Wipro Q3 FY26: Profit falls 7% to Rs 3,119 crore amid cost pressures; deal bookings stay strong

IT services major Wipro Ltd on Friday reported a 7% year-on-year decline in consolidated net profit to Rs 3,119 crore for the third quarter of FY26, impacted by cost pressures, including expenses related to labour code-linked adjustments.

The company’s revenue stood at Rs 23,378 crore during the October–December quarter. Deal activity remained healthy during the quarter, with total deal bookings of $3.3 billion. Large deal bookings accounted for $0.9 billion, indicating sustained traction in strategic contracts despite a challenging macro environment.

Wipro’s operating cash flow was strong at Rs 4,259 crore, representing 135.4% of net income for the quarter, underscoring robust cash generation. On a quarter-on-quarter basis, operating cash flow rose 25.7%, although it declined 13.6% compared with the year-ago period.

Employee attrition moderated further, with voluntary attrition at 14.2% on a trailing 12-month basis.

For the quarter ending March 31, 2026, Wipro guided revenue from its IT Services business in the range of $2,635 million to $2,688 million. This implies sequential growth of 0% to 2% in constant currency terms.

On the impact of labour codes, the company said that it faced an one-time gratuity expense stood at Rs 302.8 crore.

“In Q3, we delivered broad-based growth in line with our expectations,” said Srinivas Pallia, chief executive officer and managing director, Wipro. “As AI becomes a strategic imperative, Wipro Intelligence is emerging as a differentiator and contributed to several wins this quarter. We saw greater adoption of our AI-enabled platforms and solutions, scaled AI-led delivery through WINGS and WEGA, and expanded our innovation network across global locations.”