Wipro Limited

NYSE:WIT Stock Report

Market Cap: US$23.0b

Wipro Past Earnings Performance

Past criteria checks 2/6

Wipro has been growing earnings at an average annual rate of 3%, while the IT industry saw earnings growing at 10.7% annually. Revenues have been growing at an average rate of 5.5% per year. Wipro's return on equity is 15%, and it has net margins of 14.2%.

Key information

3.01%

Earnings growth rate

4.60%

EPS growth rate

IT Industry Growth22.43%
Revenue growth rate5.55%
Return on equity15.03%
Net Margin14.25%
Last Earnings Update31 Mar 2026

Recent past performance updates

Recent updates

Seeking Alpha • Apr 20

Wipro: Still Hard To Love

Summary Wipro Limited sold off yet again after a mixed quarter. A closer look at the WIT fundamentals points to more downside than upside. The risk/reward isn’t yet favorable enough to warrant a position in WIT stock. Read the full article on Seeking Alpha
Seeking Alpha • Jan 07

Wipro Faces Demand Softness In Europe And Longer-Term Questions (Downgrade)

Summary Wipro Limited faces a challenging demand environment, particularly in Europe, and the rise of Generative AI threatens its BPO segment over the longer term. Despite stable operating income and gross profit margins, Wipro's topline revenue has declined, and customer spending remains hesitant post-pandemic. Generative AI's efficiencies could disrupt Wipro's lower-value outsourcing services, making it difficult for the company to replace declining revenue streams. My outlook on WIT stock is to sell. Read the full article on Seeking Alpha
Seeking Alpha • Sep 05

Wipro: Fade The IT Services Bounce

Summary It’s been a very challenging year for Wipro. Things are getting incrementally better, but hurdles remain. For now, the stock simply doesn’t offer enough buffer. Read the full article on Seeking Alpha
Seeking Alpha • Apr 03

Wipro: Focus On Peer's Performance And Long-Term Potential

Summary Wipro's upcoming quarterly results release could potentially be weaker than what the market anticipates, taking into account its peer's recent quarterly financial performance and management comments. On the flip side, WIT's long-term growth outlook is favorable, considering the rise of AI and the projected increase in Engineering, Research & Development or ER&D spending. Wipro's shares are rated as a Hold, after assessing the stock's valuations and evaluating the company's prospects for the near-term and long-run. Read the full article on Seeking Alpha
Seeking Alpha • Jan 15

Wipro: On The Recovery Path

Summary Wipro has been hit hard by IT spending cuts in recent years. With a recovery on the horizon, however, the company is now poised to outperform. Wipro stock is priced quite reasonably relative to underlying growth and broader Indian indices. Read the full article on Seeking Alpha
Seeking Alpha • Oct 31

Wipro Gains Large Clients Despite Tough Demand Environment

Summary Wipro Limited is facing challenges in the IT consulting industry as clients prioritize cost optimization projects over discretionary IT spending. The company is experiencing significant growth in large deal sizes, but overall revenue has fallen year-over-year. Wipro Limited stock may be fully valued, and my outlook remains Hold for the near term. Read the full article on Seeking Alpha
Seeking Alpha • Aug 25

Wipro: Growth In The AI Digital Age

Summary Wipro Limited is a global IT and consulting company offering a wide range of services. Wipro has achieved a revenue growth rate of 8%, slightly below the industry average, driven by technological developments such as Cloud-based solutions. We expect growth to remain strong, driven by factors such as AI, as businesses require support to incorporate the technology. Wipro's margins have poorly developed in the last decade, owing to increasing competition and the commoditization of the services it focuses on (Wipro does far less value-add services like Accenture). Wipro is trading in line with its historical average, which based on our analysis implies no upside. Read the full article on Seeking Alpha
Seeking Alpha • Jun 28

Wipro Faces Soft Client Discretionary Spending Amid Macro Uncertainties

Summary Wipro Limited provides a range of IT consulting and advisory services to organizations worldwide. While management touted its strong growth in bookings, it has provided little forward guidance and Q1's guidance is negative for revenue. With clients reducing discretionary spending amid a macroeconomic slowdown, I remain Neutral [Hold] for WIT in the near term. Read the full article on Seeking Alpha
Seeking Alpha • Jan 23

Wipro goes ex dividend tomorrow

Wipro (NYSE:WIT) has declared $0.012/share interim dividend for shareholders of record Jan. 25; ex-div Jan. 24. See WIT Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jan 12

Wipro Q3 2023 Earnings Preview

Wipro (NYSE:WIT) is scheduled to announce Q3 earnings results on Friday, January 13th, before market open. The consensus EPS Estimate is $0.07 and the consensus Revenue Estimate is $2.84B (+5.2% Y/Y). Over the last 3 months, EPS estimates have seen 0 upward revisions and 1 downward. Revenue estimates have seen 1 upward revision and 2 downward.
Seeking Alpha • Dec 15

