Published: October 16, 2026 • Category: Indian Tech • IT Services Earnings • By Mahesh
BENGALURU: Wipro reported a 1.4% year-on-year fall in consolidated net profit attributable to shareholders to Rs 3,200.6 crore for the September quarter, while revenue from operations rose 9.1% to Rs 24,752.7 crore.[4] The company guided IT services revenue for the December quarter at 2.571 billion to 2.625 billion dollars, a range that brokerages read as sequential constant-currency growth of minus 1.5% to plus 0.5%.[9][5] Large deal bookings fell 58.6% from the previous quarter. The shares still gained 1.84% to close at Rs 174.05 on October 15.[9]
Q2 FY27 Results: Revenue, Profit and Margin
Revenue from operations reached Rs 24,752.7 crore against Rs 22,697.3 crore a year earlier. It slipped 1.1% from the June quarter.[4][7] Net profit attributable to shareholders was Rs 3,200.6 crore against Rs 3,246.2 crore in Q2 FY26. It was down about 4.5% sequentially.[4][5] The figures are consolidated results under International Financial Reporting Standards for the quarter ended September 30, 2026.[4]
| Metric | Q2 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|
| Revenue from operations (Rs crore) | 24,752.7 | 22,697.3 | +9.1% | -1.1% |
| Net profit attributable (Rs crore) | 3,200.6 | 3,246.2 | -1.4% | About -4.5% |
| IT services revenue (USD million) | 2,611.5 | Not stated | +0.3% | -0.1% |
| IT services operating margin | 16.5% | Not stated | Not stated | +0.5 pts |
Source: Wipro Q2 FY27 results as reported by Business Standard, HDFC Sky and inkl.[4][6][7] Some outlets cite Rs 3,199.7 crore or Rs 3,201 crore and a 1.9% decline because of different profit definitions and bases.
The gap between 9.1% growth in rupee revenue and 0.3% growth in dollar IT services revenue mainly reflects currency translation, on Depth Grid's reading, because Wipro reports in rupees while most of its IT services revenue is earned in foreign currencies.[6] Whalesbook noted that the quarter coincided with completion of a Rs 15,050.8 crore share buyback program.[8]
IT Services, Large Deals and Q3 Guidance
IT services revenue stood at 2,611.5 million dollars, 0.1% lower sequentially and 0.3% higher year on year. The segment operating margin expanded 0.5 percentage points sequentially to 16.5%.[6][7] For the December quarter the company expects IT services revenue of 2.571 billion to 2.625 billion dollars.[9] Against the September base of 2,611.5 million dollars, that band implies a range of about minus 1.5% to plus 0.5%, on Depth Grid's calculation.
A brokerage cited by Business Standard said the guidance band is unchanged from the previous quarter but now carries a full quarter of the Mindsprint and Alpha Net acquisitions, which implies minimal or negative organic growth.[5] The same note said revenue and margins held up while bookings declined sharply. It also expected FY27 revenue to stay flat year on year.[5] Kotak Neo reported that large deal bookings fell 58.6% from the previous quarter.[9]
Peer Check: Wipro Against HCLTech and TCS
| Metric | Wipro Q2 FY27 | HCLTech Q2 FY27 | TCS Q2 FY27 |
|---|---|---|---|
| Revenue growth YoY (Rs) | +9.1% | +11.5% | +11.2% |
| Net profit growth YoY | -1.4% | +21.2% | +15.0% |
| Operating margin | 16.5% (IT services) | About 18.2% (EBIT) | 24.0% |
| Sequential growth | -0.1% (USD, IT services) | +2.3% (constant currency) | +0.5% (constant currency) |
| Outlook | Q3 IT services: -1.5% to +0.5% CC | FY27: 2.5% to 4% CC | Not stated in sources |
Sources: company results as reported by Kotak Neo and Free Press Journal.[9][10][11] Growth bases and margin definitions differ by company. HCLTech margin is a Depth Grid calculation.
