Adjusted net income grew 3.7% QoQ in Q4'26 and grew 2.2% YoY for FY'26
FY'26 margin at 17.2%, expands 0.2%, Q4 margin at 17.3%, contracts 0.2% YoY
Operating cash flow at 90.1% of net income for Q4'26 and 112.6% for FY'26
Board approves Buy-Back for the value of Rs 150 billion
EAST BRUNSWICK, N.J. & BANGALORE, India--(BUSINESS WIRE)--April 16, 2026--
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter and year ended March 31, 2026.
Highlights of the Results
Results for the Quarter ended March 31, 2026:
1. Gross revenue at Rs 242.4 billion ($2,583.0 million1), an increase of
2.9% QoQ and 7.7% YoY.
2. IT services segment revenue was at $2,651.0 million, increase of 0.6%
QoQ and 2.1% YoY.
3. Non-GAAP2 constant currency IT Services segment revenue increased 0.2%
QoQ and decreased 0.2% YoY.
4. Total bookings3 was at $3,455 million, up by 3.2% QoQ in constant
currency2. Large deal bookings4 was at $1,440 million, increase of 65.1%
QoQ in constant currency2.
5. IT services operating margin5 for Q4'26 was at 17.3%, decrease of 0.3%
QoQ and 0.2% YoY.
6. Net income for the quarter was at Rs 35.0 billion ($373.2 million1), an
increase of 12.3% QoQ and decrease of 1.9% YoY.
7. Earnings per share for the quarter at Rs 3.34 ($0.041), an increase of
12.1% QoQ and a decrease of 2.1% YoY.
8. Adjusted for impact of labour code changes6, Net Income for the quarter
was Rs 34.9 billion ($371.5 million1), an increase of 3.7% QoQ and EPS
for the quarter was Rs 3.33 ($0.041), increase of 3.7 % QoQ.
9. Operating cash flows of Rs 31.7 billion ($338.2 million1), decrease of
15.3% YoY and at 90.1% of Net Income for the quarter.
10. Voluntary attrition was at 13.8% on a trailing 12-month basis.
Results for the Year ended March 31, 2026:
1. Gross revenue reached Rs 926.2 billion ($9.9 billion1), an increase of
4.0% YoY.
2. IT services segment revenue was at $10,478.1 million, a decrease of
0.3% YoY.
3. Non-GAAP2 constant currency IT Services segment revenue decreased 1.6%
YoY.
4. Large deal bookings4 was at $7.8 billion, up by 45.4% YoY. Total
bookings3 was at $16.4 billion, increase of 14.0% YoY.
5. IT services operating margin5 for the year was at 17.2%, up by 0.2%
YoY.
6. Net income for the year was at Rs 132.0 billion ($1,406.5 million1), an
increase of 0.5% YoY.
7. Earnings per share for the year was at Rs 12.6 ($0.131), an increase of
0.3% YoY.
8. Adjusted for impact of labour code changes6, Net Income for the year
was Rs 134.3 billion ($1430.8 million1), an increase of 2.2% YoY and EPS
for the year was Rs 12.8 ($0.141), increase of 2.1 % YoY.
9. Operating cash flows of Rs 149.3 billion ($1,591.3 million1), decrease
of 11.9% YoY and at 112.6% of Net Income for the year.
Outlook for the Quarter ending June 30, 2026
We expect revenue from our IT Services business segment to be in the range of $2,597 million to $2,651 million*. This translates to sequential guidance of (-)2.0% to 0% in constant currency terms.
*Outlook for the Quarter ending June 30, 2026, is based on the following exchange rates: GBP/USD at 1.34, Euro/USD at 1.17, AUD/USD at 0.70, USD/INR at 92.35 and CAD/USD at 0.73
Performance for the Quarter and Year ended March 31, 2026
Srini Pallia, CEO and Managing Director, said, "Advancements in AI are reshaping client priorities and creating new opportunities for us to partner more deeply to deliver value--driven outcomes. To strengthen our position in an AI--first world, we are pivoting to a services--as--a--software model through the AI Native Business & Platforms unit. Our strategic deal with the Olam Group further reflects the decisive investments we are making to capture opportunities at scale."
