Home / Business and Economy / Wipro Profit Soars 12%, Announces Rs 15,000 Cr Buyback
Wipro Profit Soars 12%, Announces Rs 15,000 Cr Buyback
16 Apr
Summary
- Net profit climbed over 12% sequentially to Rs 3,501 crore.
- Revenue increased 3% to Rs 24,236 crore, meeting analyst expectations.
- Company approved a Rs 15,000 crore share buyback at Rs 250 per share.
Wipro Ltd. announced a robust performance for the fourth quarter of fiscal year 2026, with its net profit surging by over 12% compared to the previous quarter. The IT services firm registered a consolidated profit of Rs 3,501 crore. Revenue for the quarter grew by 3% to Rs 24,236 crore, aligning with market expectations.
The company's earnings before interest and taxes (EBIT) demonstrated strong growth, rising by 19.7% to Rs 4,181 crore, which improved the EBIT margin to 17.3%. In addition to its financial achievements, Wipro's board has approved a significant share buyback program valued at Rs 15,000 crore, set to be completed by the first quarter of fiscal year 2027 at a price of Rs 250 per share.
Despite an overall positive financial report, Wipro's IT revenue experienced a slight sequential decline of 1.2%. Consequently, the company has projected its first-quarter fiscal year 2027 revenue growth to be between -2% and 0% in constant currency. The CEO emphasized a continued focus on an 'AI-first' strategy, noting varied sector performance with growth in BFSI, Southeast Asia, and the UK, while the healthcare sector faced challenges.
