Wipro Q3 Revenues Rise 3.8% to Rs 235.6 Bn; Adjusted Net Income Up 3.6%
Wipro’s Q3 gross revenue rose 3.8% QoQ to Rs 235.6 billion ($2.62 billion), with IT services revenue up 1.2% QoQ to $2.64 billion. Net income fell 3.9% QoQ to Rs 31.2 billion ($347 million), while adjusted net income increased 3.6% to Rs 33.6 billion ($374 million) and operating margin widened 0.9 pp to 17.6%.
1. Robust Q3 Financial Performance
Wipro 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% growth year-on-year. The IT services segment generated $2,635.4 million, up 1.2% QoQ and 0.2% YoY, while constant-currency IT revenue rose 1.4% QoQ despite a 1.2% YoY decline. Total bookings reached $3,335 million in constant currency, down 5.7% YoY, with large-deal bookings of $871 million, an 8.4% YoY decrease. IT services operating margin expanded by 0.9 percentage points sequentially to 17.6%, edging up 0.1 ppt from a year earlier. Net income stood at Rs 31.2 billion ($347.2 million), down 3.9% QoQ and 7.0% YoY, translating to EPS of Rs 2.98 ($0.031). When adjusted for labour code changes, net income rose 3.6% QoQ to Rs 33.6 billion and EPS increased 3.5% QoQ to Rs 3.21.
2. Strong Cash Flow and Dividend Declaration
Operating cash flows for the quarter reached Rs 42.6 billion ($474.1 million), up 25.7% QoQ and representing 135.4% of net income, underscoring robust working-capital management. Voluntary attrition on a trailing 12-month basis was 14.2%, reflecting improved workforce stability. The board declared an interim dividend of Rs 6 per share, bringing total payouts for the year to $1.3 billion, demonstrating the company’s commitment to returning capital to shareholders.
3. Positive Outlook Driven by AI and Strategic Wins
Management guided Q4 IT services revenue to range between $2,635 million and $2,688 million, implying 0–2.0% sequential growth in constant currency, 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. CEO Srini Pallia highlighted broad-based growth and traction in AI-enabled platforms, noting that Wipro Intelligence contributed to multiple deal wins. In Q3, Wipro secured engagements across technology, healthcare, manufacturing, facilities management, insurance, banking and airlines, including a major global technology leader renewing a decade-long trust and safety contract and a US health insurer expanding its PayerAI deployment—underscoring Wipro’s ability to leverage AI at scale to drive client value.