Wipro share price slumped almost 4% on Friday, April 17, following the IT giant’s reported consolidated net profit of ₹3,501.8 crore for the March quarter of FY26, which reflects a decline of 1.89% compared to ₹3,569.6 crore from the previous year.
The profit decrease occurs amid a tough macroeconomic climate, which Wipro’s CEO and MD, Srini Pallia, referred to during the earnings call as the “new normal,” characterized by geopolitical and policy challenges; however, he pointed out that overall IT spending has remained resilient.
Wipro’s board has also sanctioned a massive ₹15,000 crore share buyback program, aiming to repurchase more than 5% of its equity, or up to 60 crore shares, from shareholders at a price of ₹250 per share.
The Bengaluru-based Wipro reported a year-on-year revenue growth of 7.6%, reaching ₹24,236.3 crore in Q4 FY26, up from ₹22,504.2 crore in the same quarter last year. Compared to the previous quarter, the company experienced increases of 12.2% in profit and 2.8% in revenue.
The core IT Services division generated revenue of $2,651 million during this quarter, showing a 0.6% growth from the previous quarter and a 2.1% increase compared to the same period last year.
For the upcoming quarter ending June 30, 2026, Wipro has projected IT Services revenue to be between $2,597 and $2,651 million, suggesting a sequential growth forecast of -2.0% to 0% in constant currency terms.
Should you buy, sell or hold?
According to Nuvama Institutional Equities, Wipro Ltd reported a subdued performance in Q4FY26. IT Services revenue grew just 0.2% QoQ in constant currency terms, falling short of both the brokerage’s estimate of 0.5% and Street expectations of 0.9%. The IT Services segment’s adjusted EBIT margin stood at 17.3%, down 30 basis points sequentially, largely in line with estimates.
Large deal wins remained steady, with total contract value (TCV) at $1.4 billion (around ₹11,620 crore), up 65% QoQ but down 18% YoY. The company’s Q1FY27 guidance also appears weak at -2% to 0% growth.
Wipro is expected to begin FY27 on a soft note following a 1.6% YoY decline in FY26. However, the company has announced a ₹15,000 crore buyback at ₹250 per share, a 19% premium to the current market price. Nuvama has raised its FY27E/FY28E estimates and maintains a ‘BUY’ rating with a target price of ₹255.
Motilal Oswal Financial Services believes that Wipro is likely to witness modest growth in FY27E, with revenue expected to rise around 1.0% year-on-year in constant currency terms.
According to the brokerage, this outlook factors in a weak start to the year, with Q1FY27 revenue projected to decline about 1.0% QoQ in constant currency, along with continued near-term headwinds such as delays in deal ramp-ups, weakness in key verticals, and a decline in contribution from top clients.
The brokerage also highlighted limited scope for margin expansion due to wage hikes, ramp-up of lower-margin deals, and ongoing investments in AI. It has largely maintained its estimates, noting that improved execution and consistent conversion of deal wins into revenue will be critical for a more positive outlook.
Motilal Oswal has reiterated a ‘Neutral’ rating on the stock, with a target price of ₹215, valuing it at 14x FY28E earnings.
Wipro share price today
Wipro share price today opened at an intraday high of ₹206.95 apiece on the BSE, the stock touched an intraday low of ₹202.60 per share.
According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Wipro shares opened with a gap down and witnessed follow-up selling in the morning session. As long as the bearish gap remains unfilled, the near-term bias is likely to stay under pressure.
“The gap zone of 208–210 will act as an immediate resistance; a sustained move above this could revive the uptrend. Until then, weakness may persist. On the downside, strong support is placed around 190–192, which is likely to act as a buying zone,” said Bhosale.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
