According to an average of estimates from six brokerages, Wipro’s profit after tax for Q3FY26 is expected to rise by just 0.4% year-on-year. Revenue is seen growing at a muted pace of around 4% compared to the same period last year, amid subdued client spending and cautious macroeconomic conditions.
Sequentially, growth is expected to remain sluggish.
Brokerages expect Wipro’s IT services revenue to grow between 0.5% and 1.2% quarter-on-quarter in constant currency terms, aided by contributions from recent acquisitions.
However, the Harman integration, while expected to provide a one-month revenue boost this quarter, is also likely to dilute near-term margins.
HSBC projects around 0.5% constant currency growth, translating to a 1.2% sequential increase in dollar revenue. However, it flagged a 30 basis point currency headwind and warned of subdued margins due to furloughs and integration costs.
Centrum Broking sees 1.2% QoQ growth in constant currency, including 0.5% organic growth and 0.7% from Harman. It expects EBIT margins to decline by 22 basis points sequentially, largely due to the ramp-up costs of large deals.Nomura echoed similar expectations, projecting 0.5% revenue growth in constant currency and a modest 20 bps drop in margins, partially offset by currency gains.
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Nuvama anticipates similar revenue growth and estimates a 1% contribution from Harman integration. However, it expects margins to remain flat on a sequential basis, citing ongoing integration-related costs.
As Wipro prepares to release its earnings later today, investors will look for forward-looking guidance on deal momentum, cost optimisation, and clarity on the margin trajectory amid ongoing macro pressures.
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