Revenue increased 0.9% YoY in CC
Large deal bookings at $1.6 Bn, grew 12.9% QoQ, including 13 large deals in Q1
Net income grew 0.6% YoY; Operating cash flow at 98% of Net income
EAST BRUNSWICK, N.J. & BANGALORE, India--(BUSINESS WIRE)--July 16, 2026--
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended June 30, 2026.
Highlights of the Results
Results for the Quarter ended June 30, 2026:
1. Gross revenue at Rs 244.8 billion ($2,585.9 million1), an increase of
1.0% QoQ and 10.6% YoY.
2. IT services segment revenue was at $2,614.5 million, decrease of -1.4%
QoQ and increase of 1.0% YoY.
3. Non-GAAP constant currency2 IT Services segment revenue decreased 1.2%
QoQ and increased 0.9% YoY.
4. Total bookings3 was at $3,370 million, down by 2.4% QoQ in constant
currency2. Large deal bookings4 was at $1,626 million, increase of 12.9%
QoQ in constant currency2.
5. IT services operating margin5 for Q1'27 was at 16.0%, decrease of 1.3%
QoQ and 1.2% YoY.
6. Net income for the quarter was at Rs 33.6 billion ($354.6million1),
decrease of 4.7% QoQ and increase of 0.6% YoY.
7. Earnings per share for the quarter at Rs 3.20 ($0.031), decrease of
4.2% QoQ and increase of 0.6% YoY.
8. Operating cash flows of Rs 32.9 billion ($348 million1), increase of
3.6% QoQ and at 98.0% of net income for the quarter.
9. Voluntary attrition was at 13.9% on a trailing 12-month basis.
10. Declared interim dividend of Rs 2 ($0.021) per equity share/ADS.
Outlook for the Quarter ending September 30, 2026
We expect revenue from our IT Services business segment to be in the range of $2,574 million to $2,627 million*. This translates to sequential guidance of (-)1.5% to (+)0.5% in constant currency terms.
*Outlook for the Quarter ending September 30, 2026, is based on the following exchange rates: GBP/USD at 1.34, Euro/USD at 1.16, AUD/USD at 0.71, USD/INR at 94.50 and CAD/USD at 0.71
Performance for the Quarter ended June 30, 2026
Srini Pallia, CEO and Managing Director, said, "Clients are moving beyond technology modernization to AI-enabled operating models that improve quality, resilience, and productivity. Wipro's consulting-led, AI-powered approach helps clients embed AI at the core of their business, and these engagements reflect both the breadth of our capabilities and the trust clients place in us as a transformation partner."
Aparna Iyer, Chief Financial Officer, said, "As we navigate an evolving technology landscape, we remain focused on investing in our people and strategic priority areas. While these investments may create some near-term margin volatility, it sets a strong foundation for future growth. Cash flow remained robust, with operating cash flow at 98% of net income for the quarter. We are also pleased to share that the Board has declared an interim dividend of Rs 2 per share. Including this dividend and payouts made over the past year, we would have returned more than $3 Bn in cash to our shareholders while continuing to invest steadily for growth."
1. For the convenience of the readers, the amounts in Indian Rupees in
this release have been translated into United States Dollars at the
certified foreign exchange rate of US$1 = Rs 94.66, as published by the
Federal Reserve Board of Governors on June 30, 2026. However, the
realized exchange rate in our IT Services business segment for the
quarter ended June 30, 2026, was US$1= Rs 93.53
2. Constant currency for a period is the product of volumes in that period
times the average actual exchange rate of the corresponding comparative
period.
3. Total Bookings refers to the total contract value of all orders that
were booked during the period including new orders, renewals, and
increases to existing contracts. Bookings do not reflect subsequent
terminations or reductions related to bookings originally recorded in
prior fiscal periods. Bookings are recorded using then-existing foreign
currency exchange rates and are not subsequently adjusted for foreign
currency exchange rate fluctuations. The revenues from these contracts
accrue over the tenure of the contract. For constant currency growth
rates, refer note 2.
4. Large deal bookings consist of deals greater than or equal to $30
million in total contract value.
