Archive · 18 Jul 2026
Wipro's Q1 Net Profit Flat Amid Subdued Demand
Wipro, a big IT company, just finished its first quarter with almost no growth in profit.
They made a little more money than last year, but not as much as experts thought they would.
The company's CEO said that clients are taking longer to make decisions, even though they're still investing in technology like AI and cloud services.
Wipro also said they expect things to stay slow in the next quarter.
They had fewer big deals this time, and some parts of their business, like healthcare in the Americas, are doing worse.
They also had to spend more on salaries and other things, which made their profits even smaller.
Wipro's Q1 net profit increased by less than 1% to ₹3,352 crore, missing analysts' estimates.
IT services revenue grew by only 1% year-on-year, with a sequential decline of 1.4%.
CEO Srini Palia attributed the slowdown to longer client decision cycles and focused technology investments.
Large deal bookings (over $30 million TCV) dropped by 38.5% to $1.6 billion.
Wipro provided tepid guidance for the next quarter, expecting de-growth of 1.5% to growth of 0.5%.
- Who
- Wipro, an IT services giant
- What
- Reported flat net profit in Q1
- When
- First quarter of the fiscal year (ended June 30)
- Where
- Global operations, with significant impact in the Americas
- Why
- Subdued demand, longer client decision cycles, and a drop in large deal bookings
- Net Profit
- ₹3,352 crore
- Revenue
- ₹24,480 crore
- IT Services Revenue Growth
- 1% year-on-year
- Large Deal Bookings
- $1.6 billion (down 38.5%)
- Attrition Rate
- 13.8%
- Headcount
- 243,044
- Guidance for Next Quarter
- De-growth of 1.5% to growth of 0.5%