Aparna Iyer, Chief Financial Officer, said, "We have continued to invest in our clients, capabilities and people and maintained our margins in narrow band. Our cash conversion continues to remain strong with operating cash flows at 112.6% of net income for FY'26. During the year we have returned substantial portion of our cash generated to shareholders in the form of dividend. Additionally, in our recently concluded board meeting, the Board of Directors announced buyback of Rs 15,000 Cr at a price of Rs 250, subject to shareholder approval."
Capital Allocation:
The Board of Directors approved the buyback proposal, subject to the approval of shareholders through postal ballot, for purchase by the Company of up to 60,00,00,000 equity shares of Rs 2 each (being 5.7% of total paid-up equity share capital) from the shareholders of the Company on a proportionate basis by way of a tender offer at a price of Rs 250 ($2.66(1) ) per equity share for an aggregate amount not exceeding Rs 150 billion ($1.6 billion(1) ) , in accordance with the provisions contained in the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 and the Companies Act, 2013 and rules made thereunder.
The interim dividend of Rs 11 declared in FY'26 by the Board at its meetings held on July 17(th) , 2025 and January 16(th) , 2026, shall be considered as final dividend for the financial year 2025-26.
1. For the convenience of the readers, the amounts in Indian Rupees in
this release have been translated into United States Dollars at the
certified foreign exchange rate of US$1 = Rs 93.83, as published by the
Federal Reserve Board of Governors on March 31, 2026. However, the
realized exchange rate in our IT Services business segment for the
quarter ended March 31, 2026, was US$1= Rs 90.60
2. Constant currency for a period is the product of volumes in that period
times the average actual exchange rate of the corresponding comparative
period.
3. Total Bookings refers to the total contract value of all orders that
were booked during the period including new orders, renewals, and
increases to existing contracts. Bookings do not reflect subsequent
terminations or reductions related to bookings originally recorded in
prior fiscal periods. Bookings are recorded using then-existing foreign
currency exchange rates and are not subsequently adjusted for foreign
currency exchange rate fluctuations. The revenues from these contracts
accrue over the tenure of the contract. For constant currency growth
rates, refer note 2.
4. Large deal bookings consist of deals greater than or equal to $30
million in total contract value.
5. IT Services Operating Margin refers to Segment Results Total as
reflected in IFRS financials.
6. Adjusted for impact of past service cost on gratuity and remeasurement
of leave encashment due to implementation of new labour code amounting to
Rs (-)272 Mn for the three months ended 31st March, 2026 and Rs 2,756Mn
for the year ended 31st March, 2026, is included in the table title
"Reconciliation for Adjusted Net Income and Adjusted EPS" at the end.
Highlights of Strategic Deal Wins
In the fourth quarter, Wipro continued to win large and strategic deals across industries. Key highlights include:
1. A leading US-based health insurance provider has extended its contract
with Wipro to support large-scale IT modernization. To help the client
address rising medical costs, and provide improved member experience,
Wipro will leverage its consulting-led approach and domain expertise to
streamline the client's vendor ecosystem and identify targeted AI-enabled
levers across IT operations, contact centers, and core healthcare
platforms. Wipro will deploy its Wipro IntelligenceTM platforms like WEGA
to enable automation and intelligent execution across IT services and
WINGS to drive predictive insights and performance intelligence. The
engagement is expected to deliver significant productivity gains,
sustained cost optimization, and improved delivery quality and
scalability.
2. A global technology leader has renewed its relationship with Wipro to
transform the IT infrastructure and Digital Workplace Services for one of
its acquired companies. Through a long-term managed services engagement,
Wipro will transfer responsibilities from several suppliers to a unified
delivery model and integrate the client's IT infrastructure. The
engagement will leverage intelligent automation and AI-enabled
capabilities to boost engineer productivity and simplify support request
management. This transformation will enable the client to adopt a
cost-effective integrated operating model, greatly improving employee
experience and service reliability.
