Wipro Q3 FY26 Profit Falls 7% on Labour Code Impact; Revenue Rises 5.5%

Wipro reported a 7% year-on-year decline in consolidated net profit to Rs 3,119 crore for Q3 FY26, impacted by a Rs 303 crore one-time charge from new labour code implementation and a Rs 263 crore restructuring cost. Revenue rose 5.5% YoY to Rs 23,556 crore, with IT services revenue showing modest growth. The company declared an interim dividend of Rs 6 per share and revised its fresher hiring target down to 7,500-8,000 for FY26, focusing on AI-ready talent. Wipro projects 0-2% sequential revenue growth for Q4 amid cautious demand and emphasizes AI-driven initiatives.