Wipro has struck a $71 million acquisition deal to take over key client contracts and related employees from Alpha Net Group. Beyond the upfront value, the transaction includes deferred earnout-linked payments tied to meeting performance conditions. The company expects to complete the deal by June 30, 2026.
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.
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Indian equity markets ended lower on Monday as Reliance Industries, Wipro, and ICICI Bank weighed on benchmarks following Q3 earnings. Trading was turbulent in a set of eight stocks, with sharp swings tied to quarterly results, acquisitions, and guidance updates. Netweb Technologies and Hindustan Zinc rose, while banking and IT names pulled back.
Wipro reported Q4 net profit down 1.9% to Rs 3,502 crore while revenue rose 8%. Over fiscal 2026, annual revenue fell 1.6% in constant currency terms, mirroring TCS, as geopolitical uncertainties, AI-led disruptions, and slower deal ramp-ups continue to pressure growth.
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