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Revenue
₹22,135 Cr
verified against source
Revenue YoY
-2.3%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Wipro's Q1 FY26 IT services revenue declined 2.3% YoY in constant currency to $2.59B, within guidance. EBITDA margin expanded 80bps YoY to 17.3% driven by operational excellence. Net income grew 10.9% YoY despite a INR 247cr restructuring charge. Total bookings surged 51% YoY to $5B, with large deal bookings up 131% YoY to $2.7B, including two mega deals in BFSI. Management cited persistent macro uncertainty, especially in Europe and consumer sectors, but sees H2 improvement driven by strong order book and AI-led deal pipeline. Key risks include delayed revenue conversion from large deals and margin pressure from upfront investments. Guidance for Q2 is -1% to +1% sequential CC.
Colored figures show movement against the previous available record.
Guidance to track
- IT services revenue expected between $2.56B and $2.612B, reflecting cautious near-term outlook.
- Management expects stronger revenue growth in second half due to large deal ramp-ups and strong pipeline.
- Interim dividend of INR 5/share declared; endeavor to pay dividends twice a year (June and Q3 results).
Risks flagged
- Large deals take 6-8 quarters to fully ramp; Q1 revenue growth was at an 8-quarter low despite record bookings.
- Vendor consolidation deals require upfront investments and competitive pricing, potentially squeezing margins.
- Europe revenue declined 11.6% YoY; consumer sector declined 5% YoY due to tariff impacts and cautious spending.
- Attrition has been in a narrow band but pockets of higher attrition for AI talent; premium salaries may impact costs.
Key quotes
- AI is no longer a niche. It's becoming essential to how businesses operate at scale.
- We are guiding for a sequential growth of -1.0% to +1.0% in constant currency terms.
- Our net income grew 10.9% year-on-year in Q1. This is after absorbing a one-time restructuring charge of INR 247 crores.
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