India’s Wipro beats third-quarter revenue view on communications segment strength

BENGALURU: Wipro reported better-than-expected third-quarter revenue on Friday, driven by growth in a part of its Americas business, which includes the communications, health and consumer segments.

Consolidated sales for the December quarter rose 5.54% to 235.56 billion rupees ($2.59 billion) for the Indian software services exporter, topping analysts’ average estimate of 233.91 billion rupees, according to data compiled by LSEG.

The Bengaluru-based IT firm forecast revenue in the fourth quarter to grow in the range of flat to 2% on a sequential basis. That implies revenue will be in the range of $2.64 billion to $2.69 billion.

Banking and financial services, the company’s largest segment that accounts for over a third of its revenue, saw demand pickup, with revenue from the segment rising 1.6%.

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While firms in India’s $283-billion IT sector have been grappling with clients holding off on non-essential tech spends, companies have flagged demand in pockets and broad-based demand for essential projects.

Net profit for the quarter fell 7% to 31.19 billion rupees, below analysts’ estimate of 33.52 billion rupees. This was adjusted for a one-time charge of 3 billion rupees due to India’s new labour codes, the company said.

Total deal bookings came in at $3.34 billion, down from $4.69 billion in the prior quarter but up from $3.5 billion a year earlier.

Earlier this week, larger Tata Consultancy Services, HCLTech and Infosys beat revenue forecasts and flagged tech demand despite uncertainty, with TCS saying it was confident of “a good calendar year 2026”.