Large deal booking at $2.9Bn, grew 90.5% YoY, overall deal bookings at $4.7Bn
Revenue grew 0.3% QoQ in CC terms; Net income growth of 1.2% YoY
Q2'26 adjusted operating margin at 17.2%, expands 0.4% YoY
Operating cash flows at 103.8% of net income
EAST BRUNSWICK, N.J. & BANGALORE, India--(BUSINESS WIRE)--October 16, 2025--
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended September 30, 2025.
Highlights of the Results
Results for the Quarter ended September 30, 2025:
1. Gross revenue at Rs 227.0 billion ($2,556.6 million1), increase of 2.5%
QoQ and 1.8% YoY.
2. IT services segment revenue was at $2,604.3 million, increase of 0.7%
QoQ and decrease of 2.1% YoY.
3. Non-GAAP2 constant currency IT Services segment revenue increased 0.3%
QoQ and decreased 2.6% YoY.
4. Total bookings3 was at $4,688 million, down by 6.1% QoQ and up by 30.9%
YoY in constant currency2. Large deal bookings4 was at $2,853 million, an
increase of 6.7% QoQ and 90.5% YoY in constant currency2.
5. IT services operating margin5 for Q2'26 was 16.7%, impacted by a
provision of Rs 1,165 million ($13.1 million1) made with respect to
bankruptcy of a customer. Adjusted for this event, IT Services Margin for
the quarter was 17.2%, contraction of 0.1% QoQ and expansion of 0.4%
YoY.
6. Net income for the quarter was at Rs 32.5 billion ($365.6 million1),
decrease of 2.5% QoQ and increase of 1.2% YoY.
7. Earnings per share for the quarter at Rs 3.1 ($0.031), decrease of 2.5%
QoQ and increase of 1.0% YoY.
8. Operating cash flows of Rs 33.9 billion ($381.5 million1), decrease of
17.6% QoQ and 20.7% YoY and at 103.8% of Net Income for the quarter.
9. Voluntary attrition was at 14.9% on a trailing 12-month basis.
Outlook for the Quarter ending December 31, 2025
We expect revenue from our IT Services business segment to be in the range of $2,591 million to $2,644 million*. This translates to sequential guidance of (-)0.5% to (+)1.5% in constant currency terms. The guidance stated above does not include any expected revenue from the recently announced acquisition of Harman Digital Transformation Solutions.
*Outlook for the Quarter ending December 31, 2025, is based on the following exchange rates: GBP/USD at 1.35, Euro/USD at 1.16, AUD/USD at 0.65, USD/INR at 87.21 and CAD/USD at 0.72
Performance for the Quarter ended September 30, 2025
Srini Pallia, CEO and Managing Director, said "Our revenue momentum is strengthening, with Europe and APMEA returning to growth, and our operating margins holding steady within the narrow band. Bookings surpassed $9.5 billion for H1 FY26. Our strategy is clear: remain resilient, adapt to global shifts, and lead with AI. I am excited to bring Wipro Intelligence$(TM)$ to our clients, helping them scale confidently and shape the future in an AI-first world."
Aparna Iyer, Chief Financial Officer, said "We are gradually returning to growth trajectory with three of our four SMUs growing sequentially in Q2. All key financial parameters continue to remain strong. Our large deal bookings in the first two quarters have now surpassed the large deal booking for full year FY'25. Our adjusted margins for Q2 expanded by 0.4% YoY. EPS for the quarter grew 1% YoY. Lastly, our cash flow conversion continues to remain strong with operating cash flow at 104% of our net income for Q2."
1. For the convenience of the readers, the amounts in Indian Rupees in
this release have been translated into United States Dollars at the
certified foreign exchange rate of US$1 = Rs 88.78, as published by the
Federal Reserve Board of Governors on September 30, 2025. However, the
realized exchange rate in our IT Services business segment for the
quarter ended September 30, 2025, was US$1 = Rs 86.94
2. Constant currency for a period is the product of volumes in that period
times the average actual exchange rate of the corresponding comparative
period.
