Wipro warns tariff hikes, immigration curbs, trade war may hit growth

Wipro said it derives over 62 per cent of its revenue from US clients and around 27 per cent from Europe

Indian IT major Wipro has flagged rising global trade barriers and tightening immigration norms as potential threats to its business, warning that regulatory and geopolitical uncertainties in its key markets could weigh on future growth.

 

In its annual report for FY2024–25, the Bengaluru-headquartered company cited “escalations in tariffs and trade policies of certain countries with large economies” and possible changes to immigration laws in the United States—its largest revenue market—as key concerns.

 

Wipro said it derives over 62 per cent of its revenue from US clients and about 27 per cent from Europe. “If the economy in the Americas (including the United States) or Europe is volatile or uncertain, or if conditions in the global financial markets deteriorate, pricing for our services may become less attractive,” the report noted.

 

 

Trade policy worries

 

Despite reporting an 18.9 per cent rise in net profit to ₹13,135.4 crore for FY25, the company said it anticipates revenue pressure in the near term. For Q1 FY26, Wipro has guided for a sequential revenue decline of 1.5 to 3.5 per cent in constant currency terms.

 

The company said that heightened protectionism, trade wars, and tariff escalations could impact global trade volumes and dampen client technology spending. “Extreme protectionism, the imposition of tariffs, and trade wars may also result in weaker global trade and economic activity,” the report stated.

 

Immigration risks flagged

 

Wipro also raised concerns over immigration policy changes in the US and other jurisdictions where it operates. “Restrictive changes to immigration laws... may limit outsourcing work, hamper our growth, and cause our revenue to decline,” the company warned.

 

To mitigate risks, Wipro said it maintains a strong pipeline of employees with valid non-immigrant visas and has increased local hiring in the US.

 

Wipro currently employs 2,33,346 people globally.

 

Q4 FY25 results

 

For the quarter ended March 31, 2025 (Q4 FY25), Wipro reported a 25.9 per cent year-on-year rise in consolidated net profit at ₹3,569.6 crore, compared to ₹2,834.6 crore in the same period last year.

 

Revenue from operations rose 1.3 per cent to ₹22,504.2 crore, up from ₹22,208.3 crore in Q4 FY24.