Sequential Revenue Growth (IT Services)
IT Services revenue of $2.64B grew 1.4% sequentially in constant currency (1.2% reported). Excluding HARMAN DTS, organic sequential growth was 0.6% CC.
Operating Margin Expansion
Operating margin improved to 17.6%, up 40 basis points versus adjusted Q2 and up 10 basis points year-on-year — described as one of the best margin performances in recent quarters.
Adjusted Net Income and EPS
Adjusted net income was INR 33.6B and adjusted EPS was INR 3.21, up 3.5% quarter-on-quarter and flat year-on-year.
Strong Cash and Cashflow Position
Operating cash flow was 135% of net income for Q3. Gross cash and investments totaled ~$6.5B and accounting yield on average investments held in India was 7.2%.
Large Deals and Contract Value
Closed $3.3B in total contract value (TCV) in the quarter with $871M in large deal bookings; management noted continued large-deal pipeline and earlier mega wins already ramping.
HARMAN DTS Acquisition Completed
Acquisition of HARMAN DTS closed in Q3; expected to add engineering and AI capabilities, expand geographic and industry reach and strengthen engineering/global business line (contributed ~0.8% to CC revenue growth in Q3).
AI-first Strategy and Platform Launches
Launched/marketed Wipro Intelligence framework and delivery platforms (WINGS, Vega) and industry platforms (PayerAI, NetOxygen, AutoCortex). Opened innovation labs in the U.S., Australia and Middle East to accelerate AI-led transformation.
Sector and Regional Strengths
APMEA grew 1.7% sequentially and 6.6% YoY; Americas (overall) +1.8% sequential and +2.8% YoY; BFSI +2.6% sequential and +0.4% YoY; Health +4.2% sequential and +1% YoY; Tech & Communications +4.2% sequential and +3.5% YoY.
Shareholder Returns
Board declared an interim dividend of INR 6 per share. Cash returned in the current financial year will exceed $1.3B, exceeding the minimum capital allocation threshold for the block ending FY2026.
Operational Discipline and One-time Notes
Management completed a restructuring exercise (no further charges anticipated) and highlighted operating discipline to maintain margins in the ~17%–17.5% band while investing for growth.