Wipro Ltd. delivered mixed financial results in Q2 2026, with IT services revenue reaching $2.61 billion, representing flat sequential growth and a modest 0.6% year-on-year increase in constant currency. According to the company's latest earnings report, operating margin improved to 16.5%, marking a 0.5% sequential improvement from the previous quarter. CEO Srini Pallia attributed the lower deal wins to two large deals that were awarded but not signed, with expectations that these deals will close in Q3 and drive robust bookings.
Wipro Ltd. is maintaining its long-term campus recruitment strategy despite a slower start to the current fiscal year. According to reports from NDTV Profit, the company's Chief Human Resources Officer Saurabh Govil confirmed that Wipro continues to target around 7,500 campus hires annually, though this fiscal year's intake could be slightly lower. The company had remained largely absent from campuses during the first half due to a healthy bench strength and onboarded around 1,000 employees during the period. CEO Srini Pallia confirmed plans to onboard more freshers in H2, with the Q4 period being weighted towards higher recruitment, maintaining the company's intent to achieve the 7,500 annual target.
As reported by NDTV Profit, Govil indicated that hiring activity is expected to increase meaningfully in the second half of the current fiscal year. The management is planning to ramp up hiring drives during this period while sticking to the annual campus recruitment target of 7,500. This strategic approach reflects the company's confidence in business prospects for the remainder of the year, even as Q2 results showed continued challenges in achieving stronger growth momentum. CEO Pallia specifically noted that hiring activity will be Q4 weighted, with the company maintaining its focus on profitable growth and cash flow conversion rather than providing specific revenue or margin guidance beyond Q3.
According to the company's leadership, client demand remains stable with enterprises continuing to prioritise artificial intelligence adoption, cost optimisation and vendor consolidation initiatives. As reported by NDTV Profit, Wipro's management expressed optimism about the deal pipeline remaining strong during the stipulated timeline, with delayed deals expected to close and bookings anticipated to grow. The company sees strong momentum in BFSI sector where clients focus on cost optimization, legacy modernization, and scaling agentic AI across enterprises. In technology sector, digital-native firms are driving demand in custom silicon, design-to-manufacture, and physical AI investments, while EMR sector continues gaining traction with good wins ramping up. However, healthcare in the U.S. remains affected by policy changes, creating new outsourcing opportunities.
Wipro is continuing investments in AI services and solutions including AI data centers, AI foundry services, physical AI devices, and design-to-manufacturing to capture opportunities beyond traditional technology spend. CFO Aparna Iyer reiterated a sustainable margin target of 17%-17.5%, with consistent improvement expected from here on. The company maintains its focus on profitable growth and cash flow conversion, with no specific revenue or margin guidance beyond Q3. On AI revenue, management indicated internal tracking but no external disclosure to avoid repeating digital mistakes, while the Mindsprint deal represents committed revenues with no inorganic revenue component.
