The tech sector earnings have been among the most anticipated results this Q4. Recently, IT majors Wipro and Tata Consultancy Services (TCS) reported their earnings for the fourth quarter. Both companies came out with big announcements, including dividend payout, deal announcements and hiring outlook.
Here’s how Wipro and TCS stack up against each other after their Q4 results.
Wipro VS TCS: Q4 Revenue and Net Profit
Wipro, India’s fourth-largest IT services company, reported a 2% fall in its consolidated net profit at Rs 3,502 crore in the fourth quarter of the current financial year. The company’s board also approved a share buyback of Rs 15,000 crore along with its financial results.
On the other hand, revenue from operations, meanwhile, increased 8% year-on-year (YoY) to Rs 24,236 crore. On a constant currency basis, IT services revenue rose 0.2% sequentially but declined 0.2% annually. The company’s profit surged sequentially, up 12% quarter-on-quarter (QoQ). IT services operating margin came in at 17.3%, declining 0.3% sequentially and 0.2% YoY.
Tata Consultancy Services posted a 12% YoY growth in its consolidated net profit, which came in at Rs 13,718 crore in Q4FY26. Revenue from operations rose 10% YoY to Rs 70,698 crore. The company has also approved a final dividend of Rs 31 per share.
In the fourth quarter, annualised AI revenue crossed $2.3 billion in Q4FY26. TCS reported an operating margin of 25.3% in the fourth quarter of FY26, up 10 basis points QoQ. TCS closed FY26 with revenue of Rs 2.67 lakh crore, up 5% YoY.
Wipro VS TCS: FY27 revenue outlook
Wipro has guided for -2% to 0% sequential revenue growth in constant currency for the first quarter of FY27. This includes 80 basis points from the recently announced two strategic deals. “We had expected Wipro to guide for -1 to 1% quarter-on-quarter growth. Management attributed the guidance to client-specific issues (which it expects to end by the end of Q1) and delayed ramp-ups in certain deals won in the earlier quarters of FY26,” said Nomura.
TCS’s Trailing Twelve Months’ (TTM) deal wins were up 3.5% YoY. Based on the deal pipeline and recent deal wins, TCS believes the revenue growth in international markets would be higher in FY27 than in FY26. TCS noted that despite the uncertainty on rates, inflation and central bank actions, BFSI clients continue to prioritise core and legacy modernisation, data estate transformation and cloud migration.
However, TCS acknowledged that macro-economic headwinds continue to cloud the outlook, but said it sees sustained customer conviction in technology investments.
Wipro VS TCS: AI strategy
Wipro is making strategic investments to adapt to an AI-first world by launching a dedicated AI-Native business and platforms unit. This new AI-Native unit will have dedicated leadership and investments focused on accelerating enterprise-grade Agentic AI solutions and incubating AI-led businesses. Clients are actively investing in AI across data platforms, workflow automation, and security, with Capco serving a key role in AI advisory and consulting services.
TCS’s AI services showed strong momentum in Q4 FY26, with annualised revenue surpassing $2.3 billion, and management expects AI to be net-accretive to revenue growth. The company also noted that they are seeing a shift from AI experimentation to scaled deployment, with AI becoming a core part of customer conversations.
Wipro VS TCS: Deal wins remain steady
Wipro booked deals worth $3.5 billion, which was 13% lower YoY in Q4, including large deal wins of $1.4 billion, down 18% YoY. The company noted that the pipeline and deal wins remain mainly in the areas of vendor consolidation, cost take-out opportunities and a shift toward AI-led transformation.
“We think the timely ramp-up of these deals is critical for Wipro to improve its growth rates. We forecast USD revenue growth of 0.9% in FY27 and 4% in FY28,” said Nomura.
TCS’s TCV (total contract value) increased to $12 billion (North America: $5.4 billion). This comprises deals across BFSI, retail and other key segments. The TCV increased from $9.3 billion in Q3 FY26, with a book-to-bill of 1.57x and was aided by 3 mega deal signings.
BFSI: $3.9 billion
Retail: $2.8 billion
TCS’ clientele with revenue contribution of over $1 million in the last twelve months, increased to 1,397 as of end-March 2026.
Wipro VS TCS: Share price performance
The share price of Wipro has surged 1.4% in the last five trading days. The stock has given a return of 6.4% in the previous one month and has declined 15% in the last six months. Wipro’s share price has erased 14% over the previous 12 months.
Tata Consultancy Services’ share price has given a return of 4% in the last five trading sessions. The stock has increased 8% in the past one month and has dropped 13% in the last six months. TCS’s stock price has wiped out 22% of investors’ wealth in the past 12 months.
