Wipro is expected to report a muted June quarter when it announces its results on July 16, with brokerages forecasting a decline in constant currency (cc) revenue, lower profit and margin pressure, while also expecting the IT major to guide for another sequential revenue decline of 2 per cent to flat in the September quarter.Revenue and profitsBrokerage estimates suggest Wipro will report revenue in the range of ₹24,601 crore to ₹24,922 crore for the quarter. This implies sequential growth of 2.2 per cent in reported terms, while cc revenue is expected to decline 1.2 per cent to 1.6 per cent. On a year-on-year basis, revenue is projected to increase 12.6 per cent to 12.9 per cent.Net profit is estimated at ₹3,394 crore to ₹3,528 crore, reflecting a 3.1 per cent to 9 per cent sequential decline and a 1.4 per cent to 4 per cent drop year-on-year, according to brokerage estimates.“Wipro’s revenue growth continues to disappoint, and its guidance implies that organic revenue decline is yet to bottom out. While large buybacks are the Board’s attempt to find valuation support for the stock, weak execution and an inferior revenue mix remain a structural risk for the company at a time when the industry is going through a generational technology shift,” a BNP Paribas report said.Motilal Oswal expects Wipro’s IT services revenue to decline around 1.3 per cent QoQ in cc terms, despite an estimated 1 per cent inorganic contribution from the Mindsprint acquisition. The brokerage attributed the decline to delayed project ramp-ups, weakness in a large client account, and softer demand from the US BFSI segment, which are expected to outweigh the acquisition-led boost.Margins and GuidanceBrokerages broadly expect Wipro to guide for a 2 per cent to 0 per cent sequential decline in cc revenue for Q2FY27, indicating that the company is likely to remain on track for an organic revenue decline in FY27 and continue to significantly underperform its peers.A JP Morgan report said, “We expect margin contraction on account of operating deleverage on the CC revenue decline and pricing pressure.”BNP Paribas expects Wipro’s IT services revenue to decline 1.2 per cent QoQ cc, towards the lower end of the company’s guidance range of a 2 per cent decline to flat growth. The brokerage attributed this largely to the deferment of the AlphaNet acquisition, which had been factored into the company’s guidance.On profitability, BNP Paribas forecasts a 35 bps sequential contraction in EBIT margin to 16.9%, citing heightened pricing pressure, partially offset by favourable cross-currency movements and AI-led optimisation initiatives.Other brokerages, however, expect a steeper margin decline of around 110 bps QoQ to about 16.1%, reflecting the impact of wage hikes, lower-margin deal ramp-ups, and continued investments in AI.Sectoral ViewAccording to Motilal Oswal, Wipro’s BFSI vertical is expected to remain under pressure due to client-specific issues and delayed project ramp-ups. The brokerage also expects the Manufacturing and Healthcare segments to stay subdued, weighed down by tariff-related uncertainty and seasonal weakness.Published on July 12, 2026