Wipro closed the March 2026 quarter with higher revenue but weaker year-over-year profit growth. The company also announced a large share buyback. For the quarter ended March 31, 2026, gross revenue rose to ₹242.4 billion, up 2.9% sequentially and 7.7% year on year. Net income came in at ₹35.0 billion, which was up 12.3% quarter on quarter but down 1.9% from the same quarter last year. The company’s IT services operating margin was 17.3%, down 0.3 percentage points sequentially and 0.2 points year on year.
Wipro’s top line improved, but margins remained tight, and profitability did not fully keep pace with sales growth. In IT services, where pricing, deal mix, and delivery costs can change earnings quickly, even a small margin decline can offset gains from higher revenue.
Srini Pallia, CEO and Managing Director at Wipro said, “Advancements in AI are reshaping client priorities and creating new opportunities for us to partner more deeply to deliver value‑driven outcomes. To strengthen our position in an AI‑first world, we are pivoting to a services‑as‑a‑software model through the AI Native Business & Platforms unit. Our strategic deal with the Olam Group further reflects the decisive investments we are making to capture opportunities at scale.”
Wipro said IT services segment revenue reached $2,651.0 million, up 0.6% QoQ and 2.1% YoY. Total bookings were $3,455 million, while large deal bookings stood at $1,440 million, up 65.1% QoQ in constant currency terms.
For the full year ended March 31, 2026, gross revenue was ₹926.2 billion, up 4.0% YoY, while IT services segment revenue was $10,478.1 million, down 0.3% YoY. Full-year net income rose just 0.5% YoY, and IT services operating margin improved only 0.2 points to 17.2%.
The comparison with the same quarter last year is important; Wipro’s revenue growth shows demand has not disappeared, but the year-on-year profit decline shows that the company is still working through margin pressure. The result report also showed operating cash flows at ₹31.7 billion for the quarter, down 15.3% YoY, and voluntary attrition at 13.8% on a trailing 12-month basis. Those figures point to a business that is still managing cost discipline carefully while trying to protect delivery quality and hiring stability.
Wipro also gave investors a softer near-term outlook; for the June 2026 quarter, it expects IT services revenue in the range of $2,597 million to $2,651 million, which translates to -2.0% to 0% sequential growth in constant currency terms. According to Reuters, the weak forecast was the main reason the stock came under pressure after the results, even though the company also announced a record buyback.
The buyback is the other major point in the announcement; Wipro’s board approved a proposal to buy back up to 60,00,00,000 equity shares, equal to 5.7% of paid-up equity share capital, through a tender offer at ₹250 per share, for an aggregate amount not exceeding ₹150 billion.
The plan is subject to shareholder approval through a postal ballot; Wipro’s chief financial officer said the company returned a substantial portion of cash to shareholders through dividends during the year and added the buyback as another capital allocation step.
Aparna Iyer, Chief Financial Officer at Wipro said “We have continued to invest in our clients, capabilities and people and maintained our margins in narrow band. Our cash conversion continues to remain strong with operating cash flows at 112.6% of net income for FY’26. During the year we have returned substantial portion of our cash generated to shareholders in the form of dividend. Additionally, in our recently concluded board meeting, the Board of Directors announced buyback of ₹15,000 Cr at a price of ₹250, subject to shareholder approval.”
For shareholders, the buyback is a sign that Wipro is willing to return capital even while growth stays uneven. A buyback can support earnings per share by reducing the share count, but it does not solve the core operating issue if margins remain under pressure or if revenue growth slows. In this case, the investor story is mixed: bookings improved, full-year revenue grew, and margins stayed in a narrow band, but the June-quarter guide suggests the company still sees a cautious demand environment, especially in U.S. banking and financial services.
The broader read-through for investors is that Wipro is stable, but not yet delivering a clean growth reacceleration. Revenue improved, large deal bookings were stronger, and capital returns remain generous. Still, the combination of lower year-on-year profit, slight margin compression, and a soft outlook means the market is likely to focus more on execution and margin recovery than on headline revenue growth alone.
[Also Read: Wipro announces results for the Quarter and Year ended March 31, 2025 ]
