Wipro Q2 FY27: flat revenue, margins up, TCV $2.6B, Q3 guidance weak
WIPRO · price
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Wipro Q2 FY27 IT services revenue at $2.61B, flat sequentially and up 0.6% YoY in constant currency. Operating margin improved 0.5% to 16.5%. TCV stood at $2.6B with 9 large deals; two deals slipped to Q3 due to paperwork delays. BFSI grew 1% QoQ while Health declined 3.8%. Q3 guided at minus 1.5% to plus 0.5% sequential due to furloughs. EPS at INR 3.23, up 4.2% YoY. Cash generation at 166% of net income. Management targets margin recovery but no timeline given.
Q3 guidance is soft on furloughs and seasonal weakness. Pipeline looks strong with deals likely boosting Q4. Margins improving but no clear timeline to target band.