Wipro Posts Muted June Quarter; AI-Led Transformation Deals Lift Large Bookings

Wipro reported a muted June-quarter performance, with constant currency revenue rising less than 1% year-on-year and margins contracting, even as the IT services major said artificial intelligence is becoming central to client transformation programmes, helping drive a strong recovery in large deal bookings.

The Bengaluru-headquartered company reported IT services revenue of $2.61 billion for the quarter ended June 30, up 0.9% year-on-year in constant currency but down 1.2% sequentially. 

Net profit rose 0.6% year-on-year to ₹3,356 crore, while IT services operating margin narrowed 120 basis points year-on-year to 16.0%.

Large deal bookings stood at $1.62 billion, rising 12.9% sequentially in constant currency, although overall bookings fell 2.4% quarter-on-quarter to $3.37 billion. 

The company secured 13 large deals during the quarter.

The company guided for September-quarter IT services revenue in the range of $2.57 billion to $2.63 billion, implying sequential constant currency growth of -1.5% to +0.5%, signalling continued demand uncertainty.

Wipro’s management, however, struck an optimistic note on enterprise AI spending, saying customers are now deploying AI across core business operations rather than limiting it to technology modernisation.

“Clients are moving beyond technology modernisation to AI-enabled operating models that improve quality, resilience, and productivity. Wipro’s consulting-led, AI-powered approach helps clients embed AI at the core of their business, and these engagements reflect both the breadth of our capabilities and the trust clients place in us as a transformation partner,” Srini Pallia, CEO and Managing Director, said in a statement.

The quarter’s largest deal wins reflected that shift. Several engagements are centred on AI-led IT transformation, with Wipro deploying digital agents, AIOps, generative AI and agentic AI capabilities across infrastructure management, software engineering, workplace services and enterprise operations.

Among the key wins, Wipro signed an AI-first transformation programme with a global speciality chemicals company, an AI-native software development modernisation deal with a global technology enterprise, and an engagement with a US hospital network to build an AI and agentic AI roadmap using its WINGS and WEGA platforms. Other large contracts also featured AI-powered automation, intelligent operations and productivity improvements.

Chief Financial Officer Aparna Iyer said the company will continue investing in strategic growth areas despite near-term pressure on profitability.

“As we navigate an evolving technology landscape, we remain focused on investing in our people and strategic priority areas. While these investments may create some near-term margin volatility, they set a strong foundation for future growth,” Iyer said.

Wipro’s voluntary attrition stood at 13.9% on a trailing 12-month basis, while total headcount increased to 2,43,044 employees during the quarter from 2,42,156 in the last quarter.