Wipro Q1FY27 earnings Highlights: Net profit flat, margins at multi-quarter lows; Q2 revenue growth outlook at -1.5% to 0.5%

The company’s net income for the June quarter was reported at Rs 3360 crore declining 4.6% QoQ but rising 0.6% YoY

Wipro’s headcount stood at 243,044 employees, increasing from 2,42,156 employees at the end of Q4FY26. This shows an addition of 888 employees.

Voluntary attrition stood at 13.9% on a trailing 12-month basis.

Wipro’s IT Services operating margin came in at 16%, down 130 basis points sequentially and 120 basis points year-on-year.

Wipro’s IT Services business, however, reported revenue of $2.61 billion, down 1.4% quarter-on-quarter but up 1% year-on-year. In constant currency terms, IT Services revenue declined 1.2% sequentially and increased 0.9% from a year ago.

Two of the ​company’s five verticals saw a decline, ‌led by an 8.9% drop in the manufacturing vertical. Revenue from the part of its Americas ‌geography, which comprises its ​banking and ​manufacturing ​verticals in the US, Latin America and Canada, fell 7.3%.

Wipro’s total deal wins ​came in at $3.37 billion in Q1FY27, down from $3.5 billion ⁠in the preceding quarter and $5 billion a year earlier.

“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 ₹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,” said, Aparna Iyer, Chief Financial Officer of Wipro.

“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,” said, Srini Pallia, CEO and Managing Director of Wipro.

“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,” Wipro said in its exchange filing.

The IT major posted a rise of 0.65% in its consolidated net profit at Rs 3,352 crore for June quarter against Rs 3,330 reported in the year-ago period. However, Wipro’s profit declined 4% sequentially.

Wipro’s revenue from operation rose over 10% YoY to Rs 24,479 crore from Rs 22,135 crore reported in Q1FY26. On a QoQ basis it climbed 1%.

Wipro’s board has approved the payment of an interim dividend of Rs 2 per equity share of Rs 2 each for Q1FY27. The record date for the same has been fixed for July 27, 2026. The payment of Interim Dividend will be made on or before August 14, 2026, the company said in its filing.

The share price of Wipro closed in green on Thursday, increasing 1.83% from the previous day’s close at Rs 177.80. The stock has fell 2.68% in last one week. Wipro shares declined 15.41% in past three months. On YTD basis, the stock has fell 33.48%.

DRChoksey FinServ also expects Wipro to report a soft Q1FY27 with dollar revenue declining approximately 1.4% QoQ to $2,613 Mn.

“Q2FY27 guidance is expected to be muted at (1%) to +1% QoQ CC, reflecting continued macro uncertainty and AI deflation feeding into client budgets. A weaker than expected guide could trigger further de rating from the already discounted multiple,” DRChoksey FinServ noted.

Motilal Oswal expects Wipro’s revenue to decline 1.3% quarter-on-quarter (QoQ) in constant currency (CC) and 1.5% in dollar terms.

“IT services are expected to decline approximately 1.3% QoQ CC including approximately 1.0% inorganic contribution from Mindsprint, as delayed ramp-ups, weakness in a large client, and softer US BFSI more than offset the acquisition benefit,” Motilal Oswal noted.

In rupee terms, revenue is likely to rise 12.7% year-on-year (YoY) to Rs 24,950 crore, mainly due to currency movements.

Wipro in the previous quarter also announced a Rs 15,000 crore share buyback, its first in over five years. On the workforce front, Wipro said it would continue fresher hiring in FY27, although the pace would remain demand-driven. The company also indicated that annual salary hikes would be rolled out in phases during FY27

In the previous quarter, Wipro reported a consolidated net profit of Rs 3,502 crore, down around 2% year-on-year, while revenue increased nearly 8% YoY to Rs 24,236 crore.

Wipro said in Q4FY26 that it expects their IT services revenue to be in the range of $2.60 billion to $2.65 billion for Q1FY27. This translates into a sequential growth guidance of -2% to 0% in constant currency terms

Wipro shares rose 1.78% in intraday trading ahead of the company’s Q1FY27 earnings release. The stock has declined 15.41% over the past three months. On a year-to-date (YTD) basis, Wipro shares have fallen 33.48%.

Greetings! The Q1FY27 earnings season continues, with Wipro set to announce its first quarter earnings today after TCS and HCLTech announced their results earlier on July 9 and July 13.

Follow this live blog for real-time updates on Wipro’s financial performance, dividend declaration (if any), and key management insights. Stay tuned for the latest developments as they unfold.