Large deal bookings rose to $1.63 billion and Wipro guided September-quarter IT services revenue to a range of $2.574 billion to $2.627 billion amid continued AI-led client spending shifts.
Wipro reported first-quarter consolidated revenue of 244.79 billion rupees ($2.59 billion) for the three months ended June 30, up 10.6% from a year earlier but below analysts’ average estimate of 247.76 billion rupees compiled by LSEG. IT services revenue was $2.61 billion, down 1.4% sequentially but up 1.0% year-on-year, while non-GAAP constant-currency IT services revenue fell 1.2% quarter-on-quarter and rose 0.9% from a year earlier. Large deal bookings increased 12.9% sequentially in constant currency to $1.626 billion, with 13 large deals in the quarter, even as total bookings slipped 2.4% sequentially to $3.37 billion. Net income rose 0.6% year-on-year to 33.6 billion rupees and operating cash flow was 98% of net income. Wipro declared an interim dividend of 2 rupees per share and said it expects September-quarter IT services revenue of $2.574 billion to $2.627 billion, implying sequential constant-currency growth of down 1.5% to up 0.5%. The results reflect a market where clients are moving from technology modernization toward AI-enabled operating models, while still remaining selective on discretionary spending.