Wipro to enable application transformation for Mazda Europe

Mazda Motor Logistics Europe has selected technology services firm Wipro (NYSE:WIT) to deliver next-generation managed services for its entire application landscape as part of a five-year, multi-million dollar deal. The automaker is currently transforming itself into a more centralized organization with harmonized business processes and standardized business capabilities. This strategic relationship with Wipro (WIT) will help industrialize Mazda IT, digitize processes, and further enable agile DevOps ways of working while infusing state-of-the-art tools to drive automation.
Seeking Alpha • Nov 08

Wipro to launch dedicated VMware-focused business unit

IT firm Wipro (NYSE:WIT) has announced an extended collaboration with VMware (NYSE:VMW). Under this expanded relationship, Wipro (WIT) will launch a new dedicated VMware-focused business to help mutual customers to accelerate digital transformation. The new business unit will leverage Wipro FullStride Cloud Services' expertise across industries along with VMware Cross-Cloud services, with a goal to streamline VMware implementations and accelerate deployment of applications. The partnership will cover the Americas, Europe, Middle East, Africa, and Asia Pacific, involving multi-million-dollar investments across sales, alliances, and delivery resources in each of these regions. The delivery will be executed through Wipro FullStride Cloud Studios in U.S., Europe, and India.
Seeking Alpha • Oct 20

Wipro appoints Suzanne Dann as CEO for Americas 2 Strategic Market Unit

Wipro (NYSE:WIT) has appointment of Suzanne Dann as CEO of Wipro Americas 2 Strategic Market Unit, effective immediately. Dann will also join the Wipro Executive Board. In her new role, Dann will focus on increasing bookings, large deal signings, and revenue in high-growth strategic areas. Dann joined Wipro in April 2021 as U.S. Senior Vice President for Capital Markets and Insurance.
Seeking Alpha • Oct 11

Wipro Q2 2023 Earnings Preview

Wipro (NYSE:WIT) is scheduled to announce Q2 earnings results on Wednesday, October 12th, before market open. The consensus EPS Estimate is $0.07 and the consensus Revenue Estimate is $2.74B (+3.4% Y/Y). Over the last 3 months, EPS estimates have seen 0 upward revisions and 2 downward. Revenue estimates have seen 1 upward revision and 0 downward.
Seeking Alpha • Jul 27

Wipro: Results Fall Short Again As Profit Outlook Remains Bleak

Wipro got off to a flying start under its new CEO, but the growth and margin outlook is looking less rosy. On an organic basis, the top line remains sluggish while cost headwinds continue to weigh on margins. With shares remaining at a premium relative to growth, I remain on the sidelines. Bangalore-based Wipro (WIT) has delivered some impressive top-line growth numbers following a change in guard at the top, but growth is beginning to slow, and with a global economic slowdown on the horizon, I see limited upside to near-term growth estimates. The recent quarterly result did little to assuage concerns, as organic revenue growth and margins disappointed, raising questions around potential EPS cuts and Wipro's ability to balance growth and profitability ahead. Coupled with pending wage hikes and returning travel costs, along with continued M&A integration risk, I think shares are vulnerable to plenty of downside risks. Furthermore, the valuation remains relatively rich at the current c. 15x P/E (vs. a medium-term EPS CAGR of c. 7%) and c. 2x PEG ratio. Organic Revenue Growth Disappoints Wipro fell short of consensus expectations for its latest quarter, delivering revenue of $2.74 billion (+2.1% Q/Q and +17.2% Y/Y in constant currency terms). Adjusted for the six weeks of incremental M&A contribution from Rizing, however, organic growth was even lower at +1.1% Q/Q – this was at the lower end of its prior +1-3% Q/Q guidance. Growth was also far from broad-based, with only industry verticals like BFSI ("Banking, Financial Services, and Insurance"), Retail, and Telecom making a positive contribution, along with the Americas. On the other hand, weakness in Europe and APMEA ("Asia Pacific/Middle East/Africa") continued to be a drag on growth (consistent with the last few quarters). Also worth noting is that the results have been helped by a reversal of the pricing discount provided during the pandemic. Considering this dynamic played out in fiscal 2022, Wipro should continue to get the full-year benefit through fiscal 2023. As this tailwind reverses, however, the company will need to differentiate its offering to drive pricing, posing a downside risk to top-line estimates ahead. Wipro A Surprisingly Robust Deal Pipeline Encouragingly, Wipro's deal wins were solid this quarter at $1.1 billion (equivalent to a 0.4x book-to-bill), while the TCV ("total contract value") of deal wins reached $1.5 billion (+30% Y/Y) – already tracking well above the fiscal 2022 run-rate (note TCV was $2.3 billion for the fiscal year). Similarly, ACV ("annual contract value") was up 18% Y/Y for the quarter, highlighting the fact that Wipro's investment in a large deal team is paying off. Notably, Wipro also had 18 large deal wins in FQ1 '23, most of which were transformational in nature, driving the deal pipeline to an all-time high. By segment, bookings growth was led by the engineering and cloud businesses, which rose c. 100% Y/Y and 35% Y/Y, respectively. Looking ahead, management guided to an all-time high for the demand pipeline and, surprisingly, did not point to any specific demand concerns. This view also extends to Capco, which continues to do well and has not seen any signs of a slowdown. In addition, Capco has not seen further attrition following the acquisition, which is a good sign as Wipro looks to extract synergies. While encouraging, I am concerned that Wipro may have set the bar too high as a result, leaving estimates vulnerable to future disappointments on the macro front. In the meantime, it will be worth keeping track of commentary from key end markets (e.g., major foreign banks along with cloud hyperscalers) to pinpoint the extent of a potential economic slowdown. Margin Pressure Remains the Key Hurdle The biggest letdown from Wipro's quarterly report was margins for IT services, which fell short of Street expectations at a c. 200bps Q/Q decline. Management attributed the disappointing margin result to acquisition costs from Rizing, increased fresher hiring, and the return of travel costs amid easing lockdowns globally. I would also note the persistently high attrition at 23.3% (vs. 23.8% in FQ4' 22), which likely drove the hiring of approximately 15.5k net employees (+6% Q/Q) during the quarter (including c. 10k freshers). The elevated hiring trend looks set to continue, with management also guiding to hire 40k freshers in fiscal 2023 – almost double its fresher intake in fiscal 2022. In line with the hiring spree, net utilization (excluding trainees) has been poor at 83.8% in FQ1 '23 (down 140bps Q/Q), while the decline in gross utilization was even steeper at -310bps to 72.7%. Wipro
Seeking Alpha • Jul 19

