Summary: Wipro reported Q2 FY27 gross revenue of ₹24,752.7 crore, up 9.1% year on year, while net income fell 1.9% to ₹3,200 crore. Total bookings dropped 22.9% sequentially to $2.60 billion and large-deal bookings fell 58.6% to $674 million. The company guided for constant-currency IT services growth of minus 1.5% to plus 0.5% in the December quarter. The figures point to continued sales pressure despite a stronger operating margin.
Wipro’s September-quarter revenue beat market expectations, but the company’s sharp decline in deal bookings reinforced concerns about the pace of its turnaround. The results were announced on October 15, 2026, after Indian stock-market trading hours.
What Happened
Wipro reported gross revenue of ₹247.5 billion, or ₹24,752.7 crore, for the quarter ended September 30. Revenue increased 1.1% sequentially and 9.1% from a year earlier. IT services revenue was $2.61 billion, down 0.1% sequentially and up 0.3% year on year.
Net income fell 4.7% sequentially and 1.9% annually to ₹32.0 billion, or about ₹3,200 crore. The IT services operating margin improved 0.5 percentage points from the June quarter to 16.5%, although it remained 0.2 points below the year-earlier level.
The weakest part of the release was bookings. Total bookings fell 22.9% sequentially in constant currency to $2.595 billion. Large-deal bookings, covering contracts worth at least $30 million, dropped 58.6% to $674 million.
Why It Matters
Deal bookings are an important forward indicator because revenue from new contracts is recognised over their duration. A steep fall does not automatically translate into an equivalent revenue decline, but it reduces visibility and places more pressure on Wipro to convert its sales pipeline in coming quarters.
The company’s stronger margin and cash conversion provide some support. Operating cash flow rose 61.3% sequentially to ₹53 billion and equalled 165.8% of quarterly net income. Even so, management’s next-quarter guidance points to limited near-term growth.
Market Impact
Wipro’s U.S.-listed shares fell about 4.5% after the results, Reuters reported. In India, the company announced its earnings after the market had closed, so Thursday’s advance in the domestic shares was not a reaction to the figures. A demonstrated post-results move in the NSE-listed stock was therefore not available at publication time.
Industry Context
India’s large IT services companies are balancing cautious discretionary spending, pricing pressure and AI-led changes to traditional delivery models. Wipro’s near four-year low in bookings contrasts with stronger recent deal momentum reported by some peers.
For comparison, BusinessNews1 recently covered HCLTech’s Q2 profit growth and revised FY27 guidance. Investors should compare organic revenue, bookings, margins and guidance rather than relying only on rupee-revenue growth, which can also reflect currency movements and acquisitions.
What To Watch Next
Attention will focus on whether Wipro can rebuild large-deal bookings, keep its IT services margin near 16.5% and deliver within its December-quarter constant-currency guidance of minus 1.5% to plus 0.5%. Client spending in banking, manufacturing and Europe, along with the conversion of AI-related opportunities into signed contracts, will be important.
Frequently Asked Questions
What were Wipro’s main Q2 FY27 figures?
Gross revenue reached ₹24,752.7 crore, rising 9.1% year on year and 1.1% sequentially. Net income was ₹3,200 crore, down 1.9% annually and 4.7% from the previous quarter. IT services operating margin improved 0.5 percentage points sequentially to 16.5%.
Why are Wipro’s booking numbers important?
Bookings measure the contract value signed during the period and can indicate future revenue visibility. Wipro’s total bookings fell 22.9% sequentially to $2.595 billion, while large-deal bookings dropped 58.6% to $674 million. Revenue is recognised over contract tenures, so the effect is not immediate.
What is Wipro’s guidance for the December quarter?
Wipro expects IT services revenue of $2.571 billion to $2.625 billion in Q3 FY27. That implies sequential constant-currency growth between minus 1.5% and plus 0.5%. The range signals that management expects the business to remain broadly flat or contract modestly in the near term.
How did Wipro shares react to the results?
Reuters reported that Wipro’s U.S.-listed shares fell about 4.5% after the earnings release. The Indian results announcement came after domestic trading hours, so Thursday’s NSE and BSE movement preceded the report. The next Indian session would provide the first clear local market reaction.
