IT major Wipro announced a decrease in its net profit for the initial quarter of FY27, with a consolidated PAT drop of over 4% sequentially despite a slight revenue increase. The company’s consolidated net profit fell by 4.7% quarter-on-quarter to Rs 3,352 crore in the April-June period, although PAT remained steady from a year ago.
On the financial front, gross revenue saw a 1% sequential growth and a 10.6% year-on-year increase to Rs 24,480 crore. The IT services’ operating margin stood at 16% during the quarter, declining by 1.3 percentage points sequentially and 1.2 percentage points year-on-year.
Operating cash flow increased by 3.6% sequentially to Rs 3,290 crore, representing 98% of the company’s net income for the quarter. Wipro’s voluntary attrition rate was recorded at 13.9% on a trailing 12-month basis.
Wipro anticipates revenue from its IT services business to range from a 1.5% decline to a growth of 0.5%. According to Srini Pallia, CEO and Managing Director, the company is witnessing a shift towards AI-enabled operating models that enhance quality, resilience, and productivity. Wipro’s consulting-led, AI-powered strategy aids clients in integrating AI into their core business, showcasing the company’s broad capabilities and client trust.
In addition to financial results, the board declared an interim dividend of Rs 2 per equity share. Wipro’s shares closed at Rs 177.80 on Thursday, marking a 1.83% increase on the BSE. Over the last six months, the IT stock has dropped by 33.56%, and over the past year, it has decreased by 32.38%. Furthermore, it has seen a decline of 38.49% over the last five years.
