Wipro Q4 Net Profit Rises Sequentially, But AI Revenue Not in Black-and-White

Wipro’s bottomline has soared substantially in the March quarter, despite modest growth and margins edging lower.

For the quarter ended March 31, the IT services company posted revenue of ₹24,236 crore ($2.62 billion), up 2.9% quarter-on-quarter and 7.7% year-on-year. Net profit stood at ₹3,502 crore ($378.6 million), rising 12.3% sequentially but declining 1.9% from a year earlier.

For the full year FY26, Wipro reported revenue of ₹92,624 crore ($10 billion), up 4% year-on-year, while net profit rose marginally to ₹13,200 crore ($1.41 billion). 

The company also announced a ₹15,000 crore ($1.61 billion) share buyback—its largest ever. 

The CEO informed that the company is not calling out AI revenue but continues to focus on its AI-first approach. “Advancements in AI are reshaping client priorities and creating new opportunities for us to partner more deeply to deliver value-driven outcomes,” CEO and MD Srini Pallia said during the press meet. “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.”

“Geopolitical and policy disruptions have become the new normal,” he noted, pointing to changing trade rules, tighter immigration policies, and ongoing conflicts as factors creating persistent uncertainty for industries and global economies.

Despite these headwinds, Pallia noted that enterprise technology spending has held up, particularly in areas underpinning long-term transformation. “Cloud, data, and AI continue to attract investments as they provide the infrastructure for future growth,” he said.

However, he highlighted a structural shift in how clients are committing to spending. “Client priorities are shifting, with spending decisions increasingly tied to outcomes,” Pallia said, adding that contracts are becoming “modular, milestone-driven and governed by value checkpoints.”

Deal momentum strengthened during the quarter, with large deal bookings at $1.44 billion, up 65.1% sequentially, while total bookings stood at $3.46 billion. 

For FY26, large deal bookings rose 45.4% to $7.8 billion, with total bookings at $16.4 billion.

“The Q4 performance is underwhelming. While the deal pipeline appears healthy on the surface, it lacks real conversion,” Anshul Jethi, Research Analyst (IT services) at LKP Securities, told NDTV Profit. “AI is improving visibility, but meaningful deal closures are missing.”

Meanwhile, Aparna Iyer, Chief Financial Officer at Wipro, added, “We have continued to invest in our clients, capabilities and people and maintained our margins in a narrow band. Our cash conversion continues to remain strong with operating cash flows at 112.6% of net income for FY26.”

Headcount stood at 2,42,156 employees at the end of the quarter, with voluntary attrition at 13.8%.

Wipro's shares traded 0.19% higher on April 16, closing the day at ₹210.15 apiece on the NSE.