Wipro reports 0.8% yearly rise in gross revenue in Q1 2025-26
The IT services segment revenue was at USD 2,587.4 million, a decrease of 0.3 per cent QoQ and 1.5 per cent YoY.
The IT services operating margin for the quarter was at 17.3 per cent, a contraction of 0.2 per cent QoQ and expansion of 0.8 per cent YoY.
The net income for the quarter was at Rs 33.3 billion (USD 388.4 million), a decrease of 6.7 per cent QoQ and an increase of 10.9 per cent YoY.
Srini Pallia, CEO and Managing Director, said, "In a quarter shaped by macroeconomic uncertainty, clients prioritised efficiency and cost optimisation. We partnered closely with them to address these needs, resulting in 16 large deals, including two mega deals. Building on the momentum from last quarter and supported by a strong pipeline, we are well-positioned for the second half. AI is no longer experimental - it's central to our clients' strategies, and we are delivering real impact at scale."
Aparna Iyer, Chief Financial Officer, said "We expanded our operating margins by 80 basis points on YoY basis. Our cash flow conversion remained strong with operating cash flows being at 123 per cent of our net income. The board also declared an interim dividend of INR 5 per share. With this, the total cash returned to shareholders over the last 6 months is more than USD 1.3 Bn."
Wipro said it expects revenue from the IT Services business segment to be in the range of USD 2,560 million to USD 2,612 million in the July-September quarter. This translates to sequential guidance of (-) 1.0 per cent to 1.0 per cent in constant currency terms.
Wipro has over 230,000 employees and business partners across 65 countries.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
8 minutes ago
- Times of Oman
Oman Air Enhances Fuel Switch Checks on Boeing Fleet
Muscat: National carrier Oman Air confirmed that it has carried out precautionary checks on the fuel switch mechanisms on its Boeing 787 and 737 fleet. Confirming this in an exclusive interview with Times of Oman, Captain Nasser Al Salmi, Chief Operating Officer of Oman Air, said, 'In line with regulatory guidance, we have conducted extra fuel switch checks on all of our Boeing 787 and 737 aircraft as a precautionary measure and as part of our ongoing commitment to the highest safety standards.' Oman Air has eight Boeing 787 aircraft and 23 Boeing 737 aircraft. While Boeing and the United States Federal Aviation Administration have affirmed the safety of the fuel switch locks, several airlines – including Oman Air, Etihad and Singapore Airlines – have opted to take additional precautionary steps in the interest of operational assurance and safety continuity. India's civil aviation regulator has issued a directive for airlines to conduct precautionary inspections of the fuel switch locking mechanisms on all Boeing 787 and 737 aircraft by July 21. This directive comes in the wake of a recent technical review and supports the industry's focus on continuous safety enhancement. On Monday, Etihad, the second-largest airline in the United Arab Emirates, urged all its pilots to check the fuel switches on 787 aircraft in its fleet. India's Aircraft Accident Investigation Bureau's (AAIB) preliminary report, released in the early hours of Saturday, said the fuel control switches were found in the 'cutoff' position, triggering a global debate over whether pilot action or mechanical failure caused India's worst single-aircraft aviation disaster. Fuel switches are crucial components in the heart of an aircraft's cockpit that control the flow of fuel to the engines. The twin-engine Boeing 787, which crashed in Ahmedabad, has one switch for each engine. The switches sit underneath the throttle handles in the cockpit's centre console, positioned where pilots' hands naturally rest during critical flight phases. Physical brackets guard each switch on both sides, making it impossible to accidentally brush against them. A spring-loaded mechanism requires pilots to pull each switch upward against resistance before it can be moved.
