During its results, reported after market hours on Wednesday, April 16, Wipro reported constant currency revenue decline of 0.8% during the March quarter on a sequential basis, whereas it had guided for growth to be between a decline of 1% and growth of 1%. The street though, was working with a 0.2% decline.
For the first quarter of financial year 2026, Wipro expects revenue to be between $2,505 million and $2,557 million, implying a revenue decline between -1.5% to -3.5%.
In US Dollar terms, Wipro’s revenue stood at $2,596.5 million, which is in-line with the CNBC-TV18 poll of $2,616 million. On a sequential basis, Wipro’s US Dollar revenue fell 1.2%, while the CNBC-TV18 poll was working with a 0.5% drop from the previous quarter.
For the March quarter, Wipro reported revenue of ₹22,445.3 crore, which is lower than the CNBC-TV18 poll of ₹23,112.5 crore.
The company’s earnings before interest and tax (EBIT) grew by 0.7% from the previous quarter to ₹3,927 crore, which is in-line with expectations of ₹3,957.2 crore.
EBIT margins stood at 17.5%, which is the same level as the previous quarter and higher than the CNBC-TV18 poll of 17.1%. Aparna Iyer, Wipro’s CFO said that the intent will be to maintain the margin in a narrow band during the upcoming quarter.
During the March quarter, Wipro won deals worth $3,955 million, which is a growth of 13.4% on a sequential basis in constant currency terms. Large deal bookings stood at $1,763 million.
“As clients remain cautious in the face of macroeconomic uncertainty, we’re focused on partnering closely with them while staying committed to consistent and profitable growth,” Wipro MD & CEO Srini Pallia said.
Shares of Wipro ended 1.5% higher on Wednesday at ₹247.5. The stock is down 23.5% from its 52-week high of ₹323. Over the last one month, the stock is down 5%.
