Wipro beats first quarter revenue view on demand from U.S clients
India's fourth-largest IT services player Wipro said it expects revenue in the second quarter of fiscal year 2026 to range between $2.56 billion and $2.61 billion, after sales in the June quarter topped analysts estimates, helped by growth in a part of its Americas business.
Wipro's consolidated revenue rose 0.8% to 221.35 billion rupees ($2.57 billion) and net profit rose 11% to 33.3 billion rupees for the quarter ending June 30.
Both revenue and profit beat analysts' mean estimate of 220.59 billion rupees and 32.55 billion rupees respectively, as per data from LSEG.
India's $283-billion IT sector had hoped a Trump presidency would revive client confidence, but lingering uncertainty over U.S. tariff policies has kept clients cautious and discretionary tech spending on hold.
Revenue from three of Wipro's five segments declined in the June quarter, and it saw growth in the health and communications segments.
Earlier this month, larger peers Tata Consultancy Services and HCLTech missed quarterly revenue estimates, citing continued softness in demand, but noted that the environment has stabilized and not worsened further.
In a statement, Wipro chief executive Srini Pallia said the quarter was "shaped by macroeconomic uncertainty", where clients prioritised efficiency and cost optimisation.
Deal wins for the quarter came in at $5 billion, up from $4 billion in the previous quarter and $3.3 billion a year earlier.
Wipro's Mumbai-listed shares closed down 0.8% ahead of the results and are down 13.7% so far this year.
($1 = 86.0390 Indian rupees)
