Wipro Limited — Investor Meet, 18-07-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Wipro reported Q1 FY'26 IT services revenue of $2.59 billion, a 2% constant currency sequential decline, with margin expanding to 17.3%. Net income grew 10.9% YoY. The company secured strong bookings of $5 billion TCV, up 51% YoY, led by a 131% increase in large deals to $2.7 billion, including two mega deals, reflecting a shift towards AI and modernization projects. Management noted a cautious macro environment but expressed confidence in H2 performance due to the strong order book. Europe faces headwinds but client-specific issues are easing. Wipro expects -1% to +1% sequential growth in Q2 and will prioritize converting large deals into profitable growth. The Board declared an interim dividend of INR 5 per share.