3. Total Bookings refers to the total contract value of all orders that
were booked during the period including new orders, renewals, and
increases to existing contracts. Bookings do not reflect subsequent
terminations or reductions related to bookings originally recorded in
prior fiscal periods. Bookings are recorded using then-existing foreign
currency exchange rates and are not subsequently adjusted for foreign
currency exchange rate fluctuations. The revenues from these contracts
accrue over the tenure of the contract. For constant currency growth
rates, refer note 2.
4. Large deal bookings consist of deals greater than or equal to $30
million in total contract value.
5. IT Services Operating Margin refers to Segment Results Total as
reflected in IFRS financials.
Highlights of Strategic Deal Wins
In Q2'26, Wipro continued to win large and strategic deals across industries. Key highlights include:
1. Wipro has secured a multi-year infrastructure modernization engagement
with a leading European financial institution. As part of this engagement,
Wipro will deliver centralized modernization services across compute,
database, middleware, network, and storage towers, enabling seamless
cloud migration and data center consolidation. This transformation will
help the client streamline operations, simplify infrastructure management,
accelerate digital initiatives, and achieve long-term operational and
cost efficiencies.
2. A prominent European utility provider selected Wipro to deploy a
Utilities CPQ (Configure, Price, Quote) solution aimed at transforming
customer engagement and operational workflows across its retail
divisions. Leveraging its trusted utilities industry presence, Wipro
Consulting worked extensively with the client to co-create a strategic
roadmap demonstrating the solution's architecture and value proposition.
This engagement is expected to drive faster growth and significantly
streamline the quote-to-cash process.
3. Wipro has secured a multi-year engagement with a leading U.S.
healthcare company, expanding a decade-long partnership. The engagement
spans new geographies and includes AI-driven modernization of health
insurance platforms to enable proactive care and smarter clinical
decisions. A large-scale cloud migration and transformation will enhance
scalability of solutions, optimize resource allocation, and strengthen
patient data protection for the client. Leveraging its deep healthcare
expertise and AI-infused delivery, Wipro is helping the client bring
innovation closer to members, providers, and employees. This win
reinforces Wipro's commitment to making healthcare accessible,
intelligent, and deeply human through technology.
4. A US-based global technology leader has awarded Wipro a strategic
engagement to scale its public cloud networking and storage
infrastructure. Through this engagement, Wipro will accelerate the
client's speed to market by expanding cloud capacity and streamlining the
migration of applications and services. By integrating AI-powered tools,
Wipro will reduce build-out cycle times, enhance infrastructure
reliability, and ensure high service availability--significantly
minimizing downtime and improving end-user experience.
5. In an AI-led new deal, Wipro will deploy a modular Agentic AI framework
for a leading UK-based financial services group to transform the way
payments data is analyzed and consumed. The solution, built on a flexible
cloud-native platform, will create data products such as intelligence
dashboards, predictive models, fraud detection alerts and compliance
reports. These data products will help the client to analyze complex
datasets in real-time, delivering instant insights to accelerate
decision-making across strategy, operations and compliance functions.
Wipro's Intelligent Agents will remove technical barriers, driving higher
user engagement and, thereby, significantly improving efficiencies
through faster and trusted insights.
6. A leading US-based healthcare payer has chosen Wipro as a strategic
technology partner to transform its operations across enrollment, billing,
and claims management process. By leveraging AI-powered delivery to
manage end-to-end member services, Wipro will help the client boost
productivity, improve agility, and deliver meaningful cost efficiencies.
The engagement also includes deploying a modular Agentic AI framework to
enhance provider support, streamline operations, and elevate customer
satisfaction.
7. A leading North American retailer has extended its contract with Wipro
to transform its services and operations portfolio. Wipro will implement
a scalable, AI-enabled delivery model to increase productivity,
streamline processes, and enhance customer satisfaction. The engagement
also focuses on consolidating service delivery and simplifying vendor
management, driving measurable gains in cost efficiency, operational
scale, and customer experience.
