Wipro Share Price: Q2 FY27 Results, Flat IT Services Revenue and Q3 Guidance Explained
Wipro's consolidated net profit fell 1.4% year-on-year to ₹3,200.6 crore in Q2 FY27, while revenue from operations rose 9.1% to ₹24,752.7 crore, Business Standard reported on October 15, 2026. IT services revenue, Wipro's main business, was flat in constant currency from the previous quarter. The Wipro share price closed at ₹174.05 on the NSE on October 15, up 1.83%, before the results came out.
The headline 9% revenue growth looks healthy, but the business underneath barely moved. Here's why, and what the guidance signals for the December quarter.
Key Takeaways
- Net profit: ₹3,200.6 crore, down 1.4% YoY and about 4.7% QoQ.
- IT services revenue: $2,611.5 million, flat QoQ and up 0.6% YoY in constant currency.
- IT services operating margin: 16.5%, up 50 basis points QoQ.
- Total contract value of deals: $2.59 billion, down 23% QoQ in constant currency.
- Q3 FY27 guidance: $2,571–2,625 million, or −1.5% to +0.5% sequential constant-currency growth.
What Did Wipro Report for Q2 FY27?
| Metric | Q2 FY27 | Change |
|---|---|---|
| Revenue from operations | ₹24,752.7 crore | +9.1% YoY |
| Net profit (attributable) | ₹3,200.6 crore | −1.4% YoY; −4.7% QoQ |
| IT services revenue | $2,611.5 million | −0.1% QoQ, +0.3% YoY (reported) |
| IT services revenue (constant currency) | — | Flat QoQ, +0.6% YoY |
| IT services operating margin | 16.5% | +50 bps QoQ |
| EPS | ₹3.23 | +4.2% YoY |
| Operating cash flow | ₹5,300 crore | 165.8% of net income |
Sources: Business Standard; PSU Connect, October 15, 2026.
Profit and revenue both came in below the Bloomberg consensus of ₹3,310 crore and ₹24,773 crore, Business Standard noted. Wipro also kept its revenue guidance cautious, citing a weak deal pipeline and the holiday-season seasonality of the December quarter.
GoPocket Analysis: Where Did the 9% Revenue Growth Come From?
Rupee revenue grew 9.1% YoY, but IT services revenue in dollars grew just 0.3%. Almost all of the rupee growth came from currency translation, as a weaker rupee raises the rupee value of Wipro's export earnings. That's real money, but it isn't new business.
One positive detail: Q2 IT services revenue of $2,611.5 million landed in the upper part of the $2,574–2,627 million range Wipro guided in July. By our calculation, it came in about 71% of the way up the range. So Wipro delivered on its own forecast, even though the forecast itself was flat.
The margin also improved by 50 basis points to 16.5%, even as the company kept investing. CFO Aparna Iyer said margins expanded alongside continued investment in the business and people, according to PSU Connect.
What Does the Q3 FY27 Guidance Mean?
Wipro expects IT services revenue of $2,571–2,625 million in the December quarter, translating to −1.5% to +0.5% sequential constant-currency growth. The midpoint is about −0.5%. In plain terms, Wipro is guiding for another flat-to-slightly-lower quarter.
The bookings number adds to the caution. Total contract value fell 23% sequentially in constant currency to $2.59 billion, Business Standard reported. Deal wins are the pipeline for future revenue, so a drop here matters more than one quarter's profit figure.
Where Does the Wipro Share Price Stand?
Wipro closed at ₹174.05 on October 15, 2026, after rising 1.83% in a broad market rally in which the Sensex jumped 1,534 points, Business Standard reported. Because the results came after market hours, the stock's first reaction to the numbers will show in trading on October 16.
Compare Wipro with peers on GoPocket: Infosys, TCS, HCL Technologies and Tech Mahindra. Read our Tech Mahindra Q2 FY27 analysis to see how the two compare.
What Are the Risks?
- Stalled growth: IT services revenue has been roughly flat for several quarters.
- Weaker bookings: A 23% sequential fall in TCV could weigh on future revenue.
- Currency: A stronger rupee would remove the main source of rupee revenue growth.
- Investment costs: Management has said AI and talent investments may create near-term margin headwinds.
What Should Investors Watch Next?
- Q3 FY27 delivery against the −1.5% to +0.5% guidance band.
- Recovery in deal bookings and large-deal wins.
- Traction in the AI-Native unit highlighted by CEO Srini Pallia.
- Whether the 16.5% margin holds once wage hikes are implemented.
Follow the live Wipro share price on GoPocket.
Sources
- Business Standard, Wipro Q2 results: Net profit falls 1.4% to ₹3,200.6 cr, revenue rises 9%, October 15, 2026
- PSU Connect, Wipro Q2 FY27: IT Services Flat QoQ, Margin Improves to 16.5%, October 15, 2026
- NSE bhavcopy closing prices, October 15, 2026
Disclaimer: This article is for information and educational purposes only and is not investment advice or a recommendation to buy, sell or hold any security. Past performance does not guarantee future returns. Consult a SEBI-registered investment adviser before investing.
