New Labour Codes drag Wipro’s Q3 net profit to Rs 3,119 crore

New Delhi, Jan 16 (PTI) IT services major Wipro on Friday reported a 7 per cent decline in consolidated net profit to Rs 3,119 crore in the third quarter of FY26, weighed by a one-time provisional impact of Rs 302.8 crore due to the implementation of new Labour Codes.

The Bengaluru-headquartered company had posted a net profit (attributable to equity holders of the company ) of Rs 3,353.8 crore in the year-ago period.

Wipro's revenue from operations increased 5.5 per cent to Rs 23,555.8 crore in Q3 FY26 compared to Rs 22,318.8 crore in the year-ago period.

On a quarter-on-quarter basis, Wipro’s profit fell 3.9 per cent while revenue rose 3.7 per cent.

"In Q3, we delivered broad-based growth in line with our expectations. 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," Wipro CEO and MD Srini Pallia said.

Larger rivals TCS, Infosys and HCLTech have also registered a significant impact from the implementation of new Labour Codes in their Q3 numbers. Earlier this week, TCS said the rollout of the new labour codes in Q3 FY26 resulted in a statutory impact of Rs 2,128 crore, while Infosys took a hit of Rs 1,289 crore during the quarter.

HCLTech also disclosed a one-time provision of USD 82 million (about Rs 719 crore) linked to the implementation.

The Wipro scrip settled at Rs 267.25 apiece on the BSE on Friday, 2.73 per cent higher than the previous close. PTI ANK ANK BAL BAL