Wipro's Q3: Small gains, mixed signals for India's IT giants
Wipro and Tech Mahindra just dropped their Q3 numbers, showing small but steady growth in a tough market.
Wipro's revenue nudged up to ₹23,560 crore ($2.62 billion), while Tech Mahindra hit $1.6 billion—both inching up from last quarter and year-on-year (vs the year-ago period — December quarter 2024).
What's happening with Wipro?
Wipro's core IT services brought in $2.635 billion, up 1.2% from last quarter (and barely 0.2% higher year-on-year (vs the year-ago period — December quarter 2024)).
The company boosted its operating cash flow by 25%, which sounds great—but net income actually slipped by nearly 4%.
Earnings per share also dipped to ₹2.98, even as total bookings reached $3,335 million ( $3.3 billion).
Why should you care?
If you're watching India's tech scene or thinking about where these big companies are headed, this is worth a glance.
Even with some wins—like more deals and strong cash flow—Wipro's profits are under pressure.
It's a reminder that even industry leaders have to hustle when times get tricky.