Wipro Announces Record Buyback Despite Revenue Miss

Wipro has unveiled a record share buyback of up to ₹150 billion after reporting a slight miss in quarterly revenue, as reduced client spending in key sectors weighed on performance. The company posted a 7.7% rise in revenue for the March quarter, but still fell short of analyst expectations due to slower demand from industries like energy and banking.

The IT major also faced a setback from reduced business with Estée Lauder, which brought in Accenture as an additional technology partner. Broader uncertainty, including geopolitical tensions and the growing adoption of AI tools, further delayed client spending decisions and impacted overall growth.

Despite these challenges, Wipro reported improved deal wins compared to the previous quarter, though still lower year-on-year. The company expects flat to slightly negative revenue growth in the coming quarter, reflecting cautious market conditions as businesses reassess technology investments.