Wipro Q2 FY26: Large Deal Bookings Jump 90% YoY, Revenue Steady Amid Global IT Headwinds

Wipro Limited on Thursday reported its financial results for the quarter ended September 30, 2025, showing strong large deal momentum and steady revenue growth despite global IT market headwinds.

The company booked total deals worth $4.69 billion in Q2 FY26, marking a 30.9% year-on-year (YoY) increase in constant currency terms, though down 6.1% sequentially. Large deal bookings, a key growth driver, surged 90.5% YoY to $2.85 billion, and grew 6.7% quarter-on-quarter (QoQ).

Revenue for the quarter reached ₹227.0 billion ($2,556.6 million), up 2.5% QoQ and 1.8% YoY. Wipro’s IT Services segment generated $2,604.3 million in revenue, up 0.7% QoQ but down 2.1% YoY, with constant currency growth of 0.3% QoQ.

Adjusted operating margins for the IT Services segment stood at 17.2%, expanding 0.4% YoY, while the reported margin was impacted by a ₹1,165 million provision related to a customer bankruptcy. Net income grew 1.2% YoY to ₹32.5 billion ($365.6 million), with earnings per share at Rs 3.1 ($0.031), up 1% YoY.

Also Read: Wipro Q1 FY26 Results: Net Profit Rises 11% YoY To Rs 3,330 Crore; Declares Rs 5 Interim Dividend - Check Record Date | Republic World

Operating cash flows were robust at ₹33.9 billion ($381.5 million), representing 103.8% of net income. Voluntary attrition for the trailing 12 months remained at 14.9%.

Commenting on the results, CEO Srini Pallia said, “Our revenue momentum is strengthening, with Europe and APMEA returning to growth. Bookings surpassed $9.5 billion for H1 FY26. We remain resilient, adapt to global shifts, and lead with AI.” CFO Aparna Iyer added, “Adjusted margins expanded 0.4% YoY, and cash flow conversion remains strong with operating cash flow at 104% of net income.”

Looking ahead, Wipro expects IT Services revenue for Q3 FY26 to range between $2,591 million and $2,644 million, translating to sequential growth of -0.5% to +1.5% in constant currency terms, excluding the impact of the recently announced Harman Digital Transformation Solutions acquisition.