India’s Wipro Ltd. surpassed analysts’ expectations for its second-quarter revenue, fueled by growth in Asia-Pacific and the Americas, and by securing two major contracts worth over $500 million each.
The company reported 226.97 billion rupees ($2.58 billion) in consolidated revenue for the July–September period, a 1.8% increase year-on-year, slightly above the LSEG consensus of 226.90 billion rupees. Wipro projected its third-quarter revenue to range between a 0.5% decline and 1.5% growth, or roughly $2.59–$2.64 billion, matching brokerage estimates.
Net profit rose 1.2% to 32.46 billion rupees, narrowly missing expectations. Growth was led by Asia Pacific’s 3.1% expansion and Americas One’s 0.5% rise. The company’s total deal bookings hit $4.69 billion, up from $3.6 billion a year earlier, even as it moderated slightly from the previous quarter’s $5 billion.
Wipro’s large contracts with Phoenix Group and a U.S. telecom firm make it the only top-five Indian IT company to close two mega deals this fiscal year. The results follow strong earnings from peers TCS and HCLTech, which also cited improving global IT demand.