3. A leading global medtech company has selected Wipro to transform its
Post Market Surveillance (PMS) process into a more efficient and
intelligent operation. Since this is highly regulated market, Wipro will
initially stabilize the client's PMS and quality landscape and then,
through a consulting-led and AI-powered engagement, transform the
ecosystem into a more efficient and scalable process. By deploying an
AI-enabled solution to streamline the intake and prioritization of health
authority reporting, the engagement will deliver sustained cost
efficiencies, strengthen compliance and business continuity for the
client, while scaling a foundation for modernized post-approval
operations.
4. A global manufacturer has signed a multi-year extension and expansion
of its strategic engagement with Wipro. This renewed contract across the
CIO organization will leverage Wipro Intelligence$(TM)$ to embed AI--led
automation and advanced capabilities that enhance end--to--end visibility,
resilience, and operational efficiency in a transformed delivery model.
The deal also includes a new strategic advisory service and a
shared--benefits model. This extension reflects the strength of the
partnership and the collaborative working model built over the
engagement.
5. TruStage, a leading North American financial services provider has
engaged Wipro for a multi--year transformation of its retirement services
business, bringing together operations and technology into a single,
outcome--driven model. Through a consulting--led, domain--centric
approach, Wipro is modernizing and re--engineering business operations &
underlying technology to improve speed, quality, and scalability. Powered
by Wipro Intelligence(TM), the program embeds AI across workflows to
drive straight--through processing, real--time insights, and proactive
decision--making significantly lowering cost--to--serve. The integrated
cloud-native ops--and--IT model is designed to enhance customer and
sponsor experiences, improve transparency, and enable a more agile,
digitally enabled retirement services ecosystem.
6. ABB Group, a global leader in electrification and automation has signed
a multi-year renewal to modernize its digital workplace and accelerate
its shift to an AI-led service model. Wipro will deliver agentic
AI-powered workplace services across service desk, employee services, and
supply chain operations. The program will introduce an AI-first,
self-resolving service desk featuring smart causal analysis, multilingual
voice and chat translation, and forecasting for proactive device
management. These capabilities will streamline and elevate user
experience. They will also drive measurable productivity improvements and
support the client's sustainability goals through efficient and
responsible device management.
7. A major European health technology organization has renewed its
engagement with Wipro to provide managed services, modernize its
operating model as well as strengthen regulatory oversight and
governance. Wipro will redesign core processes and align workflows across
business units to improve efficiency, compliance, and consistency.
AI--enabled process optimization will be embedded to streamline
operations while maintaining service quality. The engagement will help
the client reduce costs, consolidate complaint handling, and deliver more
predictable, high--performing outcomes, reinforcing Wipro's position as a
trusted long--term partner.
8. A major US retailer has chosen Wipro to modernize its store associate
experience and execution model across a large, distributed store network,
with the goal of improving productivity, consistency, and speed of
operations. Through a consulting-led transformation program, Wipro is
defining a clear operating model for store teams and enhancing day-to-day
execution by providing associates with real time access to operational
data through a mobile app, while establishing a scalable framework for
data driven and AI-enabled store intelligence. This engagement will
improve execution quality and compliance, enhance associate effectiveness
on the floor, and create a strong foundation for AI-led capabilities that
drive incremental sales uplift and improved customer experience.
9. A US-based health insurer has selected Wipro to modernize its member
enrollment, billing, and claims operations by adopting a next-generation
business process platform. Wipro will deploy its PayerAI solution, part
of Wipro Intelligence(TM), to support end-to-end enrollment, billing, and
claims operations across its Medicare Advantage line of business. The
solution combines Payer in a Box for enrollment and billing with
Cognitive Claims for intelligent claims processing, enabling AI-driven
automation, improved accuracy, higher system uptime, and superior
processing quality. This transformation will enhance operational
efficiency and scalability, reduce complexity, strengthen compliance, and
significantly improve the member experience.
