IT major Wipro Ltd has reported a muted revenue performance in the first quarter of FY26, as consolidated revenue rose 0.8% on a year-on-year basis to ₹22,130 crore. Net profit for the quarter, however, came in at ₹3,330 crore, up 10.9% YoY, while operating margins for the IT services segment stood at 17.3%, 80 basis points higher than the same period last year.

The company’s flagship IT services segment brought in $2.59 billion in revenue, down 0.3% quarter-on-quarter and 1.5% YoY.

Wipro recorded a sharp uptick in bookings at $4.97 billion, a 50.7% jump from the same quarter last year. Large deal wins contributed $2.67 billion, up 50% sequentially and 130.8% YoY in constant currency terms.

Wipro's earnings per share for the quarter stood at ₹3.2, up 10.8% YoY. Operating cash flow stood at ₹4,110 crore, accounting for 123.2% of net income, a 2.9% annual increase. The company also declared an interim dividend of ₹5 per share.

Wipro's employee attrition, a key metric for IT firms, stood at 15.1% on a trailing 12-month basis. For Q2, Wipro has given the IT Services business revenue guidance to be in the range of (-)1.0% to 1.0% in constant currency.

Srini Pallia, Wipro CEO and MD, says in a quarter shaped by macro uncertainty, clients prioritised efficiency and cost optimisation. "We partnered with them to address these needs, resulting in 16 large deals, including two mega deals. Building on the momentum from last quarter and supported by a strong pipeline, we are well-positioned for the second half. AI is no longer experimental - it's central to our clients' strategies, and we are delivering real impact at scale."

Aparna Iyer, CFO, said Wipro's cash flow conversion remains strong, with operating cash flows at 123% of our net income. The Wipro board has also declared an interim dividend of ₹5 per share, taking the total cash returned to shareholders over the last 6 months to $1.3 billion.

Amid the results, Wipro shares closed 1.54% down at ₹258.75 on the NSE.