Wipro Announces Q2 FY26 Results; Large Deal Bookings Up 90.5% YoY, Revenue Up 0.3% QoQ CC
Wipro announced Q2 FY26 results with gross revenue at ₹227.0 billion. Large deal bookings surged 90.5% YoY. IT services revenue grew 0.3% QoQ in constant currency. Net income increased 1.2% YoY.
The announcement presents a mixed financial performance with strong large deal bookings and strategic wins, indicating future potential. However, the immediate revenue and profit growth are modest, and operating cash flow declined. The outlook for the next quarter is also moderate, suggesting a medium impact on the stock.
While large deal bookings showed strong growth and management expressed confidence in a strengthening revenue momentum, the overall revenue growth was modest (0.3% QoQ in CC) and IT services revenue decreased YoY. Net income and operating cash flows also saw QoQ declines, leading to a neutral outlook despite positive commentary on future strategy and AI adoption.
Wipro Limited announced its financial results under International Financial Reporting Standards (IFRS) for the quarter ended September 30, 2025. * Gross revenue stood at ₹227.0 billion ($2,556.6 million or ₹22,700 crore), increasing 2.5% QoQ and 1.8% YoY. * IT services segment revenue was $2,604.3 million (₹22,644 crore), a 0.7% QoQ increase but a 2.1% YoY decrease. * Non-GAAP constant currency IT Services segment revenue increased 0.3% QoQ and decreased 2.6% YoY. * Total bookings reached $4,688 million (₹40,770 crore), down 6.1% QoQ but up 30.9% YoY in constant currency. * Large deal bookings were robust at $2,853 million (₹24,815 crore), surging 6.7% QoQ and 90.5% YoY in constant currency. * Adjusted IT services operating margin for Q2’26 was 17.2%, expanding 0.4% YoY, after accounting for a ₹1,165 million (₹116.5 crore or $13.1 million) provision due to a customer bankruptcy. * Net income for the quarter was ₹32.5 billion ($365.6 million or ₹3,250 crore), decreasing 2.5% QoQ but increasing 1.2% YoY. * Earnings per share (EPS) was ₹3.1 ($0.031), down 2.5% QoQ and up 1.0% YoY. * Operating cash flows were ₹33.9 billion ($381.5 million or ₹3,390 crore), a decrease of 17.6% QoQ and 20.7% YoY, at 103.8% of Net Income. * Voluntary attrition was 14.9% on a trailing 12-month basis.
Outlook for the Quarter ending December 31, 2025: * Wipro expects revenue from its IT Services business segment to be in the range of $2,591 million to $2,644 million, translating to sequential guidance of (-)0.5% to (+)1.5% in constant currency. This guidance excludes expected revenue from the recently announced acquisition of Harman Digital Transformation Solutions.
Management Commentary: * Srini Pallia, CEO and Managing Director, stated, “Our revenue momentum is strengthening, with Europe and APMEA returning to growth, and our operating margins holding steady within the narrow band. Bookings surpassed $9.5 billion for H1 FY26. Our strategy is clear: remain resilient, adapt to global shifts, and lead with AI.” * Aparna Iyer, CFO, commented, “We are gradually returning to growth trajectory with three of our four SMUs growing sequentially in Q2. All key financial parameters continue to remain strong. Our large deal bookings in the first two quarters have now surpassed the large deal booking for full year FY’25.”
Strategic Deal Wins: Wipro secured several multi-year and AI-led strategic deals across various industries, including infrastructure modernization for a European financial institution, a Utilities CPQ solution for a European utility provider, AI-driven modernization of health insurance platforms for a U.S. healthcare company, and public cloud networking and storage infrastructure scaling for a US global technology leader.
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Wipro Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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