Wipro, India’s fourth-largest IT services firm, reported a net profit of ₹3,200 crore for the September quarter (Q2FY27), down 1.9% year-on-year and 4.6% sequentially, according to livemint.com. The company’s revenue from operations rose 9% year-on-year to ₹24,752.7 crore, marking a 1.1% increase from the previous quarter. Revenue from the IT services segment was ₹24,667 crore, a 1% rise year-on-year.
The company’s IT services revenue in dollar terms stood at $2,611.5 million, reflecting a 0.3% year-on-year increase but a 0.1% quarter-on-quarter decline, per economictimes.indiatimes.com. Total bookings fell sharply to $2.6 billion from $4.7 billion in the prior quarter. Large deal bookings declined 58.6% quarter-on-quarter in constant currency terms to $674 million. Operating cash flows surged 61.3% sequentially to ₹5,300 crore, representing 165.8% of net profit for the quarter.
Wipro’s revenue from Europe, which accounts for over a quarter of its business, rose 5.1% year-on-year after adjusting for currency fluctuations, according to livemint.com. The company’s strategic partnerships with Anthropic and Google have contributed to traction in AI-related revenue and cost savings. The IT services operating margin was 16.5%, down 0.2 percentage points year-on-year but up 0.5 percentage points sequentially. Earnings per share increased 4.2% year-on-year to ₹3.23.
For the third quarter of FY27, Wipro expects IT services revenue between $2,571 million and $2,625 million, implying a sequential change of -1.5% to 0.5% in constant currency terms, economictimes.indiatimes.com reported. CEO Srini Pallia noted that strategic investments are beginning to deliver results, supporting the company’s growth trajectory.