Wipro Q2 Results: India’s fourth-largest IT services firm, Wipro, announced its financial performance for the September quarter (Q2FY26) post market hours today, reporting numbers in line with estimates.
The IT major reported revenue of ₹22,697 crore, coming in slightly above analysts’ consensus estimate of ₹22,577 crore, marking a 1.8% year-on-year (YoY) improvement from ₹22,302 crore reported in the same period last year. Sequentially, revenue also improved by 2.53%.
Revenue growth was supported by stability in the European business and the ramp-up of a few large deals. Its revenue from the IT services segment came in at $2,604.3 million, marking a 0.7% sequential increase and a 2.1% year-on-year decline.
“Our revenue momentum is strengthening, with Europe and APMEA returning to growth, and our operating margins holding steady within the narrow band,” Wipro CEO and Managing Director Srini Pallia said.
Meanwhile, the company said its margin was impacted by a provision of ₹116.5 crore related to the bankruptcy of a customer. Adjusted for this event, the margin for the quarter stood at 17.2%, reflecting a 0.1% sequential contraction and a 0.4% year-on-year expansion.
The Bengaluru-headquartered firm reported net profit of ₹3,246.2 crore, a marginal improvement of 1.1% compared to ₹3,227 crore in the year-ago period, but a 2.5% decline sequentially.
Total bookings down 6.1% QoQ, but surge 31% YoY; H1 FY26 bookings cross $9.5 Billion
Wipro’s total bookings stood at $4,688 million in Q2, down 6.1% sequentially but up 31% YoY in CC terms. Large deal bookings reached $2,853 million, reflecting a 6.7% sequential increase and a 90.5% YoY jump in constant currency, with the company surpassing $9.5 billion for H1 FY26.
Srini Pallia said, “Our strategy is clear: remain resilient, adapt to global shifts, and lead with AI. I am excited to bring Wipro Intelligence to our clients, helping them scale confidently and shape the future in an AI-first world.”
Aparna Iyer, Chief Financial Officer, added, “We are gradually returning to a 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 total large deal bookings for the full year FY25.
Attrition rate drops to 14.9%
The company’s voluntary employee attrition rate drops to 14.9% in September 2025, down from 15.1% in the preceding June quarter. This reflects a drop in the number of employees choosing to leave the company over the past year on a trailing twelve-month (LTM) basis, according to the company’s regulatory filing.
The total headcount stood at 235,492 employees as of September 30, 2025, up from 233,232 at the end of June 2025, marking a net decline of 2,260 employees during the quarter.
Outlook for December quarter
The company expects revenue from its IT Services business segment to be in the range of $2,591 million to $2,644 million, translating to a sequential guidance of -0.5% to +1.5% in constant currency terms.
The company noted that this guidance does not include any expected revenue from the recently announced acquisition of Harman Digital Transformation Solutions.
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