Wipro’s latest fundamentals are mixed details

Wipro’s latest fundamentals are mixed but gradually improving on the deal-winning side. In Q1 FY27, gross revenue stood at ₹24,480 crore, up 10.6% YoY, while IT-services revenue grew only 0.9% YoY in constant currency and declined 1.2% QoQ, showing that underlying organic growth is still relatively weak. Net income was around ₹3,360 crore, up just 0.6% YoY, while IT-services operating margin fell sharply to 16.0% from 17.3% in the previous quarter, mainly due to salary hikes, investments and the weak revenue environment. The major positive is Wipro’s large-deal momentum: large-deal bookings reached $1.626 billion, up 12.9% QoQ, including 13 large deals, while total bookings were $3.37 billion; stronger conversion of these contracts into revenue could support future growth. AI is another important growth trigger, as Wipro is increasingly embedding GenAI, agentic AI and automation through Wipro Intelligence, WEGA and WINGS across large client engagements. A fresh positive development this week is Wipro’s renewed partnership with ABB, under which it will provide AI-enabled digital workplace services, including GenAI virtual agents, predictive services and automation.