Wipro Q1 2023 Earnings Preview

Wipro (NYSE:WIT) is scheduled to announce Q1 earnings results on Wednesday, July 20th, before market open. The consensus EPS Estimate is $0.07 (-12.5% Y/Y) and the consensus Revenue Estimate is $2.71B (+10.2% Y/Y). Over the last 3 months, EPS estimates have seen 0 upward revisions and 0 downward. Revenue estimates have seen 0 upward revisions and 1 downward.
Seeking Alpha • May 10

Wipro: Valuation Discount Warranted Amid Slowing Growth

Wipro faces challenges from all sides in the coming quarters. Growth is slowing, and costs are rising, with macro uncertainties also weighing on the outlook. The stock trades at a justified valuation discount to industry leader Infosys.

Revenue & Expenses Breakdown

How Wipro makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:WIT Revenue, expenses and earnings (INR Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 26926,240131,97449,6990
31 Dec 25908,919132,652122,2180
30 Sep 25896,549135,000119,7460
30 Jun 25892,592134,626120,2980
31 Mar 25890,884131,354121,7980
31 Dec 24887,925124,004123,3210
30 Sep 24886,788117,408126,6440
30 Jun 24888,931111,783127,9020
31 Mar 24897,603110,452130,3160
31 Dec 23907,423112,851130,6440
30 Sep 23917,662116,438129,3830
30 Jun 23917,900116,565127,8190
31 Mar 23904,876113,500124,1780
31 Dec 22881,573113,628118,3240
30 Sep 22852,419112,789111,5760
30 Jun 22823,696115,506106,6000
31 Mar 22790,934122,191100,6700
31 Dec 21744,788121,03993,2570
30 Sep 21698,352121,01686,3730
30 Jun 21652,823116,36579,0160
31 Mar 21619,430107,94675,2640
31 Dec 20614,086101,48574,6940
30 Sep 20612,09196,37674,0800
30 Jun 20612,20297,24673,4530
31 Mar 20610,23297,21872,7300
31 Dec 19603,18598,79167,2760
30 Sep 19599,07599,33666,7790
30 Jun 19593,22992,69974,1330
31 Mar 19585,84590,03175,3200
31 Dec 18573,46883,22682,3810
30 Sep 18559,56377,49485,4160
30 Jun 18548,38780,52277,8580
31 Mar 18544,87180,08175,8470
31 Dec 17547,06084,66471,4730
30 Sep 17547,24886,38768,2450
30 Jun 17550,67185,14269,4520
31 Mar 17550,40284,89569,7820
31 Dec 16546,85184,66470,5140
30 Sep 16538,57885,93968,0900
30 Jun 16526,05687,67665,5260
31 Mar 16512,44089,07562,7230
31 Dec 15497,53489,41560,4930
30 Sep 15488,85888,97459,0300
30 Jun 15480,56187,41357,6680

Quality Earnings: WIT has high quality earnings.

Growing Profit Margin: WIT's current net profit margins (14.2%) are lower than last year (14.7%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: WIT's earnings have grown by 3% per year over the past 5 years.

Accelerating Growth: WIT's earnings growth over the past year (0.5%) is below its 5-year average (3% per year).

Earnings vs Industry: WIT earnings growth over the past year (0.5%) did not outperform the IT industry 2%.

Return on Equity

High ROE: WIT's Return on Equity (15%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/02 01:57
End of Day Share Price 2026/06/02 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Wipro Limited is covered by 67 analysts. 40 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null null360 ONE Capital Market Private Limited
Pulkit Chawla360 ONE Capital Market Private Limited
Ashwin MehtaAmbit Capital