IT services major Wipro on Friday reported a 7 per cent decline in consolidated net profit to Rs 3,119 crore in the third quarter of FY26, weighed by a one-time provisional impact of Rs 302.8 crore due to the implementation of new Labour Codes.
Illustration: Dado Ruvic/Reuters
The Bengaluru-headquartered company had posted a net profit (attributable to equity holders of the company) of Rs 3,353.8 crore in the year-ago period.
Wipro’s revenue from operations increased 5.5 per cent to Rs 23,555.8 crore in Q3 FY26 compared to Rs 22,318.8 crore in the year-ago period.
On a quarter-on-quarter basis, Wipro’s profit fell 3.9 per cent while revenue rose 3.7 per cent.
“In Q3, we delivered broad-based growth in line with our expectations.
“As AI becomes a strategic imperative, Wipro Intelligence is emerging as a differentiator and contributed to several wins this quarter.
“We saw greater adoption of our AI-enabled platforms and solutions, scaled AI-led delivery through WINGS and WEGA, and expanded our innovation network across global locations,” Wipro CEO and MD Srini Pallia said.
Larger rivals TCS, Infosys and HCLTech have also registered a significant impact from the implementation of new Labour Codes in their Q3 numbers.
Earlier this week, TCS said the rollout of the new labour codes in Q3 FY26 resulted in a statutory impact of Rs 2,128 crore, while Infosys took a hit of Rs 1,289 crore during the quarter.
HCLTech also disclosed a one-time provision of $82 million (about Rs 719 crore) linked to the implementation.
The Wipro scrip settled at Rs 267.25 apiece on the BSE on Friday, 2.73 per cent higher than the previous close.
