Wipro LimitedQ2 FY27 Results & Financial Update
Wipro Limited: Q2 FY27 consolidated results and company financials – revenue ₹24,752.70 Cr, PAT ₹3,199.70 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Wipro Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Wipro reported consolidated gross revenue of ₹24,752.7 crore for the quarter ended September 30, 2026, marking an increase of 9.1% compared to ₹22,697.3 crore in the corresponding period of the previous year.
Profit after tax for Q2 FY27 stood at ₹3,199.7 crore, reflecting a minor decline of 1.9% from ₹3,262.4 crore reported in Q2 FY26. Earnings per share (EPS) for the quarter rose to ₹3.23 compared to ₹3.10 a year ago.
IT Services segment revenue came in at $2,611.5 million, remaining essentially flat sequentially (down 0.1% QoQ) and registering a 0.3% year-on-year increase on a reported basis, while constant currency growth was flat sequentially and up 0.6% YoY.
IT Services operating margin for Q2 FY27 expanded by 0.5% sequentially to reach 16.5%, even as the company continued to invest in business capabilities, talent, and AI initiatives.
Total bookings during the quarter stood at $2,595 million, while large deal bookings were recorded at $674 million, reflecting sequential moderation compared to the previous quarter.
Operating cash flows remained robust at ₹5,304.8 crore ($553.6 million), representing 165.8% of net income for the quarter and supporting strong cash conversion metrics.
Voluntary attrition on a trailing 12-month basis for IT services excluding BPS stood at 13.8%, reflecting stable workforce retention.
01 · Business model
What does Wipro do?
Wipro Limited is a leading global information technology, consulting, and business process services company focused on building digital transformation and AI-powered solutions for enterprises worldwide.
The company operates primarily in the IT Services segment, offering consulting, cloud infrastructure, applications, cybersecurity, and artificial intelligence-driven platforms across diverse industry verticals.
Geographically, Wipro serves clients across Americas, Europe, and APMEA (Asia Pacific, Middle East, and Africa), engaging with enterprise customers through localized buying centers and strategic delivery hubs.
The firm also operates an IT Products business as a value-added reseller of security, packaged, and SaaS software alongside hardware deliverables tied to total outsourcing contracts.
02 · Historical context
What shaped the business before this quarter
Effective April 1, 2026, customers across Latin America and Canada were aligned with respective industry sectors in Americas 1 and Americas 2, with prior period comparables readjusted accordingly.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Q2 FY27 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹24,752.70 Cr | ₹22,697.30 Cr | — |
| Total income | ₹24,752.70 Cr | ₹22,697.30 Cr | — |
| Profit before tax | ₹4,204.70 Cr | ₹4,282.40 Cr | ₹4,334.50 Cr |
| Profit after tax | ₹3,199.70 Cr | ₹3,262.40 Cr | — |
| EPS | ₹3.23 | ₹3.10 | — |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
IT Services segment revenue reached $2,611.5 million, up 0.3% YoY on a reported basis and flat in constant currency terms.
Europe delivered 5.1% YoY reported growth, while APMEA grew 13.3% YoY in reported terms during the quarter.
Consumer sector revenue grew 6.0% YoY reported, and Technology and Communications grew 7.1% YoY reported.
IT Products segment contributed ₹151.2 crore ($15.8 million) in revenue for the quarter.
What drove margins
IT Services operating margin expanded by 0.5% sequentially to 16.5%, driven by disciplined cost management and operational efficiencies.
Cost of revenues for the quarter was ₹17,607.1 crore, reflecting delivery costs across IT services and products.
Selling and marketing expenses stood at ₹1,672.6 crore, while general and administrative expenses were ₹1,474.0 crore.
05 · Demand, customers & order book
Where demand is coming from
Total bookings for the quarter were $2,595 million in constant currency.
Large deal bookings for the quarter stood at $674 million.
Top customer accounted for 4.5% of revenue, top 5 for 14.9%, and top 10 for 23.9%.
Total number of active customers stood at 1,229, with 18 customers contributing over $100 million on a trailing 12-month basis.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Reported segment revenue of ₹8,498.5 crore with segment results of ₹1,600.9 crore.
Reported segment revenue of ₹6,319.4 crore with segment results of ₹1,122.2 crore.
Reported segment revenue of ₹6,754.6 crore with segment results of ₹1,130.9 crore.
Reported segment revenue of ₹3,094.5 crore with segment results of ₹432.3 crore.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Closing employee count stood at 236,328, with net utilization (excluding trainees) at 83.4%.
Offshore revenue percentage of services was 62.2%, and fixed price projects (FPP) accounted for 52.4% of revenue.
Projects, capex and execution
Purchase of property, plant and equipment for the quarter was ₹426.1 crore.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Management highlighted ongoing investments in the Wipro Intelligence suite, AI-Native units, and consulting-led transformation strategies to capture large-deal opportunities.
09 · Reported developments
What changed operationally
Wipro secured major contracts across banking, healthcare, energy, and technology sectors, including mortgage platform modernization with NetOxygen and AI-driven GCC setups.
Positioned as a Leader in multiple assessments including IDC MarketScape for AI-Driven Professional Services and ISG Provider Lens.
10 · Pressure points & risks
What is not going smoothly
Total bookings and large deal bookings experienced sequential decreases of 22.9% and 58.6% respectively in constant currency.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash generated from operating activities reached ₹5,304.8 crore, representing 165.8% of net income.
Free cash flow for the quarter stood at ₹4,888.0 crore, representing 152.8% of net income.
Capital allocation & funding
Current loans, borrowings and bank overdrafts stood at ₹18,502.1 crore as of September 30, 2026.
12 · Management guidance & targets
What management is targeting from here
Management expects IT Services business segment revenue for the quarter ending December 31, 2026, to be in the range of $2,571 million to $2,625 million, translating to sequential guidance of (-)1.5% to (+)0.5% in constant currency terms.
13 · Previous-quarter changes
What changed since the previous quarter
Operating margin improved from 16.0% in Q1 FY27 to 16.5% in Q2 FY27.
14 · Key Q&A
The quarter, answered directly
What does Wipro do?
Wipro Limited is a leading global information technology, consulting, and business process services company focused on building digital transformation and AI-powered solutions for enterprises worldwide.
What is the clearest takeaway from Q2 FY27?
Wipro reported consolidated gross revenue of ₹24,752.7 crore for the quarter ended September 30, 2026, marking an increase of 9.1% compared to ₹22,697.3 crore in the corresponding period of the previous year.
What drove revenue or demand?
IT Services segment revenue reached $2,611.5 million, up 0.3% YoY on a reported basis and flat in constant currency terms.
What mattered most for margins or profitability?
IT Services operating margin expanded by 0.5% sequentially to 16.5%, driven by disciplined cost management and operational efficiencies.
What changed operationally beyond the headline numbers?
Closing employee count stood at 236,328, with net utilization (excluding trainees) at 83.4%.
What is management guiding or targeting from here?
Management expects IT Services business segment revenue for the quarter ending December 31, 2026, to be in the range of $2,571 million to $2,625 million, translating to sequential guidance of (-)1.5% to (+)0.5% in constant currency terms.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Q3 FY27 Revenue Delivery: Track reported IT Services revenue against the management guidance range of $2,571 million to $2,625 million.
- 02
Large Deal Conversion: Monitor pipeline conversion and large deal bookings trajectory in subsequent quarters.
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