Wipro, India’s fourth-largest IT company, reported a 1.9% year-on-year (YoY) decline in consolidated net profit to ₹3,200 crore for the September quarter of FY27, compared with ₹3,262.4 crore in the year-ago period. On a sequential basis, net profit fell 4.6% from ₹3,356.3 crore in the June quarter of FY27.
The IT major reported revenue from operations of ₹24,752.7 crore, up 9% from ₹22,697.3 crore in the year-ago quarter. On a quarter-on-quarter (QoQ) basis, revenue increased 1.1% from ₹24,478.6 crore in Q1 FY27.
Wipro’s IT services revenue stood at $2.61 billion in the September quarter, down 0.1% QoQ but up 0.3% YoY. On a non-GAAP constant currency basis, IT services revenue remained flat sequentially and grew 0.6% year-on-year.
The company’s IT services operating margin expanded 50 basis points sequentially to 16.5%, although it declined 20 basis points YoY. Earnings per share increased 4.2% YoY and 0.9% QoQ to ₹3.23.
Operating cash flow rose 61.3% QoQ to ₹5,300 crore, equivalent to 165.8% of net income for the quarter.
Q3 revenue guidance pegged at -1.5% to 0.5%
Going forward, Wipro expects revenue from its IT services business to be in the range of $2.571 billion to $2.625 billion in the December quarter, translating into sequential growth of -1.5% to 0.5% in constant currency terms.
Total bookings stood at $2.595 billion, down 22.9% QoQ in constant currency terms, while large deal bookings declined 58.6% sequentially to $674 million.
Srini Pallia, CEO and Managing Director of Wipro, said, “The strategic investments we have been making are beginning to deliver results. They are enhancing our ability to win in new markets, add new clients, and grow existing relationships. At the same time, our consulting-led, AI-powered strategy is helping us create larger transformation opportunities.
“We see AI as a long-term growth driver that will expand the addressable market for technology and business transformation. We are already seeing its potential reflected in the momentum across our AI Native Unit and AI offerings portfolio,” he added.
Aparna Iyer, Chief Financial Officer of Wipro, said, “Our operating margin for the quarter was 16.5%, an expansion of 0.5% sequentially. We have delivered this improvement even while continuing to invest in our business and people. We remain relentless in driving cash flow conversion. Q2 is yet another quarter where our operating cash flow has been robust and stood at 166% of net income.”
Ahead of Q2 results, Wipro shares ended 1.58% higher at ₹173.70 on the BSE, with a market capitalisation of ₹1.72 lakh crore.