“I am excited to bring Wipro Intelligence™ to our clients, helping them scale confidently and shape the future in an AI-first world.”-Srini Pallia, CEO & MD.

East Brunswick, N.J., United States & Bangalore, Karnataka, India —

Large deal booking at $2.9Bn, grew 90.5% YoY, overall deal bookings at $4.7Bn

Revenue grew 0.3% QoQ in CC terms; Net income growth of 1.2% YoY

Q2’26 adjusted operating margin at 17.2%, expands 0.4% YoY

Operating cash flows at 103.8% of net income

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended September 30, 2025.

Highlights of the Results

Results for the Quarter ended September 30, 2025:

1. Gross revenue at Rs 227.0 billion ($2,556.6 million¹), increase of 2.5% QoQ and 1.8% YoY.
2. IT services segment revenue was at $2,604.3 million, increase of 0.7% QoQ and decrease of 2.1% YoY.
3. Non-GAAP² constant currency IT Services segment revenue increased 0.3% QoQ and decreased 2.6% YoY.
4. Total bookings³ was at $4,688 million, down by 6.1% QoQ and up by 30.9% YoY in constant currency². Large deal bookings⁴ was at $2,853 million, an increase of 6.7% QoQ and 90.5% YoY in constant currency².
5. IT services operating margin⁵ for Q2’26 was 16.7%, impacted by a provision of Rs 1,165 million ($13.1 million¹) made with respect to bankruptcy of a customer. Adjusted for this event, IT Services Margin for the quarter was 17.2%, contraction of 0.1% QoQ and expansion of 0.4% YoY.
6. Net income for the quarter was at Rs 32.5 billion ($365.6 million¹), decrease of 2.5% QoQ and increase of 1.2% YoY.
7. Earnings per share for the quarter at Rs 3.1 ($0.03¹), decrease of 2.5% QoQ and increase of 1.0% YoY.
8. Operating cash flows of Rs 33.9 billion ($381.5 million¹), decrease of 17.6% QoQ and 20.7% YoY and at 103.8% of Net Income for the quarter.
9. Voluntary attrition was at 14.9% on a trailing 12-month basis.

Outlook for the Quarter ending December 31, 2025

We expect revenue from our IT Services business segment to be in the range of $2,591 million to $2,644 million*. This translates to sequential guidance of (-)0.5% to (+)1.5% in constant currency terms. The guidance stated above does not include any expected revenue from the recently announced acquisition of Harman Digital Transformation Solutions.

*Outlook for the Quarter ending December 31, 2025, is based on the following exchange rates: GBP/USD at 1.35, Euro/USD at 1.16, AUD/USD at 0.65, USD/INR at 87.21 and CAD/USD at 0.72

Performance for the Quarter ended September 30, 2025

Srini Pallia, CEO and Managing Director, said “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. 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, said “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. Our adjusted margins for Q2 expanded by 0.4% YoY. EPS for the quarter grew 1% YoY. Lastly, our cash flow conversion continues to remain strong with operating cash flow at 104% of our net income for Q2.”

1. For the convenience of the readers, the amounts in Indian Rupees in this release have been translated into United States Dollars at the certified foreign exchange rate of US$1 = Rs 88.78, as published by the Federal Reserve Board of Governors on September 30, 2025. However, the realized exchange rate in our IT Services business segment for the quarter ended September 30, 2025, was US$1= Rs 86.94
2. Constant currency for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period.
3. Total Bookings refers to the total contract value of all orders that were booked during the period including new orders, renewals, and increases to existing contracts. Bookings do not reflect subsequent terminations or reductions related to bookings originally recorded in prior fiscal periods. Bookings are recorded using then-existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations. The revenues from these contracts accrue over the tenure of the contract. For constant currency growth rates, refer note 2.
4. Large deal bookings consist of deals greater than or equal to $30 million in total contract value.
5. IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials.

Highlights of Strategic Deal Wins

In Q2’26, Wipro continued to win large and strategic deals across industries. Key highlights include:

