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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹23,556 Cr
verified against source
Revenue YoY
0.2%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Wipro's Q3 FY26 results showed broad-based sequential growth of 1.4% CC in IT services revenue, with three of four markets and four of five sectors growing. Operating margins expanded 40bps QoQ to 17.6%, one of the best in recent years, aided by cost rigor and forex. Total contract value was $3.3B and large deal bookings $871M, though TCV declined sequentially. The Harman DTS acquisition contributed 0.8% to revenue. Management guided Q4 revenue growth of 0-2% CC, factoring in Harman dilution and fewer working days. AI is becoming central to deal pipeline, but discretionary spending remains cautious. Key risk: delayed ramp-ups in large deals and pricing pressure in vendor consolidation contracts.
Colored figures show movement against the previous available record.
Guidance to track
- Sequential constant currency revenue growth guidance of 0% to 2%, including incremental two months of Harman DTS revenue.
- Management aims to maintain operating margins in the same band as recent quarters despite Harman dilution.
- Plans to hire 2,500 freshers from campuses in Q4 FY26, up from 400 in Q3.
Risks flagged
- Management cited delay in ramp-ups of some large deals won earlier, impacting Q4 guidance.
- CFO noted pricing pressures in some vendor consolidation deals, which could compress margins.
- EMR sector declined 4.9% sequentially and Americas 2 declined 0.8%, partly due to program completions and furloughs.
- CEO acknowledged that trade/tariff uncertainties continue, affecting client discretionary spending decisions.
Key quotes
- AI is now a standing board-level mandate led by CEOs who recognize its ability to transform business models, unlock productivity, and, of course, create lasting competitive advantage.
- Our operating margins at 17.6% expanded 0.4% or adjusted quarter two margins and 0.1% year-on-year. I would like to highlight that this is one of our best margin performances in the last few years.
- Our clients are bringing us in much earlier and recognizing the step change in the way we deliver and innovate.
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