10. A leading energy trading company in the UK has selected Capco, a Wipro
company, to establish a Capability as a Service (CaaS) model within its
Energy Trading business. Drawing on its proven CaaS track record and deep
transformation expertise, Capco will provide a flexible, high quality
delivery capability with rapid access to specialist skills. The
engagement includes transitioning critical delivery resources to Capco to
ensure delivery continuity while supporting the client's cost reduction
objectives.
11. A leading global financial services organization has engaged Capco, a
Wipro company, to support the rollout of a coordinated, enterprise-wide
AI strategy. Capco will provide strategic advisory and establish AI
commercialization capabilities, embed Responsible AI practices, and drive
adoption of internal AI tooling to help move the organization from
isolated initiatives to scaled, practical use of AI. This will help the
client accelerate AI adoption, improve returns on AI investments, and
boost overall workforce productivity.
12. A prominent Southeast Asian manufacturer has selected Wipro to
establish a Global Capability Center $(GCC)$ focused on asset operations,
enabling remote maintenance, monitoring, and technical support across its
plants. Leveraging its deep expertise in energy value chain, Wipro will
work with the client to define the GCC operating model, assess process
readiness, and shape an enterprise AI roadmap aligned to asset intensive
operations. Wipro will also identify AI interventions to demonstrate
measurable business value across use cases such as predictive monitoring,
maintenance planning, and proactive technical alerting. Wipro will help
the client accelerate GCC maturity while embedding AI-enabled
capabilities that enhance asset reliability, optimize turnaround cycles,
reduce costs, and streamline plant-level and enterprise-wide operations
at scale.
Analyst Recognition
1. Wipro was recognized as a Leader in ISG Provider Lens(TM) - Advanced
Analytics and AI Services 2025 - US & Europe (all quadrants)
2. Wipro was positioned as a Leader in Everest Group's Software Product
Engineering Services PEAK Matrix$(R)$ Assessment 2026 -- Global
3. Wipro was positioned as a Horizon 3 -- Market Leader in the HFS
Horizons: Agentic Services, 2026 report
4. Wipro was recognized as a Leader in Avasant's Life Sciences Digital
Services 2026 RadarView(TM)
5. Wipro was ranked as a Leader in Avasant's Hybrid Enterprise Cloud
Services 2026 RadarView(TM)
6. Wipro was recognized as a Leader in Everest Group's Healthcare Payer
Intelligent Operations PEAK Matrix(R) Assessment 2026
7. Wipro was rated as a Leader in ISG Provider Lens(R) - Oil & Gas
Industry - Services and Solutions 2025 - North America (all quadrants)
8. Wipro was positioned as a Leader in ISG Provider Lens(R) - Power &
Utilities Industry - Services and Solutions 2025 - US & Europe (all
quadrants)
9. Wipro was rated as a Leader in ISG Provider Lens(R) - Digital
Sustainability 2025 - Global (all quadrants)
10. Wipro was rated as a Leader in ISG Provider Lens(R) - Telecom Media and
Entertainment - Industry Services and Solutions 2025 - North America &
EMEA (multiple quadrants)
11. Wipro was positioned as a Leader in ISG Provider Lens(R) - Enterprise
Managed Network Services 2025 - US & Europe (multiple quadrants)
12. Wipro was featured as a Horizon 3 -- Market Leader in the HFS Horizons:
Next-gen IT Infrastructure Services, 2026 report
IT Products
1. IT Products segment revenue for the quarter was Rs 2.5 billion ($26.9
million1)
2. IT Products segment results for the quarter were Rs 0.2 billion
($2.2million1)
3. IT Products segment revenue for the year was Rs 6.9 billion ($74.0
million1)
4. IT Products segment results for the year were Rs 0.6 billion ($5.9
million1)
Please refer to the table at the end for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis.
About Key Metrics and Non-GAAP Financial Measures
This press release contains key metrics and non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical or future performance, financial position or cash flows that are adjusted to exclude or include amounts that are excluded or included, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS.
