Wipro reported a 2% YoY dip in March-quarter net profit to Rs 3,502 crore even as revenue climbed 8% to Rs 24,236 crore. The IT services business grew sluggishly, with revenue up just 0.6% sequentially. Amid cost pressure and declining operating margins, Wipro approved a Rs 15,000 crore share buyback, aiming to reassure investors.
The Income Tax Department has clarified that capital gains from share buybacks will attract a new 12% surcharge for promoters, introduced under the Finance Bill 2026. For non-promoter shareholders, the surcharge treatment remains tied to their normal income-based rules. The clarification aims to standardize how buyback transactions are taxed across categories.
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