Wipro Ltd (NYSE:WIT) on Friday reported third-quarter fiscal 2026 gross revenue of 235.6 billion rupees ($2.622 billion), up 5.5% year over year, narrowly surpassing the analyst consensus estimate of $2.620 billion. IT Services revenue rose 0.2% year over year to $2.635 billion, while earnings per share of 4 cents came in line with expectations.

Revenue Mix And Profitability

Despite the headline growth, adjusted constant-currency revenue in the IT Services segment declined 1.2% year over year. IT Services operating margin improved to 17.6%, up 10 basis points from a year earlier. Net income fell 7% year over year to 31.2 billion rupees ($347.2 million), while operating cash flow declined 13.6% to 42.6 billion rupees ($474.1 million).

Total bookings were $3.34 billion, down 5.7% year over year on a constant-currency basis. Large-deal bookings totaled $871 million, a decrease of 8.4% year over year in constant currency.

Voluntary attrition was 14.2% on a trailing 12-month basis.

Management Commentary

CEO and Managing Director Srini Pallia said artificial intelligence is playing an increasingly strategic role at the company. He said Wipro Intelligence helped drive multiple client wins, supported wider adoption of AI-enabled platforms and solutions, enabled scaled AI-led delivery through WINGS and WEGA, and expanded Wipro's global innovation network.

CFO Aparna Iyer said IT Services operating margins rose to 17.6%, marking the company's strongest margin performance in several years. She added that disciplined execution drove strong operating cash flow, which reached 135% of net income during the quarter.

Dividends And Outlook

Iyer said the board approved an interim dividend of 6 rupees per share, taking total shareholder payouts for the year to $1.3 billion. Wipro expects IT Services revenue of $2.635 billion to $2.688 billion for the next quarter, implying flat to 2% sequential growth in constant-currency terms.

WIT Price Action: Wipro shares were down 3.03% at $2.88 during premarket trading on Friday, according to Benzinga Pro data.

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