Wipro Q3 Revenue Up 5.5% YoY to Rs235.6 Billion; Margin Expands
Wipro reported Q3 revenue of Rs235.6 billion ($2.62 billion), up 3.8% sequentially and 5.5% year-on-year, driven by 1.2% sequential growth in its IT services segment. Net income declined 7.0% YoY to Rs31.2 billion and EPS fell 7.2% YoY to Rs2.98, while IT services margins expanded 90 bps sequentially to 17.6%.
1. Q3 Financial Performance
Wipro Limited reported gross revenue of Rs 235.6 billion ($2,622.0 million) for the quarter ended December 31, 2025, marking a 3.8% sequential increase and 5.5% year-on-year rise. IT services revenue stood at $2,635.4 million, up 1.2% sequentially and 0.2% year-on-year, while non-GAAP constant-currency IT services revenue grew 1.4% sequentially but declined 1.2% year-on-year. The operating margin for the IT services segment expanded by 90 basis points sequentially to 17.6%, up 10 basis points year-on-year. Net income was Rs 31.2 billion ($347.2 million), down 3.9% sequentially and 7.0% year-on-year, with earnings per share of Rs 2.98 reflecting similar declines. Adjusting for labour code impacts, net income rose 3.6% sequentially to Rs 33.6 billion ($374.3 million) and EPS increased to Rs 3.21, flat year-on-year.
2. Operating Cash Flow and Dividend Declaration
The company generated operating cash flow of Rs 42.6 billion ($474.1 million), up 25.7% sequentially and representing 135.4% of net income, underscoring strong working-capital management. In recognition of cash-flow strength, the Board approved an interim dividend of Rs 6 per share, bringing total payouts for the fiscal year to $1.3 billion.
3. Strategic Deal Wins
During Q3, Wipro secured several multi-year, large-deal contracts across industry verticals. Key wins included renewal of a decade-long engagement with a global technology leader to enhance trust and safety operations via AI and ML model training; expansion of a partnership with a US health insurer using the PayerAI platform for member enrolment services; and a mandate from a North American home-furnishings manufacturer to modernize enterprise applications with predictive insights and automation. Additional notable agreements were signed with a UK facilities management firm for AI-driven infrastructure transformation and with a European insurer for hybrid-cloud services, each leveraging Wipro Intelligence™ to drive efficiency and resilience.
4. Outlook for Q4
For the quarter ending March 31, 2026, Wipro expects IT services revenue in the range of $2,635 million to $2,688 million, implying flat to 2.0% sequential growth in constant-currency terms. Guidance assumes exchange rates of GBP/USD 1.33, EUR/USD 1.17, AUD/USD 0.65 and USD/INR 88.85.