Wipro stock to be in focus on Friday on securing multi-year 'smart grid' deal from Saudi Electric company
'We are excited to build a long-standing relationship with National Grid SA and are dedicated to assisting them in navigating the evolving energy landscape,' said Vinay Firake, CEO – Asia Pacific, India, Middle East & Africa (APMEA), Wipro Limited. 'With our deep domain expertise in the energy sector, smart solutions, and advanced technological capabilities, we are proud to contribute to projects that are essential to the Kingdom's Vision 2030 and help the Kingdom realize its innovation and digitalization ambitions.'
The company will design, develop, implement, and support the infrastructure and smart applications for the new MDM system. 'Through continuous monitoring, the system will improve grid stability by providing real-time data on power flow, voltage, and equipment status. Wipro will enable National Grid SA to improve its grid planning through intelligent forecasting and reporting,' the company said in its regulatory filing today.
The intelligent integrations will support proactive maintenance, faster fault identification, and enhanced visibility into energy usage patterns. This will allow National Grid SA to optimize power dispatch, reduce operational costs, and minimize outages—leading to improved experiences for end users.
Last week, the company reported a consolidated net profit of ₹ 3,336 crore in Q1FY26, marking a 7% QoQ decline but a 10% YoY increase, beating analysts' projections of ₹ 3,268 crore. Revenue from operations came in at ₹ 22,134 crore, up from ₹ 21,964 crore in Q1FY25, also exceeding the Street's estimate of ₹ 21,829 crore.
Despite continued softness in Europe and weak discretionary spending, the IT major reported total bookings (Total Contract Value or TCV) of $4,971 million, a sequential improvement from $3,955 million in the previous quarter. On a YoY basis, bookings rose from $3,284 million in the same quarter last year.
Large deal TCV stood at $2,666 million, up sharply from $1,154 million in both the March quarter and the year-ago period. Against this backdrop, the company expects revenue from its IT Services business to be in the range of $2,560 million to $2,612 million in Q2FY26, implying sequential growth of -1.0% to 1.0% in constant currency terms.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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