Wipro Q2 Results: Net profit declines marginally to Rs 3,201 crore, but revenue rises 9% YoY

Wipro, the leading IT firm, disclosed on Thursday that its net profit for the second quarter of the fiscal year 2027 fell marginally by 1.4% year-on-year to Rs 3,201 crore. However, the company's revenue grew by 9.1% YoY to Rs 24,752.7 crore. Sequentially, revenue declined by 1.1%. The IT services segment's revenue increased by 0.3% YoY to $2,611.5 million, with non-GAAP constant currency terms showing a 0.6% YoY rise and flat performance on a sequential basis.

Total bookings stood at $2,595 million, down 22.9% sequentially in constant currency terms, while large deal bookings decreased by 58.6% QoQ in constant currency terms to $674 million. The IT services operating margin in Q2FY27 was 16.5%, down by 0.2 percentage points YoY and up by 0.5 percentage points sequentially. Wipro's earnings per share rose 4.2% YoY to Rs 3.23, and operating cash flows were Rs 5,300 crore, which is 165.8% of net profit.

The voluntary attrition rate was 13.8% on a trailing 12-month basis. For Q3FY27, Wipro anticipates IT services revenue between $2,571 million and $2,625 million, indicating a sequential growth range of -1.5% to 0.5% in constant currency terms. Wipro's CEO, Srini Pallia, highlighted that the company's strategic investments were starting to bear fruit by helping it gain new markets, acquire clients, and strengthen relationships.