Wipro Q1 FY27: Revenue Growth Stays Modest, Large Deal Bookings Soar 13% QoQ to $1.6 Bn

BY ADMIN • FILED 16 Jul 2026, 4:51 PM

Wipro Limited (NYSE: WIT, NSE: WIPRO, BSE: 507685) reported a steady performance for the quarter ended June 30, 2026 (Q1 FY27), with double-digit growth in overall revenue, resilient profitability, and a sharp increase in large deal bookings despite continued softness in the global IT spending environment.

The company also declared an interim dividend of ₹2 per equity share, while maintaining strong cash generation during the quarter.

Q1 FY27 Financial Highlights

Revenue

Gross Revenue: ₹244.8 billion (US$2,585.9 million)
Year-on-Year Growth: 10.6%

The IT Services segment recorded:

0.9% year-on-year growth in constant currency (CC)
1.2% sequential decline in constant currency

The performance reflects continued macroeconomic uncertainty, with clients remaining cautious on discretionary technology spending.

Large Deal Wins Gain Momentum

A key highlight of the quarter was the strong growth in large deal bookings.

Large Deal Bookings: US$1.6 billion
Quarter-on-Quarter Growth: 12.9% (CC)
Large Deals Won: 13

Total bookings stood at:

US$3.37 billion
Sequential Change: Down 2.4% (CC)

The increase in large deal wins provides improved revenue visibility for future quarters and reflects sustained client confidence in Wipro’s capabilities.

Profitability

Net Income: ₹33.6 billion (US$354.6 million)
YoY Growth: 0.6%
QoQ Change: Down 4.7%

The company’s IT Services operating margin was:

16.0%
Down 1.3 percentage points sequentially
Down 1.2 percentage points year-on-year

Management indicated that ongoing investments in strategic growth areas, including artificial intelligence, contributed to the margin movement.

Strong Cash Generation

Wipro continued to generate healthy cash flows during the quarter.

Operating Cash Flow: ₹32.9 billion (US$348 million)
Cash Conversion: 98% of net income

The strong cash generation reflects disciplined execution and effective working capital management.

Interim Dividend Declared

The Board of Directors approved an interim dividend of ₹2 per equity share, reaffirming Wipro’s commitment to delivering value to shareholders.

Employee Attrition Continues to Decline

The company’s voluntary attrition rate continued its downward trend.

Trailing 12-month voluntary attrition: 13.9%

The lower attrition rate indicates improving workforce stability in an industry that has witnessed elevated employee turnover over the past few years.

Management Commentary

Chief Executive Officer and Managing Director Srini Pallia said Wipro’s consulting-led and AI-powered approach continues to help clients accelerate digital transformation and embed artificial intelligence into their businesses.

Chief Financial Officer Aparna Iyer noted that while strategic investments may create near-term pressure on margins, the company remains focused on long-term growth, operational discipline, and strong cash flow generation.

Q2 FY27 Guidance

For the quarter ending September 30, 2026, Wipro expects its IT Services business revenue to be between:

US$2.574 billion and US$2.627 billion

This translates into constant currency sequential growth guidance of -1.5% to +0.5%, reflecting continued caution in the global technology spending environment.