Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹22,504 Cr
verified against source
Revenue YoY
-1.2%
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 Q4 FY25 IT services revenue declined 1.2% YoY in constant currency to $2.6B, with operating margins expanding 110bps YoY to 17.5%. Full-year revenue fell 2.3% YoY to $10.51B, while margins improved 90bps to 17.1%. Large deal bookings remained strong at $4B in Q4, up 13.4% sequentially, and full-year large deal TCV grew 17.5% to $5.4B. However, management guided Q1 FY26 revenue down 1.5%-3.5% sequentially, citing heightened macroeconomic uncertainty from tariffs and client caution. Key risks include delayed decision-making on discretionary spend and potential margin pressure from cost-optimization deals. The company remains focused on its five strategic priorities: large accounts, large deals, AI-powered solutions, talent development, and client centricity.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects IT services revenue between $2.505B and $2.557B, reflecting a sequential decline of 1.5% to 3.5% in constant currency.
- CFO stated endeavor to maintain operating margins in a narrow band in coming quarters, despite revenue headwinds.
- CHRO indicated plans to continue campus hiring but will monitor environment to avoid over-hiring, as seen in past.
Risks flagged
- Management cited tariff-related uncertainty as a key factor driving client caution, leading to pauses in large transformation programs and delayed decisions on discretionary spend.
- CFO acknowledged that cost-optimization deals, which form a significant part of the pipeline, could put pressure on margins, requiring offsetting measures.
- Management noted that large deals have their own ramp-up timelines and may not contribute immediately to revenue, as seen with a recent European deal expected to ramp in later quarters.
- Number of clients in $1M-$100M buckets declined sequentially, attributed to weaker discretionary spend, which could signal reduced engagement breadth.
Key quotes
- The guidance does bake in everything that we know as of now. The macroeconomic environment is uncertain, and that is yielding into our guidance as well.
- I can tell you one example of a client where we're doing a large transformation program for them. They asked us to pause. It was not a cancellation, but it was paused because they wanted a certainty of what's going to go.
- We do not want a situation where we onboard people and we do not have challenges of deployment. We will keep a very close look.
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