Wipro Q2 results: Net profit rises marginally to Rs 3,246 crore; revenue up 1.7%

IT services major Wipro reported a slight increase in consolidated net profit to Rs 3,246.2 crore for the July-September quarter, up from Rs 3,208.8 crore in the same period last year. Revenue from operations rose 1.7% year-on-year to Rs 22,697.3 crore, while sequentially, profit fell 2.5% even as revenue climbed 2.5%, PTI reported.Wipro CEO and MD Srini Pallia said the overall demand environment remains healthy, with discretionary spending increasingly directed towards AI initiatives. “Clients want to move away from proof of concepts to actually implementing AI and agentic AI across business processes and workflows. AI is also creating new opportunities for us to be truly consulting-led in terms of AI advisory, data advisory … These are the new opportunities that are generating. So, demand continues to be strong,” he said.The company’s IT services segment recorded revenue of USD 2,604.3 million, down 2.1% year-on-year. Operating margin for the segment stood at 16.7%, impacted by a provision of Rs 1,165 million (USD 13.1 million) related to a customer bankruptcy. Wipro has guided IT services revenue for the next quarter at USD 2,591–2,644 million, excluding anticipated contributions from its acquisition of Harman Digital Transformation Solutions.During the quarter, BFSI contributed 34.3% of revenues, followed by Consumer (18.2%), Energy, Manufacturing and Resources (17.4%), Technology and Communications (15.6%), and Health (14.5%). Total bookings rose 30.9% year-on-year in constant currency terms, including 13 large deals and two mega deal renewals.Wipro added 2,260 employees, taking total headcount to 235,492. CHRO Saurabh Govil said recruitment will continue based on demand, adding that about 80% of the company’s US workforce comprises local hires, which is expected to limit impacts from H1B visa regulations.Pallia noted sector-specific trends, saying BFSI clients are prioritising cost optimisation, vendor consolidation, and AI adoption. Meanwhile, tariff-related uncertainties have prompted clients in consumer, energy, and manufacturing sectors to re-evaluate supply chains, while technology and communications clients are accelerating AI deployment alongside industry-focused solutions.