Wipro Q3 Revenue Rises 3.8% to Rs235.6bn, Operating Margin Hits 17.6%
Wipro's Q3 revenue rose 3.8% sequentially to Rs235.6bn ($2.62bn), with IT services revenue up 1.2% to $2.64bn and operating margin expanding 0.9pp to 17.6%. Adjusted net income grew 3.6% QoQ to Rs33.6bn ($374m) and the company guided Q4 revenue of $2.635–2.688bn (0–2% growth).
1. Robust Q3 Financial Performance
Wipro reported gross revenue of Rs 235.6 billion for the quarter ended December 31, 2025, marking a 3.8% sequential and 5.5% year-on-year increase. IT services segment revenue stood at $2,635.4 million, up 1.2% sequentially and 0.2% annually, while non-GAAP constant-currency IT services revenue rose 1.4% quarter-on-quarter. Net income was Rs 31.2 billion, down 3.9% sequentially and 7.0% year-on-year, with earnings per share of Rs 2.98. Adjusting for labour code impact, net income improved to Rs 33.6 billion, up 3.6% sequentially, and EPS increased to Rs 3.21, flat year-on-year. Operating margins expanded 90 basis points sequentially to 17.6%, reflecting disciplined cost management.
2. Strong Cash Flow and Shareholder Returns
Operating cash flows grew 25.7% sequentially to Rs 42.6 billion, representing 135.4% of net income, underscoring effective working capital management. The Board declared an interim dividend of Rs 6 per share, contributing to a total annual payout of $1.3 billion. Voluntary attrition remained moderate at 14.2% on a trailing 12-month basis, supporting stable delivery capacity.
3. Strategic Deal Wins Across Verticals
In Q3, Wipro secured $3.34 billion in total bookings, including $871 million in large deals. Key wins include: renewal of a decade-long partnership with a global technology leader to enhance trust and safety operations; expansion of services with a US national health insurer via the PayerAI platform; modernization engagements with a North American household furnishings manufacturer and a UK facilities management company; and a multi-year digital workplace transformation for a leading European F&B company. These engagements leverage Wipro Intelligence™ for AI-driven automation and predictive analytics.
4. Q4 Guidance and Currency Assumptions
For the quarter ending March 31, 2026, Wipro expects IT services revenue between $2,635 million and $2,688 million, implying flat to 2.0% sequential constant-currency growth. This outlook is based on exchange rates of GBP/USD 1.33, EUR/USD 1.17, AUD/USD 0.65, USD/INR 88.85 and CAD/USD 0.72. Management remains focused on scaling AI-led offerings through WINGS and WEGA platforms to drive further revenue diversification and margin expansion.