The table at the end provides IT Services Revenue on a constant currency basis, which is a non-GAAP financial measure that is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior reporting period. We refer to growth rates in constant currency so that business results may be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Further, in the normal course of business, we may divest a portion of our business which may not be strategic. We refer to the growth rates in both reported and constant currency adjusting for such divestments in order to represent the comparable growth rates.
Our key metrics and non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, the most directly comparable financial measure calculated in accordance with IFRS and may be different from non-GAAP measures used by other companies. Our key metrics and non-GAAP financial measures are not comparable to, nor should be substituted for, an analysis of our revenue over time and involve estimates and judgments. In addition to our non-GAAP measures, the financial statements prepared in accordance with IFRS and the reconciliation of these non-GAAP financial measures with the most directly comparable IFRS financial measure should be carefully evaluated.
Results for the Quarter and Year ended March 31, 2026, prepared under IFRS, along with individual business segment reports, are available in the Investors section of our website www.wipro.com/investors/
Quarterly Conference Call
We will hold an earnings conference call today at 07:45 p.m. Indian Standard Time (10:15 a.m. U.S. Eastern Time) to discuss our performance for the quarter. The audio from the conference call will be available online through a webcast and can be accessed at the following link- https://links.ccwebcast.com/?EventId=WIP160426
An audio recording of the management discussions and the question-and-answer session will be available online and will be accessible in the Investor Relations section of our website at www.wipro.com
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading AI-powered technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs. Leveraging our consulting-led approach and the Wipro Intelligence(TM) unified suite of AI-powered platforms, solutions and transformative offerings, we help clients realize their boldest ambitions to build intelligent and sustainable businesses. The Wipro Innovation Network -- part of the Wipro Intelligence(TM) suite -- underpins our commitment to client-centric co-innovation and co-creation by bringing together capabilities from the innovation labs and partner labs, academia, and global tech communities. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.
Forward-Looking Statements
The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, the benefits its customers experience and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.
Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Rs in millions, except share and per share data, unless otherwise
stated)
As at March 31,
2025 As at March 31, 2026
------------------ ----------------------------
Convenience
translation into
U.S. Dollar in
millions
(unaudited) at
the rate of Rs
93.83
------------------ --------- -----------------
ASSETS
Goodwill 325,014 387,399 4,129
Intangible
assets 27,450 29,176 311
Property, plant
and equipment 80,684 81,787 872
Right-of-Use
assets 25,598 28,287 301
Financial assets
Derivative
assets ^ - -
Investments 26,458 28,053 299
Trade
receivables 299 349 4
Unbilled
receivables - 7,433 79
Other
financial
assets 4,664 6,259 67
Investments
accounted for
using the
equity method 1,327 2,126 23
Deferred tax
assets 2,561 5,242 56
Non-current tax
assets 7,230 7,787 83
Other
non-current
assets 7,460 9,010 96
------------------ --------- -----------------
Total non-current
assets 508,745 592,908 6,320
------------------ --------- -----------------
Inventories 694 517 6
Financial assets
Derivative
assets 1,820 888 9
Investments 411,474 437,680 4,665
Cash and cash
equivalents 121,974 105,555 1,125
Trade
receivables 117,745 135,901 1,448
Unbilled
receivables 64,280 76,823 819
Other
financial
assets 8,448 10,245 109
Contract assets 15,795 14,819 158
Current tax
assets 6,417 10,762 115
