Wipro Shares Plunge Nearly 10% on Weak Q4 Guidance Despite Solid Q3 Margin Expansion

Bengaluru-based IT services giant

d saw its stock tumble sharply on January 19, 2026, falling up to 9-10% in early trading to levels around Rs 241-249, as investors digested the company's Q3 FY26 results announced on January 16. Key Financial Highlights from Q3 FY26 (Quarter Ended December 31, 2025) Consolidated net profit stood at Rs 3,119 crore, reflecting a 4% decline quarter-on-quarter (QoQ) and 7% year-on-year (YoY). This was partly due to a one-time Rs 302.8 crore exceptional charge related to the implementation of new labour codes, along with restructuring costs. Revenue from operations rose modestly to Rs 23,556 crore, up 5.5-6% YoY and about 3.7-3.8% sequentially. In constant currency terms, IT services revenue grew 1.4% QoQ, supported by contributions from the recent Harman acquisition. IT services operating margin expanded impressively to 17.6% (under IFRS), up 90 basis points QoQ — marking one of the strongest performances in recent years — thanks to execution discipline, cost optimisation, and AI-driven efficiencies. The company generated strong operating cash flow at 135% of net income and declared an interim dividend of Rs 6 per share (record date January 27, 2026), underscoring its focus on shareholder returns.