Wipro Navigates Restructuring with AI-Driven Growth in Q3 Amid Labour Code Challenges

Wipro reported a 7% drop in net profit to Rs 3,119 crore for Q3 FY26, impacted by restructuring costs and Labour Code changes. However, revenue increased by 5.5% to Rs 23,555.8 crore. The company is focusing on AI-led strategies, with CEO Srini Pallia highlighting AI as crucial for future growth.

Wipro, a leading IT services firm, announced a 7% decline in consolidated net profit, totaling Rs 3,119 crore for the third quarter of FY26, citing significant restructuring expenses and the implementation of new Labour Codes as primary factors.

Revenue grew by 5.5% year-on-year, reaching Rs 23,555.8 crore, despite the challenges. CEO Srini Pallia emphasized the strategic importance of AI, noting that it is now a critical element for global organizations. Wipro continues to invest in AI capabilities, aiming to differentiate itself in a competitive marketplace.

The company completed its acquisition of HARMAN's Digital Transformation Solutions business, marking a step towards enhanced digital offerings. Wipro's headcount rose slightly, yet recruitment remained subdued, signaling a cautious approach amid broader economic pressures.