Wipro’s Q2 net falls 2.5% to `3,246 cr

Mumbai: IT major Wipro on Thursday reported a 2.5 per cent quarter-on-quarter (QoQ) decline in its consolidated net profit to Rs3,246 crore for the July–September quarter (Q2) of FY26, compared to Rs3,330 crore in the previous quarter (Q1 FY26).

However, the company’s profit rose 1.2 per cent year-on-year (YoY) for the July–September quarter, compared to Rs3,209 crore in the same period last financial year (Q2 FY25), as per its stock exchange filing.

The company’s revenue from operations rose 1.8 per cent YoY to Rs22,697 crore, up from Rs22,302 crore in the corresponding period last fiscal.

On a quarterly basis, revenue grew 2.5 per cent from Rs 22,135 crore recorded in the April–June quarter, the exchange filing showed. Wipro’s expenses increased by over 2 per cent YoY to Rs 19,378 crore during the quarter.

The company’s IT services revenue stood at Rs22,640 crore, registering a growth of over 2 per cent compared to previous financial year. The IT segment alone reported revenue of Rs 22,753 crore, slightly higher than Rs22,262 crore a year ago.

The IT services operating margin for the quarter came in at 16.7 per cent, which was impacted by a one-time provision of Rs 116.5 crore due to the bankruptcy of a customer.

Adjusted for this, the margin stood at 17.2 per cent, showing a 0.1 per cent decline QoQ but a 0.4 per cent improvement YoY.

For the next quarter, Wipro expects revenue from its IT services business to be in the range of $2,591 million to $2,644 million, translating to a sequential growth guidance of -0.5 per cent to +1.5 per cent in constant currency terms. The outlook does not include any contribution from its recent acquisition of Harman Digital Transformation Solutions.