5. IT Services Operating Margin refers to Segment Results Total as
reflected in IFRS financials.
Highlights of Strategic Deal Wins
In the first quarter, Wipro continued to win large and strategic deals across industries. Key highlights include:
1. A global chemicals company has selected Wipro for a multi-year deal to
modernize its IT operations. As part of the engagement, Wipro will use
its consulting-led approach to consolidate multiple vendors into a single,
integrated operating model and manage infrastructure and application
services end-to-end. Powered by Wipro Intelligence$(TM)$, the solution will
embed digital agents, AIOps and GenAI-enabled capabilities to increase
automation, prevent issues, and improve resolution times. This will help
the client deliver structural cost optimization, enhance service
stability, increase transparency, and build a scalable, future-ready IT
operating model.
2. One of the world's largest global technology companies has renewed its
multi-year engagement with Wipro to innovate in the arena of Geospatial
Data Operations and mapping. Wipro will provide end-to-end support for
the Geospatial Data Operations ecosystem, through a scalable, AI-powered
global delivery model. Leveraging AI-enabled automation, analytics, and
data-driven insights, through a robust governance framework, Wipro will
drive operational resilience, improve quality, and accelerate product
deployment for the client. Wipro will enable the client to maximize
productivity and enhance decision making in an evolving business
environment.
3. A leading global technology provider has expanded its decades-long
engagement with Wipro to enhance the quality and reliability of its
products that support millions of users worldwide. Wipro will deliver
AI-infused quality engineering services, leveraging automation and
intelligent testing capabilities, to accelerate development cycles. The
engagement builds on Wipro's deep domain expertise and longstanding role
in supporting the client's engineering ecosystem. This collaboration will
help reduce time to market, improve operational efficiency, and
strengthen the reliability of critical software releases.
4. A leading US-based health insurer has extended and expanded its
long-standing engagement with Wipro to enhance digital workplace and
end-user support services across its enterprise. Wipro will deploy a
unified operating model designed to ensure business continuity and
operational efficiency. Leveraging automation and AI-infused capabilities,
Wipro will further enhance service delivery, improve responsiveness, and
enhance employee technology experience. This renewal will help the client
maintain reliable, scalable workplace operations while supporting future
modernization initiatives and productivity improvements.
5. A leading US-based hospital network has selected Wipro to provide
integrated application management and enterprise IT transformation. Wipro
will deliver a comprehensive managed services model spanning operational
support, governance, and security, enabling the client to improve
operational efficiency, service reliability, and accelerate continuous
innovation. Leveraging its AI-delivery platforms, WINGS and WEGA, Wipro
will establish a strategic AI and Agentic AI roadmap aligned to the
client's business objectives, to drive intelligent automation, improved
workforce productivity, and measurable business outcomes.
6. A global US-based specialty Chemicals company has expanded its
relationship with Wipro to lead an AI-first transformation of its
business and technology landscape. Under the new agreement, Wipro will
provide end-to-end support for the client's global Enterprise
applications, as well as business processes. Wipro will deploy its
proprietary WINGS AI platform to introduce a unified operating model,
aimed at simplifying and optimizing operations. AI will be the
cornerstone of the program, driving intelligent automation, and enabling
smarter, data-driven decision-making across all workflows. This
transformation will unlock significant efficiencies, reduce complexity,
and accelerate value for the client - further reinforcing the
long-standing engagement between the two companies.
7. A leading Australian health and community services provider has
selected Wipro to modernize its technology landscape and improve
reliability and performance of services that support frontline care and
community operations. Through a consulting-led engagement, Wipro will
take end-to-end ownership of the client's IT services, bringing
applications, cloud, networks, and workplace support into a more
integrated and accountable delivery model. The engagement will also embed
intelligent automation and proactive monitoring to improve issue
resolution, strengthen service quality, and create a simpler, more
seamless technology experience for employees. This transformation will
help the client enhance operational resilience, improve user experience,
optimize costs, and build a more scalable, future-ready model for
continuous innovation.
