Wipro on Thursday reported a modest 1.15 per cent year-on-year (YoY) rise in consolidated profit after tax (PAT) at Rs 3,246 crore for the quarter ended 30 September 2025 (Q2 FY26), compared to Rs 3,209 crore in the same period last year (Q2 FY25). Revenue grew 1.8 per cent YoY to Rs 22,697 crore, also registering a sequential growth of 2.53 per cent.
At the company’s Q2 FY26 press conference, CEO and Managing Director Srini Pallia noted the strength of Wipro’s demand pipeline despite substantial deal closures in the first half of the fiscal. “If I look at our pipeline in the first half of this year, we closed close to USD 9.5 billion worth of total contract value (TCV). With that booked already, we still have a robust pipeline. This is very important,” Pallia said answering a question from BW Businessworld.
He identified three key demand drivers: vendor consolidation and cost optimisation for clients; accelerating adoption of AI, particularly moving beyond proofs-of-concept (PoCs) )to full-scale implementations; and AI-led consulting opportunities in advisory, data strategy and change management to ensure reliable, secure and ethical deployment.
Pallia added that demand remains strong in the US, with clarity on discretionary spend expected as clients finalise their budgets in December and January.
On discretionary spending, Pallia observed that while there was no dramatic uptick, “more and more discretionary spend is moving into AI-related projects,” pointing to clients’ dual priorities of cost optimisation and technology-led transformation.
“Deal TCV remained healthy at USD 4.7 billion in Q2 (USD 9.5 billion in H1), with good traction in BFSI and healthcare. In our view, while deal activity remains robust, the pace of conversion continues to be a key monitorable,” noted Motilal Oswal Financial Services.
Pallia, during the press conference, said that Wipro’s priority now is execution of the deals it has won. “Execution is absolutely critical for us, and we will remain sharply focused on it. For every deal we take on, we must ensure a smooth transition for our clients and deliver with consistency from day one. Our goal is to stay firmly on track as we continue to transform and optimise outcomes for our customers,” he said.
Launch Of Wipro Intelligence
Wipro also unveiled Wipro Intelligence, a new unified suite of AI-powered platforms, solutions, and transformative offerings. Pallia described the initiative as “proof, not just promise,” aimed at helping clients scale confidently in an AI-first world.
“Wipro Intelligence strengthens our consulting-led approach, driving innovation and delivering measurable outcomes. It brings together advanced capabilities across both delivery and industry platforms. Our delivery platforms accelerate work from software development, cloud, and infrastructure to business process operations, while our industry platforms include more than 200 AI agents and platforms spanning multiple sectors,” Pallia said.
He cited examples of sector-specific solutions: AutoCortex for automotive, WealthAI for BFSI, and Payer AI for healthcare. Wipro is also working closely with partners, ventures and leading research institutions to help clients experiment, adapt and scale AI responsibly.
Client Wins And Top Accounts
Wipro continues to deepen engagement with its top clients, with nine of the 13 large deals booked this quarter coming from its top 100 clients. “There is a substantial portion of renewals, but there is also new opportunity to expand. We are very excited that we are continuing to win in our top hundred clients, which is core to our strategy,” said Aparna Iyer, CFO, Wipro.
She added that some of these deals will take multiple quarters to ramp up fully.
“Total deal bookings were strong at USD 4.7 billion 30.9 per cent YoY CC, but included significant renewal component. Revenue guidance of -0.5 per cent to +1.5 per cent for Q3 FY26 implies no material improvement in growth at mid-point (0.5 per cent QoQ CC) vs. Q2 at 0.3 per cent QoQ CC, despite support from ramp-up of Phoenix deal (EU 500 million) from Q3 as Wipro is factoring in normal furloughs and volatile demand environment,” said ICICI Securities on Wipro’s Q2 FY26 performance.
Workforce And H-1B Visa Update
Addressing concerns about H-1B visa changes in the US, Saurabh Govil, Chief Human Resources Officer, said Wipro has taken a deliberate approach to localisation in the last few years, with nearly 80 per cent of its US workforce now local.
“From a business impact perspective, the change will be very limited. We have enough avenues to manage the change,” he added, referring to the new USD 100,000 one-time fees for visa applications.
Outlook
Pallia said that industries such as consumer, energy, manufacturing and BFSI are actively leveraging AI to optimise costs, modernise core systems and streamline operations while assessing tariff impact. With Wipro Intelligence and a strong deal pipeline, the company said it expects to maintain momentum in client wins and technology-led transformation, particularly in the AI domain. |
