Mumbai — Indian IT services giant Wipro reported a decline in consolidated net profit for the quarter ended September 2026, even as revenue increased 9% year over year, supported by growth in its technology services business.
The company posted a net profit attributable to shareholders of Rs 3,200 crore for the second quarter of fiscal 2027, down 1.9% from Rs 3,262.4 crore in the same period last year, according to a stock exchange filing released Thursday.
Profit also declined from Rs 3,356.3 crore in the preceding June quarter, representing a sequential decrease of approximately 4.7%.
Revenue from operations increased 9% year over year to Rs 24,752.7 crore, compared with Rs 24,478.6 crore in the previous quarter, reflecting sequential growth of 1.1%.
Revenue from Wipro’s core IT services business totaled Rs 24,667 crore during the quarter.
In U.S. dollar terms, IT services revenue stood at $2.61 billion, representing a marginal 0.1% decline from the previous quarter and a 0.3% increase from a year earlier.
On a constant-currency basis, which excludes the effects of exchange-rate fluctuations, IT services revenue remained unchanged sequentially and increased 0.6% year over year.
Wipro’s European operations, which account for more than a quarter of its total revenue, recorded 5.1% year-over-year growth in constant-currency terms.
The company also pointed to its partnerships with artificial intelligence companies Anthropic and Google as important contributors to expanding AI-related business opportunities and improving operational efficiency.
Despite modest revenue growth in its core services business, Wipro improved its IT services operating margin to 16.5%, an increase of 0.5 percentage points from the previous quarter. However, the margin remained 0.2 percentage points below the year-earlier level.
Chief Financial Officer Aparna Iyer said the company achieved the margin improvement while continuing to invest in business expansion and workforce development.
“Our operating margin for the quarter was 16.5 per cent, an expansion of 0.5 per cent sequentially. We have delivered this improvement even while continuing to invest in our business and people,” Iyer said.
She also highlighted the company’s strong cash generation during the quarter.
“We remain relentless in driving cash flow conversion. Q2 is yet another quarter where our operating cash flow has been robust and stood at 166 per cent of net income,” Iyer added.
The quarterly results reflect Wipro’s continued focus on protecting profitability, expanding AI-driven services and improving operational efficiency amid relatively subdued growth in its core IT services business. (Source: IANS)
