Results     17-Jul-26
Analysis
Wipro
Revenue up 10.6% yoy to Rs 24478 crore in Q1FY2027
On consolidated basis

Quarter ended June 2026 compared with Quarter ended March 2026.

Net sales (including other operating income) of Wipro has increased 1% to Rs 24478.6 crore.  

Operating profit margin has declined from 20.26% to 18.93%, leading to 5.62% decline in operating profit to Rs 4,633.20 crore.  Purchase of finished goods cost fell from 0.69% to 0.50%.   Employee cost increased from 59.23% to 60.18%.   Other expenses rose from 19.80% to 20.41%.   Selling and administration expenses rose from 3.38% to 3.83%.   Software technology development services cost rose from 11.53% to 11.74%.   

Other income rose 14.61% to Rs 979 crore.  PBIDT fell 2.63% to Rs 5612.2 crore.  Provision for interest rose 27.75% to Rs 472.8 crore.  

PBDT fell 4.71% to Rs 5139.4 crore.  Provision for depreciation rose 10.42% to Rs 804.4 crore.  

Profit before tax down 7.07% to Rs 4,335.00 crore.  Provision for tax was expense of Rs 978.2 crore, compared to Rs 1146 crore.  Effective tax rate was 22.57% compared to 24.55%.

Minority interest decreased 78.28% to Rs 4.30 crore.  Net profit attributable to owners of the company decreased 4.28% to Rs 3,352.00 crore.  

Promoters’ stake was 72.59% as of 30 June 2026 ,compared to 72.62% as of 31 March 2026 .  

 

Quarter ended June 2026 compared with Quarter ended June 2025.

Net sales (including other operating income) of Wipro has increased 10.59% to Rs 24478.6 crore.  Sales of IT Services segment has gone up 10.75% to Rs 24,452.90 crore (accounting for 99.58% of total sales).  Sales of IT Products segment has gone up 42.31% to Rs 103.60 crore (accounting for 0.42% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 6.91% to Rs 3,999.00 crore.  PBIT of IT Services segment rose 6.93% to Rs 3,997.40 crore (accounting for 99.96% of total PBIT).  PBIT of IT Products segment fell 20.00% to Rs 1.60 crore (accounting for 0.04% of total PBIT).  

PBIT margin of IT Services segment fell from 16.93% to 16.35%.  PBIT margin of IT Products segment fell from 2.75% to 1.54%.  Overall PBIT margin fell from 16.88% to 16.28%.  

Operating profit margin has declined from 19.12% to 18.93%, leading to 9.45% rise in operating profit to Rs 4,633.20 crore.  Purchase of finished goods cost rose from 0.25% to 0.50%.   Employee cost decreased from 60.70% to 60.18%.   Other expenses rose from 19.92% to 20.41%.   Selling and administration expenses rose from 3.33% to 3.83%.   Software technology development services cost rose from 11.56% to 11.74%.   

Other income fell 8.20% to Rs 979 crore.  PBIDT rose 5.90% to Rs 5612.2 crore.  Provision for interest rose 31.04% to Rs 472.8 crore.  

PBDT rose 4.06% to Rs 5139.4 crore.  Provision for depreciation rose 17.35% to Rs 804.4 crore.  

Profit before tax grew 1.92% to Rs 4,335.00 crore.  Provision for tax was expense of Rs 978.2 crore, compared to Rs 921.8 crore.  Effective tax rate was 22.57% compared to 21.65%.

Minority interest decreased 29.51% to Rs 4.30 crore.  Net profit attributable to owners of the company increased 0.65% to Rs 3,352.00 crore.  

Promoters’ stake was 72.59% as of 30 June 2026 ,compared to 72.66% as of 30 June 2025 .  


Full year results analysis.

Net sales (including other operating income) of Wipro has increased 3.97% to Rs 92624 crore.  Sales of IT Services segment has gone up 3.71% to Rs 92,115.30 crore (accounting for 99.25% of total sales).  Sales of IT Products segment has gone up 157.80% to Rs 694.00 crore (accounting for 0.75% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has slumped 3.62% to Rs 15,577.90 crore.  PBIT of IT Services segment fell 4.06% to Rs 15,522.00 crore (accounting for 99.64% of total PBIT).  PBIT of IT Products reported profit of Rs 55.90 crore compared to loss of Rs 17.30 crore.  

PBIT margin of IT Services segment fell from 18.22% to 16.85%.  PBIT margin of IT Products segment rose from negative 6.43% to 8.05%.  Overall PBIT margin fell from 18.14% to 16.78%.  

Operating profit margin has declined from 20.23% to 19.23%, leading to 1.17% decline in operating profit to Rs 17,811.20 crore.  Purchase of finished goods cost rose from 0.33% to 0.62%.   Employee cost increased from 59.89% to 60.02%.   Other expenses rose from 19.54% to 20.12%.   Selling and administration expenses fell from 3.68% to 3.34%.   Software technology development services cost rose from 11.24% to 11.63%.   

Other income fell 0.27% to Rs 3873.7 crore.  PBIDT fell 1.01% to Rs 21684.9 crore.  Provision for interest fell 1.31% to Rs 1457.7 crore.  Loan funds rose to Rs 20,291.00 crore as of 31 March 2026 from Rs 19,203.50 crore as of 31 March 2025.  Inventories declined from Rs 69.40 crore as of 31 March 2025 to Rs 51.70 crore as of 31 March 2026.  Sundry debtors were higher at Rs 13,590.10 crore as of 31 March 2026 compared to Rs 11,774.50 crore as of 31 March 2025.  Cash and bank balance declined from Rs 12,197.40 crore as of 31 March 2025 to Rs 10,555.50 crore as of 31 March 2026.  Investments rose to Rs 46,785.90 crore as of 31 March 2026 from Rs 43,925.90 crore as of 31 March 2025 .  

