India · Delayed Price · Currency is INR Wipro Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY27 saw modest year-on-year revenue growth and margin compression due to salary hikes and AI investments. Americas remained soft, while Europe and APMEA grew, with strong deal wins and a healthy pipeline. Guidance for Q2 is cautious, with gradual margin recovery expected.
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Q1 IT services revenue grew 0.9% year-on-year but declined sequentially, with margins pressured by wage hikes and AI investments. Americas remained soft, while APMEA and Europe saw growth. Q2 guidance is cautious, with a focus on operational discipline and AI-driven transformation.
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 a focus on AI-led transformation and maintaining margins despite integration costs.
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Q2 FY26 saw $2.6B in IT services revenue, 0.3% sequential growth, and a 17.2% adjusted margin. Strong deal wins and robust pipelines support a positive outlook, though margin headwinds and sector-specific challenges persist. Guidance for Q3 is -0.5% to +1.5% sequential growth.
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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, technology, and healthcare. Margin pressure stemmed from a one-off charge, while guidance for Q3 projects flat to modest growth.
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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 and margins were stable, with robust bookings and a focus on AI-powered solutions. Capital returns remain strong, and guidance anticipates flat to modest sequential growth.
Fiscal Year 2025
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Large deal momentum remained strong with improved margins, but IT services revenue declined both sequentially and year-over-year amid macroeconomic uncertainty and cautious client spending. Guidance for Q1 FY26 indicates further revenue decline, with margin maintenance prioritized.
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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 revenue of $2.63B, a 12-quarter high operating margin of 17.5%, and strong large deal wins. Americas led growth, while Europe and APMEA remained soft. Guidance for Q4 is flat to +1% sequential growth, with margins expected to hold steady.
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Q2 FY25 saw revenue and margin growth, strong deal wins, and robust cash flow, with Americas and BFSI leading performance. Guidance for Q3 is cautious due to seasonal and client-specific headwinds, but margin stability is expected. Bonus share issue and AI talent investments highlight strategic focus.
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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 FY24 with decreased revenue but improved margins and strong cash flow. Strategic focus remains on AI, talent development, and sustainability, with robust governance and succession planning. Shareholders' questions on dividends, AI, and risk were addressed in detail.