Wipro Q2 revenue rises, but deal wins weaken

Wipro Limited (NSE: WIPRO) reported Q2 FY27 revenue of ₹24,752.7 crore, up 1.1% QoQ and 9.1% YoY. Net profit declined 4.5% QoQ to ₹3,200.6 crore, while total deal bookings fell sharply to about $2.6 billion. Key details • Revenue: ₹24,752.7 crore, up 1.1% QoQ and 9.1% YoY. • Net profit: ₹3,200.6 crore, down 4.5% QoQ. • Total deal bookings: about $2.6 billion versus $4.7 billion a year ago. • Q3 IT services revenue guidance is -1.5% to +0.5% sequentially in constant currency. • Attrition improved marginally to 13.8% from 13.9% in Q1 FY27. My view The main concern is not the small sequential revenue growth. It is the weakness in fresh deal bookings. A lower deal intake today can affect revenue visibility over the next few quarters. The cautious Q3 guidance also suggests that the demand environment remains uneven despite some improvement in operating margins. What I’m watching next I will watch whether deal bookings recover above the current $2.6 billion level, along with Q3 revenue growth and margin stability. Stance: Neutral to cautious. Revenue is holding up, but weaker deal wins and soft guidance need to improve before the growth outlook becomes stronger. Disclosure: I do not have any holding or position in the stock mentioned above.