8. A global consumer health company has awarded Wipro a strategic AI-led
engagement to elevate service delivery and automate its invoice
processing. Through this deal, Wipro will deploy AI-powered invoice
automation platform to streamline data validation, automate invoice
indexing, and enable intelligent invoice handling. The solution will
reduce manual errors, enhance touchless processing, accelerate approval
process, and lower operational costs to boost efficiency, compliance, and
scalability.
9. A leading financial services provider in India has engaged Wipro to
modernize its digital banking platforms through a dedicated engineering
hub. Leveraging Wipro's deep domain expertise and proven delivery
capability, the solution included cloud infrastructure management,
platform engineering, and site reliability practices for the client
across mobile and online banking. This strategic transformation will
afford the client measurable improvements in customer experience, system
resilience, operational efficiency, and a future-ready technology stack.
10. Following the merger of four regional rural banks in India, Wipro was
selected to spearhead a strategic digital overhaul. With its strong
capabilities in banking technology, Wipro Consulting co-created a roadmap
with the client to transition over 1,500 branches to a unified core
banking system. This engagement is set to improve customer service
consistency, boost agility, and enable seamless enterprise-wide
integration.
11. Wipro has secured a strategic engagement with a leading European
telecom provider to modernize its digital and enterprise technology
landscape and drive IT simplification, automation, and AI-led
transformation. The project will be powered by Wipro's GenAI-powered
digital experience and self-service platforms, enabling proactive and
predictive IT operations, faster incident resolution, and improved
service reliability. The engagement will also introduce Conversational AI
and autonomous operations. A dedicated design studio, led by Designit,
Wipro's experience innovation company, will serve as a hub for rapid
innovation, business ideation, and solutioning to reimagine the delivery
of transformative experiences. Through AI-led development and intelligent
automation, Wipro will help reduce overheads, boost agility, and unlock
sustained productivity.
12. A leading global financial services firm has renewed its strategic
engagement with Wipro to transform its enterprise operations and
technology landscape. Wipro will continue to deliver key technology
initiatives including application development and modernization,
infrastructure support, cybersecurity, and workflow orchestration. Wipro
will also automate and service middle and back-office operational
processes including global tax, client onboarding, accounting, treasury,
asset servicing, investor services, and portfolio reporting. This ongoing
initiative will establish a roadmap towards outcome-based managed
services, enabling improved performance and delivery quality, pricing
transparency, and a scalable global framework to support long-term
growth.
Analyst Recognition
1. Wipro was named as a Leader in IDC MarketScape: Worldwide IT and
Engineering Services for Software-Defined Vehicles 2025 Vendor Assessment
(Doc # US51813124 Sept 2025)
2. Wipro was recognized as a Leader in ISG Provider Lens(TM) - Network -
Software Defined Solutions and Services 2025 - US (multiple quadrants)
3. Wipro was ranked as a Leader in Avasant's Healthcare Payor Digital
Services 2025 RadarView(TM)
4. Wipro was named as a Leader in ISG Provider Lens(TM) - Cybersecurity -
Solutions and Services 2025 - US & UK (all quadrants)
5. Wipro was featured as a Horizon 3 - Market Leader in the HFS
Semiconductor Horizons: The Best of Service Providers across the Value
Chain, 2025 report.
6. Wipro was recognized as a Leader in Everest Group's Talent Readiness
for Next-generation Cloud Services PEAK Matrix$(R)$ Assessment 2025
7. Wipro was rated as a Leader in ISG Provider Lens(TM) - Google Cloud
Partner Ecosystem 2025 - US & Europe (all quadrants)
8. Wipro was positioned as a Leader in the 2025 Gartner(R) Magic
Quadrant(TM) for Public Cloud IT Transformation Services
9. Wipro was recognized as a Leader in Everest Group's Global Capability
Center $(GCC)$ Transformation Capabilities in India -- PEAK Matrix(R)
Assessment 2025
10. Wipro was ranked as a Leader in Avasant's Mortgage Business Process
Transformation 2025 RadarView(TM)
11. Wipro was rated as a Leader in Avasant's Utilities Digital Services
2025 RadarView(TM)
12. Wipro was positioned as a Leader in Everest Group's Digital Workplace
Services PEAK Matrix(R) Assessment 2025 -- Global
Source & Disclaimer: *Gartner, "Magic Quadrant for Public Cloud IT Transformation Services", Tobi Bet, et al, 4 August 2025.
