Wipro Q2 FY27 Results Preview: After TCS And HCLTech, Investors Track Deal Ramp-Ups, Margin Trends And Q3 Guidance
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Wipro is expected to post around 9% year-on-year revenue growth and 2% profit growth in Q2, while IT services revenue may fall 0.5%–1.4% sequentially in constant currency terms; investors will watch December-quarter guidance and deal ramp-ups, with shares up around 1.82% on Wednesday.
Wipro is expected to report revenue growth of around 9% year-on-year (YoY) and profit growth of about 2% YoY for the September quarter, based on average estimates from several brokerages.
The Wipro results date is 15 October 2026. Investors will also watch the company’s December-quarter guidance, the pace at which large deals translate into revenue, and the effect of AI-led services on growth.
At 1:05 pm on 14 October, on the National Stock Exchange (NSE), Wipro's share price was trading at ₹170.35, up 1.35% for the day.
What Are Brokerages Expecting From Wipro Q2 Results?
Revenue estimates suggest that acquisitions will provide some support, even as the underlying business faces pressure from weak discretionary spending, pricing challenges and market share losses.
Emkay expects IT services revenue in dollar terms to decline 1% sequentially, including contributions from Mindsprint and AlphaNet. Jefferies estimates a 1.4% quarter-on-quarter decline in constant currency terms, placing growth closer to the lower end of Wipro’s guidance range.
JM Financial expects a 0.5% sequential decline in constant currency revenue. It estimates that cross-currency effects will take the dollar revenue decline to 0.6%, with Mindsprint and AlphaNet contributing around 40 basis points each. Motilal Oswal also expects a 0.5% decline in constant currency revenue, while Nuvama sees a 1% fall in both constant currency and dollar terms.
Margins could improve as the impact of wage hikes reverses and operating efficiencies provide support. However, spending on AI platforms, business development and large deal transitions may limit the improvement.
Emkay expects the IT services earnings before interest and tax (EBIT) margin to rise 50 basis points sequentially and the overall EBIT margin to increase 40 basis points. Motilal Oswal sees IT services margins expanding 40 basis points to 16.4%, while Nuvama expects a more modest 20-basis-point improvement. Jefferies estimates a 25-basis-point rise in EBIT margins.
What Will Wipro’s Q3 Guidance Tell Investors?
The December-quarter outlook is likely to draw close attention.
Emkay and Nuvama expect quarter-on-quarter revenue growth of -2% to 0%, citing seasonal weakness, higher employee furloughs, weak discretionary spending, and AI-led deflation.
Jefferies expects organic revenue guidance of -1.5% to +0.5%, as large deals ramp up. JM Financial has a similar expectation for constant currency growth.
Management commentary on deal intake, ramp-ups and conversion will be another key focus. Wipro has been seeking a larger share of deals involving vendor consolidation, cost reduction and business transformation, but demand remains weak.
Investors will look for signs that new contracts are translating into revenue and whether the company can sustain margin improvement while continuing to invest in AI-led services and platforms.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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