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Informist, Wednesday, Jul. 15, 2026

 

By Shakshi Jain

 

NEW DELHI – Wipro Ltd. is expected to post a marginal sequential decline in consolidated net profit for the June quarter owing to the incremental impact of wage hikes and acquisition-related charges. Revenues are likely to rise slightly due to depreciation of the rupee against the dollar. In constant currency terms, the company's revenues are likely to fall sequentially on the back of delays in the ramp-up of large deals, according to analysts.

 

The Bengaluru-based information technology services company's consolidated net profit for the June quarter is expected to decline 1.8% sequentially to INR 34.37 billion, according to the average of estimates from 17 brokerages. However, this implies year-on-year growth of 3.2%. The highest bottom-line estimate is INR 36.22 billion from Kotak Securities Ltd. and the lowest is INR 31.92 billion from ICICI Securities Ltd.

 

Wipro's consolidated revenues for the June quarter are likely to grow 2.4% sequentially and over 12% on year to INR 248.19 billion, as per the average of 17 estimates. The highest top-line estimate is INR 252.9 billion from ICICI Securities and the lowest is INR 239.5 billion from Anand Rathi Share and Stock Brokers Ltd.

 

In constant currency terms, the revenues of India's fourth-largest IT company by market capitalisation are expected to decline 0.4-1.5% on a sequential basis. For the June quarter, Wipro had guided for (-)2% to 0% sequential movement in revenues in constant-currency terms from its IT services business.

 

"BFSI (banking, financial services, and insurance) may remain soft due to client-specific issues and delayed ramp-ups, while Manufacturing and Healthcare are likely to stay subdued amid tariff uncertainty and seasonal weakness," Motilal Oswal Financial Services Ltd. said. Kotak Securities said a delay in the acquisition of select customer contracts from Alpha Net Consulting LLC. means Wipro lost out on the $5 million in revenue baked into the guidance for the June quarter. The brokerage estimates around 60 basis-point revenue contribution from Mindsprint, the IT and digital services business acquired from Singapore-based Olam Group.

 

In dollar terms, the company's revenue for the June quarter is expected to fall slightly to $2.62 billion from $2.65 billion for the March quarter, as per the average of 13 estimates. The projections range from $2.59 billion by Indsec Securities and Finance Ltd. to $2.67 billion by ICICI Securities. Analysts anticipate a (-)20-30 bp cross-currency impact on dollar revenues of the company for the quarter. 

 

"We expect TCV (total contract value) to remain in the US$3-3.5 bn range and remain stable QoQ as there have been no mega deal announcements in 1Q," Nirmal Bang Equities Pvt. Ltd. said.

 

For the March quarter, Wipro had reported a consolidated net profit of INR 35.02 billion on revenues of INR 242.36 billion.

 

MARGIN MOVEMENT

Wipro's earnings before interest and tax margin is likely to contract 90 bps sequentially to 16.4%, according to the average of 14 estimates. Brokerages said this contraction in margin is expected on the back of higher wages, acquisition-related charges, ramp-up costs associated with large deals, integration of low-margin acquired businesses, and investments in the Wipro Intelligence platform. Wipro had rolled out salary hikes for its employees effective Mar. 1.

 

Wipro will announce its June quarter results Thursday. Market participants await management commentary on demand and deal pipeline, and client-specific challenges, if any. Analysts are divided on their expectations of what the company will guide for in terms of revenue growth in constant currency terms for the September quarter. JM Financial, Emkay Global Financial Services Ltd., Nuvama Wealth Management Ltd., Centrum Broking Ltd., and Nomura Financial Advisory & Securities (India) Pvt. Ltd. expect the company to guide for (-)1-1% growth while Kotak Securities expects a guidance of (-)2-0% movement.

 

Wednesday, Wipro's shares closed at INR 174.65 apiece on the National Stock Exchange, down 1.4% from Tuesday. The stock has fallen nearly 17% since the company announced its March quarter earnings on Apr. 16. The stock is also down almost 36% from its 52-week high of INR 273.1 hit on Dec. 22.

 

Of the 15 research reports on Wipro available with Informist, seven have a "hold" or equivalent recommendation on the stock with an average target price of INR 222 per share, which is over 26% higher than the current market price. Of the remaining eight, four each have "buy" and "sell" calls. The average target price of the "buy" recommendations is INR 262 and that of the "sell" recommendations is INR 205. These are around 49% and 17% higher, respectively, than the current market price.

 

Following are the June quarter earnings estimates for Wipro from 17 brokerage firms, in descending order of net profit estimate, in INR billion:

 

Broking Firm	Net Sales	Net Profit	Revenue ($)	EBIT (%)
Kotak Securities Ltd.	248.93	36.22	2.62	17.3
IDBI Capital Market Services Ltd.	247.33	35.37	2.61	17
Nirmal Bang Equities Pvt. Ltd.	244.41	35.27	2.66	16.6
JM Financial Institutional Securities Pvt. Ltd.	249.15	35.23	2.61	16.5
PhillipCapital (India) Pvt. Ltd.	249.83	34.83	2.61	16.5
Axis Securities Ltd.	244.79	34.62	--	16.4
Prabhudas Lilladher Pvt. Ltd.	249.80	34.60	2.61	16.6
Indsec Securities and Finance Ltd.	247.00	34.50	2.59	16.5
Nomura Equity Research	248.45	34.34	2.62	16.5
Emkay Global Financial Services Ltd.	248.92	34.31	--	--
Motilal Oswal Financial Services Ltd.	249.00	34.00	2.61	16.1
Elara Securities (India) Pvt. Ltd.	249.22	33.94	2.62	--
Nuvama Wealth Management Ltd.	249.10	33.78	2.60	15.9
Anand Rathi Share and Stock Brokers Ltd.	239.50	33.49	2.62	16.7
Centrum Broking Ltd.	252.58	32.85	--	15.4
ICICI Securities Ltd.	252.90	31.92	2.67	15.1
YES Securities (India) Ltd.	248.37	35.05	--	--
Average	248.19	34.37	2.62	16.36

 

End

 

US$1 = INR 96.25

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Shubhayan Bhattacharya

 

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