Other current
assets 29,128 33,164 353
------------------ --------- -----------------
Total current
assets 777,775 826,354 8,807
------------------ --------- -----------------
TOTAL ASSETS 1,286,520 1,419,262 15,127
------------------ --------- -----------------
EQUITY
Share capital 20,944 20,977 224
Share premium 2,628 6,158 66
Retained
earnings 716,477 735,057 7,834
Share-based
payment
reserve 6,985 7,920 84
Special Economic
Zone
Re-investment
reserve 27,778 25,966 277
Other components
of equity 53,497 89,290 952
------------------ --------- -----------------
Equity attributable
to the equity
holders of the
Company 828,309 885,368 9,437
Non-controlling
interests 2,138 2,509 27
------------------ --------- -----------------
TOTAL EQUITY 830,447 887,877 9,464
------------------ --------- -----------------
LIABILITIES
Financial
liabilities
Loans and
borrowings 63,954 1,962 21
Lease
liabilities 22,193 26,327 281
Accrued
expenses - 4,394 47
Other
financial
liabilities 7,793 6,743 72
Deferred tax
liabilities 16,443 17,266 184
Non-current tax
liabilities 42,024 48,195 514
Other
non-current
liabilities 17,119 23,042 246
Provisions 294 224 2
------------------ --------- -----------------
Total non-current
liabilities 169,820 128,153 1,367
------------------ --------- -----------------
Financial
liabilities
Loans,
borrowings
and bank
overdrafts 97,863 165,912 1,768
Lease
liabilities 8,025 8,709 92
Derivative
liabilities 968 10,978 117
Trade
payables and
accrued
expenses 88,252 94,924 1,012
Other
financial
liabilities 3,878 11,357 120
Contract
liabilities 20,063 25,434 271
Current tax
liabilities 34,481 49,621 529
Other current
liabilities 31,086 34,801 371
Provisions 1,637 1,496 16
------------------ --------- -----------------
Total current
liabilities 286,253 403,232 4,296
------------------ --------- -----------------
TOTAL LIABILITIES 456,073 531,385 5,663
------------------ --------- -----------------
TOTAL EQUITY AND
LIABILITIES 1,286,520 1,419,262 15,127
------------------ --------- -----------------
^ Value is less than
0.5
---------------------- ------------------ --------- -----------------
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Rs in millions, except share and per share data, unless otherwise stated)
Three months ended March 31, Year ended March 31,
------------------------------------------------------- -------------------------------------------------------
2025 2026 2026 2025 2026 2026
--------------- --------------- --------------------- --------------- --------------- ---------------------
Convenience Convenience
translation into US translation into U.S.
dollar in millions Dollar in millions
(unaudited) at the (unaudited) at the
rate of 93.83 rate of 93.83
--------------- --------------- --------------------- --------------- --------------- ---------------------
Revenues 225,042 242,363 2,583 890,884 926,240 9,871
Cost of revenues (155,525) (171,914) (1,832) (617,802) (656,192) (6,993)
-------------- -------------- -------------- ---- -------------- -------------- -------------- ----
Gross profit 69,517 70,449 751 273,082 270,048 2,878
Selling and
marketing
expenses (15,065) (14,003) (149) (64,378) (59,216) (631)
General and
administrative
expenses (15,589) (14,808) (158) (57,465) (61,434) (655)
Foreign exchange
gains/(losses),
net 224 325 3 32 1,853 20
-------------- -------------- -------------- ----- -------------- -------------- -------------- -----
Results from
operating
activities 39,087 41,963 447 151,271 151,251 1,612
Finance expenses (3,767) (3,701) (39) (14,770) (14,577) (156)
Finance and other
income 11,819 8,387 89 38,202 36,491 389
Share of net
profit/ (loss)
of associate and
joint venture
accounted for
using the equity
method 291 27 ^ 254 257 3
-------------- -------------- --------------------- -------------- -------------- -------------- -----
Profit before tax 47,430 46,676 497 174,957 173,422 1,848
Income tax
expense (11,549) (11,460) (122) (42,777) (40,767) (434)
-------------- -------------- -------------- ---- -------------- -------------- -------------- ----
Profit for the
period 35,881 35,216 375 132,180 132,655 1,414
-------------- -------------- -------------- ----- -------------- -------------- -------------- -----
