Wipro announced its second quarter results with mixed signals. The company reported a net profit of ₹3,200 crore, which is 2% lower compared to the same quarter last year. Sequentially, profit also fell by 4.6%. On the positive side, revenue rose 9% year on year to ₹24,753 crore, showing steady growth in business activity.
IT services revenue stood at ₹24,667 crore, marking a 1% increase. In dollar terms, revenue was $2,611.5 million, almost flat compared to the previous quarter. For the upcoming quarter, Wipro expects IT services revenue between $2,571 million and $2,625 million, indicating growth between minus 1.5% and plus 0.5% in constant currency terms.
Regionally, Europe performed well with 5.1% growth in constant currency, contributing more than one fourth of overall business. The company also highlighted partnerships with Anthropic and Google to strengthen its artificial intelligence offerings.
Operating margin improved slightly to 16.5%, up 0.5 percentage points from the previous quarter. Cash flow conversion remained strong at 166% of net income.
However, deal bookings showed weakness. Total bookings fell to $2.6 billion from $4.7 billion last year. Large deal bookings dropped sharply to $0.7 billion, down nearly 59% quarter on quarter.
Overall, Wipro delivered revenue growth but faced profit pressure and weaker deal momentum, raising caution for the coming quarters.
