Information technology (IT) company Wipro Ltd on Thursday approved its largest-ever share buyback programme worth ₹15,000 crore, signalling a major capital return initiative even as the company reported a marginal decline in quarterly profit.
In a regulatory filing, the company says its board has cleared a proposal to repurchase up to 600mn (million) fully paid-up shares of face value ₹2 each, representing 5.7% of its total paid-up capital. The buyback will be carried out at a price of ₹250/share through a tender offer route, subject to shareholder approval.
The company expects to complete the buyback in the first quarter of 2027.
As per the filing, the total outlay for the buyback will not exceed ₹15,000 crore. The repurchase will be undertaken in accordance with the Companies Act, 2013 and Securities and Exchange Board of India (SEBI)’s Buy-back of Securities Regulations.
Wipro's chief financial officer (CFO) Aparna Iyer says the buyback reflects the company’s continued commitment to return surplus cash to shareholders, alongside dividends.
The move comes as part of Wipro’s broader capital allocation strategy, under which it has already distributed a significant portion of its cash flows through dividends during FY25-26, including an interim dividend of ₹11 per share.
Wipro reported a 1.89% year-on-year (y-o-y) decline in consolidated net profit for the March quarter of FY25-26 at ₹3,501.8 crore, compared to ₹3,569.6 crore in the same period last year.
However, on a sequential basis, profit rose over 12%, indicating improved quarterly performance.
Revenue from operations grew 7.6% y-o-y to ₹24,236.3 crore during the quarter, supported by steady demand in IT services.
For the full FY25-26, the company posted net income of around ₹13,200 crore, reflecting modest growth, while maintaining operating margins in a narrow range of about 17.2%.
According to the company’s regulatory disclosure, total bookings stood at US$3.45bn (billion) in the March quarter, with large deal bookings witnessing a sharp sequential jump.
Operating cash-flows remained robust at over 90% of net income for the quarter and over 112% for the full year, highlighting strong cash conversion.
Looking ahead, Wipro says it expects revenue from its IT services business to remain flat to slightly negative in the June 2026 quarter, with guidance in the range of -2% to 0% growth in constant currency terms.
The company's managing director and chief executive officer (MD&CEO) Srini Pallia says Wipro is repositioning itself to capitalise on artificial intelligence (AI)-driven opportunities.
He noted that Wipro is shifting towards a 'services-as-a-software' model through its AI-focused business unit, aiming to deepen client partnerships and capture emerging demand.
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