Wipro's Shares Plummet Amidst Global Uncertainties and Revenue Woes

Wipro's shares fell over 6% after the firm projected up to a 3.5% drop in Q1FY26 IT services revenue due to global uncertainties. Despite a 25.9% rise in net profit for the March quarter, CEO Srini Pallia highlighted macroeconomic challenges affecting client decision-making and tech spending.

Shares of Wipro plunged more than 6% on Thursday following the company's warning of a challenging quarter ahead. The IT giant forecasts a drop of up to 3.5% in IT services revenue for Q1FY26, citing global market uncertainties.

The stock was down 6.18% to Rs 232.20 on the BSE and declined by 6.25% to Rs 232.15 on the NSE. Despite posting a 25.9% year-on-year increase in consolidated net profit to Rs 3,569.6 crore for the March quarter, Wipro expressed caution for the upcoming months.

Wipro CEO and MD Srini Pallia pointed out that macroeconomic uncertainty, including geopolitical tensions and tariff concerns, is impacting client confidence and IT spending. The firm's guidance reflects these challenges, projecting IT services revenue between USD 2,505 million and USD 2,557 million—a sequential drop of 1.5-3.5% in constant currency terms.

(With inputs from agencies.)