Large deal booking at $2.7Bn, grows 131% YoY, overall deal bookings at $5.0Bn
Net income grows 10.9% YoY; Revenue decreases 2.3% YoY in CC terms
Q1'26 operating margin at 17.3%, expands 0.8% YoY; EPS grows 10.8% YoY
Operating cash flows at 123.2% of net income
EAST BRUNSWICK, N.J. & BANGALORE, India--(BUSINESS WIRE)--July 17, 2025--
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended June 30, 2025.
Highlights of the Results
Results for the Quarter ended June 30, 2025:
1.
Gross revenue at Rs 221.3 billion ($2,581.6 million1), decrease of 1.6%
QoQ and increase of 0.8% YoY.
2.
IT services segment revenue was at $2,587.4 million, decrease of 0.3%
QoQ and 1.5% YoY.
3.
Non-GAAP2 constant currency IT Services segment revenue decreased 2.0%
QoQ and 2.3% YoY.
4.
Total bookings3 was at $4,971 million, up by 24.1% QoQ and 50.7% YoY in
constant currency2. Large deal bookings4 was at $2,666 million, an
increase of 49.7% QoQ and 130.8% YoY in constant currency2.
5.
IT services operating margin5 for Q1'26 was at 17.3%, contraction of
0.2% QoQ and expansion of 0.8% YoY.
6.
Net income for the quarter was at Rs 33.3 billion ($388.4 million1),
decrease of 6.7% QoQ and increase of 10.9% YoY.
7.
Earnings per share for the quarter at Rs 3.2 ($0.041), decrease of 6.7%
QoQ and increase of 10.8% YoY.
8.
Operating cash flows of Rs 41.1 billion ($479.6 million1), increase of
9.8% QoQ and 2.9% YoY and at 123.2% of Net Income for the quarter.
9.
Declared interim dividend of Rs 5 ($0.061) per equity share/ADS.
10.
Voluntary attrition was at 15.1% on a trailing 12-month basis.
Outlook for the Quarter ending September 30, 2025
We expect revenue from our IT Services business segment to be in the range of $2,560 million to $2,612 million*. This translates to sequential guidance of (-)1.0% to 1.0% in constant currency terms.
*Outlook for the Quarter ending Sept 30, 2025, is based on the following exchange rates: GBP/USD at 1.34, Euro/USD at 1.13, AUD/USD at 0.64, USD/INR at 85.88 and CAD/USD at 0.72
Performance for the Quarter ended June 30, 2025
Srini Pallia, CEO and Managing Director, said, "In a quarter shaped by macroeconomic uncertainty, clients prioritised efficiency and cost optimization. We partnered closely with them to address these needs, resulting in 16 large deals, including two mega deals. Building on the momentum from last quarter and supported by a strong pipeline, we are well positioned for the second half. AI is no longer experimental - it's central to our clients' strategies, and we are delivering real impact at scale."
Aparna Iyer, Chief Financial Officer, said, "We expanded our operating margins by 80 basis points on YoY basis. Our cash flow conversion remained strong with operating cash flows being at 123% of our net income. The board also declared an interim dividend of INR 5 per share. With this, the total cash returned to shareholders over the last 6 months is more than $1.3 Bn."
1.
For the convenience of the readers, the amounts in Indian Rupees in
this release have been translated into United States Dollars at the
certified foreign exchange rate of US$1 = Rs 85.74, as published by the
Federal Reserve Board of Governors on June 30, 2025. However, the
realized exchange rate in our IT Services business segment for the
quarter ended June 30, 2025, was US$1= Rs 85.34
2.
Constant currency for a period is the product of volumes in that period
times the average actual exchange rate of the corresponding comparative
period.
3.
Total Bookings refers to the total contract value of all orders that
were booked during the period including new orders, renewals, and
increases to existing contracts. Bookings do not reflect subsequent
terminations or reductions related to bookings originally recorded in
prior fiscal periods. Bookings are recorded using then-existing foreign
currency exchange rates and are not subsequently adjusted for foreign
currency exchange rate fluctuations. The revenues from these contracts
accrue over the tenure of the contract. For constant currency growth
rates, refer note 2.
