Wipro (WIPRO) Q4 25/26 earnings summary

Executive summary

• IT Services revenue for Q4 FY26 was $2.65 billion, up 0.6% sequentially and 2.1% year-on-year, with operating margin at 17.3%.

• Net income for Q4 was INR 35 billion ($373.2 million), up 12.3% sequentially but down 1.9% year-on-year; EPS at INR 3.3–3.34.

• Order bookings in Q4 reached $3.5 billion, up 3.2% sequentially; large deal bookings surged 65.1% sequentially to $1.44 billion.

• Strategic investments continue in AI, cloud, and data, with a new AI-native business and platforms unit launched.

• Audited results for FY26 reflect the merger of five subsidiaries and unmodified auditor opinions.

Financial highlights

• Full-year IT Services revenue was $10.5 billion, a 1.6% year-on-year decline in constant currency.

• Consolidated revenue for FY26 was ₹926,240 million, with net profit nearly flat at ₹132,655 million.

• Operating cash flow was 112.6% of net income for FY26; gross cash including investments stood at $5.9 billion.

• Free cash flow for FY26 was ₹134,471 million, 101.4% of net income.

• Basic EPS for FY26 was INR 12.6 (consolidated).

Outlook and guidance

• Q1 FY27 IT Services revenue guidance is $2.597–$2.651 billion, implying sequential growth of -2% to 0% in constant currency.

• Board approved a buyback of up to 600 million shares (5.7% of equity) at INR 250 per share, totaling INR 15,000 crore, subject to shareholder approval.

• Management expects margin volatility in Q1 due to wage hikes and large deal ramp-ups but aims to maintain margins in a narrow band medium term.