Wipro October-December Margins Improve, Deal Bookings Fall; Dividend Declared

Wipro on Wednesday reported a modest improvement in operating performance for the December quarter, supported by margin expansion and strong cash generation, even as deal bookings declined year on year, the company said in an exchange filing.

The IT services company posted gross revenue of ₹235.6 billion for the quarter ended Dec 31, 2025, up 3.8% quarter on quarter and 5.5% year on year.

IT services segment revenue stood at $2.64 billion, rising 1.2% quarter on quarter and 0.2% year on year in reported terms. In constant currency terms, IT services revenue increased 1.4% sequentially but declined 1.2% year on year.

Operating Margin Improves
Wipro’s IT services operating margin for October-December came in at 17.6%, expanding 90 basis points sequentially and 10 basis points year on year, marking its best margin performance in recent years.

Operating cash flow rose sharply to ₹42.6 billion, accounting for 135.4% of net income for the quarter.

Net income stood at ₹31.2 billion, down 3.9% quarter on quarter and 7.0% year on year. However, adjusted net income, excluding the impact of labour code changes, increased 3.6% sequentially and 0.3% year on year to ₹33.6 billion. Adjusted earnings per share rose to ₹3.21, an increase of 3.5% quarter on quarter. 

Deal Bookings Decline
Total deal bookings during the quarter came in at $3.34 billion, down 5.7% year on year in constant currency terms. Large deal bookings declined 8.4% year on year to $0.87 billion.

Voluntary attrition edged lower to 14.2% on a trailing twelve-month basis.

Management Commentary
CEO and Managing Director Srini Pallia said the company delivered broad-based growth in line with expectations, with AI-led capabilities contributing to several deal wins during the quarter. He added that adoption of AI-enabled platforms increased and AI-led delivery scaled across global locations.

Chief Financial Officer Aparna Iyer said operating margins improved both sequentially and year on year, reflecting execution discipline. She added that strong cash generation continued during the quarter.

The board declared an interim dividend of ₹6 per share, taking the total payout for the year to $1.3 billion.

Outlook
For the March quarter, Wipro expects IT services revenue to be in the range of $2.64 billion to $2.69 billion, translating into sequential constant currency growth of 0% to 2.0%.