Wipro Announces Results for the Quarter Ended December 31, 2025
$WIPRO #AIpoweredtechnology--Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, announced financial results under International Financ...
IT service segment revenue grows 1.4% QoQ CC and 1.2% in reported terms
Operating margin at 17.6%; Expands 0.9% sequentially and 0.1% YoY
Overall deal bookings at $3.3Bn; Large deal booking at $0.9Bn
Operating cash flows at 135.4% of net income
EAST BRUNSWICK, N.J. & BANGALORE, India: $WIPRO #AIpoweredtechnology--Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended December 31, 2025.
Highlights of the Results
Results for the Quarter ended December 31, 2025:
Outlook for the Quarter ending March 31, 2026
We expect revenue from our IT Services business segment to be in the range of $2,635 million to $2,688 million*. This translates to sequential guidance of 0% to 2.0% in constant currency terms.
*Outlook for the Quarter ending March 31, 2026, is based on the following exchange rates: GBP/USD at 1.33, Euro/USD at 1.17, AUD/USD at 0.65, USD/INR at 88.85 and CAD/USD at 0.72 |
Performance for the Quarter ended December 31, 2025
Srini Pallia, CEO and Managing Director, said, “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.”
Aparna Iyer, Chief Financial Officer, said, “Our IT services operating margins at 17.6% expanded both sequentially and on a year-on-year basis. This is our best margin performance in last few years. Our continued focus on execution rigour also reflects in our strong operating cash flow of 135% of net income in Q3. We are also pleased to share that the Board has declared an interim dividend of Rs 6 per share which will take the total payout for the year to $1.3 Bn.”
1. |
| For the convenience of the readers, the amounts in Indian Rupees in this release have been translated into United States Dollars at the certified foreign exchange rate of US$1 = Rs 89.84, as published by the Federal Reserve Board of Governors on December 31, 2025. However, the realized exchange rate in our IT Services business segment for the quarter ended December 31, 2025, was US$1= Rs 88.71 |
2. |
| Constant currency for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period. |
3. |
| Total Bookings refers to the total contract value of all orders that were booked during the period including new orders, renewals, and increases to existing contracts. Bookings do not reflect subsequent terminations or reductions related to bookings originally recorded in prior fiscal periods. Bookings are recorded using then-existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations. The revenues from these contracts accrue over the tenure of the contract. For constant currency growth rates, refer note 2. |
4. |
| Large deal bookings consist of deals greater than or equal to $30 million in total contract value. |
5. |
| IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials. |
6. |
| Adjusted for impact of past service cost on gratuity due to implementation of new labour code amounting to Rs 3,028Mn for the three and nine months ended December 31, 2025, is included in the table title “Reconciliation for Adjusted Net Income and Adjusted EPS” at the end. |
Highlights of Strategic Deal Wins
In Q3’26, Wipro continued to win large and strategic deals across industries. Key highlights include:
Analyst Recognition
Source & Disclaimer: *Gartner, “Magic Quadrant for Service Integration and Management Services”, Andrea Lanzavecchia, et al, 29 October 2025. *Gartner, “Magic Quadrant for Data Center Outsourcing Services”, Biswajit Maity, et al, 3 November 2025. *Gartner, “Magic Quadrant for Outsourced Digital Workplace Services”, Karl Rosander, et al, 10 November 2025. |
GARTNER and MAGIC QUADRANT are trademarks of Gartner, Inc. and its affiliates. Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner's research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. |
The Gartner content described herein (the “Gartner Content”) represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this press release, and the opinions expressed in the Gartner Content are subject to change without notice. |
IT Products
Please refer to the table at the end for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis.
About Key Metrics and Non-GAAP Financial Measures
This press release contains key metrics and non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical or future performance, financial position or cash flows that are adjusted to exclude or include amounts that are excluded or included, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS.
The table at the end provides IT Services Revenue on a constant currency basis, which is a non-GAAP financial measure that is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior reporting period. We refer to growth rates in constant currency so that business results may be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Further, in the normal course of business, we may divest a portion of our business which may not be strategic. We refer to the growth rates in both reported and constant currency adjusting for such divestments in order to represent the comparable growth rates.
Our key metrics and non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, the most directly comparable financial measure calculated in accordance with IFRS and may be different from non-GAAP measures used by other companies. Our key metrics and non-GAAP financial measures are not comparable to, nor should be substituted for, an analysis of our revenue over time and involve estimates and judgments. In addition to our non-GAAP measures, the financial statements prepared in accordance with IFRS and the reconciliation of these non-GAAP financial measures with the most directly comparable IFRS financial measure should be carefully evaluated.
