IT major Wipro on Thursday reported a 1.4% year-on-year decline in its net profit to Rs 3,201 crore in the second quarter of FY27 (Q2FY27), while it fell 4.7% sequentially from Q1FY27. The company’s gross revenue rose 9.1% year-on-year to Rs 24,752.7 crore in Q2FY27. On a sequential basis, revenue slipped 1.1%.

Revenue from the IT services segment increased 0.3% year-on-year to $2,611.5 million.

IT services segment revenue, in non-GAAP constant currency terms, rose 0.6% year-on-year, while it remained flat sequentially.

Total bookings stood at $2,595 million, down 22.9% sequentially in constant currency terms. Large deal bookings declined 58.6% quarter-on-quarter in constant currency terms to $674 million.

The IT services operating margin stood at 16.5% in Q2FY27, down 0.2 percentage points year-on-year, while it expanded 0.5 percentage points sequentially.

Earnings per share rose 4.2% year-on-year to Rs 3.23 in Q2FY27. On a quarter-on-quarter basis, EPS rose 0.9%.

Operating cash flows stood at Rs 5,300 crore, up 61.3% sequentially, and amounted to 165.8% of net profit for the quarter.

Voluntary attrition stood at 13.8% on a trailing 12-month basis.

For Q3FY27, Wipro expects revenue from its IT services business to range between $2,571 million and $2,625 million, implying sequential growth of -1.5% to 0.5% in constant currency terms.

Srini Pallia, CEO and Managing Director of Wipro, said the company’s strategic investments were beginning to deliver results by helping it win new markets, add clients and expand existing relationships.

He added that the company’s consulting-led, AI-powered strategy was creating larger transformation opportunities, with artificial intelligence expected to be a long-term growth driver for technology and business transformation.

Aparna Iyer, Chief Financial Officer of Wipro, said the company expanded its operating margin by 0.5 percentage points sequentially to 16.5% despite continued investments in its business and workforce.

She added that operating cash flow remained robust at 166% of net profit in Q2FY27.

Wipro shares ended Thursday’s trading session at Rs 174.05 apiece, up 1.82% from the previous close of Rs 170.92, according to NSE data.

Year-to-date, the stock has declined nearly 35%, according to NSE data.

At the current market price, Wipro’s total market capitalisation stood at Rs 1,72,402 crore.

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