Wipro (WIPRO) Q2 25/26 (Media) earnings summary

Executive summary

• IT services revenue for Q2 was $2.6 billion, growing 0.3% sequentially in constant currency and 0.7% in reported currency, but declining 2.6% year-on-year in constant currency.

• Adjusted operating margin was 17.2%, up 0.4% year-on-year; reported margin was 16.7% due to a one-off customer bankruptcy charge.

• Net income and EPS grew 1% year-on-year, but net income declined 14% year-on-year due to lower other income and higher tax normalization.

• Audited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, were approved by the Board and received unmodified audit opinions.

• Results prepared under Ind AS and IFRS, with all major subsidiaries and step-subsidiaries included in consolidation.

Financial highlights

• Consolidated revenue from operations for Q2 FY26 was ₹226,973 million, up from ₹223,016 million in Q2 FY25.

• Net profit for Q2 FY26 stood at ₹32,624 million, compared to ₹32,266 million in Q2 FY25.

• Americas 1 grew 0.5% sequentially and 5% year-on-year; Americas 2 declined 2% sequentially and 5.2% year-on-year.

• Europe grew 1.4% sequentially but declined 10% year-on-year; APMEA grew 3% sequentially and 2.6% year-on-year.

• Operating cash flows were 104% of net income; gross cash including investments was $6 billion.

Outlook and guidance

• Q3 IT services revenue guidance: $2.59–$2.64 billion, or -0.5% to +1.5% sequential growth in constant currency.

• Guidance does not include revenue from the pending Harman Digital Transformation Solutions acquisition.

• Acquisition of HARMAN's Digital Transformation Solutions business for USD 375 million announced, expected to close by December 2025.

• Focus remains on converting backlog into revenue and maintaining operational discipline for profitable growth.