Wipro (WIPRO) Q2 25/26 earnings summary

Executive summary

• IT services revenue for Q2 FY26 reached $2.6 billion, growing 0.3% sequentially in constant currency and 0.7% in reported terms, but declining 2.6% year-on-year.

• Net income for Q2 FY26 was ₹32.5 billion, up 1.2% year-on-year, with EPS at ₹3.10.

• Total contract value booked was $4.7 billion, including 13 large deals and two mega deals, with large deal bookings up 90.5% year-on-year.

• Wipro Intelligence, a unified suite of AI-powered platforms, was launched to drive client innovation and productivity.

• 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.

Financial highlights

• IT services revenue grew 0.3% sequentially in constant currency and 0.7% in reported currency; consolidated revenue from operations for Q2 FY26 was ₹226,973 million.

• Adjusted operating margin was 17.2%, with a reported margin of 16.7% due to a one-off charge from a client bankruptcy.

• Net income and EPS grew 1% year-on-year; net profit for Q2 FY26 stood at ₹32,624 million.

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

• Basic EPS for Q2 FY26 was ₹3.10, compared to ₹3.07 in Q2 FY25.

Outlook and guidance

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

• Guidance excludes revenue from the pending Harman Digital Transformation Solutions acquisition, expected to close by December 2025.

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