Wipro507685Quarterly results

Q2 results: gross revenue up 9.1% YoY, operating margin 16.5%, large deal bookings down 58.6% QoQ

Wipro reported Q2 FY27 gross revenue of ₹247.5 billion, up 9.1% YoY, with IT services operating margin at 16.5%, up 0.5% QoQ.

By ScoutQuest · Thu 15 Oct 2026, 3:55 PM IST · 3 min read

Gross revenue: ₹247.5 billion, up 9.1% YoY
IT services operating margin: 16.5%, up 0.5% QoQ
Total bookings: $2,595 million fell 22.9% QoQ

Quarter ended September 30, 2026

Wipro announced its financial results under IFRS for the quarter and half year ended September 30, 2026.

Revenue and growth

Gross revenue at ₹247.5 billion ($2,583.0 million), an increase of 1.1% QoQ and 9.1% YoY.
IT services segment revenue was at $2611.5 million, a decrease of 0.1% QoQ and an increase of 0.3% YoY.
Non-GAAP constant currency IT services segment revenue was flat sequentially and increased 0.6% YoY.

Profitability

IT services operating margin was 16.5%, up 0.5% QoQ and down 0.2% YoY.
Net income for the quarter was ₹32.0 billion ($333.9 million), a decrease of 4.7% QoQ and 1.9% YoY.
Earnings per share was ₹3.23 ($0.03), an increase of 0.9% QoQ and 4.2% YoY.

Bookings and cash

Total Bookings were $2,595 million, down 22.9% QoQ in constant currency.
Large deal bookings were $674 million, down 58.6% QoQ in constant currency.
Operating cash flow was ₹53.0 billion ($553.6 million), up 61.3% QoQ and at 165.8% of net income.
Voluntary attrition was 13.8% on a trailing 12-month basis.

The CEO said the strategic investments being made are beginning to deliver results and that AI is seen as a long-term growth driver; the CFO said the 16.5% operating margin was an expansion of 0.5% sequentially.

Outlook for the quarter ending December 31, 2026

IT services revenue is expected in the range of $2,571 million to $2,625 million, which translates to sequential guidance of (-)1.5% to (+)0.5% in constant currency. The outlook is based on exchange rates of GBP/USD at 1.35, Euro/USD at 1.15, AUD/USD at 0.71, USD/INR at 95.76 and CAD/USD at 0.72.

Segment view

IT Services segment revenue was ₹246,670 million for the three months ended September 30, 2026, against ₹244,529 million for the three months ended June 30, 2026.
IT Products segment revenue was ₹1,512 million, with a segment result of (-) ₹72 million for the quarter.
IT Products segment revenue for the quarter was ₹1.5 billion ($15.8 million) and IT Products segment results were (-) ₹0.1 billion ((-) $0.8 million).

Deal wins and recognitions

The release highlights large and strategic deal wins, including with a large US-based banking institution for its lending platform NetOxygen, a global technology company, a US-based health insurance provider, a global biotechnology company, an Asia-based Fortune 500 conglomerate, a global network technology provider, a North American public services organisation, a global beverages leader, a Europe-based industrial products provider, a global life sciences company, a Middle East energy company and a North American financial services institution.
It also lists analyst recognitions including Leader positions in IDC MarketScape assessments, ISG Provider Lens, Avasant RadarView and Everest Group PEAK Matrix assessments.

How to read this

The release shows revenue growth in reported terms alongside a flat to marginally higher constant currency IT services trend, a sequentially higher operating margin, and cash flow well above net income. It also shows total and large deal bookings lower than the prior quarter in constant currency terms.

Also from Wipro

Q2 results: gross revenue up 9.1% YoY, operating margin 16.5%, large deal bookings down 58.6% QoQ

Revenue and growth

Profitability

Bookings and cash

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Q2 FY27 call: IT services revenue $2.61 billion, $2.6 billion deal wins, Q3 guidance minus 1.5% to plus 0.5%