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.
Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner's research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
The Gartner content described herein (the "Gartner Content") represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this press release, and the opinions expressed in the Gartner Content are subject to change without notice.
IT Products
1. IT Products segment revenue for the quarter was Rs 1.1 billion ($12.7
million1)
2. IT Products segment results for the quarter were Rs 0.1 billion ($1.1
million1)
Please refer to the table at the end for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis.
About Key Metrics and Non-GAAP Financial Measures
This press release contains key metrics and non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical or future performance, financial position or cash flows that are adjusted to exclude or include amounts that are excluded or included, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS.
The table at the end provides IT Services Revenue on a constant currency basis, which is a non-GAAP financial measure that is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior reporting period. We refer to growth rates in constant currency so that business results may be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Further, in the normal course of business, we may divest a portion of our business which may not be strategic. We refer to the growth rates in both reported and constant currency adjusting for such divestments in order to represent the comparable growth rates.
Our key metrics and non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, the most directly comparable financial measure calculated in accordance with IFRS and may be different from non-GAAP measures used by other companies. Our key metrics and non-GAAP financial measures are not comparable to, nor should be substituted for, an analysis of our revenue over time and involve estimates and judgments. In addition to our non-GAAP measures, the financial statements prepared in accordance with IFRS and the reconciliation of these non-GAAP financial measures with the most directly comparable IFRS financial measure should be carefully evaluated.
Results for the Quarter ended September 30, 2025, prepared under IFRS, along with individual business segment reports, are available in the Investors section of our website www.wipro.com/investors/
Quarterly Conference Call
We will hold an earnings conference call today at 07:00 p.m. Indian Standard Time (8:30 a.m. U.S. Eastern Time) to discuss our performance for the quarter. The audio from the conference call will be available online through a webcast and can be accessed at the following link- https://links.ccwebcast.com/?EventId=WIP16102025
An audio recording of the management discussions and the question-and-answer session will be available online and will be accessible in the Investor Relations section of our website at www.wipro.com
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com
Forward-Looking Statements
The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, the benefits its customers experience and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.
Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Rs in millions, except share and per share data, unless otherwise
stated)
As at March 31,
2025 As at September 30, 2025
--------------- --------------------------
Convenience
translation
into U.S.
Dollar in
millions
(unaudited) at
the rate of Rs
88.78
--------------- --------- ---------------
ASSETS
Goodwill 325,014 339,417 3,823
Intangible assets 27,450 25,108 283
Property, plant
and equipment 80,684 79,067 891
Right-of-Use
assets 25,598 28,079 316
Financial assets
Derivative
assets ^ - -
Investments 26,458 42,831 483
Trade
receivables 299 638 7
Other
financial
assets 4,664 4,821 54
Investments
accounted for
using the equity
method 1,327 1,586 18
Deferred tax
assets 2,561 3,692 42
Contract assets - 1,728 19
Non-current tax
assets 7,230 6,398 72
Other non-current
