Why is Wipro’s share price trending today?
Wipro is trending following the release of its Q2 FY27 financial results, which showed a 1.4% annual decline in net profit. Investors are reacting to a nearly 59% plunge in large deal bookings and a reduction in the company's total workforce.
What happened
- 15 Oct, 20:18 IST
Wipro announces Q2 FY27 net profit of ₹3,201 crore, a 1.4% year-on-year decrease [1].
What you need to know
Gross revenue increased 9.1% year-on-year to ₹24,752.7 crore [1].
Large deal bookings fell 58.6% to $674 million [1].
The company's workforce decreased by 6,716 employees to 2,36,328 [1].
IT services operating margins rose slightly to 16.5% [1].
It is not confirmed how the company will adjust its hiring plans to meet specific demand targets in the second half of the year.
Background
Wipro is a Bengaluru-based IT services firm currently focusing on an AI-powered strategy to drive long-term growth and expand its market reach [1].
The company is seeing growth in its AI-Native Unit and is targeting larger transformation opportunities through consulting [1].
Recent workforce reductions were described by the company as routine realignments based on supply, demand, and utilization [1].
Questions people ask
What was Wipro's net profit for Q2 FY27?
The company reported a net profit of ₹3,201 crore, which is down 1.4% compared to the previous year [1].
How did deal bookings perform?
Total project bookings dropped 22.9% sequentially, while large deal bookings saw a sharp decline of 58.6% [1].
Where this came from
Found through Google Trends and drafted with AI from at least two cited sources. Published automatically after passing our automated checks for sources, wording and safety. It may not have been reviewed by a person yet. Report a correction.