PBDT fell 0.98% to Rs 20227.2 crore.  Provision for depreciation fell 1.60% to Rs 2910.7 crore.  Fixed assets declined from Rs 13,348.50 crore as of 31 March 2025 to Rs 10,963.30 crore as of 31 March 2026.  Intangible assets increased from Rs 32,034.60 crore to Rs 41,139.00 crore.  

Profit before tax down 0.88% to Rs 17,316.50 crore.  Share of profit/loss was 1.18% higher at Rs 25.7 crore.  Provision for tax was expense of Rs 4076.7 crore, compared to Rs 4277.7 crore.  Effective tax rate was 23.51% compared to 24.45%.

Minority interest decreased 17.55% to Rs 68.10 crore.  Net profit attributable to owners of the company increased 0.47% to Rs 13,197.40 crore.  

Equity capital increased from Rs 2,094.40 crore as of 31 March 2025 to Rs 2,097.70 crore as of 31 March 2026.  Per share face Value remained same at Rs 2.00.  

Promoters’ stake was 72.62% as of 31 March 2026 ,compared to 72.73% as of 31 March 2025 .  

Cash flow from operating activities decreased to Rs 14,931.60 crore for year ended March 2026 from Rs 16,942.60 crore for year ended March 2025.  Cash flow used in acquiring fixed assets during the year ended March 2026 stood at Rs 1,560.30 crore, compared to Rs 1,473.70 crore during the year ended March 2025.  

Guidance: 

Revenue from IT Services business segment to be in the range of $2574 million to $2,627 million in Q2FY2027. This translates to sequential IT services revenue growth of -1.5% to +0.5% in constant currency.

Dividend: The company has declared dividend of Rs 2 per equity share.

 

Management Commentary:

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 ?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.”

 

Wipro : Consolidated Results
 Quarter endedYear ended
Particulars202606202506Var.(%)202603202503Var.(%)
Net Sales (including other operating income)24,478.6022,134.6010.5992,624.0089,088.403.97
OPM (%)18.9319.12-20 bps19.2320.23-100 bps
OP4,633.204,233.109.4517,811.2018,021.20-1.17
Other Inc.979.001,066.50-8.203,873.703,884.00-0.27
PBIDT5,612.205,299.605.9021,684.9021,905.20-1.01
Interest472.80360.8031.041,457.701,477.00-1.31
PBDT5,139.404,938.804.0620,227.2020,428.20-0.98
Depreciation804.4685.517.352910.72957.9-1.60
PBT4,335.004,253.301.9217316.517470.3-0.88
Share of Profit/(Loss) from Associates-0.55PL25.725.41.18
PBT before EO4334.54258.31.7917342.217495.7-0.88
EO Income00-00-
PBT after EO4334.54258.31.7917342.217495.7-0.88
Taxation978.2921.86.124076.74277.7-4.70
PAT3356.33336.50.5913265.5132180.36
Minority Interest (MI)4.36.1-29.5168.182.6-17.55
Net profit33523330.40.6513197.413135.40.47
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations33523330.40.6513197.413135.40.47
EPS (Rs)*3.383.360.6513.3313.260.47
* EPS is on current equity of Rs 1,980.78 crore, Face value of Rs 2, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database


Wipro : Consolidated Segment Results
 Quarter endedYear ended
% of (Total)202606202506Var.(%)% of (Total)202603202503Var.(%)
Sales
Global IT Services & Products0.000.000.00-
India & Asia Pac IT Serv. & Product0.000.000.00-
Consumer Care & Lighting0.000.000.00-
Others0.000.000.00-
IT Services99.5824,452.9022,080.0010.7599.2592,115.3088,822.403.71
IT Products0.42103.6072.8042.310.75694.00269.20157.80
IT Services & Products0.000.000.00-
India State Run Enterprise0.000.000.00-
Total Reported Sales100.0024,556.5022,152.8010.85100.0092,809.3089,091.604.17
Less: Inter segment revenues 0.000.00- 0.000.00-
Net Sales100.0024,556.5022,152.8010.85100.0092,809.3089,091.604.17
PBIT
Global IT Services & Products0.000.000.00-
India & Asia Pac IT Serv. & Product0.000.000.00-
Consumer Care & Lighting0.000.000.00-
Others0.000.000.00-
IT Services99.963,997.403,738.406.9399.6415,522.0016,179.60-4.06
IT Products0.041.602.00-20.000.3655.90-17.30LP
IT Services & Products0.000.000.00-
India State Run Enterprise0.000.000.00-
Total PBIT100.003,999.003,740.406.91100.0015,577.9016,162.30-3.62
Less : Interest472.80360.8031.041,457.701,477.00-1.31
Add: Other un-allcoable808.30878.70-8.013,222.002,810.4014.65
PBIT Margin(%)
Global IT Services & Products 0.000.000.00
India & Asia Pac IT Serv. & Product 0.000.000.00
Consumer Care & Lighting 0.000.000.00
Others 0.000.000.00
IT Services 16.3516.93-58.38 16.8518.22-136.51
IT Products 1.542.75-120.29 8.05-6.431,448.12
IT Services & Products 0.000.000.00
India State Run Enterprise 0.000.000.00
PBT100.004,334.504,258.301.79100.0017,342.2017,495.70-0.88
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