Wipro tanks over 6% as co sees up to 3.5% drop in IT services revenue for Q1FY26

New Delhi: Shares of Wipro on Thursday tanked over 6 per cent after the firm warned of a weak quarter ahead with up to 3.5 per cent expected drop in IT services revenue for Q1FY26, amid global uncertainties.

The stock dropped 6.18 per cent to Rs 232.20 on the BSE.

At the NSE, it declined by 6.25 per cent to Rs 232.15.

Wipro on Wednesday reported a 25.9 per cent year-on-year rise in consolidated net profit for the March quarter to Rs 3,569.6 crore, but warned of a weak quarter ahead with up to 3.5 per cent expected drop in IT services revenue for Q1FY26, amid global uncertainties.

Wipro CEO and MD Srini Pallia said clients remain cautious in the face of macroeconomic uncertainty, but Wipro is focused on partnering closely with them while keeping its gaze on consistent and profitable growth.

For Q1 FY26, the firm sees its IT services business revenue between USD 2,505 million and USD 2,557 million, a drop of 1.5-3.5 per cent in constant currency (cc) terms on a sequential basis.

"The guidance is baked into all the uncertainties that we see, but I think the most important thing is what's happening in the macro environment. Today, in addition to the geopolitics this year, macro environment in the context of tariffs has created a lot of uncertainties to our clients and this uncertainty varies from country to country, markets to market, sectors by sectors," Pallia said during the company's earnings conference.

Over the past weeks, US' on-now, off-now tariff moves have roiled global markets and many IT analysts fear that a bitter trade war and a possible slowdown in the American economy could take a toll on IT decision-making or curtail tech demand and spending from specific verticals.