Wipro Q4 Preview: Profit may dip 1% QoQ to Rs 3,319 crore; muted revenue likely despite mega-deal push
Seasonal consulting weakness, low discretionary spends likely to hit growth; margin levers, FY26 guidance in focus.
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12:42 PM IST
Wipro is likely to report a soft set of numbers for the March 2025 quarter, with revenues and profits impacted by seasonal headwinds and sluggish client spending. According to estimates, the company’s revenue may rise just 1.49 per cent sequentially to Rs 22,652 crore in Q4FY25, while net profit is expected to slip 1.05 per cent quarter-on-quarter to Rs 3,319 crore. On a year-on-year basis, net profit may rise 17 per cent, aided by last year’s low base.
Margins may compress as revenue disappoints
With muted revenue growth, Wipro's EBIT margins are likely to contract by 12 basis points sequentially. Kotak Institutional Equities expects a 0.5 per cent revenue decline in constant currency (CC) terms, adding that any support to margins will come from the rupee’s depreciation rather than operational efficiency.
Phoenix deal to drive TCV, but execution key
The Phoenix mega-deal may lift Total Contract Value (TCV) to around $1.6–1.8 billion for the quarter. However, analysts remain cautious and want more clarity on execution, deal conversions, and the rationale behind Wipro’s new service line realignment.
Flat outlook for Q1FY26; consulting updates awaited
For the June quarter (Q1FY26), Wipro is expected to guide for revenue growth between -1 per cent and +1 per cent in CC terms. Brokerages such as Nuvama and HSBC say investor focus will be on the health of the consulting business, margin expansion visibility, and key client updates in the energy and manufacturing segments.
Stock trades off highs, eyes FY26 recovery
Wipro shares were up 1.5 per cent at Rs 243.35 on April 15. The stock has rebounded from its 52-week low of Rs 208.40 but remains far below its peak of Rs 324.60. A sustained re-rating will depend on margin recovery, large deal execution, and improved demand traction in FY26.
Wipro will report its Q4 earnings on April 16.
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