Large Deal Bookings
$3.5B
+3.2% QoQ
Sequential growth in order bookings; 14 large deals worth $1.4B.
WIPRO
Other
15 Apr 2026
Wipro Ltd — Q4 FY26
Wipro's Q4 FY26 IT services revenue of $2.65B declined 2% YoY in constant currency, with operating margin contracting 30bps to 17.3%.
✓ Verified against BSE filing
2-Min Summary
Wipro's Q4 FY26 IT services revenue of $2.65B declined 2% YoY in constant currency, with operating margin contracting 30bps to 17.3%. Sequential growth of 2% was driven by Americas1, Europe, and APMEA, but Americas2 declined sharply due to client-specific issues and delayed ramp-ups in BFSI. Large deal bookings totaled $3.5B, including a $1B+ Olam deal. Management guided Q1 revenue between $2.597B-$2.651B, implying -2% to 0% sequential growth, absorbing wage hikes and deal ramp-up costs. Margins are expected to remain in a narrow band medium-term, but near-term volatility from investments in the new AI-native unit and large deal transitions poses risk. The key risk is sustained weakness in Americas2 BFSI if client issues persist beyond Q1.
Key Numbers
Top 5 Client Revenue Growth
2% YoY
+2% YoY
Year-on-year constant currency growth in top 5 clients, despite top client decline.
APMEA Revenue Growth
3.1% QoQ
+3.1% QoQ
Sequential growth driven by Southeast Asia, BFSI, and tech sectors.
Technology & Communication Revenue Growth
5.3% QoQ
+5.3% QoQ
Strong sequential growth; 10.4% YoY increase in constant currency.
Management Guidance
Q1 FY27 Revenue Guidance: -2% to 0% sequential CC
IT services revenue expected between $2.597B and $2.651B, reflecting seasonal weakness and client-specific issues.
revenueMedium-term margin band maintained
Management aims to keep operating margins in a narrow band despite wage hikes, deal ramp costs, and AI investments.
marginsBuyback of ₹15,000 crore at ₹250/share
Largest buyback in Wipro's history, expected to complete in Q1 FY27, subject to shareholder approval.
otherKey Risks
Sustained weakness in Americas2 BFSI
Client-specific issues and delayed ramp-ups may persist beyond Q1, impacting growth in a key market unit.
high · analyst_questionMargin pressure from large deal ramp-ups
New large deals won competitively may have lower initial margins, adding to near-term margin volatility.
medium · management_commentaryGeopolitical and tariff disruptions
Clients in manufacturing and auto sectors are cautious due to tariffs, potentially delaying IT spending decisions.
medium · management_commentaryNotable Quotes
We are making a deliberate strategic pivot to stay ahead. We have launched a dedicated AI native business and platforms unit to expand beyond a services-only model to a services as a software approach.
Our endeavor would be to maintain these margins in a narrow band in the medium term.
The reason for the delay is very client specific but we see that opportunity coming up sooner than later.