Wipro Q2 Results: Net Profit Falls 2% YoY to Rs 3,200 Crore; Revenue Rises 9%
- October 15, 2026
- Posted by: Neeraj Pandey
- Category: News
Wipro Q2 FY27 results on 15 Oct 2026: revenue from operations of Rs 24,752.7 crore, up 9.06% YoY and 1.12% QoQ. Consolidated net profit of Rs 3,199.7 crore, down 1.9% YoY and about 4.7% QoQ. H1 FY27 revenue is Rs 49,231.3 crore and H1 profit is Rs 6,556 crore. I could not find the IT services margin, dollar growth or Q3 guidance in my sources, so those are flagged.
Quick Answer
Wipro Q2 FY27 revenue from operations was Rs 24,752.7 crore, up 9.06% from Rs 22,697.3 crore a year ago and up 1.12% from the June quarter. Consolidated net profit was Rs 3,199.7 crore, down 1.9% year on year from Rs 3,262.4 crore and about 4.7% lower than the June quarter, which is why some outlets lead with a fall of 4.5% to 4.7% QoQ. Wipro Q2 revenue growth matched brokerage previews of about 9%, but profit growth did not hold, and the profit margin on revenue fell to about 12.9% from about 14.4% a year ago (my calculation). I could not find the IT services operating margin, dollar revenue growth or the Q3 guidance, and those three items will decide the share price reaction.
Wipro Q2 results came on Thursday 15 October 2026, a day after the stock traded near Rs 170. Revenue rose, but profit slipped, so the headline reads as mixed.
This article explains the Wipro Q2 numbers, compares them with the June quarter and brokerage previews, lists what the company guided for in Q2 and flags what I could not verify. It is not a recommendation to buy or sell.
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Wipro Q2 FY27 Results at a Glance
| Metric | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue from operations | Rs 24,752.7 crore | Rs 22,697.3 crore | Up 9.06% YoY; up 1.12% QoQ |
| IT services revenue | Rs 24,667 crore | Not found | Main contributor to revenue |
| Consolidated net profit | Rs 3,199.7 crore | Rs 3,262.4 crore | Down 1.9% YoY; down about 4.7% QoQ |
| Net profit margin (my calculation) | About 12.9% | About 14.4% | Down about 1.4 points |
Some data sites quote Wipro Q2 net profit as Rs 3,200.6 crore and others as Rs 3,201 crore, so the figure varies by about Rs 1 crore. I use Rs 3,199.7 crore from the filed result. The headline’s 2% is the YoY fall, and the 4.5% to 4.7% in other reports is the QoQ fall. The net margin of about 12.9% is a simple ratio of profit to revenue (my calculation), and it is not the IT services operating margin that the company reports.
Risk: Wipro Q2 revenue growth of 9% looks strong, but part of it may come from acquisitions, and I could not find the organic growth rate.
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Wipro Q2: Half Year and Sequential Trend
| Period | Revenue | Net profit |
|---|---|---|
| Q1 FY27 (my calculation from H1 less Q2) | About Rs 24,478.6 crore | About Rs 3,356.3 crore |
| Q2 FY27 | Rs 24,752.7 crore | Rs 3,199.7 crore |
| H1 FY27 | Rs 49,231.3 crore | Rs 6,556 crore |
| H1 FY26 | Rs 44,831.9 crore | Rs 6,598.9 crore |
H1 FY27 revenue is about 9.8% above H1 FY26 and H1 profit is about 0.65% below it (my calculations). That is a business growing on the top line but not yet at the bottom line, and the gap is the margin.
In the June quarter, IT services revenue was 2,614.5 million dollars, down 1.4% QoQ, with an IT services operating margin of 16.0%, down 1.3 points QoQ. Large deal bookings were 1,626 million dollars, with 13 large deals, and attrition was 13.9%. That sets the base for Wipro Q2.
Risk: At Wipro Q2, a fall in profit while revenue rises usually means higher costs or lower margin, and the filed numbers alone do not show which.