assets 7,460 7,974 90
--------------- --------- ---------------
Total non-current
assets 508,745 541,339 6,098
--------------- --------- ---------------
Inventories 694 740 8
Financial assets
Derivative
assets 1,820 17 ^
Investments 411,474 380,582 4,287
Cash and cash
equivalents 121,974 130,837 1,474
Trade
receivables 117,745 118,626 1,336
Unbilled
receivables 64,280 74,475 839
Other
financial
assets 8,448 8,919 100
Contract assets 15,795 14,982 169
Current tax
assets 6,417 8,617 97
Other current
assets 29,128 31,541 355
--------------- --------- ---------------
Total current assets 777,775 769,336 8,665
--------------- --------- ---------------
TOTAL ASSETS 1,286,520 1,310,675 14,763
--------------- --------- ---------------
EQUITY
Share capital 20,944 20,968 236
Share premium 2,628 5,144 58
Retained earnings 716,477 731,071 8,235
Share-based
payment reserve 6,985 6,169 69
Special Economic
Zone
Re-investment
reserve 27,778 26,596 300
Other components
of equity 53,497 70,766 797
--------------- --------- ---------------
Equity attributable
to the equity
holders of the
Company 828,309 860,714 9,695
Non-controlling
interests 2,138 1,906 21
--------------- --------- ---------------
TOTAL EQUITY 830,447 862,620 9,716
--------------- --------- ---------------
LIABILITIES
Financial
liabilities
Loans and
borrowings 63,954 - -
Lease
liabilities 22,193 25,119 283
Derivative
liabilities - 4 ^
Other
financial
liabilities 7,793 5,503 62
Deferred tax
liabilities 16,443 15,189 171
Non-current tax
liabilities 42,024 41,010 462
Other non-current
liabilities 17,119 20,031 226
Provisions 294 228 3
--------------- --------- ---------------
Total non-current
liabilities 169,820 107,084 1,207
--------------- --------- ---------------
Financial
liabilities
Loans,
borrowings
and bank
overdrafts 97,863 128,507 1,447
Lease
liabilities 8,025 8,011 90
Derivative
liabilities 968 4,696 53
Trade payables
and accrued
expenses 88,252 89,171 1,004
Other
financial
liabilities 3,878 6,084 69
Contract
liabilities 20,063 21,315 240
Current tax
liabilities 34,481 47,937 540
Other current
liabilities 31,086 33,803 381
Provisions 1,637 1,447 16
--------------- --------- ---------------
Total current
liabilities 286,253 340,971 3,840
--------------- --------- ---------------
TOTAL LIABILITIES 456,073 448,055 5,047
--------------- --------- ---------------
TOTAL EQUITY AND
LIABILITIES 1,286,520 1,310,675 14,763
--------------- --------- ---------------
^ Value is less than
0.5
----------------------- --------------- --------- ---------------
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Rs in millions, except share and per share data, unless otherwise stated)
Three months ended September 30, Six months ended September 30,
------------------------------------------------------- -------------------------------------------------------
2024 2025 2025 2024 2025 2025
--------------- --------------- --------------------- --------------- --------------- ---------------------
Convenience Convenience
translation into US translation into U.S.
dollar in millions Dollar in millions
(unaudited) at the (unaudited) at the
rate of Rs 88.78 rate of Rs 88.78
-------------- -------------- --------------------- -------------- -------------- ---------------------
Revenues 223,016 226,973 2,557 442,654 448,319 5,050
Cost of revenues (155,049) (159,832) (1,800) (308,355) (317,079) (3,572)
-------------- -------------- -------------- ---- -------------- -------------- -------------- ----
Gross profit 67,967 67,141 757 134,299 131,240 1,478
Selling and
marketing
expenses (17,388) (14,920) (168) (33,232) (30,205) (340)
General and
administrative
expenses (13,034) (14,950) (168) (27,247) (28,222) (318)
Foreign exchange
gains/(losses),
net (396) 558 6 (602) 740 8
-------------- -------------- -------------- ----- -------------- -------------- -------------- -----
Results from
operating
activities 37,149 37,829 427 73,218 73,553 828
Finance expenses (3,569) (3,612) (41) (6,857) (7,220) (81)
Finance and
other income 9,195 8,455 95 16,675 18,872 213
Share of net
