Daijiworld Media Network - Bengaluru

Bengaluru, Apr 17: IT major Wipro on Thursday announced a share buyback worth Rs 15,000 crore alongside its financial results for the quarter ended March 2025.

The company’s board approved the buyback of up to 60 crore fully paid-up equity shares, representing about 5.7% of the total paid-up capital. The buyback price has been fixed at Rs 250 per share, a premium of nearly 19% over the last closing price of Rs 210.20 on the BSE.

The buyback will be carried out through the tender offer route on a proportionate basis from existing shareholders as on the record date, which is yet to be announced. Promoter and promoter group entities have also indicated their intention to participate.

Wipro reported a marginal decline of 1.85% in its consolidated net profit for the fourth quarter at Rs 3,502 crore, compared to Rs 3,569 crore in the corresponding period last year.

Revenue from the IT services segment stood at Rs 24,016 crore, registering a 7% year-on-year growth. In dollar terms, IT services revenue came in at $2,651 million, up 0.6% quarter-on-quarter and 2.1% year-on-year. The operating margin for the segment dipped slightly by 0.2% to 17.3%.

For the first quarter of FY27, the company has guided IT services revenue in the range of $2,597 million to $2,651 million, indicating a sequential growth outlook between -2.0% and 0% in constant currency terms.

CEO and Managing Director Srini Pallia said advancements in artificial intelligence are reshaping client priorities and opening new growth opportunities. He added that Wipro is focusing on an AI-first strategy, pivoting towards a services-as-a-software model through its AI Native Business & Platforms unit, while continuing to invest in large-scale strategic deals.