Wipro Limited, a major Indian IT services firm, reported nearly unchanged consolidated net profit for the first quarter of fiscal 2026-27. Higher total expenses offset the double-digit revenue increase.
The company posted a consolidated net profit of ₹3,356.3 crore for the quarter ended June 30, 2026. This represents a marginal 0.6 percent year-on-year rise from ₹3,336.5 crore in the same period last year. On a sequential basis, net profit declined 1.5 percent from ₹3,408 crore in the prior quarter, indicating continued pressure on operating margins in the Indian IT sector.
Consolidated revenue from operations increased 10.6 percent year-over-year to ₹24,478.6 crore, up from ₹22,134.6 crore in the corresponding quarter a year earlier.
Total expenses rose 11.2 percent to ₹20,720 crore from ₹18,630 crore previously. This faster growth in costs reduced the operating margin by 40 basis points year-on-year to 16.1 percent, limiting the conversion of revenue gains into profit growth.
The subdued earnings matched Wipro’s earlier guidance, which had flagged a subdued quarter due to cautious discretionary spending by global clients. Large enterprises in banking, financial services, and insurance sectors in the United States and Europe maintained tight control over technology budgets.
The flat profit outcome reflects a broader pattern across India’s leading IT outsourcing companies this earnings season. While new deal wins and order books remain steady, project execution timelines have encountered short-term delays, keeping near-term margins constrained.