8. A leading insurer in Australia and New Zealand has renewed and expanded
its strategic partnership with Wipro through a multi-year outcome-based
engagement to transform and manage its core insurance application
landscape. Through a consulting-led and AI-powered delivery model, Wipro
will drive AI-led intelligent automation, operational efficiency, and
continuous cost optimization across policy, claims, and customer
communications platforms. The engagement also establishes a co-innovation
framework and AI capability program designed to enhance business agility,
strengthen resilience, and accelerate long-term digital transformation.
9. One of the world's largest designer and supplier of apparel selected
Wipro as the primary partner for supply chain and planning tech to
support end-to-end Warehouse Management System $(WMS)$ operations as part
of a broader enterprise transformation program. Wipro will now power its
global distribution center $(DC)$ operations across both B2B and B2C
channels. Leveraging its deep consulting expertise in Supply Chain Domain
and Execution, Wipro will help the client streamline warehouse management
and distribution operations. This engagement will enable a more efficient
and scalable operating environment for the client driving improved
efficiency, reduced complexity, and cost optimization across the client's
supply chain.
10. A leading global energy company has engaged Capco, a Wipro company, to
strengthen its engineering, planning, and business management
capabilities across critical offshore operations. Capco will provide
specialized expertise to support core engineering and operational
functions, working closely with stakeholders to streamline execution and
enhance management effectiveness. This engagement will improve
operational efficiency, strengthen performance visibility and governance,
and enable more informed decision-making across one of the client's most
strategic operating environments.
11. A leading US housing finance institution has engaged Capco, a Wipro
company, to support a large-scale data modernization program to simplify
access to trusted business data, while reducing reliance on legacy
platforms. Leveraging its decades-long relationship with the client,
Capco will help address the complexity of managing a multi-year
transition across systems, stakeholders, and regulatory requirements
while ensuring continuity of critical reporting and operations. Capco
will lead program execution, coordinate stakeholders, and support data
operations, transition planning, and business adoption to enable a more
streamlined and modern data environment. This engagement will help
improve data accessibility, reduce operational complexity and risk, and
create a scalable foundation for more efficient and informed
decision-making.
12. A leading global technology enterprise has selected Wipro for a
strategic AI-first modern delivery model to accelerate digital
modernization. This enterprise-wide program will transform the software
development lifecycle across core enterprise packaged platforms.
Leveraging WEGA -- part of Wipro Intelligence(TM) -- this initiative will
embed generative and agentic AI into the software development lifecycle
to streamline processes, enhance developer productivity, and accelerate
digital transformation across commerce, supply chain, payments, and
enterprise integration functions. This AI-native model will enable
predictable transformation while boosting productivity, enhancing quality,
and shortening time to market.
Analyst Recognition
1. Wipro was ranked as a Leader in ISG Provider Lens$(R)$ - Semiconductor Industry Services and Solutions 2026 - US, Europe (all quadrants) 2. Wipro was recognized as a Leader in Avasant's Airlines and Airports Digital Services 2026 RadarView(TM) 3. Wipro was featured as a Leader in Avasant's Banking Digital Services 2026 RadarView(TM) 4. Wipro was positioned as a Leader in Avasant's High-Tech Digital Services 2026 RadarView(TM) 5. Wipro was recognized as a Leader in Everest Group's Healthcare Payer Digital Services PEAK Matrix(R) Assessment 2026 6. Wipro was positioned as a Leader in Everest Group's Google Cloud Services PEAK Matrix(R) Assessment 2026 7. Wipro was ranked as a Leader in Everest Group's Oracle Cloud Applications Services PEAK Matrix(R) Assessment 2026 8. Wipro was recognized as a Horizon 3 -- Market Leader in the HFS Horizons: SAP S/4HANA Transformation Services, 2026 report 9. Wipro was featured as a Leader in ISG Provider Lens(R) - Global Capability Center $(GCC)$ Services 2026 - Optimization and Enhancement - Global 10. Wipro was recognized as a Leader in ISG Provider Lens(R) - Digital Engineering Services - US, Europe (all quadrants) 11. Wipro was ranked as a Leader in ISG Provider Lens(R) - Life Sciences Digital Services 2026 - Global (all quadrants) 12. Wipro was ranked as a Leader in Avasant's Supply Chain Operations Business Process Transformation 2026 RadarView(TM)
IT Products
1. IT Products segment revenue for the quarter was Rs 1.0 billion ($10.9
million1)
2. IT Products segment results for the quarter were Rs 0.02 billion ($0.2
million1)
Please refer to the table at the end for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis.