profit/ (loss)
of associate
and joint
venture
accounted for
using the
equity method 3 152 2 (42) 202 2
-------------- -------------- -------------- ----- -------------- -------------- -------------- -----
Profit before tax 42,778 42,824 483 82,994 85,407 962
Income tax
expense (10,512) (10,200) (115) (20,362) (19,418) (219)
-------------- -------------- -------------- ---- -------------- -------------- -------------- ----
Profit for the
period 32,266 32,624 368 62,632 65,989 743
-------------- -------------- -------------- ----- -------------- -------------- -------------- -----
Profit attributable
to:
Equity holders
of the Company 32,088 32,462 366 62,120 65,766 741
Non-controlling
interests 178 162 2 512 223 2
-------------- -------------- -------------- ----- -------------- -------------- -------------- -----
Profit for the
period 32,266 32,624 368 62,632 65,989 743
-------------- -------------- -------------- ----- -------------- -------------- -------------- -----
Earnings per equity
share:
Attributable to
equity holders of
the Company
Basic 3.07 3.10 0.03 5.94 6.28 0.07
Diluted 3.06 3.09 0.03 5.93 6.26 0.07
Weighted average
number of equity
shares
used in computing
earnings per
equity share
Basic 10,453,511,270 10,475,705,330 10,475,705,330 10,452,889,238 10,474,157,025 10,474,157,025
Diluted 10,482,157,874 10,496,319,658 10,496,319,658 10,479,772,816 10,495,032,480 10,495,032,480
------------------- -------------- -------------- -------------- ----- -------------- -------------- -------------- -----
Information on reportable segments for the three months ended September 30, 2025, June 30, 2025, September 30, 2024, six months ended September 30, 2025, September 30, 2024, and year ended March 31, 2025 are as follows:
Year
Particulars Three months ended Six months ended ended
--------------- ----------------------------- -------------------- --------
June March
September 30, September September September 31,
30, 2025 2025 30, 2024 30, 2025 30, 2024 2025
--------------- --------- ------- --------- --------- --------- --------
Audited Audited Audited Audited Audited Audited
--------------- --------- ------- --------- --------- --------- --------
Segment revenue
IT Services
Americas 1 74,821 73,097 68,393 147,918 136,093 281,824
Americas 2 67,011 67,070 67,932 134,081 135,270 271,972
Europe 59,531 56,817 61,821 116,348 122,243 240,077
APMEA 25,042 23,816 23,811 48,858 47,314 94,351
--------- ------- --------- --------- --------- --------
Total of IT
Services 226,405 220,800 221,957 447,205 440,920 888,224
IT Products 1,126 728 663 1,854 1,132 2,692
--------------- --------- ------- --------- --------- --------- --------
Total segment
revenue 227,531 221,528 222,620 449,059 442,052 890,916
--------------- --------- ------- --------- --------- --------- --------
Segment result
IT Services
Americas 1 15,435 14,994 13,338 30,429 27,025 58,186
Americas 2 13,122 13,385 15,005 26,507 30,538 61,326
Europe 6,962 6,026 7,821 12,988 13,694 29,434
APMEA 3,308 2,979 3,070 6,287 5,511 12,850
Unallocated (1,018) 750 (1,912) (268) (3,389) (10,157)
--------- ------- --------- --------- --------- --------
Total of IT
Services 37,809 38,134 37,322 75,943 73,379 151,639
IT Products 101 20 (183) 121 (230) (173)
Reconciling
Items (81) (2,430) 10 (2,511) 69 (195)
--------------- --------- ------- --------- --------- --------- --------
Total segment
result 37,829 35,724 37,149 73,553 73,218 151,271
--------------- --------- ------- --------- --------- --------- --------
Finance
expenses (3,612) (3,608) (3,569) (7,220) (6,857) (14,770)
Finance and
other income 8,455 10,417 9,195 18,872 16,675 38,202
Share of net
profit/ (loss)
of associate
and joint
venture
accounted for
using the
equity method 152 50 3 202 (42) 254
--------------- --------- ------- --------- --------- --------- --------
Profit before
tax 42,824 42,583 42,778 85,407 82,994 174,957
--------------- --------- ------- --------- --------- --------- --------
Additional Information:
The Company is organized into the following operating segments: IT Services and IT Products.
