Wipro Q2 earnings: Net profit rises 1.2% annually to ₹3,246 crore; revenue rises 2% to ₹22,697 crore

Wipro, the country's fourth largest information technology (IT) by market capitalisation, on Thursday, October 16, reported net profit of ₹3,246 crore for the second quarter of current financial year, marking an annual increase of 1.17% from ₹3,209 crore in the same period last year.

On a sequential basis, however, Wipro's net profit declined 2.53% from ₹3,330 crore in the previous quarter.

Wipro's revenue from operations rose 2% annually to ₹22,697 crore from ₹22,302 crore in the same period last year.

Wipro expects its revenue from IT services business to be in range of $2,591 million to $2,644 million translating into sequential guidance of (-)0.5% to (+)1.5% in constant currency terms for December quarter.

Wipro reported that its IT services revenue stood at $2,604.3 million for the quarter ended September 2025 (Q2 FY26), reflecting a 0.7% sequential growth but a 2.1% decline year-on-year (YoY). In constant currency terms, revenue rose 0.3% QoQ and fell 2.6% YoY.

The company’s IT services operating margin came in at 16.7%, impacted by a provision of ₹116.5 crore related to the bankruptcy of a customer. Excluding this one-time impact, margins were at 17.2%, marking a contraction of 0.1% sequentially and an expansion of 0.4% on a yearly basis.

“Our revenue momentum is strengthening, with Europe and APMEA returning to growth, and our operating margins holding steady within a narrow band. Bookings surpassed $9.5 billion for H1 FY26. Our strategy is clear: remain resilient, adapt to global shifts, and lead with AI,” said Srini Pallia, CEO and Managing Director, Wipro.

The company highlighted that three of its four Strategic Market Units (SMUs) grew sequentially in Q2, indicating a gradual return to a growth trajectory. Large deal bookings in the first half of FY26 have already surpassed the total large deal bookings for the full FY25, highlighting strong deal momentum, Wipro said in a press release.

During the quarter, Wipro secured several significant multi-year engagements across key sectors and geographies. A leading European financial institution chose Wipro for infrastructure modernisation, including centralised cloud migration and data centre consolidation.

A European utility provider selected Wipro to deploy a Utilities CPQ (Configure, Price, Quote) solution to transform customer engagement and streamline quote-to-cash processes. A major US healthcare company expanded its decade-long partnership with Wipro for AI-driven modernization of health insurance platforms, large-scale cloud migration, and enhanced data protection.

Wipro shares ended 1.39% higher a ₹253.70 ahead of its earnings announcement.