Wipro Share Price in Focus; Reports Q2 Results, Announces FLARRE.AI Investment

Wipro’s IT services revenue stood at $2,611.5 million in the September 2026 quarter, up 0.3% from a year earlier, as per exchange filings.  

Revenue was almost unchanged from the June quarter. The company’s total gross revenue, however, rose 9.1% year-on-year to ₹24,752.7 crore. Net income moved in the opposite direction. It fell 1.9% year-on-year and 4.7% quarter-on-quarter.  

Earnings per share came in at ₹3.23, compared with the previous year’s figure implied by the reported 4.2% increase. 

Large Deal Bookings Fall 58.6% 

Wipro closed the quarter with $2,595 million in total bookings, down 22.9% sequentially in constant currency terms. Bookings from large deals fell more sharply, declining 58.6% to $674 million. 

The IT services operating margin was 16.5%. This was 0.5 percentage points higher than in the June quarter, but 0.2 percentage points lower than a year earlier. Operating cash flow was ₹5,304.8 crore, equal to 165.8% of net income. 

Agreement Signed for FLARRE.AI Stake 

Separately, Wipro Limited signed an agreement on October 15 to acquire a 20% stake in FLARRE.AI, Inc. The transaction will be carried out through its step-down subsidiary, Wipro IT Services, LLC. Wipro disclosed the agreement in a filing dated October 16, 2026. 

The filing puts the cash consideration at $2,000 and sets October 31, 2026, as the expected completion date. No regulatory or government approvals are required. Wipro also stated that the transaction is not a related-party deal. 

Insurance Technology Is the Focus 

FLARRE.AI develops AI products for insurance companies. Its platform uses AI agents to support work across insurance software systems, including product launches, system upgrades, migrations, and expansions.  

Wipro said the investment is intended to build its AI capabilities in the global insurance sector. 

Q3 Revenue Guidance 

For the December 2026 quarter, Wipro expects IT services revenue of $2,571 million to $2,625 million. Its guidance represents a sequential change of -1.5% to +0.5% in constant currency terms. 

Read More: Zee Entertainment Appoints Suraj Singh as Zee Studios Business Head! 

Wipro Share Price Performance  

As of October 22, 2026, 3:20 pm, Wipro share price was trading at ₹189.65, up 0.25% from the previous closing price. 

Conclusion  

Wipro expects IT services revenue of $2,571 million to $2,625 million in the December 2026 quarter. The company also expects to complete its acquisition of a 20% stake in FLARRE.AI by October 31, 2026. 

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