Wipro (WIPRO) Q4 24/25 earnings summary

Executive summary

• Achieved strong large deal momentum with 17 large deals in Q4 ($1.8B) and 63 for the year ($5.4B, up 17.5% YoY); total bookings reached $4.0B, up 10.5% YoY, with large deal bookings up 48.5% YoY.

• IT services revenue for Q4 was $2.6B, down 0.8% sequentially and 1.2% YoY; full-year revenue was $10.51B, down 2.3% YoY.

• Net income grew 6% QoQ in Q4 and 19% for the year; EPS up 20% YoY to INR 12.6; net profit for the year was ₹132,180 million, up from ₹111,121 million YoY.

• Clients remain cautious amid macro uncertainty, focusing on cost, speed, and AI-led efficiency.

• The Board approved a 1:1 bonus share issue and completed a significant buyback of equity shares in the prior year.

Financial highlights

• Q4 IT services revenue: $2.6B (down 0.8% QoQ, down 1.2% YoY); full-year IT services revenue: $10.51B (down 2.3% YoY).

• Q4 order booking: $4.0B (up 13.4% QoQ, up 10.5% YoY); large deal bookings surged 48.5% YoY.

• Operating margin: 17.5% in Q4 (flat QoQ, up 1.1% YoY); 17.1% for FY25 (up 0.9%).

• Free cash flow as % of net income: 118%; gross cash including investments: $6.4B; cash and cash equivalents at year-end: ₹121,974 million.

• Basic EPS for FY25 was ₹12.56, compared to ₹10.44 in FY24 (adjusted for bonus issue).

Outlook and guidance

• Q1 FY26 IT services revenue guidance: $2.505B–$2.557B, implying sequential decline of 3.5% to 1.5% in constant currency.

• Clients expected to remain cautious, especially on large transformation and discretionary spending.

• Margin expected to remain in a narrow band despite revenue headwinds.

• Management remains committed to growth in key geographies: Americas, Europe, and APMEA.