Bengaluru, Shares of Wipro declined on Friday after the information technology services company reported lower-than-expected first-quarter revenue and issued a subdued growth forecast for the quarter ending September 2026.
The stock fell around 2% to ₹174.17 during morning trading, making it the biggest decliner on both the Nifty IT index and the benchmark Nifty 50 at the time of the Reuters report.
Wipro reported gross revenue of ₹24,480 crore for Q1 FY27, an increase of 10.6% year-on-year and 1% sequentially. However, the figure was below analysts’ average estimate of ₹24,776 crore, according to LSEG data cited by Reuters.
Revenue from Wipro’s IT services segment stood at $2.61 billion, declining 1.4% sequentially while increasing 1% from the corresponding quarter of the previous financial year. In constant-currency terms, IT services revenue declined 1.2% quarter-on-quarter and grew 0.9% year-on-year.
Net income increased 0.6% year-on-year to ₹3,360 crore but fell 4.7% sequentially. The IT services operating margin declined to 16%, compared with 17.3% in the preceding quarter and approximately 17.2% in Q1 FY26. Wipro attributed the margin pressure partly to salary increases and the ramp-up of large contracts.
The company recorded total bookings of $3.37 billion, down from $5 billion a year earlier. Large-deal bookings, covering contracts valued at $30 million or more, reached $1.63 billion and increased 12.9% sequentially in constant currency.
For the September quarter, Wipro expects IT services revenue of between $2.57 billion and $2.63 billion. This translates into constant-currency growth ranging from a sequential decline of 1.5% to an increase of 0.5%. Analysts had expected guidance ranging from a 1% decline to 1% growth, Reuters reported.
Wipro Chief Financial Officer Aparna Iyer said investments in employees and strategic priority areas could create near-term volatility in operating margins. The company also declared an interim dividend of ₹2 per equity share
