Archive · 24 Jul 2025
Wipro Lands Saudi Smart Grid Deal, Q1 Earnings Beat Estimates
Wipro, a big tech company, got a new contract to help Saudi Electric Company with their smart meters.
This means Wipro will build a system to help manage the data from these meters, making things run smoother and more efficiently.
Wipro also did well in the last financial quarter, making more money than expected.
Even though some areas are a bit slow, Wipro's new contracts are helping boost their business.
They are now expecting their IT services to bring in even more money in the next few months.
Wipro secured a multi-year contract from Saudi Electric Company for a smart meter data management system.
The system aims to modernize the client's meter data platform and improve operational efficiencies.
Wipro's Q1FY26 consolidated net profit was ₹3,336 crore, exceeding analyst estimates.
Revenue from operations in Q1FY26 was ₹22,134 crore, also surpassing estimates.
The company expects revenue from its IT Services business to be between $2.56 billion and $2.612 billion in Q2FY26.
- Who
- Wipro, a technology company, and Saudi Electric Company.
- What
- Wipro secured a contract to implement a Smart Meter Data Management system for Saudi Electric Company.
- When
- Wipro announced the deal recently and reported Q1FY26 results.
- Where
- The contract is with Saudi Electric Company, based in Saudi Arabia.
- Why
- To modernize the client's meter data platform and improve operational efficiencies.
- Company
- Wipro
- Client
- Saudi Electric Company
- Contract Type
- Multi-year strategic contract
- Q1FY26 Net Profit
- ₹3,336 crore
- Q1FY26 Revenue
- ₹22,134 crore
- Q2FY26 IT Services Revenue Estimate
- $2.56 to $2.612 billion