About Key Metrics and Non-GAAP Financial Measures
This press release contains key metrics and non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical or future performance, financial position or cash flows that are adjusted to exclude or include amounts that are excluded or included, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS.
The table at the end provides IT Services Revenue on a constant currency basis, which is a non-GAAP financial measure that is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior reporting period. We refer to growth rates in constant currency so that business results may be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Further, in the normal course of business, we may divest a portion of our business which may not be strategic. We refer to the growth rates in both reported and constant currency adjusting for such divestments in order to represent the comparable growth rates.
Our key metrics and non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, the most directly comparable financial measure calculated in accordance with IFRS and may be different from non-GAAP measures used by other companies. Our key metrics and non-GAAP financial measures are not comparable to, nor should be substituted for, an analysis of our revenue over time and involve estimates and judgments. In addition to our non-GAAP measures, the financial statements prepared in accordance with IFRS and the reconciliation of these non-GAAP financial measures with the most directly comparable IFRS financial measure should be carefully evaluated.
Results for the Quarter ended June 30, 2026, prepared under IFRS, along with individual business segment reports, are available in the Investors section of our website www.wipro.com/investors/
Quarterly Conference Call
We will hold an earnings conference call today at 07:00 p.m. Indian Standard Time (9:30 a.m. U.S. Eastern Time) to discuss our performance for the quarter. The audio from the conference call will be available online through a webcast and can be accessed at the following link-https://event.choruscall.com/mediaframe/webcast.html?webcastid=dwiGwjsR
An audio recording of the management discussions and the question-and-answer session will be available online and will be accessible in the Investor Relations section of our website at www.wipro.com
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading AI-powered technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs. Leveraging our consulting-led approach and the Wipro Intelligence(TM) unified suite of AI-powered platforms, solutions and transformative offerings, we help clients realize their boldest ambitions to build intelligent and sustainable businesses. The Wipro Innovation Network -- part of the Wipro Intelligence(TM) suite -- underpins our commitment to client-centric co-innovation and co-creation by bringing together capabilities from the innovation labs and partner labs, academia, and global tech communities. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.
Forward-Looking Statements
The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, the benefits its customers experience and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.
Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Rs in millions, except share and per share data, unless otherwise
stated)
As at March 31,
2026 As at June 30, 2026
---------------- ---------------------------
Convenience
translation into
U.S. Dollar in
millions
(unaudited) at
the rate of Rs
94.66
---------------- --------- ----------------
ASSETS
Goodwill 387,399 404,360 4,272
Intangible assets 29,176 51,902 548
Property, plant
and equipment 81,787 81,359 859
Right-of-Use
assets 28,287 27,883 295
Financial
assets
Investments 28,053 29,181 308
Trade
receivables 349 348 4
Unbilled
receivables 7,433 8,806 93
Other
financial
assets 6,259 6,644 70
Investments
accounted for
using the equity
method 2,126 2,119 22
Deferred tax
assets 5,242 4,359 46
Contract assets - 160 2
Non-current tax
assets 7,787 7,617 80
Other non-current
assets 9,010 9,089 96
---------------- --------- ----------------
Total non-current
assets 592,908 633,827 6,695
---------------- --------- ----------------
Inventories 517 869 9
Financial
assets
Derivative
assets 888 1,925 20
Investments 437,680 307,281 3,246
Cash and cash
equivalents 105,555 88,444 934
Trade