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Wipro Q2 vs Guidance and Brokerage Previews
| Item | What was expected | What I found |
|---|---|---|
| Q2 IT services revenue guidance (June) | $2,574 million to $2,627 million, or -1.5% to +0.5% in constant currency | Actual dollar revenue not found |
| Revenue growth YoY | About 9% (brokerage previews) | 9.06% reported |
| Profit change YoY | About 2% (brokerage previews, direction unclear in the headline) | Down 1.9% reported |
| IT services revenue QoQ | -0.5% to -1.4% in constant currency (Motilal Oswal, JM Financial, Jefferies, Nuvama, Emkay) | Not found |
| IT services margin | Up 20 to 50 bps (Emkay, Motilal Oswal, Jefferies, Nuvama) | Not found |
| Q3 guidance | -2% to 0% (Emkay, Nuvama); -1.5% to +0.5% (Jefferies) | Not found |
For Wipro Q2, brokerages expected IT services revenue to fall slightly QoQ in constant currency, so the reported rupee revenue rise of 1.12% may reflect the currency and acquisitions. Motilal Oswal expected the IT services margin to rise 40 bps to 16.4%.
The Q3 guidance is the most important number in any Wipro Q2 result, because it sets the revenue range for the December quarter. I could not find it in the sources I reached, so check Wipro’s earnings release.
Risk: A weak Q3 guidance can move the stock more than the Q2 numbers, as happened in past quarters.
Wipro Share Price and Buyback Note
| Item | Detail |
|---|---|
| Share price before results | About Rs 170.35 on NSE at 1:05 pm on 14 Oct 2026, up 1.35% |
| Share price reaction to results | Not found at the time of writing |
| Buyback in the result note | 600 million shares at Rs 250 each, a cash outflow of Rs 15,050.8 crore, cutting paid-up equity by Rs 120 crore |
| Auditor opinion | Unmodified, from Deloitte Haskins and Sells LLP |
The buyback appears in the notes to the results, and I could not confirm when it was completed. At Rs 250 it was about 47% above the Rs 170.35 price on 14 October (my calculation), so it is a past event and not a guide to the current price.
Risk: I do not have the share price reaction to the Wipro Q2 result, so check the live price before acting.
What to Watch Next After Wipro Q2
- The Q3 FY27 revenue guidance in constant currency
- IT services operating margin against 16.0% in Q1
- Large deal bookings against 1,626 million dollars in Q1
- Attrition against 13.9% in Q1
- Brokerage target price changes after the results
Conclusion
Wipro Q2 shows revenue up 9% but profit down about 2% YoY, with the net margin down about 1.4 points. The dollar growth, IT services margin and Q3 guidance will decide the view on Wipro Q2, so read the earnings release before you act.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What were the Wipro Q2 FY27 results?
Ans. Revenue from operations was Rs 24,752.7 crore, up 9.06% YoY, and consolidated net profit was Rs 3,199.7 crore, down 1.9% YoY.
Why do some reports say Wipro profit fell 4.5%?
Ans. Those reports compare with the June quarter. Net profit fell about 4.7% QoQ, while the YoY fall is 1.9%.
What was Wipro Q2 revenue growth QoQ?
Ans. Revenue from operations rose 1.12% from the June quarter in rupees. I could not find the constant currency IT services growth.
What was the Wipro Q2 guidance?
Ans. In June it guided IT services revenue of 2,574 million to 2,627 million dollars, or -1.5% to +0.5% in constant currency.
What is the Wipro Q3 guidance?
Ans. I could not find it in the sources I reached. Brokerages expected a range of about -2% to +0.5%, so check the earnings release.
What was Wipro’s H1 FY27 profit?
Ans. H1 FY27 net profit was Rs 6,556 crore against Rs 6,598.9 crore in H1 FY26, and H1 revenue was Rs 49,231.3 crore against Rs 44,831.9 crore.
What was the Wipro share price before the Wipro Q2 results?
Ans. It traded at about Rs 170.35 on NSE at 1:05 pm on 14 October 2026, up 1.35%. I did not find the reaction after the results.
Is this article investment advice?
Ans. No. It is educational and not a recommendation to buy or sell.
