Wipro Limited reported a 0.6% year-over-year increase in consolidated net profit. Net profit reached ₹33.6 billion for its first quarter ending June 30, 2026. Quarterly revenue grew 10.6% to ₹244.8 billion. The core IT services segment revenue saw a modest 0.9% year-over-year rise in constant currency, reaching $2.61 billion.
The company's IT services operating margin contracted to 16.0%. This marks a 120 basis point decline from the previous year, hitting a 15-quarter low. Wipro attributed the margin pressure to wage hikes, investments in artificial intelligence, and costs from ramping up large deals. Large deal bookings grew 12.9% sequentially, reaching $1.6 billion.
Wipro issued a cautious outlook for the upcoming quarter. It forecasts IT services revenue between $2.574 billion and $2.627 billion. This translates to a sequential guidance of -1.5% to +0.5% in constant currency. The outlook reflects ongoing macroeconomic uncertainty and cautious client spending. The company's board declared an interim dividend of ₹2 per share.