Wipro, a leading IT services firm, announced its Q2 results for FY26 on Thursday, revealing a mixed financial performance. The company's consolidated net profit saw a marginal rise of 1.2% year-on-year (YoY) to ₹3,246 crore, but experienced a 2.5% decline quarter-on-quarter (QoQ). This figure slightly missed Street estimates, which had projected a net profit of ₹3,279 crore.
Revenue from operations stood at ₹22,697 crore, reflecting a 1.8% increase compared to ₹22,302 crore in the same quarter last year. However, this also represents a 2.5% decrease from the previous quarter. Wipro's revenue growth remained almost flat with just 1.77% YoY consolidated revenue growth in the quarter.
The IT services segment reported revenue of $2,604.3 million, which is a 0.7% increase QoQ but a 2.1% decrease YoY. In constant currency terms, the non-GAAP IT Services segment revenue saw a 0.3% increase QoQ and a 2.6% decrease YoY.
Wipro has provided guidance for Q3FY26, estimating revenue from its IT Services business segment to be in the range of $2,591 million to $2,644 million. This translates to a sequential growth of -0.5% to +1.5% in constant currency terms. It's important to note that this forecast doesn't include any revenue from the recently announced Harman Digital Transformation Solutions acquisition.
Despite the mixed results, Wipro is optimistic about its future. Srini Pallia, CEO and Managing Director of Wipro, stated that the company's revenue momentum is strengthening, with Europe and APMEA returning to growth and operating margins holding steady. He also highlighted that bookings surpassed $9.5 billion for H1 FY26. Pallia emphasized the company's clear strategy to remain resilient, adapt to global shifts, and lead with AI, expressing excitement about bringing Wipro Intelligence™ to clients.
Key highlights from the Q2FY26 results include IT revenue at ₹22,641 crore, EBIT at ₹3,783 crore, and an EBIT margin of 16.7%. Large deal bookings were at $2,853 million, an increase of 6.7% QoQ and 90.5% YoY in constant currency. Total bookings reached $4,688 million, down by 6.1% QoQ but up by 30.9% YoY in constant currency.
Wipro, incorporated in 1945, operates in the IT Software sector. Its key products and revenue segments include Software Services, Networking, Storage equipment, Servers, and Software Licenses.
