Wipro's Q4 Revenue Misses Estimates as Clients Cut Tech Spending

Gate News message, April 17 — Indian IT services firm Wipro reported Q4 consolidated revenue of 242.4 billion rupees (approximately $2.6 billion), a 7.7% year-on-year increase but below analysts' average estimate of 243.6 billion rupees ($2.61 billion) for the three-month period.

The revenue miss was driven by clients reducing technology spending and a slowdown in work from major client Estee Lauder. The broader Indian IT services sector is facing pressure as companies cut back on campus hiring and shift toward specialized workforce models.

Generative AI adoption is accelerating the transformation, with entry-level IT roles declining by up to 25% as companies prioritize specialized hiring. Wipro and peers are repositioning their business models around AI-driven change management and business outcomes rather than scaling through headcount growth.