Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global technology services and consulting company, has announced its financial results for the first quarter. The company reported a mixed performance with strong deal bookings, despite a slight dip in revenue and profit.

Financial Highlights

Deal Momentum and Bookings

Wipro demonstrated strong deal momentum in Q1:

• Total bookings reached $4,971.00 million, up by 50.7% YoY in constant currency.
• Large deal bookings hit $2,666.00 million, showing a significant increase of 130.8% YoY in constant currency.

Strategic Initiatives and Client Wins

The company secured several strategic deals across various sectors:

• A leading global technology company chose Wipro as its exclusive strategic partner for transforming and scaling engineering and application support operations.
• A US-based global technology company awarded Wipro a contract to enable innovation at scale for its proprietary operating system.
• A major US-based hospitality company selected Wipro to enhance performance across their customer lifecycle.

Dividend Declaration

The Board of Directors declared an interim dividend of ₹5.00 ($0.06) per equity share/ADS.

Management Commentary

Srini Pallia, CEO and Managing Director, commented on the results: "In a quarter shaped by macroeconomic uncertainty, clients prioritized efficiency and cost optimization. We partnered closely with them to address these needs, resulting in 16 large deals, including two mega deals. Building on the momentum from last quarter and supported by a strong pipeline, we are well positioned for the second half. AI is no longer experimental - it's central to our clients' strategies, and we are delivering real impact at scale."

Aparna Iyer, Chief Financial Officer, added: "We expanded our operating margins by 80 basis points on YoY basis. Our cash flow conversion remained strong with operating cash flows being at 123% of our net income."

Market Response

Despite the decline in profit and margins, Wipro's performance met market expectations. The company's shares rose 4.34% following the Q1 results announcement. The strong deal wins prompted positive outlooks from brokers.

Outlook

For the next quarter, Wipro expects revenue from its IT Services business segment to be in the range of $2,560.00 million to $2,612.00 million. This translates to a sequential guidance of -1.0% to 1.0% in constant currency terms.

Wipro continues to focus on delivering value to its clients through digital transformation, AI integration, and strategic partnerships. The company's strong deal pipeline and focus on operational efficiency position it well for future growth in an evolving global technology landscape.

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting, and business process services company, has announced its financial results for the first quarter. The company reported a slight decline in revenue but demonstrated resilience in profitability and strategic initiatives.

Financial Highlights

• IT Services revenue stood at $2,587.40 million, representing a year-on-year decrease of 2.3% in constant currency terms.
• Net income for the quarter was ₹33.30 billion ($388.40 million), showing a robust increase of 10.9% year-on-year.
• Operating margin for IT Services was 17.3%, expanding by 0.8% compared to the same quarter last year.
• Earnings per share (EPS) grew by 10.8% year-on-year to ₹3.20 ($0.04).
• Total bookings for the quarter reached $4,971.00 million, up by 50.7% year-on-year in constant currency.
• Large deal bookings saw significant growth, reaching $2,666.00 million, an increase of 130.8% year-on-year in constant currency.

Strategic Focus on AI and Transformation

Wipro's CEO and Managing Director, Srinivas Pallia, emphasized the company's strategic pivot towards AI-powered solutions. "AI is no longer experimental - it's central to our clients' strategies, and we are delivering real impact at scale," Pallia stated. The company is integrating AI across its service offerings, including software development lifecycle, to accelerate development, improve code quality, and reduce defects.

Outlook and Dividend

For the upcoming quarter, Wipro expects IT Services business segment revenue to be in the range of $2,560.00 million to $2,612.00 million, translating to a sequential growth of -1.0% to 1.0% in constant currency terms.

The Board of Directors has declared an interim dividend of ₹5.00 ($0.06) per equity share/ADS.

Sector Performance

In terms of sector performance:

Strategic Initiatives

Wipro continues to invest in its future, strengthening the Wipro Innovation Network and advancing its AI and consulting capabilities. The company is building an AI-first workforce, with almost all employees completing foundational GenAI training and over 87,000 undergoing advanced, role-specific upskilling.

Sustainability and Corporate Responsibility

The company reported progress in its sustainability efforts, with 84% of electricity used in its facilities now coming from renewable sources. Wipro also advanced its work in education and healthcare, improving access and quality of education for 2.7 million children and enhancing primary healthcare for 700,000 women and 1.3 million children.

As Wipro approaches its 80th year, the company remains focused on driving consistent, profitable growth, scaling its consulting-led, AI-powered transformation engine, and investing in its people, leadership, and culture. Despite the challenging global business environment, Wipro continues to position itself as a trusted transformation partner for its clients in the rapidly evolving technology landscape.

Note: USD figures are based on the exchange rate of US$1 = ₹85.74 as of the end of the reported quarter.