Times of Oman
7 hours ago
- Times of Oman
EU Envoy to India clarifies sanctions on Russia, says no disruption to global supply, purchases
New Delhi: The European Union's recent sanctions on Russian oil, energy, banking and defence industries are aimed at degrading Moscow's "war economy" while preserving global oil market stability, said Ambassador of the Delegation of the European Union to India Herve Delphin on Saturday. Delphin, in a post on X, outlined the EU's sanctions policy against Russia, which also targeted a refinery in India, emphasising that it does not prevent countries from purchasing Russian oil and thus avoiding disruptions to global supply. The refinery in India is under Rosneft, a leader in the Russian refining industry, as one of its main shareholders. As per the EU Envoy, the 18th sanctions package reduces the price cap on Russian oil from USD 60 to USD 47.6 per barrel and seeks to further curb revenues fuelling Russia's military efforts in Ukraine. "On EU sanctions policy on Russian oil: Doesn't prevent anyone from buying oil from Russia --> so as not to disrupt the global oil market supply. Capping on Russian oil export prices --> a way of reducing the amount of revenues that feed/ are channeled into the Russian war economy. 18th package reduces the capping from USD 60 barrel to USD 47.6 barrel --> to reduce even further revenues Russia draws from oil export sales," Delphin stated. The EU Envoys' clarification on the sanctions followed India's response to the decision, in which New Delhi stated that it does not subscribe to any unilateral sanctions measures while emphasising the importance of avoiding double standards, especially in the domain of energy trade. As per Delphin, the new cap, adjustable based on market reference prices, imposes a discount on Russian oil, benefiting buyers with stronger bargaining positions. The EU has also banned third-country operators from exporting refined oil products made from Russian crude to the European market, closing a loophole that indirectly boosted Russian revenues. The EU Envoy also noted that European citizens support this measure, despite potential higher import costs from alternative suppliers. "The capping can fluctuate according to oil market reference price --> preserves elasticity of oil market for buyers. The capping amounts to imposing a discount on Russian oil --> benefit for the buyer who has a better bargaining position. Ban on export by third country operators to Europe of refined oil products made from Russian crude oil --> closing loophole to avoid European companies buy such products and indirectly add to Russian oil revenues. European citizens want this, even if it may result in higher import cost by buying from other suppliers," the post added. Additionally, the EU has sanctioned 450 shadow fleet oil tanker ships, targeting Russia's attempts to circumvent sanctions through illicit transport networks, while highlighting the impact that the previously imposed sanctions have had in depriving Russia of EUR 450 billion, resources that would have otherwise supported its military efforts in Ukraine. "Sanctions on shadow fleet oil tanker ships (port call and provision of services) --> closing a loophole that Russia uses to circumvent this sanction. 450 sanctioned shadow fleet ships by the EU. EU conducts its sanctions policy diligently & responsibly," he noted in his post. With oil constituting one-third of Russia's revenues and 40 per cent of its public spending allocated to military efforts--equivalent to 6 per cent to 7 per cent of its GDP--the EU has reduced its dependency on Russian oil by 90 per cent, Delphin affirmed, while noting that the EU member states aim to eliminate all Russian energy imports by 2026-2027 to further starve Russia's "war economy". "Sanctions aim at degrading the Russian war economy: 40% of Russian public spending allocated to finance the military effort -- equivalent to 6 to 7% of the Russian GDP. Impact of imposed sanctions --> took away from Russia 450 billion euros which otherwise it would have had its disposal for the war. Oil represents 1/3 of total Russian revenues --> EU has already reduced its own dependency on Russian oil by 90%. EU Member States will cut off all Russian energy import completely by 2026 & 2027 to stop feeding revenues in Russian war economy," the post read. Addressing Russia's aggression in Ukraine, Delphin condemned it as "illegal" and a "direct security threat" to the EU, its citizens, and territory. "Deliberate Russian aggression on Ukraine is illegal. It causes massive suffering by targeting civilians," he stated, reiterating the EU's stance: "Mr Putin must stop this war; stop the carnage and engage in earnest in peace talks."
Times of Oman
10 hours ago
- Times of Oman
ED summons Google, Meta on July 21 in Betting App case
New Delhi: The Enforcement Directorate (ED) has issued notices to tech giants Google and Meta in connection with its ongoing investigation into alleged money laundering linked to betting applications, official sources said. As part of the probe, the ED has summoned representatives from both companies to appear before its Delhi headquarters on July 21. According to sources, "Google and Meta platforms are promoting betting apps through advertisements and facilitating their reach to users." The agency is examining the role of digital platforms in enabling the promotion of these illegal apps, which are under scrutiny for potential violations of the Prevention of Money Laundering Act (PMLA). The move comes days after the ED searched four locations in Mumbai in a major dabba trading and online betting case, seizing unaccounted cash of Rs 3.3 crore, along with luxury watches, jewellery, foreign currency, and luxury vehicles. Cash-counting machines were also discovered during the search operations. The Enforcement Directorate is examining financial and operational activities of 'dabba trading apps' involved in illegal trading and betting platforms, namely VMoney, VM Trading, Standard Trades Ltd, IBull Capital Ltd, LotusBook, 11Starss, and GameBetLeague. As per officials, "online betting platforms operated through white-label apps and ADMIN rights exchanged on a profit-sharing basis." "Hawala operators and fund handlers identified, with digital and financial records, are being examined," the officials, privy to the development, told ANI. As per ED, a Prevention of Money Laundering Act (PMLA) investigation initiated in the case on the basis of First Information Report registered at Lasudiya Police Station in Madhya Pradesh's Indore on January 9 this year, invoking Sections 319(2) and 318(4) of Bhartiya Nyaya Sanhita (formerly IPC Sections 419 and 420). ED investigations revealed that "Vishal Agnihotri, the beneficial owner of VMoney and 11Starss, acquired ADMIN rights of the LotusBook betting platform on a 5 per cent profit-sharing arrangement. He subsequently transferred these rights to Dhaval Devraj Jain, retaining 0.125 per cent profit while Jain held 4.875 per cent." As per the officials, "Dhaval Jain, along with his associate John States alias Pandey, developed a white-label betting platform and supplied it to Vishal Agnihotri for running
