Results reported 15 October 2026 | IT services | Consolidated
The Quick Take
Wipro’s Q2 FY27 revenue rose 9.1% year on year to Rs 24,752.7 cr, but net profit fell 1.4% to Rs 3,200.6 cr. In dollar terms IT services revenue was flat year on year. The Q3 guide is for -1.5% to +0.5% in constant currency, and large-deal bookings fell 59% quarter on quarter.
Q2 FY27 snapshot (consolidated, Rs crore unless noted)
| Metric | Q2 FY27 | Comparison |
|---|---|---|
| Revenue from operations | 24,752.7 | +9.1% YoY; +1.1% QoQ |
| Net profit | 3,200.6 | -1.4% YoY; -4.5% QoQ |
| IT services revenue | $2,611.5M | +0.3% YoY (flat in constant currency) |
| IT services operating margin | 16.5% | Q1: 16.0% |
| EPS | Rs 3.23 | +4.2% YoY |
| Total bookings | $2,595M | -22.9% QoQ in constant currency |
| Large-deal bookings | $674M | -58.6% QoQ in constant currency |
Guidance
- Q3 FY27 IT services revenue guided at $2,571 to 2,625M, or -1.5% to +0.5% in constant currency, mainly because of furloughs and fewer working days.
- The CFO wants to return to the 17 to 17.5% margin band as quickly as possible, with no timeline.
- No full-year guidance; Wipro guides quarterly.
Cash and other income
Gross cash of $4.6 billion at 30 September. Net other income fell 68% QoQ after a buyback completed in June.
Initiatives
An AI-native unit launched in April, with more than 2,000 engineers, and five AI themes. Consulting-led inorganic moves include HARMAN DTS and MindSprint.
Risks
- US healthcare softness.
- Deal-signing slippage.
- Margins below the target band.
- AI productivity affecting hiring.
Setup
Neutral. Revenue is up, profit is flat to down, and the Q3 guide is soft.
This is educational analysis, not personalized investment advice. Do your own research before investing.
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