Wipro Q2 profit inches up to Rs 3,246 crore; launches 'Wipro Intelligence' to boost AI push

New Delhi, Oct 16 (PTI) IT services firm Wipro on Thursday reported a marginal increase in consolidated net profit to Rs 3,246.2 crore in the July-September quarter, even as company CEO and MD Srini Pallia asserted that the demand environment remains robust with discretionary spends shifting towards AI-related projects.

Deepening its AI bet, the Bengaluru-headquartered firm introduced Wipro Intelligence, a unified suite of AI-powered platforms, solutions, and offerings, to tap extensively into the space, where it sees opportunities in consulting and advisory.

Wipro had reported a profit (attributable to equity holders of the company) of Rs 3,208.8 crore in the year-ago period, according to a regulatory filing.

Revenue from operations for the quarter under review rose by 1.7 per cent to Rs 22,697.3 crore compared to the same period of the last year.

Sequentially, profit fell by 2.5 per cent while revenue rose 2.5 per cent.

“If you look at the demand, there are three opportunities that we have: One is vendor consolidation and cost optimisation for our clients. That clearly continues. Second, as new demand picks up, which is in AI, clients want to move away from proof of concepts to actually implementing AI and agentic AI across the business process ,and also workflows.

“Third, AI is also creating new opportunities for us to be truly consulting-led in terms of AI advisory, data advisory ... I think those are the new opportunities that are generating. So, demand continues to be strong. Discretionary spend is moving more and more into AI-related projects,” Pallia said in the company’s earnings call.

Banking, Financial Services and Insurance (BFSI) brought in 34.3 per cent of the revenues, followed by Consumer (18.2 per cent), Energy, Manufacturing and Resources (17.4 per cent), Technology and Communications (15.6 per cent), and Health (14.5 per cent).

Wipro added 2,260 employees during the quarter, bringing its total employee count to 235,492.

Company CHRO Saurabh Govil did not give a definite number on hiring in the coming quarters but said the company will continue to hire and go to campuses based on demand.

On H1B visas, Govil said nearly 80 per cent of Wipro’s US employee base are locals, and the company expects to see limited impact.

Wipro’s IT services segment revenue stood at USD 2,604.3 million, a decline of 2.1 per cent year-on-year.

IT services operating margin for Q2 FY26 at 16.7 per cent was impacted by a provision of Rs 1,165 million (USD 13.1 million) made with respect to bankruptcy of a customer, Wipro said.

For the next quarter, ending December 31, 2025, Wipro has guided revenue in its IT Services business segment to be in the range of USD 2,591 million to USD 2,644 million, translating into a sequential guidance of (-)0.5 per cent to (+)1.5 per cent in constant currency terms. The guidance does not include any expected revenue from the recently announced acquisition of Harman Digital Transformation Solutions.

"We continue to see momentum in BFSI with our clients prioritising on cost optimisation, vendor consolidation, legacy modernisation, and of course, deployment of agentic AI.

"Tariff uncertainties continue to impact consumer, energy and manufacturing sectors, leading our customers to re-evaluate their supply chains. In technology and communications, the focus is on accelerating AI adoption, and also developing industry-specific solutions with cost optimisation remaining central to them," Pallia said.

Wipro's total bookings during the quarter, standing at USD 4.7 billion, were up 30.9 per cent year-on-year in constant currency terms. These included 13 large deals, and 2 mega deal renewals in the BFSI and healthcare segment. PTI ANK MR