• Revenue and margins: Wipro’s constant-currency revenue growth was flat, beating expectations of a decline, and EBIT margins expanded by 50 basis points. Management spoke of reaching 17-17.5% margins but gave no timeline.
• Q3 guidance: Revenue guidance was -1.5 to +0.5%, in line with estimates and implying degrowth at the midpoint; Q3 is seasonally weak for Wipro.
• Deal pipeline: Deal wins fell 59% quarter-on-quarter and “about 30, 30, 40%” year-on-year, which the company attributed to deals shifting to Q3 because paperwork was not signed. Pallia said those deals are being signed in Q3, the pipeline is robust, and a significant piece is net new and AI-driven.
• Hiring plans: Headcount declined by more than 6,700 in the quarter; Govil said hiring was limited to 1,000-odd people in the first half and would be higher in H2, particularly Q4. Wipro intends to hire 7,500 freshers annually, but will not reach that number this fiscal.
• Productivity focus: Govil said Wipro expects utilization to improve, attrition to remain flattish, and productivity efforts—including AI projects—to continue, while hiring where needed.