Wipro Q2FY26 net profit grows 1.15% to ₹3,246 cr
Bengaluru: IT services major Wipro Ltd reported a marginal rise in consolidated net profit for the July–September quarter (Q2 FY26), as large deal wins helped offset a weak demand environment.
Net profit for the quarter stood at ₹3,246 crore, up 1.15 percent year-on-year (YoY) from ₹3,208.8 crore in the same period last year, but down 2.5 percent sequentially, according to a Business Standard report.
Revenue from operations increased 1.7 percent YoY to ₹22,697.3 crore, and nearly 2.5 percent quarter-on-quarter (QoQ).
Revenue from the company’s key IT services business stood at $2,604.3 million, aided by a few large deals closed during the quarter.
While the topline exceeded Bloomberg’s estimate of ₹22,688 crore, net profit fell short of the projected ₹3,278 crore.
On a constant currency basis—which excludes the impact of exchange rate fluctuations—revenue grew 0.3 percent sequentially but slipped 2.6 percent YoY.
For the October–December quarter, Wipro expects its IT services revenue to range between $2,591 million and $2,644 million, excluding contributions from the recent Harman Digital Transformation Solutions acquisition.
This implies a sequential growth of -0.5 percent to 1.5 percent, suggesting a cautiously optimistic outlook.
The company’s large deal bookings surged 90.5 percent YoY to $2.9 billion, while total deal bookings reached $4.7 billion. Large deals refer to contracts valued at $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.
Pallia identified three major opportunities shaping demand: vendor consolidation and cost optimisation, AI-led growth, and consulting-based advisory services. However, he cautioned that discretionary spending remains subdued, with most expansion concentrated around AI.
Sequential growth was largely driven by the banking, financial services and insurance (BFSI) vertical, which rose 2.6 percent in reported terms and 2.2 percent in constant currency. The technology and communications segment also grew 1 percent during the quarter.
“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 for FY25,” said Aparna Iyer, chief financial officer.
In the preceding quarter (April–June), Wipro had reported a 10.9 percent YoY increase in profit to ₹3,300 crore, though revenue was weighed down by muted demand amid global uncertainty.
As of September 30, Wipro’s total workforce stood at 235,492 employees. Attrition declined slightly to 14.9 percent, compared with 15.1 percent in the previous quarter.
The company onboarded 2,900 freshers and said future hiring would be based on project requirements.
Wipro also launched Wipro Intelligence, a suite of AI-driven platforms and solutions, underscoring its pivot toward automation and digital transformation.Wipro Q2FY26 net profit grows 1.15% to ₹3,246 cr
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