1. Wipro has secured a multi-year infrastructure modernization engagement with a leading European financial institution. As part of this engagement, Wipro will deliver centralized modernization services across compute, database, middleware, network, and storage towers, enabling seamless cloud migration and data center consolidation. This transformation will help the client streamline operations, simplify infrastructure management, accelerate digital initiatives, and achieve long-term operational and cost efficiencies.
2. A prominent European utility provider selected Wipro to deploy a Utilities CPQ (Configure, Price, Quote) solution aimed at transforming customer engagement and operational workflows across its retail divisions. Leveraging its trusted utilities industry presence, Wipro Consulting worked extensively with the client to co-create a strategic roadmap demonstrating the solution’s architecture and value proposition. This engagement is expected to drive faster growth and significantly streamline the quote-to-cash process.
3. Wipro has secured a multi-year engagement with a leading U.S. healthcare company, expanding a decade-long partnership. The engagement spans new geographies and includes AI-driven modernization of health insurance platforms to enable proactive care and smarter clinical decisions. A large-scale cloud migration and transformation will enhance scalability of solutions, optimize resource allocation, and strengthen patient data protection for the client. Leveraging its deep healthcare expertise and AI-infused delivery, Wipro is helping the client bring innovation closer to members, providers, and employees. This win reinforces Wipro’s commitment to making healthcare accessible, intelligent, and deeply human through technology.
4. A US-based global technology leader has awarded Wipro a strategic engagement to scale its public cloud networking and storage infrastructure. Through this engagement, Wipro will accelerate the client’s speed to market by expanding cloud capacity and streamlining the migration of applications and services. By integrating AI-powered tools, Wipro will reduce build-out cycle times, enhance infrastructure reliability, and ensure high service availability— significantly minimizing downtime and improving end-user experience.
5. In an AI-led new deal, Wipro will deploy a modular Agentic AI framework for a leading UK-based financial services group to transform the way payments data is analyzed and consumed. The solution, built on a flexible cloud-native platform, will create data products such as intelligence dashboards, predictive models, fraud detection alerts and compliance reports. These data products will help the client to analyze complex datasets in real-time, delivering instant insights to accelerate decision-making across strategy, operations and compliance functions. Wipro’s Intelligent Agents will remove technical barriers, driving higher user engagement and, thereby, significantly improving efficiencies through faster and trusted insights.

6. A leading US-based healthcare payer has chosen Wipro as a strategic technology partner to transform its operations across enrollment, billing, and claims management process. By leveraging AI-powered delivery to manage end-to-end member services, Wipro will help the client boost productivity, improve agility, and deliver meaningful cost efficiencies. The engagement also includes deploying a modular Agentic AI framework to enhance provider support, streamline operations, and elevate customer satisfaction.

7. A leading North American retailer has extended its contract with Wipro to transform its services and operations portfolio. Wipro will implement a scalable, AI-enabled delivery model to increase productivity, streamline processes, and enhance customer satisfaction. The engagement also focuses on consolidating service delivery and simplifying vendor management, driving measurable gains in cost efficiency, operational scale, and customer experience.
8. A global consumer health company has awarded Wipro a strategic AI-led engagement to elevate service delivery and automate its invoice processing. Through this deal, Wipro will deploy AI-powered invoice automation platform to streamline data validation, automate invoice indexing, and enable intelligent invoice handling. The solution will reduce manual errors, enhance touchless processing, accelerate approval process, and lower operational costs to boost efficiency, compliance, and scalability.
9. A leading financial services provider in India has engaged Wipro to modernize its digital banking platforms through a dedicated engineering hub. Leveraging Wipro’s deep domain expertise and proven delivery capability, the solution included cloud infrastructure management, platform engineering, and site reliability practices for the client across mobile and online banking. This strategic transformation will afford the client measurable improvements in customer experience, system resilience, operational efficiency, and a future-ready technology stack.
10. Following the merger of four regional rural banks in India, Wipro was selected to spearhead a strategic digital overhaul. With its strong capabilities in banking technology, Wipro Consulting co-created a roadmap with the client to transition over 1,500 branches to a unified core banking system. This engagement is set to improve customer service consistency, boost agility, and enable seamless enterprise-wide integration.
11. Wipro has secured a strategic engagement with a leading European telecom provider to modernize its digital and enterprise technology landscape and drive IT simplification, automation, and AI-led transformation. The project will be powered by Wipro’s GenAI-powered digital experience and self-service platforms, enabling proactive and predictive IT operations, faster incident resolution, and improved service reliability. The engagement will also introduce Conversational AI and autonomous operations. A dedicated design studio, led by Designit, Wipro’s experience innovation company, will serve as a hub for rapid innovation, business ideation, and solutioning to reimagine the delivery of transformative experiences. Through AI-led development and intelligent automation, Wipro will help reduce overheads, boost agility, and unlock sustained productivity.
12. A leading global financial services firm has renewed its strategic engagement with Wipro to transform its enterprise operations and technology landscape. Wipro will continue to deliver key technology initiatives including application development and modernization, infrastructure support, cybersecurity, and workflow orchestration. Wipro will also automate and service middle and back-office operational processes including global tax, client onboarding, accounting, treasury, asset servicing, investor services, and portfolio reporting. This ongoing initiative will establish a roadmap towards outcome-based managed services, enabling improved performance and delivery quality, pricing transparency, and a scalable global framework to support long-term growth.