Wipro Reports Q2 FY26 Results: Revenue Up 2.5% QoQ, Bookings Surge 30.9% YoY Amid AI-Driven Growth and Strategic Deal Wins

Wipro Limited reported its financial results for the quarter ended September 30, 2025, under International Financial Reporting Standards (IFRS). The company recorded gross revenue of Rs 227.0 billion ($2,556.6 million), representing a 2.5% increase quarter-on-quarter and a 1.8% rise year-on-year. The IT services segment generated $2,604.3 million in revenue, up 0.7% sequentially but down 2.1% compared to the same period last year. On a non-GAAP constant currency basis, IT services revenue rose 0.3% QoQ and declined 2.6% YoY. Total bookings for the quarter reached $4,688 million, a 6.1% decrease from the prior quarter but up 30.9% year-on-year in constant currency. Large deal bookings—defined as contracts of $30 million or more—amounted to $2,853 million, marking a 6.7% increase QoQ and a 90.5% surge YoY in constant currency. The IT services operating margin was 16.7%, impacted by a provision of Rs 1,165 million ($13.1 million) related to the bankruptcy of a customer. Excluding this one-time charge, the adjusted operating margin was 17.2%, down 0.1% QoQ but up 0.4% YoY. Net income for the quarter stood at Rs 32.5 billion ($365.6 million), a 2.5% decrease QoQ and a 1.2% increase YoY. Earnings per share were Rs 3.1 ($0.031), down 2.5% QoQ and up 1.0% YoY. Operating cash flow was Rs 33.9 billion ($381.5 million), down 17.6% QoQ and 20.7% YoY, but still represented 103.8% of net income for the quarter. Voluntary attrition remained at 14.9% on a trailing 12-month basis. For the quarter ending December 31, 2025, Wipro expects IT services revenue to range between $2,591 million and $2,644 million, translating to a sequential growth guidance of -0.5% to +1.5% in constant currency. This outlook does not include revenue from the recently announced acquisition of Harman Digital Transformation Solutions. Wipro’s leadership highlighted strong momentum in Europe and APMEA, with three of its four Strategic Market Units (SMUs) growing sequentially. The company reported that large deal bookings in the first half of FY26 exceeded the full-year FY25 total. Adjusted margins expanded 0.4% YoY, and EPS grew 1% YoY. Cash flow conversion remained robust, with operating cash flow at 104% of net income. Key strategic deal wins in Q2’26 included infrastructure modernization for a European financial institution, deployment of a Utilities CPQ solution for a European utility provider, and a multi-year engagement with a U.S. healthcare company to modernize health insurance platforms using AI and cloud transformation. Wipro also secured engagements with a global tech leader for public cloud infrastructure scaling, a UK financial services group for an Agentic AI framework, and a U.S. healthcare payer for AI-driven process transformation. Wipro was recognized as a Leader in multiple industry reports, including Gartner’s Magic Quadrant for Public Cloud IT Transformation Services, ISG Provider Lens for Cybersecurity and Network Software-Defined Solutions, Everest Group’s Talent Readiness for Next-generation Cloud Services, and Avasant’s RadarViews for Healthcare Payor and Utilities Digital Services. The company continues to strengthen its position in AI, digital transformation, and cloud services, with a focus on delivering scalable, intelligent solutions across industries. Wipro’s leadership reaffirmed its commitment to resilience, innovation, and leading the AI-first future. A conference call to discuss the results was held on the same day at 7:00 p.m. IST (8:30 a.m. ET), with a webcast available at https://links.ccwebcast.com/?EventId=WIP16102025. A replay will be accessible in the Investor Relations section of Wipro’s website.