Profit attributable
to:
Equity holders of
the Company 35,696 35,018 373 131,354 131,974 1,407
Non-controlling
interests 185 198 2 826 681 7
-------------- -------------- -------------- ----- -------------- -------------- -------------- -----
Profit for the
period 35,881 35,216 375 132,180 132,655 1,414
-------------- -------------- -------------- ----- -------------- -------------- -------------- -----
Earnings per equity
share:
Attributable to
equity holders of
the Company
Basic 3.41 3.34 0.04 12.56 12.60 0.13
Diluted 3.39 3.33 0.04 12.52 12.56 0.13
Weighted average
number of equity
shares
used in computing
earnings per equity
share
Basic 10,462,328,534 10,479,105,556 10,479,105,556 10,456,741,552 10,476,247,846 10,476,247,846
Diluted 10,490,716,219 10,504,875,601 10,504,875,601 10,488,939,392 10,503,422,936 10,503,422,936
^ Value is less than 0.5
--------------------------------------------------------------------------------------------------------------------------------------
Information on reportable segments for the three months ended March 31, 2026, December 31, 2025, March 31, 2025, year ended March 31, 2026, and March 31, 2025 are as follows:
Particulars Three months ended Year ended
--------------- ----------------------------- ----------------------
March December
31, 31, March March March
2026 2025 31, 2025 31, 2026 31, 2025
--------------- -------- -------- --------- --------- -----------
Audited Audited Audited Audited Audited
--------------- -------- -------- --------- --------- -----------
Segment revenue
IT Services
Americas 1 79,844 77,809 73,721 305,571 281,824
Americas 2 67,288 67,708 68,582 269,077 271,972
Europe 65,412 62,405 58,552 244,165 240,077
APMEA 27,623 25,859 23,598 102,340 94,351
------- ------- -------- -------- --------
Total of IT
Services 240,167 233,781 224,453 921,153 888,224
IT Products 2,521 2,565 813 6,940 2,692
--------------- ------- ------- -------- -------- --------
Total segment
revenue 242,688 236,346 225,266 928,093 890,916
--------------- ------- ------- -------- -------- --------
Segment result
IT Services
Americas 1 16,058 16,409 16,195 62,896 58,186
Americas 2 12,181 14,450 15,513 53,138 61,326
Europe 10,092 8,003 8,140 31,083 29,434
APMEA 5,085 3,583 3,672 14,955 12,850
Unallocated (1,899) (1,259) (4,250) (3,426) (10,157)
------- ------- -------- -------- --------
Total of IT
Services 41,517 41,186 39,270 158,646 151,639
IT Products 211 227 28 559 (173)
Reconciling
Items 235 (5,678) (211) (7,954) (195)
--------------- ------- ------- -------- -------- --------
Total segment
result 41,963 35,735 39,087 151,251 151,271
--------------- ------- ------- -------- -------- --------
Finance
expenses (3,701) (3,656) (3,767) (14,577) (14,770)
Finance and
other income 8,387 9,232 11,819 36,491 38,202
Share of net
profit/ (loss)
of associate
and joint
venture
accounted for
using the
equity method 27 28 291 257 254
--------------- ------- ------- -------- -------- --------
Profit before
tax 46,676 41,339 47,430 173,422 174,957
--------------- ------- ------- -------- -------- --------
Additional Information:
The Company is organized into the following operating segments: IT Services and IT Products.
IT Services: The IT Services segment primarily consists of IT services offerings to customers organized by four Strategic Market Units ("SMUs") - Americas 1, Americas 2, Europe and Asia Pacific Middle East and Africa ("APMEA"). Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries.
Americas 1 includes the entire business of Latin America ("LATAM") and the following industry sectors in the United States of America: Communications, media and information services, Software and gaming, New age technology, Consumer goods, medical devices and life sciences, Healthcare, and Technology products and services.
Americas 2 includes the entire business in Canada and the following industry sectors in the United States of America: Banking and financial services, Energy, Manufacturing and resources, Capital markets and insurance, and Hi-tech.
Europe consists of the United Kingdom and Ireland, Switzerland, Germany, Northern Europe and Southern Europe.
