand softness in key verticals and regions.

<div class="paragraphs"><p>Wipro Ltd. reported Q4 FY25 IT Services revenue of $2.6 billion, down 0.8% QoQ in constant currency, below Motilal Oswal's  estimate of flat QoQ</p><p> (Photo Source: Wipro Limited verified twitter handle)</p></div>
Wipro Ltd. reported Q4 FY25 IT Services revenue of $2.6 billion, down 0.8% QoQ in constant currency, below Motilal Oswal's estimate of flat QoQ

(Photo Source: Wipro Limited verified twitter handle)

As per Wipro's management, client spends deteriorated toward the end of Q4, and Q1 could see further impact. A soft guidance of 3.5% to 1.5% cc QoQ revenue decline reflects this. Will the situation become immediately better in Q2? It’s too early to say.
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