Wipro Q2 net profit up 1%, revenue rises 1.7% on large deal wins

Bengaluru-based information technology (IT) services major Wipro reported a marginal rise in net profit for the July–September quarter (Q2) of 2025–26 (FY26). Net profit for the quarter stood at ₹3,246 crore, up 1.15 per cent compared to ₹3,208.8 crore in the same quarter last year. On a sequential basis, profit declined 2.5 per cent.

 

The company’s revenue from operations rose to ₹22,697.3 crore, up 1.7 per cent year-on-year (Y-o-Y) and nearly 2.5 per cent sequentially. Revenues from the IT services segment were $2,604.3 million, aided by a few large deals closed during the quarter.

 

According to Bloomberg estimates, Wipro’s Q2 revenue beat expectations but net profit fell short. Bloomberg had projected revenue of ₹22,688 crore and net profit of ₹3,278 crore. On a constant currency basis — which excludes the impact of currency fluctuations over which companies have no control — Wipro’s revenue grew 0.3 per cent sequentially but declined 2.6 per cent Y-o-Y.

 

For the October–December quarter, India’s fourth-largest IT services firm expects revenue from its IT services segment to range between $2,591 million and $2,644 million, excluding expected contributions from the recent acquisition of Harman Digital Transformation Solutions. This represents a sequential growth of minus 0.5 per cent to 1.5 per cent.

 

In Q2, Wipro’s large deal bookings stood at $2.9 billion, marking a 90.5 per cent Y-o-Y rise, while total deal bookings reached $4.7 billion. Large deals are defined as contracts with a total value of $30 million or more.

 

“Our revenue momentum is strengthening, with Europe and APMEA (Asia Pacific, Middle East, and Africa) returning to growth, and our operating margins holding steady within a narrow band. Bookings surpassed $9.5 billion for the first half of FY26. Our strategy is clear: remain resilient, adapt to global shifts, and lead with artificial intelligence (AI),” said Srini Pallia, chief executive officer and managing director of Wipro.

 

In the demand environment, Pallia observed three emerging opportunities: vendor consolidation and cost optimisation, new demand driven by AI, and consulting-led advisory services. However, discretionary spending remains under pressure, with most growth concentrated in the AI space.

 

Sequential growth was driven by the banking, financial services and insurance segment, which rose 2.6 per cent in reported terms and 2.2 per cent on a constant currency basis. The technology and communications segment grew 1 per cent.

 

“We are gradually returning to a growth trajectory, with three of our four strategic market units growing sequentially in Q2. All key financial parameters remain strong. Our large deal bookings in the first two quarters have now surpassed the total large deal bookings for 2024-25,” said Aparna Iyer, chief financial officer of Wipro.

 

In the April–June quarter, Wipro had reported a 10.9 per cent Y-o-Y rise in net profit to ₹3,300 crore. At the time, Pallia attributed the revenue dip to a muted quarter amid macroeconomic uncertainty.

 

For the quarter ended September 30, Wipro reported a total workforce of 235,492 employees. Attrition was 14.9 per cent, slightly lower than 15.1 per cent in the preceding quarter.

 

The company onboarded 2,900 freshers during the quarter and said future hiring would be demand-driven.

 

Wipro also announced Wipro Intelligence, a unified suite of AI-powered platforms and solutions.