Wipro's Q2 revenue beats estimates, deal wins weaken

Wipro Limited (NSE: WIPRO) reported Q2 FY27 revenue of ₹24,753 crore, slightly above analyst expectations of ₹24,627 crore. However, deal bookings fell 45% year-on-year to $2.6 billion. The company also gave a cautious Q3 constant-currency revenue outlook, ranging from a 1.5% decline to 0.5% growth. The revenue beat is encouraging, but weaker deal bookings raise questions about the strength of future demand. Revenue growth from existing projects may not be enough if new contract momentum remains weak. My view: The next quarter's deal wins and revenue guidance will matter more than this quarter's modest revenue beat. I would look for evidence of stronger bookings before concluding that the recovery is sustainable. Stance: Watch for improvement in deal bookings and Q3 revenue execution.