Wipro posts a flat Q1 bottom-line at ₹3,352 cr; maintains a muted outlook for upcoming quarter
Wipro reported flat net profits of ₹3,352 crore for Q1 FY27 despite an 11% revenue increase. The company maintains a cautious outlook due to macroeconomic uncertainty and reduced discretionary spending by global clients.
Why it matters
As a major Indian IT services player, Wipro's performance and guidance serve as a bellwether for the broader global IT outsourcing industry.
Wipro, the country’s third lead tech player, on Thursday reported an almost flat net profit of ₹3,352 crore; even as revenues were on the rise in the June quarter.
The sub-1% growth in net earnings came amid 11% year-on-year (YoY) increase in revenues to ₹24,479 crore. It’s core IT services business generated revenue of $2.61 billion, a 1.4% sequential decline and a 1% growth YoY.
Wipro booked total deals worth $3.4 billion in the first quarter (Q1) of FY27, of which large contracts were valued at $1.6 billion, a sequential increase of 12.9% in constant currency terms.
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