Wipro reported a 1.4 per cent fall in net profit for the September quarter of 2026-27 to Rs 3,200.6 crore on Thursday, 15 October 2026, according to HDFC Sky’s account of the results. A year earlier the company had earned Rs 3,246.2 crore, and the quarter’s profit was also 4.5 per cent lower than in the preceding quarter. Other outlets, including BW Businessworld and Kotak Neo, put the year-on-year fall at 1.9 per cent, and IndiaX24 follows the 1.4 per cent figure that matches the two rupee amounts.
Revenue from operations rose 9.1 per cent year on year to Rs 24,752.7 crore from Rs 22,697.3 crore, and was 1 per cent higher than in the previous quarter, according to the same report. The difference between the 9.1 per cent growth in revenue and the fall in profit means that the profit margin fell. Profit was about 12.9 per cent of revenue this quarter against about 14.3 per cent a year ago, a calculation by IndiaX24 from the figures above.
The rupee figures mask a weaker underlying picture. Revenue from the IT services segment was 2,611.5 million dollars, which was 0.1 per cent lower than in the previous quarter and 0.3 per cent higher than a year earlier, according to HDFC Sky. On a constant-currency basis, revenue was unchanged on the quarter and rose only 0.6 per cent on the year, according to a search summary of the results. The gap between 9.1 per cent growth in rupees and 0.3 per cent in dollars is large, and IndiaX24 infers that most of it comes from the fall in the rupee’s value against the dollar, which the reports do not state.
New business was the weak spot. Large-deal bookings fell 58.6 per cent to 674 million dollars, and overall bookings fell 22.9 per cent from the previous quarter in constant currency, according to BW Businessworld and the same summaries. If 674 million dollars is 41.4 per cent of the earlier level, then the figure a year ago was about 1.63 billion dollars, a back-calculation by IndiaX24 that the reports do not give. Wipro reported a decline in revenue for the second quarter in a row, according to a business summary, though that wording appears to refer to dollar revenue.
The IT services operating margin was 16.5 per cent, according to the summaries, which management attributed to efficiency and currency, and described slight improvement. The reports reviewed do not give the margin for the previous quarter or a year ago, so IndiaX24 cannot say by how much it changed.
The outlook is cautious. Wipro guided IT services revenue of 2,571 to 2,625 million dollars for the third quarter, which corresponds to a sequential change in constant currency of minus 1.5 per cent to plus 0.5 per cent, according to HDFC Sky. The midpoint of the range, 2,598 million dollars, is about 0.5 per cent below this quarter’s 2,611.5 million, a calculation by IndiaX24.
Chief executive Srini Pallia said that ‘strategic investments are delivering results, enhancing our ability to win in new markets, add new clients, and grow existing relationships’. He described artificial intelligence as ‘a long-term growth driver that will expand the addressable market for technology and business transformation’, and cited momentum in the company’s AI Native Unit, according to HDFC Sky. Management was optimistic about an improvement in deal momentum and operating margins, according to a business summary.
The results arrive in the middle of the IT earnings season. The Nifty IT index rose about 4 per cent on Friday, as IndiaX24 has reported, with Tech Mahindra and TCS among the biggest gainers. Infosys reports on 23 October, according to IndiaX24’s earlier preview. The reports reviewed do not give the reaction in Wipro’s own shares, so IndiaX24 does not say how the stock traded after the results.
The reports reviewed do not give Wipro’s dividend, headcount or attrition for the quarter, and IndiaX24 has not found them in the sources it opened. It will report on the outlook for the sector when Infosys and HCLTech announce their results.
Image: Wipro’s campus in Bengaluru (file photo). Photo by Rameshng, licensed under CC BY-SA 3.0, via Wikimedia Commons.