receivables 135,901 132,708 1,402
Unbilled
receivables 76,823 79,504 840
Other
financial
assets 10,245 12,738 135
Contract assets 14,819 15,171 161
Current tax
assets 10,762 10,996 116
Other current
assets 33,164 33,630 355
---------------- --------- ----------------
Total current assets 826,354 683,266 7,218
---------------- --------- ----------------
TOTAL ASSETS 1,419,262 1,317,093 13,913
---------------- --------- ----------------
EQUITY
Share capital 20,977 19,807 209
Share premium 6,158 1,166 12
Retained earnings 735,057 626,854 6,622
Share-based
payment reserve 7,920 5,056 53
Special Economic
Zone
Re-investment
reserve 25,966 23,947 253
Other components
of equity 89,290 97,880 1,034
---------------- --------- ----------------
Equity attributable
to the equity
holders of the
Company 885,368 774,710 8,183
Non-controlling
interests 2,509 2,059 22
---------------- --------- ----------------
TOTAL EQUITY 887,877 776,769 8,205
---------------- --------- ----------------
LIABILITIES
Financial
liabilities
Loans and
borrowings 1,962 - -
Lease
liabilities 26,327 26,326 278
Accrued
expenses 4,394 4,320 46
Other
financial
liabilities 6,743 8,299 88
Deferred tax
liabilities 17,266 21,918 232
Non-current tax
liabilities 48,195 45,822 484
Other non-current
liabilities 23,042 24,832 262
Provisions 224 144 2
---------------- --------- ----------------
Total non-current
liabilities 128,153 131,661 1,392
---------------- --------- ----------------
Financial
liabilities
Loans,
borrowings
and bank
overdrafts 165,912 177,649 1,877
Lease
liabilities 8,709 8,847 93
Derivative
liabilities 10,978 4,645 49
Trade payables
and accrued
expenses 94,924 94,219 995
Other
financial
liabilities 11,357 4,305 45
Contract
liabilities 25,434 22,927 242
Current tax
liabilities 49,621 56,551 597
Other current
liabilities 34,801 38,300 405
Provisions 1,496 1,220 13
---------------- --------- ----------------
Total current
liabilities 403,232 408,663 4,316
---------------- --------- ----------------
TOTAL LIABILITIES 531,385 540,324 5,708
---------------- --------- ----------------
TOTAL EQUITY AND
LIABILITIES 1,419,262 1,317,093 13,913
---------------- --------- ----------------
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Rs in millions, except share and per share data, unless otherwise stated)
Three months ended June 30,
---------------------------------------------------
2025 2026 2026
--------------- --------------- -----------------
Convenience
translation into
U.S. Dollar in
millions
(unaudited) at
the rate of Rs
94.66
-------------- -------------- -----------------
Revenues 221,346 244,786 2,586
Cost of revenues (157,247) (174,900) (1,848)
-------------- -------------- --------------
Gross profit 64,099 69,886 738
Selling and
marketing
expenses (15,285) (16,496) (174)
General and
administrative
expenses (13,272) (14,963) (158)
Foreign exchange
gains/(losses),
net 182 779 8
-------------- -------------- --------------
Results from operating
activities 35,724 39,206 414
Finance expenses (3,608) (4,728) (50)
Finance and other
income 10,417 8,872 94
Share of net
profit/ (loss) of
associate and
joint venture
accounted for
using the equity
method 50 (5) ^
-------------- -------------- --------------
Profit before tax 42,583 43,345 458
Income tax expense (9,218) (9,782) (103)
-------------- -------------- --------------
Profit for the period 33,365 33,563 355
-------------- -------------- --------------
Profit attributable
to:
Equity holders of
the Company 33,304 33,520 355
Non-controlling
interests 61 43 ^
-------------- -------------- --------------
Profit for the period 33,365 33,563 355
-------------- -------------- --------------
Earnings per equity
share:
Attributable to
equity holders of
the Company
Basic 3.18 3.20 0.03
Diluted 3.17 3.20 0.03
Weighted average
number of equity
shares
used in computing
earnings per equity
share
Basic 10,472,085,808 10,459,341,744 10,459,341,744
Diluted 10,492,102,015 10,475,511,031 10,475,511,031
^ Value is less
than 0.5
---------------------- -------------- -------------- --------------
Information on reportable segments for the three months ended June 30, 2026, March 31, 2026, June 30, 2025, and year ended March 31, 2026 are as follows:
Particulars Three months ended Year ended
------------------------- ------------------------------- ------------
June March June March
30, 2026 31, 2026 30, 2025 31, 2026
