Wipro, the country’s third leading technology player, on Thursday reported a nearly flat net profit of ₹3,352 crore; despite earnings growing in the June quarter.
The sub-1% rise in net profit came on the back of an 11% year-on-year increase in revenue to ₹24,479 crore. Its core IT services business generated revenue of $2.61 billion, down 1.4% sequentially and up 1% YoY.
In the first quarter (Q1) of FY27, Wipro completed total deals worth $3.4 billion, of which large contracts were valued at $1.6 billion, representing a sequential growth of 12.9% on a constant currency basis.
Cautious forecast for the second quarter
Wipro expects IT services business segment revenue to be between $2,574 million and $2,627 million, in line with sequential guidance of (-)1.5% to (+)0.5% at constant currency. This obviously represents a cautious and subdued outlook, primarily driven by market pressures, macroeconomic uncertainty, geopolitical instability and reduced discretionary spending by global customers.
According to analysts, Wipro delivered a resilient performance in the first quarter of FY2027 despite a challenging demand environment, with gross revenue up 1% QoQ and 10.6% YoY and large deal bookings up 12.9% QoQ to $1.63 billion, reflecting continued demand for artificial intelligence (AI) and transformation initiatives business.
Biswajit Maity, Senior Principal Analyst, Gartner, commented, “From a market perspective, Wipro is strengthening its position as an AI-enabled transformation partner through continued investments in consulting, industry solutions, engineering capabilities and innovation ecosystems.” experiments on large-scale implementation of AI.
Srini Pallia, CEO and Managing Director, Wipro, commented, “Customers are shifting from technology modernization to AI-enabled operating models that improve quality, sustainability and productivity.”
Wipro’s AI-driven consulting approach has helped clients embed AI at the core of their businesses, and these commitments reflect both the breadth of the company’s capabilities and the trust clients have in it as a transformation partner, Mr. Pallia envisioned.
Aparna Iyer, Chief Financial Officer, said, “As we navigate the evolving technology landscape, we remain focused on investing in our people and strategic priority areas. While these investments may create some margin volatility in the short term, they provide a strong foundation for future growth.”
The company’s cash flow remained stable during the quarter, with operating cash flow accounting for 98% of net income for the quarter, she said.
“We are also pleased to announce that the Board has declared an interim dividend of £2 per share. With these dividends and the distributions made over the past year, we would have returned more than $3 billion in cash to our shareholders while continuing to invest sustainably in growth,” added Ms. Iyer.
Wipro said it hired 888 employees during the quarter, taking its total headcount to 243,044 as of June 30. The company said it did not hire any new employees in the first quarter as previous batches were still being deployed.
The future depends on the ability to scale AI-led transformation
“Wipro’s future growth will depend on its ability to scale its AI-enabled transformation programs, monetize its platform assets and convert its strong pipeline of deals into revenue,” commented Mr. Maity.
The company’s ongoing investments in Wipro Intelligence, industry AI solutions, consulting capabilities and AI-enabled business offerings position it to benefit from the next wave of spending on enterprise AI and digital transformation, he said.
Published – Jul 16, 2026 8:15 pm EST.