Wipro Q1FY26 Consolidated Results

• Wipro reported IT service revenues of $2,587 million, down 2% q-o-q in constant currency terms, beating our estimates of 2.5% q-o-q decline in CC.
• IT services EBIT margin fell ~20 bps to 17.3% nearly in-line with our estimates of 17.4%. Adjusted PAT stood at Rs 3,330 crore, down 6.7%/up10.9% beating our estimates of Rs. 3,304 crore. Large deal bookings stood at $2.666 billion, up 131% y-o-y in constant currency. Total bookings stood at $4.971 billion, up 50.7% q-o-q in constant currency. 
• The company provided revenue growth guidance for IT services of -1% to 1% in CC terms for Q2FY26.
• Net headcount declined by114 q-o-q, taking the total headcount to 233,232. Utilisation rate (excluding trainees) improved by 40 bps q-o-q to 85% from 84.6% in Q4FY25.LTM attrition inched up by 10 bps q-o-q to 15.1%. 

Result Summary                                                                                       Rs Crore

Actual Vs Estimates                                                                                       Rs Crore