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 IT services major Wipro on Thursday reported a 4.6 per cent year-on-year (YoY) decline in consolidated net profit attributable to equity holders at Rs 3,200 crore for the September quarter (Q2 FY27). 

The tech giant reported a net profit of Rs 3,356.3 crore in the preceding June quarter (Q1 FY27), according to its stock exchange filing.

However, year-on-year, the net profit down 1.9 per cent from Rs 3,262.4 crore in the corresponding quarter last financial year (Q2 FY26).

Revenue from operations stood at Rs 24,752.7 crore during the quarter, registering a growth of 9 per cent year-on-year and 1.1 per cent sequentially from Rs 24,478.6 crore in the previous quarter.

Revenue from the company's core IT services segment came in at Rs 24,667 crore. In dollar terms, IT services revenue stood at $2.61 billion, remaining largely stable with a marginal 0.1 per cent decline quarter-on-quarter and a 0.3 per cent increase from a year earlier.

In constant currency terms, IT services revenue remained flat on a sequential basis while rising 0.6 per cent year-on-year.

Wipro said its Europe business, which contributes more than one-fourth of overall revenue, recorded a 5.1 per cent year-on-year growth in constant currency terms. 

The company also highlighted partnerships with Anthropic and Google that helped accelerate AI-led engagements and deliver operational savings.

The company's IT services operating margin improved by 0.5 percentage points quarter-on-quarter to 16.5 per cent, although it was 0.2 percentage points lower than the year-ago period.

Commenting on the performance, Chief Financial Officer Aparna Iyer said the company expanded margins despite continued investments in business growth and talent.

“Our operating margin for the quarter was 16.5 per cent, an expansion of 0.5 per cent sequentially. We have delivered this improvement even while continuing to invest in our business and people," she noted. 

"We remain relentless in driving cash flow conversion. Q2 is yet another quarter where our operating cash flow has been robust and

stood at 166 per cent of net income,” Iyer added.