Wipro Q1 Earnings: SEBI RA Rajneesh Sharma Flags Key Support At ₹229

The analyst highlighted margin discipline, strong cash flows, and $2.7 billion in large deal wins as key positives in Wipro’s Q1.

Wipro shares reversed early losses to trade 2% higher in afternoon trade on Friday, after its first-quarter (Q1) results reflected a mix of margin strength and ongoing revenue pressure. 

The company’s Q1 revenue declined 2.3% year-on-year in constant currency to ₹22,134 crore ($2.58 billion), while net income rose 10.9% to ₹3,336 crore. 

Earnings per share (EPS) came in at ₹3.2, and operating margin expanded 80 basis points to 17.3%. 

Operating cash flow stood at ₹4,112 crore, or 123.2% of net income.

SEBI-registered analyst Rajneesh Sharma shared a detailed breakdown of the earnings, deal wins, management commentary, and technical outlook.

The analyst highlighted Wipro’s emphasis on AI adoption as central to Wipro’s strategy and noted that over $1.3 billion was returned to shareholders in the past six months. 

Sharma pointed to 16 large deals worth $2.7 billion, up 131% year-on-year, including contracts in OS engineering, retail digitization, and AI-based cybersecurity.

Sharma said the company’s second-quarter (Q2) revenue is guided between $2.56 billion and $2.61 billion, implying a 1% to 1% growth in constant currency quarter-over-quarter, with macro and client budget challenges still present.

On the technical setup, Sharma identified ₹273.80 as key resistance, with the stock facing multiple rejections at that level. 

He pegged support around ₹229, where an ascending channel and trendline converge. The stock remains range-bound with higher lows, neutral relative strength index (RSI), and low volume. 

A breakout above ₹275 or breakdown below ₹229 could define the Q3 trend, Sharma said.

On Stocktwits, retail sentiment was ‘bullish’ amid ‘high’ message volume.

Wipro’s stock has declined 11.4% so far in 2025.

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