Wipro trails HCLTech and Tata Consultancy Services on rupee revenue growth, profit growth and margin. HCLTech reported sequential constant-currency growth of 2.3% and raised the floor of its FY27 guidance, while Wipro's own guidance for the next quarter spans zero growth.[10] The sequential figures use different bases, so they show direction rather than a like-for-like ranking. Infosys reports on October 23, which will complete the set of four large companies.[12][13]
Share Price and Brokerage View
Wipro shares closed at Rs 174.05 on the NSE and BSE trading day of October 15, up 1.84%, according to Kotak Neo.[9] Business Standard reported a gain of nearly 2% while brokerages stayed bearish, citing weak deal wins and furloughs behind the soft guidance.[5] Depth Grid has not verified trading since October 15. The closing level can differ slightly across data providers.
Strategic Implications for Indian IT Services
Wipro's quarter shows revenue growth in rupees that is not matched by growth in dollars, a falling order intake and guidance that does not point to a pickup. Margin held up, which suggests cost control is doing the work while demand stays soft. The sharp drop in large deal bookings is the number to watch, because bookings lead revenue by several quarters.
Across the four large companies the pattern is uneven. TCS leads on margin, HCLTech leads on sequential growth and AI revenue. Wipro currently trails on both. Depth Grid has covered the US suspension of PERM processing for Indian IT majors, which remains a variable for onshore hiring and delivery costs. For background on the demand that services firms are chasing, see our guide to the AI native company. Enterprise software vendors are making related moves, as in SAP's purchase of TechWolf.
Common Questions and Direct Answers
What were Wipro's Q2 FY27 results?
Wipro reported consolidated net profit attributable to shareholders of Rs 3,200.6 crore for the September 2026 quarter, down 1.4% from Rs 3,246.2 crore a year earlier. Revenue from operations rose 9.1% to Rs 24,752.7 crore. IT services revenue was 2,611.5 million dollars, down 0.1% sequentially and up 0.3% year on year.
What is Wipro's Q3 FY27 revenue guidance?
Wipro expects IT services revenue of 2.571 billion to 2.625 billion dollars for the December 2026 quarter. Brokerage commentary translates that into sequential constant-currency growth of minus 1.5% to plus 0.5%. The band is unchanged from the previous quarter and now includes a full quarter of acquired businesses.
What happened to Wipro's large deal bookings?
Kotak Neo reported that Wipro's large deal bookings fell 58.6% sequentially in Q2 FY27. A brokerage quoted by Business Standard described bookings as declining sharply even though revenue and margins held up. Depth Grid could not verify the dollar value of bookings in the sources reviewed, so check the company's investor presentation.
How did Wipro shares react to the Q2 results?
Wipro shares gained 1.84% to close at Rs 174.05 on October 15, 2026, according to Kotak Neo. Business Standard reported a gain of nearly 2% even though brokerages remained bearish on the outlook. Depth Grid has not verified Friday's trading. Closing prices can differ across data providers.
When does Infosys report its Q2 FY27 results?
Infosys is scheduled to announce its Q2 FY27 results on October 23, 2026, according to reports. TCS reported on October 8, HCLTech on October 12 and Wipro this week, so Infosys will complete the set of four large IT services companies. Confirm the date against the company's stock exchange filing.
Primary Sources and Regulatory Filings
- Wipro: investor relations and quarterly results releases
- National Stock Exchange of India: corporate announcements and results filings
- BSE: corporate announcements and results filings
- Business Standard: Wipro Q2 results, net profit and revenue
- Business Standard: Wipro shares and brokerage views after Q2 results
- HDFC Sky: Wipro Q2 FY27 profit, revenue and IT services revenue
- inkl: Wipro Q2 results, sequential profit and revenue change
- Whalesbook: Wipro Q2 FY27 results and buyback completion
- Kotak Neo: Wipro Q2 FY27 results, guidance, large deals and share price
- Kotak Neo: HCLTech Q2 FY27 results
- Free Press Journal: TCS Q2 FY27 results
- Kotak Neo: IT Q2 FY27 earnings calendar
- Upstox: Infosys Q2 FY27 results date
Related Intelligence
By Mahesh | Depth Grid News Desk | depthgrid.in
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