Wipro Q3 earnings: Net profit declines 7% to ₹3,119 crore, revenue rises 5.5%, company declares dividend of ₹6/share

Wipro, the country's leading software services company, on Friday, January 16, reported net profit of ₹3,119 crore in the third quarter of current financial year, marking a decline of 7% annually from ₹3,354 crore in the same period last year.

On a sequential basis its net profit declined 4% from ₹3,246 crore in the previous quarter. The decline in the profit came on account of implementation of new labour codes.

Wipro's revenue from operations, however, advanced 5.5% annually to ₹23,556 crore in October-December period from ₹22,319 crore in the year-ago period. In dollar terms its revenue came in at $2,634.5 million, up 1.2% on a sequential basis. In constant currency terms revenue rose 1.4% sequentially but declined 1.2% annually.

The company has raised its revenue growth guidance for the current financial year to 0%-2% from its guidance -0.5%-1.5% in the previous quarter.

"We expect revenue from our IT Services business segment to be in the range of $2,635 million to $2,688 million*. This translates to sequential guidance of 0% to 2.0% in constant currency terms," Wipro said in a press release.

The company's board declared an interim dividend of ₹6 per share which will take the total payout for the year to $1.3 billion.

“In Q3, we delivered broad-based growth in line with our expectations. As AI becomes a strategic imperative, Wipro Intelligence is emerging as a differentiator and contributed to several wins this quarter. We saw greater adoption of our AI-enabled platforms and solutions, scaled AI-led delivery through WINGS and WEGA, and expanded our innovation network across global locations,” said Srini Pallia, CEO and Managing Director.

Wipro Q3 deal wins

During the quarter a global technology leader has renewed its decade-long relationship with Wipro to advance trust and safety operations across its platforms. With thousands of specialists deployed worldwide, Wipro will continue to refine and train AI and machine learning models to align with the client’s content policies.

Wipro renewed and expanded its decade-long strategic partnership with a US-based national health insurance organization. Through the multi-year engagement, Wipro will continue to provide comprehensive member enrolment and management services, ensuring that senior citizens and children can seamlessly enrol and access healthcare benefits. Wipro leverages its proprietary PayerAI solution, part of Wipro IntelligenceTM, to offer a scalable, AI-infused SaaS platform that features intelligent automation, agentic AI capabilities, and highly configurable workflows. This engagement will significantly boost productivity, enhance operational agility, and unlock cost efficiencies for the client.

A prominent North American household furnishings manufacturer has selected Wipro to modernize its technology landscape and accelerate innovation across its enterprise applications. This multi-year engagement focuses on driving automation and embedding AI at scale. The Wipro team will leverage AI accelerators to deliver predictive insights, automate workflows, and enhance user experience. Additionally, Wipro will help set up a Center of Excellence to fast-track AI adoption and unlock new business value. These initiatives will also enable the client to modernize legacy systems and improve business agility to drive operational excellence and support future growth.

One of India's top banking and financial services institutions has selected Wipro for a multiyear engagement to accelerate its digital transformation and strengthen its technology foundation. Wipro will modernize core IT operations, manage critical banking systems, and deliver a secure, cloud-enabled infrastructure to enhance operational resilience and customer experience.

Wipro shares ended 2.54% higher at ₹266.80 ahead of its earnings announcement.