India · Delayed Price · Currency is INR Wipro Earnings Call Transcripts
Fiscal Year 2026
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Q4 IT services revenue was $2.65B, up 0.2% sequentially, with operating margin at 17.3%. Full-year revenue declined 1.6% year-on-year, but net income rose 2.2%. A record INR 15,000 crore buyback was announced, and strategic AI investments continue.
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Q4 IT services revenue was $2.65B, up 0.2% sequentially, with operating margin at 17.3%. Full-year revenue declined 1.6% year-over-year, but deal momentum remains strong, highlighted by a $1B+ Olam deal and the launch of an AI Native Business unit.
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Q3 FY2026 saw sequential revenue and margin growth, driven by broad-based sector gains and the Harman DTS acquisition. Guidance for Q4 projects 0–2% sequential revenue growth, with margin resilience expected despite ongoing macroeconomic and deal ramp-up challenges.
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Q3 saw sequential revenue and margin growth, driven by broad-based sector gains and the Harman DTS acquisition. Guidance for Q4 projects up to 2% sequential growth, with AI and innovation as key themes. Over $1.3B was distributed to shareholders in FY 2026.
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Q2 saw modest sequential revenue growth and stable adjusted margins, with strong deal wins and a robust pipeline, especially in BFSI and healthcare. Margin headwinds from large deal ramp-ups and sector-specific challenges persist, but guidance for Q3 is positive.
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Q2 IT services revenue reached $2.6B with 0.3% sequential growth and a 17.2% adjusted margin. Bookings totaled $4.7B, driven by AI and vendor consolidation, while guidance for Q3 projects up to 1.5% sequential growth. Europe and APMEA showed positive momentum.
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Q1 FY26 saw muted demand amid macro uncertainty, but strong deal wins drove $5B in bookings, up 51% YoY, with large deals and AI-led solutions fueling optimism for H2. Revenue declined 2% YoY, but net income rose 10.9% and margins expanded.
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Q1 saw muted demand amid macro uncertainty, but strong deal wins drove optimism for H2. Revenue declined YoY, but margins and net income improved, supported by operational excellence and robust cash flow. AI and vendor consolidation remain key growth drivers.
Fiscal Year 2025
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Q4 revenue declined 0.8% sequentially and 1.2% year-on-year, with full-year revenue down 2.3%. Operating margins improved to 17.5% in Q4, and large deal wins grew 17.5% year-on-year. Guidance for Q1 FY26 anticipates a sequential revenue decline of 3.5% to 1.5%.
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Q4 IT services revenue declined 0.8% sequentially to $2.6B, with operating margins at 17.5%. Large deal wins and improved client satisfaction were offset by macroeconomic uncertainty, leading to a cautious revenue outlook of -3.5% to -1.5% for Q1 FY26.
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Q3 FY25 delivered resilient results with IT services revenue of $2.63B, 17.5% operating margin, and strong deal wins, especially in AI. Americas led growth, while Europe and APMEA remained soft. Capital return to shareholders will rise to 70%+ of net income over three years.
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Q2 FY25 saw revenue of $2.66B and 16.8% operating margin, with strong deal wins and cash flow. Guidance for Q3 is cautious due to seasonal furloughs and client-specific challenges, but deal pipeline and sector momentum remain robust.
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Q1 FY25 saw a 1% sequential revenue decline in constant currency, with operating margin rising to 16.5%. Large deal wins and strong cash flow offset softness in Europe, APMEA, and select sectors, while guidance for Q2 projects flat to modest growth and stable margins.
Fiscal Year 2024
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The AGM reviewed a challenging year with revenue decline but improved margins and strong cash flow. Strategic focus remains on AI, talent development, sustainability, and large deal growth, with robust governance and stakeholder engagement. Dividend and bonus requests were noted, and responsible AI and risk management are key priorities.