Wipro Q2 Profit Dips 1.4% to ₹3,201 Crore; Revenue Rises 9%

Wipro Ltd reported a 1.4% year-on-year decline in consolidated net profit to ₹3,200.6 crore for the second quarter of FY27, ended September 30, 2026, against ₹3,246.2 crore a year earlier. The Bengaluru-based IT services company announced the results on Thursday, October 15.

Revenue from operations rose 9.1% to ₹24,752.7 crore from ₹22,697.3 crore in the year-ago quarter, according to the company’s IFRS results. Earnings per share stood at ₹3.23, up 4.2% from a year earlier.

IT services flat in constant currency

Revenue from the IT services segment came in at $2.612 billion. In constant-currency terms, the business grew 0.6% year-on-year and was unchanged from the previous quarter, reflecting continued caution in client technology spending.

The IT services operating margin was 16.5%, an improvement of 0.5 percentage point over the June quarter but 0.2 percentage point lower than a year ago. Operating cash flow was ₹5,305 crore, or 165.8% of net income, pointing to strong cash conversion.

Deal momentum weakened during the quarter. Total bookings stood at $2.595 billion, down 22.9% sequentially in constant currency, while large deal bookings fell 58.6% quarter-on-quarter to $674 million. The company said it won engagements across banking, healthcare, biotechnology, telecommunications and life sciences, including mandates for AI-enabled mortgage operations and supply chain intelligence.

Cautious outlook for December quarter

For the third quarter ending December 31, 2026, Wipro guided IT services revenue of $2.571 billion to $2.625 billion. This implies a sequential constant-currency change ranging from a 1.5% decline to 0.5% growth, a range that keeps the possibility of contraction on the table during a seasonally weak quarter marked by furloughs.

Chief Executive Officer and Managing Director Srini Pallia said the company’s investments are positioning it to pursue larger transformation opportunities. He added that artificial intelligence is expected to widen demand for technology and business services over time.

Market reaction and peer context

Wipro shares closed 1.84% higher at ₹174.05 on the NSE on October 15, ahead of the results announcement, compared with a previous close of ₹170.92.

The results come after larger peers reported stronger September-quarter numbers. Tata Consultancy Services posted a 15% rise in net profit, while HCLTech reported a 21% increase, highlighting the gap in growth momentum between Wipro and the top tier of Indian IT services providers.

The sharp fall in large deal bookings is likely to remain a focus for investors, since large contracts drive revenue visibility for the following quarters. A soft guidance band also suggests the company is not yet expecting a meaningful recovery in discretionary spending by clients in its key US and European markets.

What comes next

Investors will watch whether Wipro can convert its pipeline of AI-led transformation work into large deal wins in the second half of FY27. The stock’s reaction in Friday’s trade will offer the first market verdict on the quarter and the cautious December-quarter guidance.