Wipro, Jio Financial among firms reporting Q1 results today

Several major companies, including Wipro and Jio Financial Services, are set to announce their financial results for the first quarter of fiscal year 2027 on Thursday, July 16, 2026. This follows a period of heightened earnings activity, with around 40 companies expected to report their earnings today, according to a report from Livemint.

Earnings Expectations

Brokerage firm Axis Direct forecasts Wipro's revenue growth at 1% quarter-over-quarter, citing challenges such as delayed deal ramp-ups and client-specific issues. However, this may be partially offset by contributions from the Harman acquisition. The firm also anticipates a decline in EBIT margins by 84 basis points due to wage hikes and increased investments in artificial intelligence. Key areas to watch include the outlook on European business, new deal wins, and management guidance for the fiscal year.

Tech Mahindra is also expected to report a revenue growth of 2.4% quarter-over-quarter, driven by a large telecom deal and stable demand from the banking, financial services, and insurance (BFSI) and manufacturing sectors. The firm projects that EBIT margins will remain flat, as higher investments will be counterbalanced by cost optimization initiatives and favorable currency movements. Important factors to monitor include vertical-wise commentary for FY27, multi-year deal wins, and investments in AI adoption.

Market Context

On Wednesday, Indian benchmark indices closed slightly higher, with the BSE Sensex rising by 130.49 points, or 0.17%, to finish at 77,185.43, while the Nifty 50 added 26.45 points, or 0.11%, to end at 24,078.50. This uptick was attributed to favorable global cues and selective buying in key sectors.