New Delhi: IT services major Wipro on Friday reported a 7 per cent decline in consolidated net profit to Rs 3,119 crore in the third quarter of FY26, weighed down by one-off restructuring charges and labour code implementations.
The Bengaluru-headquartered company had posted a net profit (attributable to equity holders of the company) of Rs 3,353.8 crore in the year-ago period.
Wipro recorded a one-time provisional impact of Rs 302.8 crore from the implementation of the new Labour Codes.
Wipro’s larger peers — TCS, Infosys, and HCLTech — have also taken significant hits from the new Labour Codes in their Q3 FY26 earnings. TCS faced a Rs 2,128 crore statutory impact, Infosys Rs 1,289 crore, and HCLTech a Rs 719 crore.
The October-December quarter also witnessed a one-time cost impact of Rs 263 crore for Wipro on account of a now-completed restructuring exercise.
Wipro’s revenue from operations increased 5.54 per cent to Rs 23,555.8 crore in Q3 FY26 compared to Rs 22,318.8 crore in the year-ago period.
On a quarter-on-quarter basis, Wipro’s profit fell 3.92 per cent, while revenue rose 3.78 per cent.
For the quarter ending March 31, 2026, Wipro expects revenue from its IT Services business segment to be in the range of $2,635 million to $2,688 million, which translates to a sequential growth of 0-2 per cent in constant currency.
During the quarter under review, Wipro completed the $375 million (about Rs 3,270 crore) acquisition of HARMAN’s Digital Transformation Solutions (DTS) business unit. HARMAN is a Samsung company.
Wipro CEO and MD Srini Pallia said the company is positioning itself for an “AI-first world” as artificial intelligence becomes a standing board-level mandate for global
organisations.