IT major Wipro reported a net profit of ₹3,502 crore for the March quarter (Q4FY26), marking a 12.3% sequential increase, though it declined 1.9% year-on-year (YoY). Ahead of the results, Wipro shares ended at ₹210.20, up 0.19%, with a market capitalisation of ₹2.20 lakh crore.

The Bengaluru -based company also announced a share buyback worth up to ₹15,000 crore at ₹250 per share via the tender route, representing 5.7% of its equity base, subject to shareholder approval. In addition, it declared a final dividend of ₹11 per share for FY26.

Wipro reported gross revenue of ₹24,240 crore in Q4FY26, registering a growth of 2.9% quarter-on-quarter (QoQ) and 7.7% YoY. Revenue from its core IT services segment stood at $2.65 billion, up 0.6% QoQ and 2.1% YoY. However, in constant currency terms, IT services revenue grew just 0.2% sequentially and declined 0.2% YoY, indicating subdued underlying demand.

Total bookings for the quarter came in at $3.46 billion, up 3.2% QoQ in constant currency, while large deal bookings surged 65.1% QoQ to $1.44 billion, reflecting strong traction in large contracts.

Operating margin for the IT services segment stood at 17.3%, down 0.3 percentage points QoQ and 0.2 percentage points YoY. Earnings per share (EPS) rose 12.1% sequentially to ₹3.34 but declined 2.1% YoY. Adjusted for labour code changes, net profit stood at ₹3,490 crore, up 3.7% QoQ, with EPS at ₹3.33.

Operating cash flow was ₹3,170 crore, equivalent to 90.1% of net profit, though it fell 15.3% YoY. Voluntary attrition remained stable at 13.8% on a trailing 12-month basis.

Full year profit flat at ₹13,200 crore

For the full year ended March 31, 2026, Wipro reported revenue of ₹92,620 crore, up 4% YoY. However, IT services revenue declined 0.3% YoY and fell 1.6% in constant currency terms. Despite this, deal momentum remained strong, with large deal bookings rising 45.4% YoY to $7.8 billion and total bookings increasing 14% YoY to $16.4 billion. Net profit for the year stood at ₹13,200 crore, up 0.5% YoY, while operating margin improved slightly to 17.2%.

Looking ahead, the company expects IT services revenue for the June quarter (Q1FY27) in the range of $2.60-2.65 billion, implying a sequential decline of up to 2% or flat growth in constant currency terms.

Srini Pallia said advancements in AI are reshaping client priorities, with the company pivoting toward a services-as-software model through its AI Native Business & Platforms unit. He also highlighted a strategic deal with Olam Group to scale opportunities.

“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,” Pallia said.

Aparna Iyer said the company continued to invest in clients, capabilities and people while maintaining margins within a narrow band, adding that cash conversion remained strong during the year. “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.”

Separately, the board approved the reappointment of Tulsi Naidu as an independent director for a second term of five years starting July 1, 2026, subject to shareholder approval.