Wipro Q3FY26 Results: Wipro’s Q3 performance came in largely in line on revenue, but profitability and margins fell short of Zee Business Research estimates, even as the company announced an interim dividend of Rs 6 per share.
Revenue: Near estimates, growth modest
On a consolidated basis, Wipro reported revenue of Rs 23,556 crore, marking a 3.8 per cent QoQ rise. Zee Business Research had pegged consolidated revenue at Rs 23,621 crore, implying growth of 4.1 per cent QoQ. The reported number was therefore marginally below estimates.
In dollar terms, IT services revenue stood at $2,635.4 million, up 1.2 per cent QoQ. Zee Business Research had estimated $2.64 billion, or 1.7 per cent QoQ growth, aided by the Harman DTS acquisition completed in December 2025. Dollar revenue growth came in slightly weaker than expected.
Profitability misses estimates
On the profitability front, Wipro missed expectations by a wide margin. Consolidated EBIT came in at Rs 3,573.5 crore, declining 5.5 per cent QoQ, while Zee Business Research had estimated EBIT of Rs 3,903 crore, implying a 6.1 per cent QoQ rise.
As a result, EBIT margins slipped to 15.3 Per Cent, compared with 16.7 per cent in Q2. Zee Business Research had pencilled in margins at 16.5 per cent, factoring in relatively flat margins due to the dilutive impact of the Harman acquisition. The actual margin outcome was meaningfully below expectations.
Profit below estimates
Consolidated net profit for Q3 stood at Rs 3,119 crore, down sequentially. Zee Business Research had estimated PAT of Rs 3,435 crore, up 5.3 per cent QoQ. The reported profit was well below the estimate, reflecting pressure on operating margins.
Constant Currency growth lower than expected
On a constant currency (CC) basis, Wipro reported IT services CC revenue growth of 1.4 per cent QoQ. Zee Business Research had estimated 1.5 per cent growth for IT services and 0.5 per cent growth at the consolidated level. CC growth was therefore largely in line, though slightly softer than estimates.
Q4 guidance vs expectations
For Q4FY26, Wipro guided for constant currency revenue growth of 0 to 2 per cent. Zee Business Research had expected a stronger guidance range of 1.5 to 3.5 per cent, indicating that the company’s outlook is more cautious than anticipated.
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While Wipro delivered steady revenue growth, the quarter was marked by a sharp miss on margins and profit. The Harman acquisition supported dollar revenue but proved margin-dilutive, keeping profitability under pressure.
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