APMEA consists of Australia and New Zealand, India, Middle East, South-East Asia, Japan and Africa.
Revenue from each customer is attributed to the respective SMUs based on the location of the customer's primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer's buying centers, but the total revenue related to these strategic global customers are attributed to a single SMU based on the geographical location of key decision makers.
IT Products: The Company is a value-added reseller of security, packaged and SaaS software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to these items is reported as revenue from the sale of IT Products.
Reconciliation of selected GAAP measures to Non-GAAP measures
1. Reconciliation of Non-GAAP Constant Currency IT Services Revenue to IT Services Revenue as per IFRS ($Mn)
Three Months ended March 31, 2026
IT Services Revenue as per IFRS $2,651.0
Effect of Foreign currency exchange movement ($9.6)
--------
Non-GAAP Constant Currency IT Services Revenue
based on previous quarter exchange rates $2,641.4
--------------------------------------------------------------- --------
Three Months ended March 31, 2026
IT Services Revenue as per IFRS $2,651.0
Effect of Foreign currency exchange movement ($58.8)
--------
Non-GAAP Constant Currency IT Services Revenue
based on exchange rates of comparable period in previous year $2,592.2
--------------------------------------------------------------- --------
Year ended March 31, 2026
IT Services Revenue as per IFRS $10,478.1
Effect of Foreign currency exchange movement ($132.9)
---------
Non-GAAP Constant Currency IT Services Revenue
based on previous year exchange rates $10,345.2
----------------------------------------------- ---------
2. Reconciliation of Free Cash Flow for three months and twelve months ended March 31, 2026
Amount in INR Mn
------------------------- ---------------------------------------------------
Three months ended March Twelve months ended
31, 2026 March 31, 2026
------------------------- ------------------------- ------------------------
Net Income for the period
[A] 35,216 132,655
------------------------- ------------------------- ------------------------
Computation of Free Cash
Flow
------------------------- ------------------------- ------------------------
Net cash generated from
operating activities
[B] 31,731 149,316
------------------------- ------------------------- ------------------------
Add/ (deduct) cash
inflow/ (outflow)on:
------------------------- ------------------------- ------------------------
Purchase of property,
plant and equipment (4,821) (15,603)
------------------------- ------------------------- ------------------------
Proceeds from sale of
property, plant and
equipment 1 758
------------------------- ------------------------- ------------------------
Free Cash Flow [C] 26,911 134,471
------------------------- ------------------------- ------------------------
Operating Cash Flow as
percentage of Net Income
[B/A] 90.1% 112.6%
------------------------- ------------------------- ------------------------
Free Cash Flow as
percentage of Net Income
[C/A] 76.4% 101.4%
------------------------- ------------------------- ------------------------
3. Reconciliation for Adjusted Net Income and Adjusted EPS
Amounts in INR Mn
------------------------------------- ---------------------------------------
Three months ended Twelve months ended
Particulars March 31, 2026 March 31, 2026
------------------------------------- ------------------ -------------------
Net Income [A] 35,018 131,974
------------------------------------- ------------------ -------------------
Add: Impact of gratuity expenses and
remeasurement of leave encashment
due to implementation of new labour
code [B] (272) 2,756
------------------------------------- ------------------ -------------------
Less[C]: Tax on [B] 115 (475)
------------------------------------- ------------------ -------------------
Adjusted Net Income [D]: [A+B+C] 34,861 134,255
------------------------------------- ------------------ -------------------
Adjusted EPS Basic (Rs) 3.3 12.8
------------------------------------- ------------------ -------------------
View source version on businesswire.com: https://www.businesswire.com/news/home/20260416585496/en/
CONTACT: Contact for Investor Relations
Abhishek Jain
Phone: +91-80-6142 6143
abhishek.jain2@wipro.com
Contact for Media & Press
Dinesh Joshi
Phone: +91 92052-64001
media-relations@wipro.com
(END) Dow Jones Newswires
April 16, 2026 11:58 ET (15:58 GMT)
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