IT Consulting & Software company Wipro announced Q1FY27 results Financial Highlights: Gross revenue for Q1FY27 was at Rs 244.8 billion (USD 2,585.9 million), representing an increase of 1.0% QoQ and 10.6% YoY. Net income for the quarter stood at Rs 33.6 billion (USD 354.6 million), which is a decrease of 4.7% QoQ and an increase of 0.6% YoY. IT services segment revenue reached USD 2,614.5 million, marking a decrease of 1.4% QoQ and an increase of 1.0% YoY. Non-GAAP constant currency IT Services segment revenue experienced a decrease of 1.2% QoQ and an increase of 0.9% YoY. IT services operating margin for Q1FY27 was 16.0%, representing a decrease of 1.3% QoQ and an increase of 1.2% YoY. Total bookings for the quarter were USD 3,370 million, down by 2.4% QoQ in constant currency. Large deal bookings were recorded at USD 1,626 million, reflecting an increase of 12.9% QoQ in constant currency. Earnings per share (EPS) for Q1FY27 was Rs 3.20 (USD 0.03), showing a decrease of 4.2% QoQ and an increase of 0.6% YoY. Operating cash flows stood at Rs 32.9 billion (USD 348 million), an increase of 3.6% QoQ, and was at 98.0% of the net income for the quarter. The company declared an interim dividend of Rs 2 (USD 0.02) per equity share/ADS. Business Highlights: Segment Performance (IT Services Strategic Market Units - SMUs): Americas 1: Revenue stood at Rs 86,087 million, contributing 35.2% of the revenue mix, with a QoQ reported growth of -2.4% and YoY reported growth of -0.7%. Americas 2: Revenue stood at Rs 62,119 million, contributing 25.4% of the revenue mix, with a QoQ reported growth of -2.6% and YoY reported growth of -7.3%. Europe: Revenue stood at Rs 66,569 million, contributing 27.2% of the revenue mix, with a QoQ reported growth of -1.3% and YoY reported growth of 6.8%. APMEA: Revenue stood at Rs 29,754 million, contributing 12.2% of the revenue mix, with a QoQ reported growth of 4.4% and YoY reported growth of 14.3%. Sector-wise Revenue Mix: Banking, Financial Services and Insurance: 34.1% Consumer: 18.8% Technology and Communications: 17.0% Energy, Manufacturing and Resources: 16.1% Health: 14.0% IT Products Segment: IT Products segment revenue for the quarter was Rs 1.0 billion (USD 10.9 million). IT Products segment results for the quarter were Rs 0.02 billion (USD 0.2 million). Strategic Deal Wins: A global chemicals company selected Wipro for a multi-year deal to modernize IT operations, embedding digital agents, AIOps, and GenAI-enabled capabilities. Renewed a multi-year engagement with one of the world’s largest global technology companies for Geospatial Data Operations and mapping support via an AI-powered global delivery model. A leading US-based health insurer extended its engagement to enhance digital workplace and end-user support services through a unified operating model. Capco, a Wipro company, was engaged by a global energy company to support core engineering and operational functions for offshore operations. A US housing finance institution engaged Capco for a large-scale data modernization program to simplify access to business data. Operational Metrics: Voluntary attrition was 13.9% on a trailing 12-month basis. The total closing employee count for Q1FY27 was 2,43,044. Net utilization (excluding trainees) was 83.6%. Offshore revenue as a percentage of services revenue stood at 59.7%. Srini Pallia, CEO and Managing Director, said: “Clients are moving beyond technology modernization 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.” Aparna Iyer, Chief Financial Officer, said: “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, it sets a strong foundation for future growth. Cash flow remained robust, with operating cash flow at 98% of net income for the quarter. We are also pleased to share that the Board has declared an interim dividend of Rs 2 per share. Including this dividend and payouts made over the past year, we would have returned more than USD 3 billion in cash to our shareholders while continuing to invest steadily for growth.” Result PDF