Shares of Wipro came under pressure in pre-market trading on Thursday, with its American Depositary Receipts (ADRs) declining nearly 1.5% after the company projected a potential degrowth in IT services revenue for the first quarter of the current financial year. The subdued outlook weighed on investor sentiment, reflecting concerns over near-term performance in the global IT services segment.

Wipro’s ADRs were trading at $2.24 apiece as of 8:23 am EST, down 1.32% compared to the previous session’s closing price. The decline followed the company’s guidance indicating that IT services revenue could contract by up to 2% sequentially for the April–June quarter, signalling a cautious start to the fiscal year.

The company expects revenue from its IT services business to be in the range of $2,597 million to $2,651 million for the quarter. This translates to a sequential growth guidance between -2.0% and 0%, suggesting limited momentum in its core business. Analysts noted that while the projections broadly align with expectations, they highlight ongoing challenges in sustaining growth in dollar-denominated revenues.

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The latest outlook also comes against the backdrop of a marginal decline in Wipro’s IT services revenue in FY26, which fell by around 0.3% in constant currency terms. The guidance underscores persistent demand uncertainties and cautious client spending, factors that continue to impact the performance of major IT firms operating in global markets.

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