Wipro reported a marginal decline in its March quarter profit even as revenue grew, with the IT major flagging a challenging global environment and cautious near-term outlook.The company posted a consolidated net profit of Rs 3,501.8 crore for Q4 FY26, down 1.89 per cent from Rs 3,569.6 crore a year ago, according to PTI.The dip comes amid what Wipro CEO and MD Srini Pallia described as a “new normal” shaped by geopolitical and policy disruptions, although he noted that overall IT spending has remained resilient.Wipro’s board has also approved a Rs 15,000 crore share buyback programme, proposing to repurchase over 5 per cent equity, or up to 60 crore shares, at Rs 250 per share.The buyback price reflects a premium of about 18 per cent over Thursday’s closing price of Rs 210.20 on the BSE.The Bengaluru-headquartered firm’s revenue rose 7.6 per cent year-on-year to Rs 24,236.3 crore in Q4 FY26, compared with Rs 22,504.2 crore in Q4 FY25.On a sequential basis, profit and revenue increased by 12.2 per cent and 2.8 per cent, respectively.The IT Services segment reported revenue of USD 2,651 million in the quarter, up 0.6 per cent sequentially and 2.1 per cent year-on-year.For the quarter ending June 30, 2026, Wipro expects IT Services revenue in the range of USD 2,597-2,651 million, implying a sequential growth guidance of (-) 2.0 per cent to 0 per cent in constant currency terms.Addressing the muted guidance, Pallia attributed it to a specific client issue in the Americas and delays in deal ramp-ups, adding that Q1 has traditionally been a weaker quarter due to seasonality.For FY26, Wipro reported a net profit of Rs 13,197.4 crore, up 0.47 per cent from Rs 13,135.4 crore in FY25, while revenue grew 3.96 per cent to Rs 92,624 crore.“Geopolitical and policy disruptions have become the new normal…Trade rules are changing, tighter immigration policies and of course, conflicts continue to create uncertainties for industries and economies. Despite these headwinds, IT spending has shown resilience. Cloud, data and AI continue to attract investments as they provide the infrastructure for future growth.Our client priorities are shifting with spending decisions increasingly tied to outcomes. In fact, many of our client contracts are becoming modular, milestone-driven and governed by value checkpoints,” Pallia said.Total bookings for the quarter stood at USD 3,455 million, up 3.2 per cent quarter-on-quarter in constant currency, while large deal bookings surged 65.1 per cent sequentially to USD 1,440 million.Despite the macro headwinds, Pallia said deal pipeline momentum remains strong, driven by vendor consolidation, cost management and AI adoption.During the quarter, Wipro announced two acquisitions –a definitive agreement to acquire Mindsprint (Olam Group’s IT services arm) for USD 375 million, and another deal to acquire select customer contracts of Alpha Net Consulting for USD 70.8 million.The company’s total headcount stood at 2,42,156 at the end of FY26, compared with 2,33,346 employees in FY25.Chief Human Resources Officer Saurabh Govil said Wipro hired 7,500 freshers in FY26, including over 3,000 in Q4, but did not provide hiring guidance for the next fiscal year due to demand uncertainty.The interim dividend of Rs 11 declared in July 2025 and January 2026 will be treated as the final dividend for FY26, the company said.Shares of Wipro ended 0.19 per cent higher at Rs 210.20 on the BSE on Thursday. The results were announced after market hours.