Results for the Quarter ended December 31, 2025, prepared under IFRS, along with individual business segment reports, are available in the Investors section of our website www.wipro.com/investors/
Quarterly Conference Call
We will hold an earnings conference call today at 07:00 p.m. Indian Standard Time (8:30 a.m. U.S. Eastern Time) to discuss our performance for the quarter. The audio from the conference call will be available online through a webcast and can be accessed at the following link- https://links.ccwebcast.com/?EventId=WIP160125
An audio recording of the management discussions and the question-and-answer session will be available online and will be accessible in the Investor Relations section of our website at www.wipro.com
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading AI-powered technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our consulting-led approach and the Wipro Intelligence™ unified suite of AI-powered platforms, solutions and transformative offerings, we help clients realize their boldest ambitions to build intelligent and sustainable businesses. The Wipro Innovation Network – part of the Wipro Intelligence™ suite – underpins our commitment to client-centric co-innovation and co-creation by bringing together capabilities from the innovation labs and partner labs, academia, and global tech communities. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.
Forward-Looking Statements
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, the benefits its customers experience and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.
Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
WIPRO LIMITED AND SUBSIDIARIES | ||||
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | ||||
(Rs in millions, except share and per share data, unless otherwise stated) | ||||
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| As at March 31, 2025 | As at December 31, 2025 | ||
|
|
| Convenience translation into U.S. Dollar in millions (unaudited) at the rate of Rs 89.84 | |
ASSETS | ||||
Goodwill | 325,014 | 367,635 | 4,092 | |
Intangible assets | 27,450 | 29,494 | 328 | |
Property, plant and equipment | 80,684 | 80,540 | 896 | |
Right-of-Use assets | 25,598 | 29,247 | 326 | |
Financial assets |
| |||
Derivative assets | ^ | - | - | |
Investments | 26,458 | 27,933 | 311 | |
Trade receivables | 299 | 645 | 7 | |
Other financial assets | 4,664 | 6,029 | 67 | |
Investments accounted for using the equity method | 1,327 | 1,991 | 22 | |
Deferred tax assets | 2,561 | 4,452 | 50 | |
Contract assets | - | 1,673 | 19 | |
Non-current tax assets | 7,230 | 7,807 | 87 | |
Other non-current assets | 7,460 | 8,543 | 95 | |
Total non-current assets | 508,745 | 565,989 | 6,300 | |
Inventories | 694 | 755 | 8 | |
Financial assets |
| |||
Derivative assets | 1,820 | 148 | 2 | |
Investments | 411,474 | 455,035 | 5,065 | |
Cash and cash equivalents | 121,974 | 118,914 | 1,324 | |
Trade receivables | 117,745 | 135,815 | 1,511 | |
Unbilled receivables | 64,280 | 70,917 | 789 | |
Other financial assets | 8,448 | 9,511 | 106 | |
Contract assets | 15,795 | 12,663 | 141 | |
Current tax assets | 6,417 | 11,215 | 125 | |
Other current assets | 29,128 | 30,897 | 344 | |
Total current assets | 777,775 | 845,870 | 9,415 | |
|
| |||
TOTAL ASSETS | 1,286,520 | 1,411,859 | 15,715 | |
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EQUITY |
| |||
Share capital | 20,944 | 20,974 | 233 | |
Share premium | 2,628 | 5,827 | 65 | |
Retained earnings | 716,477 | 760,420 | 8,464 | |
Share-based payment reserve | 6,985 | 6,851 | 76 | |
Special Economic Zone Re-investment reserve | 27,778 | 28,437 | 317 | |
Other components of equity | 53,497 | 74,271 | 827 | |
Equity attributable to the equity holders of the Company | 828,309 | 896,780 | 9,982 | |
Non-controlling interests | 2,138 | 2,174 | 24 | |
TOTAL EQUITY | 830,447 | 898,954 | 10,006 | |
| ||||
LIABILITIES |
| |||
Financial liabilities |
| |||
Loans and borrowings | 63,954 | 1,860 | 21 | |
Lease liabilities | 22,193 | 26,434 | 294 | |
Derivative liabilities | - | 520 | 6 | |
Other financial liabilities | 7,793 | 7,222 | 80 | |
Deferred tax liabilities | 16,443 | 17,851 | 199 | |
Non-current tax liabilities | 42,024 | 45,284 | 504 | |
Other non-current liabilities | 17,119 | 26,367 | 294 | |
Provisions | 294 | 158 | 2 | |
Total non-current liabilities | 169,820 | 125,696 | 1,400 | |
Financial liabilities |
| |||
Loans, borrowings and bank overdrafts | 97,863 | 161,201 | 1,794 | |
Lease liabilities | 8,025 | 8,551 | 95 | |
Derivative liabilities | 968 | 4,725 | 53 | |
Trade payables and accrued expenses | 88,252 | 98,942 | 1,100 | |
Other financial liabilities | 3,878 | 5,684 | 63 | |
Contract liabilities | 20,063 | 25,912 | 289 | |
Current tax liabilities | 34,481 | 45,925 | 511 | |
Other current liabilities | 31,086 | 34,394 | 383 | |
Provisions | 1,637 | 1,875 | 21 | |
Total current liabilities | 286,253 | 387,209 | 4,309 | |
TOTAL LIABILITIES |
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