4.
Large deal bookings consist of deals greater than or equal to $30
million in total contract value.
5.
IT Services Operating Margin refers to Segment Results Total as
reflected in IFRS financials.
Highlights of Strategic Deal Wins
In Q1'26, Wipro continued to win large and strategic deals across industries. Key highlights include:
1.
A leading global technology company has chosen Wipro as its exclusive
strategic partner to transform and scale its engineering and application
support operations. This milestone engagement is a direct reflection of
the client's vision to simplify operations, accelerate innovation, and
build a future-ready engineering ecosystem. By consolidating a fragmented
vendor base and establishing a high-impact Centre of Excellence in India,
Wipro is enabling the client to double engineering capacity, enhance
application reliability, and reduce support overhead--while significantly
improving business partner experience. Our co-development of Agentic AI
solution with the client in the enterprise application space marks a
pivotal moment in our journey to embed intelligent, autonomous
capabilities into complex enterprise systems while laying the foundation
for enterprise-grade AI adoption. This win is testament to Wipro's deep
technical expertise, innovation-led delivery, and strategic investments
that position us as a true engineering partner.
2.
A US-based global technology company has awarded Wipro a strategic
contract to enable innovation at scale for its proprietary operating
system. Wipro will accelerate the release of new OS versions by
streamlining test engineering, ensuring its compatibility across
applications and devices. By integrating AI-powered tools into the
application development workflow, Wipro will automate test creation,
speed up adaptation of apps to new OS environments, and intelligently
assess their quality and reliability. These enhancements will reduce
development cycle time and total cost of ownership, while improving
customer experience and product stability. This engagement strengthens a
partnership spanning more than two decades, built on deep domain
expertise and consistent delivery excellence.
3.
A US-based specialty fashion retailer has chosen Wipro to modernize its
business and IT operations, and transform its consumer interface across
contact centers, e-commerce, and marketing functions. As the Enterprise
partner on AI, Wipro will create a dedicated AI innovation hub for the
client, which will encompass process, applications, and Infrastructure.
Leveraging AI agents, Wipro will help the client deliver personalized
experiences and product recommendations. Further, Wipro will create an
AI-powered solution to accelerate the software development cycle,
delivering a seamless, transparent, and more unified service experience
for customers and employees across digital channels. Ultimately, this
strategic transformation will lay the foundation for a more agile,
AI-infused enterprise, helping the client scale, innovate, and prepare
for future growth.
4.
A leading US-based hospitality company has selected Wipro to enhance
performance across their customer life cycle including growth and
reservations, customer service, and payments. Following successful pilots,
Wipro was selected to help the client optimize its operations and scale
strategic capabilities, which is part of their business transformation
roadmap. This engagement will enable the client to improve conversion,
increase booking velocity, and ensure best in class customer
satisfaction.
5.
A leading apparel company has selected Wipro to transform its IT
infrastructure and Cybersecurity operations with an AI-first approach. As
part of this first-of-its-kind engagement for the client, Wipro will
deploy its proprietary AI platform to streamline operations, improve
regulatory compliance, and enhance the overall experience for the
clients' end-consumers, suppliers, and employees, while delivering
significant cost reductions in IT operations. Wipro will also strengthen
the security posture by enabling AI-powered predictive and preventive
operations and automation of security workflows to improve incident
resolution times. Through a unified, AI-led managed services model, Wipro
will help the client improve regulatory compliance and minimize business
disruption through greater operational stability.
6.
A leading US-based healthcare payer has selected Wipro to manage its
expanding operational demands and transform its member experience. Wipro
will re-imagine the client's prior authorization workflows and clinical
case determinations to improve service delivery and member experience.
Wipro will drive measurable impact through reduced turnaround times,
enhanced service levels, and stronger Net Promoter Scores for the
client.
7.
Wipro has been selected by a US-based digital health technology firm to
transform its global customer care and sales operations. Leveraging AI
and automation through a cloud-based platform, Wipro will enable the
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