Wipro will announce its Q2FY27 results on October 15 | Photo Credit: PRIYANSHU SINGH

Wipro is expected to report modest revenue growth in the September quarter, with brokerages projecting a 0.5–1 per cent sequential decline in constant-currency revenue from its IT services business amid continued demand pressures, even as margins are expected to improve. The company will announce its Q2FY27 results on October 15. Below are some key moniterables:

Revenue and PAT

According to a poll of brokerages, revenue for the upcoming quarter is expected to range between ₹24,885 crore and ₹24,924 crore, growing 1.7–1.8 per cent quarter-on-quarter (QoQ) and 9.6–9.8 per cent year-on-year (YoY). Constant-currency (cc) revenue growth is projected to range from -0.5 per cent to -1 per cent QoQ.

Profit after tax (PAT) is expected to range between ₹3,335 crore and ₹3,410 crore, translating into a QoQ change of -0.5 per cent to 1.5 per cent and YoY growth of 2.8–8.8 per cent.

“We expect a 1 per cent sequential USD revenue decline in the IT services segment, including contributions from Mindsprint and Alphanet, after factoring in ~10bps cross-currency headwinds,” observed an Emkay Research report.

Meanwhile, MOFSL noted that Wipro is expected to see sequential improvement, supported by the reversal of wage hike impacts and cost measures. However, the company is expected to be the only large-cap to decline 0.5 per cent QoQ CC despite inorganic contribution during the quarter.

IT services are expected to decline ~0.5 per cent QoQ CC (including ~0.7 per cent inorganic contribution from Mindsprint, in line with the midpoint of management’s -1.5 per cent to 0.5 per cent guidance range.

Margins and Guidance

Brokerages expect Wipro’s EBIT margins to improve by 40 basis points (bps) sequentially in the upcoming quarter, supported by currency tailwinds, operating efficiencies and the reversal of wage hike impacts, although investments in AI-led businesses and deal ramp-ups could partially offset the gains.

Emkay expects Wipro to guide for constant-currency revenue growth of -2 per cent to 0 per cent quarter-on-quarter for the third quarter of FY27. It expects IT services EBIT margins to improve by 50 bps sequentially, driven by currency movements and operating efficiencies.

PL Capital expects margins to expand by 40 bps QoQ, primarily due to currency benefits and cost synergies, partly offset by deal ramp-ups. Motilal Oswal Financial Services (MOFSL) also expects margins to improve by around 40 bps to 16.4 per cent, as the reversal of wage hike impacts supports profitability, even as Wipro continues to invest in AI-native businesses and platforms.

Deals and Conversions

PL Research expects deal wins to range between $2.7 billion and $2.8 billion during the quarter.

Vertical Performance

The MOFSL report noted that BFSI is expected to recover in 2Q, while EMR and Healthcare continue to remain under pressure.

Published on October 11, 2026