Bengaluru-based IT services giant Wipro Ltd announced its second-quarter fiscal year 2027 results on October 15, 2026, revealing a marginal decline in consolidated net profit despite robust revenue growth. The company posted a net profit of Rs 3,200.6 crore for the quarter, a 1.41% decrease compared to Rs 3,246.2 crore recorded in Q2 FY26.
Financial Highlights for Q2 FY27
Despite the slight dip in profit, Wipro's financial performance showed strength in other areas. The firm's gross revenue climbed to Rs 24,750 crore ($2,583 million), marking a significant 9.1% increase year-on-year and a 1.1% rise quarter-on-quarter. The IT services segment revenue stood at $2,611.5 million, remaining largely stable sequentially and growing 0.3% year-on-year.
The IT services operating margin for the quarter was 16.5%. Earnings per share (EPS) saw a positive trend, reaching Rs 3.23 ($0.031), which is up 0.9% sequentially and 4.2% year-on-year. Operating cash flows demonstrated strong growth, increasing 61.3% quarter-on-quarter to Rs 5,300 crore ($553.6 million), representing 165.8% of the net income for the period.
Bookings and Attrition Trends
Total bookings for Wipro in Q2 FY27 amounted to $2,595 million. However, this figure represents a 22.9% sequential decrease in constant currency terms. Large deal bookings also saw a notable decline, coming in at $674 million, a 58.6% sequential decrease in constant currency. On the human resources front, voluntary attrition stood at 13.8% on a trailing 12-month basis.
Future Outlook and CEO's Vision
Looking ahead, Wipro provided its revenue guidance for the third quarter ending December 31, 2026. The company anticipates revenue from its IT Services business segment to be in the range of $2,571 million to $2,625 million. This translates to a sequential guidance of -1.5% to +0.5% in constant currency terms.
Srini Pallia, CEO and Managing Director of Wipro, commented on the results, stating,
"The strategic investments we have been making are beginning to deliver results. They are enhancing our ability to win in new markets, add new clients, and grow existing relationships. At the same time, our consulting-led, AI-powered strategy is helping us create larger transformation opportunities. We see AI as a long-term growth driver that will expand the addressable market for technology and business transformation. We are already seeing its potential reflected in the momentum across our AINative Unit and AI offerings portfolio."
The earnings announcement was made after market hours, following which Wipro shares had closed 1.58% higher at Rs 173.70 earlier in the day.