IT Services: The IT Services segment primarily consists of IT services offerings to customers organized by four Strategic Market Units ("SMUs") - Americas 1, Americas 2, Europe and Asia Pacific Middle East and Africa ("APMEA"). Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries.
Americas 1 includes the entire business of Latin America ("LATAM") and the following industry sectors in the United States of America: Communications, media and information services, Software and gaming, New age technology, Consumer goods, medical devices and life sciences, Healthcare, and Technology products and services. Americas 2 includes the entire business in Canada and the following industry sectors in the United States of America: Banking and financial services, Energy, Manufacturing and resources, Capital markets and insurance, and Hi-tech.
Europe consists of the United Kingdom and Ireland, Switzerland, Germany, Western Europe.
APMEA consists of Australia and New Zealand, India, Middle East, South-East Asia, Japan and Africa.
Revenue from each customer is attributed to the respective SMUs based on the location of the customer's primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer's buying centers, but the total revenue related to these strategic global customers are attributed to a single SMU based on the geographical location of key decision makers.
IT Products: The Company is a value-added reseller of security, packaged and SaaS software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to these items is reported as revenue from the sale of IT Products.
Reconciliation of selected GAAP measures to Non-GAAP measures
1. Reconciliation of Non-GAAP Constant Currency IT Services Revenue to IT Services Revenue as per IFRS ($Mn)
Three Months ended September 30, 2025
IT Services Revenue as per IFRS $2,604.3
Effect of Foreign currency exchange movement ($10.1)
--------
Non-GAAP Constant Currency IT Services Revenue
based on previous quarter exchange rates $2,594.2
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Three Months ended September 30, 2025
IT Services Revenue as per IFRS $2,604.3
Effect of Foreign currency exchange movement ($13.5)
--------
Non-GAAP Constant Currency IT Services Revenue
based on exchange rates of comparable period in previous year $2,590.8
---------------------------------------------------------------- --------
2. Reconciliation of Free Cash Flow for three months and six months ended September 30, 2025
Amounts In INR Mn
--------------------------------------- ------------------ -----------------
Three months ended Six months ended
Sept 30, 2025 Sept 30, 2025
--------------------------------------- ------------------ -----------------
Profit for the period [A] 32,624 65,989
--------------------------------------- ------------------ -----------------
Computation of Free Cash Flow
--------------------------------------- ------------------ -----------------
Net cash generated from operating
activities [B] 33,872 74,991
--------------------------------------- ------------------ -----------------
Add/ (deduct) cash inflow/
(outflow)on:
--------------------------------------- ------------------ -----------------
Purchase of property, plant and
equipment (3,372) (6,114)
--------------------------------------- ------------------ -----------------
Proceeds from sale of property, plant
and equipment 666 678
--------------------------------------- ------------------ -----------------
Free Cash Flow [C] 31,166 69,555
--------------------------------------- ------------------ -----------------
Operating Cash Flow as percentage of
Net Income [B/A] 103.8% 113.6%
--------------------------------------- ------------------ -----------------
Free Cash Flow as percentage of Net
Income [C/A] 95.5% 105.4%
--------------------------------------- ------------------ -----------------
3. Reconciliation of Adjusted Segment Results (Three Months ended September 30, 2025)
Amount in INR Mn Operating Margin
----------------------------------------- ---------------- ----------------
IT Services Segment Results 37,809 16.7%
Effect of impact of customer bankruptcy 1,165 -
Adjusted IT Services Segment Results 38,974 17.2%
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View source version on businesswire.com: https://www.businesswire.com/news/home/20251016051874/en/
CONTACT: Contact for Investor Relations
Abhishek Jain
Phone: +91-80-6142 6143
abhishek.jain2@wipro.com
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media-relations@wipro.com
(END) Dow Jones Newswires
October 16, 2025 09:20 ET (13:20 GMT)