Wipro Q2 revenue edges up 0.3% to $2.6 bn, deal bookings hit near four-year low

Bengaluru: Wipro made a weak start to the second half of FY27, with flat sequential growth and total bookings falling to a near four-year low as deal signings were delayed. Client-specific issues in its mainstay market, Americas 1, and weakness in healthcare also weighed on performance.IT services revenue was flat sequentially and grew 0.6% year on year in constant currency in the September quarter. In dollar terms, revenue declined 0.1% sequentially and grew 0.3% year on year to $2.6 billion. Operating margin stood at 16.5%, expanding 50 basis points sequentially but declining 20 basis points year on year.Total bookings stood at $2.6 billion, down 22.9% sequentially in constant currency. Large-deal bookings fell 58.6% sequentially to $674 million.“Our bookings were lower this quarter. However, a couple of deals that had been awarded to us were not signed during the quarter. We expect these to flow into Q3, and we are very bullish about our Q3 bookings performance. There was a specific client-related situation in Americas 1, along with an issue in healthcare,” said Wipro CEO Srini Pallia.Pallia said the company typically sees a significant impact from client furloughs in the December quarter but expressed confidence in its pipeline and deal momentum.Wipro does not disclose AI revenue separately. “We track these numbers internally but have not disclosed them externally. We want to avoid repeating what happened with digital services in the past. Our focus is on transforming clients through AI and helping them become AI-native,” Pallia said.Among key sectors, BFSI grew 1% sequentially and 1.3% year on year in constant currency. Consumer grew 2.6% sequentially and 6% year on year. Technology and communications declined 2.6% sequentially but grew 7% year on year, while healthcare declined 3.8% sequentially and 6.5% year on year.Wipro CFO Aparna Iyer said operating margin expanded 50 basis points sequentially to 16.5%, driven by operational improvements and rupee depreciation, partly offset by continued investments in the business.The company expects IT services revenue to be between $2.5 billion and $2.6 billion in the December quarter, translating to sequential growth of -1.5% to 0.5% in constant currency terms.Wipro CHRO Saurabh Govil said the company had increased localisation in the US from around 40% to 80% over the past six years, limiting its exposure to the suspension of PERM processing. Wipro has filed zero to minimal PERM applications over the past three to four years, reflecting a planned shift towards local talent, he said.Wipro’s headcount fell by 6,816 sequentially to around 2.3 lakh employees. Govil said the company onboarded around 1,000 freshers in the first half of FY27, prioritising demand-led hiring while working through an existing bench. It onboarded around 7,500 freshers in FY26 and intends to maintain that as an annual baseline, with further hiring planned towards Q4 depending on demand.Govil said the company assesses headcount in the context of demand, hiring, attrition, utilisation and productivity. Attrition has remained broadly flat, while employee exits under its established bench policy are part of normal business operations, he added.You use AI every day. Now get your AI Quotient. Take the AIQ test.