------------------------- --------- --------- --------- ------------
Audited Audited Audited Audited
------------------------- --------- --------- --------- ------------
Segment revenue
IT Services
Americas 1 86,087 85,414 79,039 328,118
Americas 2 62,119 61,718 61,128 246,530
Europe 66,569 65,412 56,817 244,165
APMEA 29,754 27,623 23,816 102,340
-------- -------- -------- ---------
Total of IT Services 244,529 240,167 220,800 921,153
IT Products 1,036 2,521 728 6,940
------------------------- -------- -------- -------- ---------
Total segment revenue 245,565 242,688 221,528 928,093
------------------------- -------- -------- -------- ---------
Segment result
IT Services
Americas 1 16,691 18,089 16,316 69,852
Americas 2 9,874 10,150 12,063 46,182
Europe 9,047 10,092 6,026 31,083
APMEA 4,362 5,085 2,979 14,955
Unallocated (787) (1,899) 750 (3,426)
-------- -------- -------- ---------
Total of IT Services 39,187 41,517 38,134 158,646
IT Products 16 211 20 559
Reconciling Items 3 235 (2,430) (7,954)
------------------------- -------- -------- -------- ---------
Total segment result 39,206 41,963 35,724 151,251
------------------------- -------- -------- -------- ---------
Finance expenses (4,728) (3,701) (3,608) (14,577)
Finance and other income 8,872 8,387 10,417 36,491
Share of net profit/
(loss) of associate and
joint venture accounted
for using the equity
method (5) 27 50 257
------------------------- -------- -------- -------- ---------
Profit before tax 43,345 46,676 42,583 173,422
------------------------- -------- -------- -------- ---------
Additional Information:
The Company is organized into the following operating segments: IT Services and IT Products.
IT Services: The IT Services segment primarily consists of IT services offerings to customers organized by four Strategic Market Units ("SMUs") - Americas 1, Americas 2, Europe and Asia Pacific Middle East and Africa ("APMEA").
Americas 1 and Americas 2 are organized by industry sectors, while Europe and APMEA are organized by countries.
Americas 1 includes the following industry sectors in the United States of America, Latin America and Canada: Communication, Media and Networks, Technology Software and Gaming, Technology New Age, Health and Consumer. Americas 2 includes the following industry sectors in the United States of America, Latin America and Canada: Banking and Financial Services, Energy, Manufacturing and Resources and Capital Markets and Insurance. Europe consists of the United Kingdom and Ireland, Switzerland, Germany and Western Europe. APMEA consists of Australia and New Zealand, Southeast Asia, Japan, India, the Middle East, and Africa.
Effective April 1, 2026, the customers across Latin America and Canada are aligned with the respective industry sectors in Americas 1 and Americas 2. Additionally, Hi-tech sector and airports as a sub-sector for Americas are now subsumed under existing sectors of Americas 1.
Prior period comparables are readjusted to reflect this change.
Revenue from each customer is attributed to the respective SMUs based on the location of the customer's primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer's buying centers, but the total revenue related to these strategic global customers are attributed to a single SMU based on the geographical location of key decision makers.
IT Products: The Company is a value-added reseller of security, packaged and SaaS software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to these items is reported as revenue from the sale of IT Products.
Reconciliation of selected GAAP measures to Non-GAAP measures
1. Reconciliation of Non-GAAP Constant Currency IT Services Revenue to IT
Services Revenue as per IFRS ($Mn)
Three Months ended June 30, 2026
IT Services Revenue as per IFRS $2,614.5
Effect of Foreign currency exchange movement $ 4.6
-------
Non-GAAP Constant Currency IT Services Revenue
based on previous quarter exchange rates $2,619.1
--------------------------------------------------------------- -------
Three Months ended June 30, 2026
IT Services Revenue as per IFRS $2,614.5
Effect of Foreign currency exchange movement $ (4.0)
-------
Non-GAAP Constant Currency IT Services Revenue
based on exchange rates of comparable period in previous year $ 2610.5
--------------------------------------------------------------- -------
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