WIT · Wipro Limited

Wipro reported mixed financial results for the fourth quarter and full fiscal year 2026, with revenue growth but margin pressure in the quarter. For Q4, gross revenue increased 2.9% sequentially and 7.7% year-over-year to ₹242.4 billion, while IT Services revenue grew 0.6% sequentially to $2,651.0 million. However, the IT Services operating margin contracted by 0.3 percentage points sequentially to 17.3%, though it expanded by 0.2 percentage points for the full year to 17.2%. Net income for the quarter was ₹35.0 billion, up 12.3% sequentially but down 1.9% year-over-year. The company's bookings performance was strong, with total bookings of $3,455 million in Q4, up 3.2% sequentially in constant currency, and large deal bookings surging 65.1% to $1,440 million. For the full year, large deal bookings increased 45.4% to $7.8 billion. Management highlighted advancements in AI reshaping client priorities and the company's pivot to a services-as-a-software model through its AI Native Business & Platforms unit. The CFO noted continued investment in clients and capabilities while maintaining margins in a narrow band, with strong cash conversion at 112.6% of net income for FY26. Looking ahead, Wipro provided cautious guidance for Q1 FY27, expecting IT Services revenue of $2,597-$2,651 million, representing sequential constant currency guidance of -2.0% to 0%. The company also announced significant capital allocation actions, including a ₹150 billion share buyback program and an interim dividend of ₹11 per share declared during FY26 that will be considered final for the financial year.