Revenue increased 0.9% YoY in CC
Large deal bookings at $1.6 Bn, grew 12.9% QoQ, including 13 large deals in Q1
Net income grew 0.6% YoY; Operating cash flow at 98% of Net income
EAST BRUNSWICK, N.J. & BANGALORE, India--(BUSINESS WIRE)--July 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 ended June 30, 2026.
Highlights of the Results
Results for the Quarter ended June 30, 2026:
1. Gross revenue at Rs 244.8 billion ($2,585.9 million1), an increase of
1.0% QoQ and 10.6% YoY.
2. IT services segment revenue was at $2,614.5 million, decrease of -1.4%
QoQ and increase of 1.0% YoY.
3. Non-GAAP constant currency2 IT Services segment revenue decreased 1.2%
QoQ and increased 0.9% YoY.
4. Total bookings3 was at $3,370 million, down by 2.4% QoQ in constant
currency2. Large deal bookings4 was at $1,626 million, increase of 12.9%
QoQ in constant currency2.
5. IT services operating margin5 for Q1'27 was at 16.0%, decrease of 1.3%
QoQ and 1.2% YoY.
6. Net income for the quarter was at Rs 33.6 billion ($354.6million1),
decrease of 4.7% QoQ and increase of 0.6% YoY.
7. Earnings per share for the quarter at Rs 3.20 ($0.031), decrease of
4.2% QoQ and increase of 0.6% YoY.
8. Operating cash flows of Rs 32.9 billion ($348 million1), increase of
3.6% QoQ and at 98.0% of net income for the quarter.
9. Voluntary attrition was at 13.9% on a trailing 12-month basis.
10. Declared interim dividend of Rs 2 ($0.021) per equity share/ADS.
Outlook for the Quarter ending September 30, 2026
We expect revenue from our 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.
*Outlook for the Quarter ending September 30, 2026, is based on the following exchange rates: GBP/USD at 1.34, Euro/USD at 1.16, AUD/USD at 0.71, USD/INR at 94.50 and CAD/USD at 0.71
Performance for the Quarter ended June 30, 2026
Srini Pallia, CEO and Managing Director, said, "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."
Aparna Iyer, Chief Financial Officer, said, "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. We are also pleased to share that the Board has declared an interim dividend of Rs 2 per share. Including this dividend and payouts made over the past year, we would have returned more than $3 Bn in cash to our shareholders while continuing to invest steadily for growth."
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 94.66, as published by the
Federal Reserve Board of Governors on June 30, 2026. However, the
realized exchange rate in our IT Services business segment for the
quarter ended June 30, 2026, was US$1= Rs 93.53
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 $30
million in total contract value.
5. IT Services Operating Margin refers to Segment Results Total as
reflected in IFRS financials.
Highlights of Strategic Deal Wins
In the first quarter, Wipro continued to win large and strategic deals across industries. Key highlights include:
1. A global chemicals company has selected Wipro for a multi-year deal to
modernize its IT operations. As part of the engagement, Wipro will use
its consulting-led approach to consolidate multiple vendors into a single,
integrated operating model and manage infrastructure and application
services end-to-end. Powered by Wipro Intelligence$(TM)$, the solution will
embed digital agents, AIOps and GenAI-enabled capabilities to increase
automation, prevent issues, and improve resolution times. This will help
the client deliver structural cost optimization, enhance service
stability, increase transparency, and build a scalable, future-ready IT
operating model.
2. One of the world's largest global technology companies has renewed its
multi-year engagement with Wipro to innovate in the arena of Geospatial
Data Operations and mapping. Wipro will provide end-to-end support for
the Geospatial Data Operations ecosystem, through a scalable, AI-powered
global delivery model. Leveraging AI-enabled automation, analytics, and
data-driven insights, through a robust governance framework, Wipro will
drive operational resilience, improve quality, and accelerate product
deployment for the client. Wipro will enable the client to maximize
productivity and enhance decision making in an evolving business
environment.
3. A leading global technology provider has expanded its decades-long
engagement with Wipro to enhance the quality and reliability of its
products that support millions of users worldwide. Wipro will deliver
AI-infused quality engineering services, leveraging automation and
intelligent testing capabilities, to accelerate development cycles. The
engagement builds on Wipro's deep domain expertise and longstanding role
in supporting the client's engineering ecosystem. This collaboration will
help reduce time to market, improve operational efficiency, and
strengthen the reliability of critical software releases.
4. A leading US-based health insurer has extended and expanded its
long-standing engagement with Wipro to enhance digital workplace and
end-user support services across its enterprise. Wipro will deploy a
unified operating model designed to ensure business continuity and
operational efficiency. Leveraging automation and AI-infused capabilities,
Wipro will further enhance service delivery, improve responsiveness, and
enhance employee technology experience. This renewal will help the client
maintain reliable, scalable workplace operations while supporting future
modernization initiatives and productivity improvements.
5. A leading US-based hospital network has selected Wipro to provide
integrated application management and enterprise IT transformation. Wipro
will deliver a comprehensive managed services model spanning operational
support, governance, and security, enabling the client to improve
operational efficiency, service reliability, and accelerate continuous
innovation. Leveraging its AI-delivery platforms, WINGS and WEGA, Wipro
will establish a strategic AI and Agentic AI roadmap aligned to the
client's business objectives, to drive intelligent automation, improved
workforce productivity, and measurable business outcomes.
6. A global US-based specialty Chemicals company has expanded its
relationship with Wipro to lead an AI-first transformation of its
business and technology landscape. Under the new agreement, Wipro will
provide end-to-end support for the client's global Enterprise
applications, as well as business processes. Wipro will deploy its
proprietary WINGS AI platform to introduce a unified operating model,
aimed at simplifying and optimizing operations. AI will be the
cornerstone of the program, driving intelligent automation, and enabling
smarter, data-driven decision-making across all workflows. This
transformation will unlock significant efficiencies, reduce complexity,
and accelerate value for the client - further reinforcing the
long-standing engagement between the two companies.
7. A leading Australian health and community services provider has
selected Wipro to modernize its technology landscape and improve
reliability and performance of services that support frontline care and
community operations. Through a consulting-led engagement, Wipro will
take end-to-end ownership of the client's IT services, bringing
applications, cloud, networks, and workplace support into a more
integrated and accountable delivery model. The engagement will also embed
intelligent automation and proactive monitoring to improve issue
resolution, strengthen service quality, and create a simpler, more
seamless technology experience for employees. This transformation will
help the client enhance operational resilience, improve user experience,
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