Key Financial Figures

Revenue Performance

  • Gross revenue: ₹244.8 billion ($2,585.9 million), increased 1.0% QoQ and 10.6% YoY
  • IT services segment revenue: $2,614.5 million, decreased -1.4% QoQ and increased 1.0% YoY
  • Non-GAAP constant currency IT Services segment revenue: decreased 1.2% QoQ and increased 0.9% YoY
  • IT Products segment revenue: ₹1.0 billion ($10.9 million)

Profitability Metrics

  • IT services operating margin: 16.0%, decreased 1.3% QoQ and 1.2% YoY
  • Net income: ₹33.6 billion ($354.6 million), decreased 4.7% QoQ and increased 0.6% YoY
  • Earnings per share: ₹3.20 ($0.03), decreased 4.2% QoQ and increased 0.6% YoY

Cash Flow and Returns

  • Operating cash flows: ₹32.9 billion ($348 million), increased 3.6% QoQ and at 98.0% of net income
  • Free cash flow: ₹29.6 billion, representing 88.2% of net income
  • Interim dividend declared: ₹2 ($0.02) per equity share/ADS

Operational Metrics

  • Voluntary attrition: 13.9% on trailing 12-month basis
  • Total headcount: 243,044 employees
  • Net utilization (excluding trainees): 83.6%
  • Offshore revenue percentage: 59.7%

Dates of Action

  • Quarter ended: June 30, 2026
  • Results announced: July 16, 2026
  • Dividend declaration date: July 16, 2026 (effective date not specified)
  • Earnings conference call: July 16, 2026 at 07:00 PM IST

Outlook for Q2 FY27

  • Expected IT Services revenue range: $2,574 million to $2,627 million
  • Sequential guidance: (-)1.5% to (+)0.5% in constant currency terms
  • Exchange rates assumed for outlook: GBP/USD at 1.34, Euro/USD at 1.16, AUD/USD at 0.71, USD/INR at 94.50, CAD/USD at 0.71

Management Commentary

CEO Statement (Srini Pallia)

Clients are moving beyond technology modernization to AI-enabled operating models that improve quality, resilience, and productivity. Wipro's consulting-led, AI-powered approach helps clients embed AI at the core of their business.

CFO Statement (Aparna Iyer)

Company remains focused on investing in people and strategic priority areas, which may create near-term margin volatility but sets foundation for future growth. Cash flow remained robust at 98% of net income. Including this dividend, company would have returned more than $3Bn in cash to shareholders over past year.

Strategic Deal Wins

Wipro won 13 large strategic deals in Q1 FY27 with total large deal bookings of $1,626 million (increase of 12.9% QoQ). Key deals include:

1. Global chemicals company: Multi-year deal to modernize IT operations using Wipro Intelligence™ for AI-enabled capabilities

2. Global technology company: Renewed engagement for Geospatial Data Operations and mapping

3. Global technology provider: Expanded engagement for AI-infused quality engineering services

4. US-based health insurer: Extended digital workplace and end-user support services

5. US-based hospital network: Application management and enterprise IT transformation using WINGS and WEGA platforms

6. US-based specialty chemicals company: AI-first transformation of business and technology landscape

7. Australian health services provider: Modernization of technology landscape

8. Australian/New Zealand insurer: Transformation of core insurance application landscape

9. Global apparel company: Supply chain and planning tech for Warehouse Management System operations

10. Global energy company: Capco engagement for engineering and operational capabilities

11. US housing finance institution: Capco engagement for data modernization program

12. Global technology enterprise: AI-first modern delivery model for software development lifecycle

Segment Performance

IT Services Segment (by Strategic Market Units)

  • Americas 1: Revenue ₹86,087 million (35.2% of IT Services)
  • Americas 2: Revenue ₹62,119 million (25.4% of IT Services)
  • Europe: Revenue ₹66,569 million (27.2% of IT Services)
  • APMEA: Revenue ₹29,754 million (12.2% of IT Services)

Sector Mix

  • Banking, Financial Services and Insurance: 34.1%
  • Consumer: 18.8%
  • Technology and Communications: 17.0%
  • Energy, Manufacturing and Resources: 16.1%
  • Health: 14.0%

Geographic Revenue Mix

  • USD: 59%
  • GBP: 12%
  • EUR: 8%
  • INR: 6%
  • AUD: 4%
  • CAD: 2%
  • Others: 9%

Customer Metrics

  • Top customer concentration: 4.4%
  • Top 5 customers: 14.3%
  • Top 10 customers: 23.6%
  • Number of new customers: 49
  • Total active customers: 1,233
  • Revenue from existing customers: 98.9%

Analyst Recognition

Wipro was recognized as a Leader in 12 different industry analyst reports including:

  • ISG Provider Lens® - Semiconductor Industry Services (US, Europe)
  • Avasant's Airlines and Airports Digital Services
  • Everest Group's Healthcare Payer Digital Services
  • ISG Provider Lens® - Digital Engineering Services (US, Europe)
  • And 8 other leadership positions across various sectors

Currency Conversion Notes

  • Convenience translation rate: US$1 = ₹94.66 (Federal Reserve Board rate on June 30, 2026)
  • Realized exchange rate in IT Services: US$1 = ₹93.53
  • Constant currency calculation: Product of volumes in current period times average actual exchange rate of comparative period

Additional Financial Information

  • Total bookings: $3,370 million (down 2.4% QoQ in constant currency)
  • Share capital: ₹20,977 million
  • Retained earnings: ₹735,057 million
  • Total equity: ₹887,877 million
  • Total assets: ₹1,419,262 million