Wipro, Tech Mahindra Q1 Results 2026 LIVE: IT stocks mixed ahead of key earnings

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Wipro, Tech Mahindra Q1 Results 2026 LIVE: IT stocks are in focus on Thursday, with two major IT companies set to announce their Q1 results today. Indian IT companies are expected to report muted June-quarter earnings amid volatile macroeconomic conditions, geopolitical tensions and rising pressure from clients to pass on AI-led productivity gains. These factors are likely to weigh on revenue growth for several companies.
Wipro, India’s fourth largest IT services company, and Tech Mahindra will declare their Q1 results 2026 today.
Here’s what to expect from Wipro and Tech Mahindra Q1 results.
Wipro is expected to report 1.5% QoQ dip in IT Services revenue, weighed down by delayed ramp-ups, weakness in a large client, and softer US BFSI segment.
Recurring IT Services EBIT margins are expected to dip 30 bps QoQ given balance wage hikes, investment and large deal ramp up cost which will be partly compensated by tailwinds from currency and cost efficiencies, according to brokerage firm Equirus Securities.
It expects Wipro to guide for dip of 2% to flat growth QoQ in IT Services’ US dollar sales in CC terms for Q2FY27. Order intake, especially for large deals, is expected to remain healthy given ongoing aggression in large deal pursuit by Wipro.
Tech Mahindra is expected to report 1% QoQ growth in revenue in CC terms, led by continued ramp-up of large telecom deals, while BFSI should remain healthy, analysts said.
Deal momentum is estimated to remain healthy. Hi-Tech segment may stay soft due to cautious discretionary spending, while Manufacturing is likely to remain stable despite weakness in US auto.
The company’s EBIT margin to improve 50 bps QoQ to 14.3%, supported by delivery efficiencies, gross margin improvement, and ongoing Project Fortius initiatives
Wipro shares and Tech Mahindra shares traded higher ahead of the Q1 results announcement today.
Stay tuned to this segment for the live updates on Wipro Q1 results and Tech Mahindra Q1 results.
Key things to look for in Tech Mahindra Q1 results include FY27 and beyond outlook for sales growth and margin, impact of ongoing geopolitical and macro concerns on the company and its clients, Telecom and Enterprise segment’s demand outlook, demand commentary related to 5G technology, new business TCV wins, deal pipeline and client decision making for same. Update on capital allocation policy, any further update on growth strategy will also be monitored.
In Wipro Q1 results, investors are expected to focus on AI strategy and the measures taken to offset AI deflation on the overall business, pricing pressure in renewal deals, timelines for catch up of growth with peers, GCC growth strategy and integration plans and synergies from recent acquisitions.
Tech Mahindra is expected to report 1% QoQ growth in revenue in CC terms, led by continued ramp-up of large telecom deals, while BFSI should remain healthy, analysts said. Deal momentum is estimated to remain healthy. Hi-Tech segment may stay soft due to cautious discretionary spending, while Manufacturing is likely to remain stable despite weakness in US auto.
Wipro is expected to report 1.5% QoQ dip in IT Services revenue, weighed down by delayed ramp-ups, weakness in a large client, and softer US BFSI segment.
Recurring IT Services EBIT margins are expected to dip 30 bps QoQ given balance wage hikes, investment and large deal ramp up cost which will be partly compensated by tailwinds from currency and cost efficiencies, according to brokerage firm Equirus Securities.
Tech Mahindra share price rallied over 2% ahead of the Q1 results today. The stock opened higher at ₹1,515.10 apiece as against its previous close of ₹1,498.65 on the BSE. Tech Mahindra shares gained as much as 2.62% to ₹1,538.00 apiece.
Wipro share price traded higher ahead of the announcement of Q1 results today. The IT stock opened higher at ₹176 apiece as against its previous close of ₹174.60 on BSE. Wipro shares gained as much as 1.94% to ₹178.00 apiece.
Indian IT companies are expected to report muted June-quarter earnings amid volatile macroeconomic conditions, geopolitical tensions and rising pressure from clients to pass on AI-led productivity gains. These factors are likely to weigh on revenue growth for several companies.
IT stocks are in focus on Thursday, with two major IT companies set to announce their Q1 results today. Wipro, India’s fourth largest IT services company, and Tech Mahindra will declare their Q1 results 2026 today.
Ankit Gohel is the Deputy Chief Content Producer at Livemint, specialising in financial markets, macroeconomics, and regulatory developments. With a strong focus on equity markets, primary issuances, and policy-driven market movements, he brings clarity to complex financial developments for investors and market participants. <br><br> With nine years of experience in business and financial journalism, Ankit’s approach is rooted in the belief that market reporting should go beyond headlines — connecting data, policy, and ground realities to deliver actionable insights. His work consistently bridges the gap between institutional analysis and investor understanding. <br><br> Ankit has spent three years at Livemint, where he currently helps drive market coverage, editorial strategy, and high-impact financial stories. Prior to this, he worked with leading business news networks such as CNBC-TV18, ET Now, TickerPlant News Service where he built deep expertise in stock market analysis, macroeconomic trends, primary markets, and coverage of key regulators including the RBI and SEBI. <br><br> Over the years, he has covered market cycles across bull and bear phases, IPO booms, liquidity shocks, and major policy shifts that reshaped investor sentiment. He has interviewed fund managers, corporate leaders, and policymakers, translating their perspectives into sharp, data-backed narratives. Ankit combines speed with accuracy — ensuring timely, credible, and insight-driven financial journalism that empowers both retail and institutional audiences.
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