Wipro shares dropped nearly 10% after Q3 results revealed a 7% decline in net profit to ₹3,119 crore, impacted by restructuring costs and new labor codes. Revenue grew 5.5% to ₹23,555.8 crore. The company anticipates modest growth for Q4 FY26
Wipro share price slumped nearly 10% on Monday’s session after Q3 results. A major IT services company announced a 7% drop in consolidated net profit, totaling ₹3,119 crore for the third quarter of FY26, impacted by one-time restructuring costs and the implementation of new labor codes.
Bengaluru-based reported a net profit attributable to equity shareholders of ₹3,353.8 crore during the same quarter last year.
Wipro experienced a one-time provisional effect of ₹302.8 crore due to the implementation of the new Labour Codes.
The quarter from October to December also saw a one-off expense of ₹263 crore for Wipro due to a recently completed restructuring initiative.
Wipro’s operational revenue grew by 5.5% to ₹23,555.8 crore in Q3 FY26, compared to ₹22,318.8 crore during the same period last year.
In comparison to the previous quarter, Wipro’s profit decreased by 3.9%, while revenue increased by 3.7%.
For the quarter ending March 31, 2026, Wipro anticipates revenue from its IT Services division to fall between USD 2,635 million and USD 2,688 million, indicating a sequential growth of 0-2% in constant currency.
During the quarter under review, Wipro finalized the acquisition of HARMAN’s Digital Transformation Solutions (DTS) business unit for USD 375 million (approximately ₹3,270 crore). HARMAN is a subsidiary of Samsung.
Wipro’s CEO and Managing Director, Srini Pallia, stated that the company is preparing itself for a “world focused on AI,” as artificial intelligence emerges as a crucial topic for boards of directors in global corporations.
The board of the company has announced an interim dividend of ₹6 for each share (with a face value of ₹2), with January 27 designated as the record date. The payment is expected to be made on or before February 14. This dividend will bring Wipro’s total payout for the year to USD 1.3 billion.
