Wipro (NYSE: WIT) Reports Mixed Q2 Fiscal 2027 Results as Margins Improve

• Wipro (NYSE: WIT) reported earnings per share of $0.03, up 4.2% year over year.
• Gross revenue reached ₹247.5 billion, or approximately $2.58 billion, while IT services revenue was $2.61 billion.
• The IT services operating margin improved to 16.5%, although net income declined.

Wipro (NYSE: WIT), a global technology services and consulting company, reported results for its second quarter of fiscal 2027 on October 15, 2026. The quarter ended September 30, 2026.

Gross revenue was ₹247.5 billion, increasing 1.1% quarter over quarter and 9.1% year over year. Wipro converted this amount to approximately $2.58 billion using the September 30 exchange rate of ₹95.83 per dollar. Earnings per share were ₹3.23, or approximately $0.03, up 4.2% from a year earlier. 

IT services revenue was $2.61 billion. Although this dollar figure appears higher than total gross revenue, the two amounts were calculated using different exchange rates. Wipro used its realized quarterly exchange rate of ₹94.45 per dollar for IT services revenue. At that rate, IT services revenue was approximately ₹246.7 billion—slightly below total gross revenue of ₹247.5 billion. 

IT services revenue was nearly flat quarter over quarter and increased 0.6% year over year in constant currency. The segment’s operating margin rose 50 basis points sequentially to 16.5%.

Net income was ₹32.0 billion, or approximately $333.9 million. It declined 4.7% from the previous quarter and 1.9% from a year earlier, partly because of higher wage and subcontracting costs.

Wipro expects third-quarter IT services revenue of $2.57 billion to $2.63 billion, representing a sequential constant-currency change of between negative 1.5% and positive 0.5%.