Wipro Limited has filed auditor's reports for its standalone and consolidated financial statements for the quarter ended December 31, 2025, with stock exchanges including the National Stock Exchange of India Limited, BSE Limited, and NYSE New York. The reports were submitted on January 16, 2026, and include Unique Document Identification Numbers (UDIN) as required by regulatory compliance.

Auditor's Opinion and Compliance

Deloitte Haskins & Sells LLP, the company's chartered accountants, provided unqualified opinions on both standalone and consolidated financial results. The auditor confirmed that the financial statements comply with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and conform to Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34).

Regulatory Framework and Standards

The auditor's reports confirm that the financial statements present a true and fair view of the company's financial position for the three and nine months ended December 31, 2025. The standalone financial results follow Indian Accounting Standards, while the consolidated results are prepared under both Indian Accounting Standards (Ind AS 34) and International Accounting Standards (IAS 34) as issued by the International Accounting Standards Board.

The audit was conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act 2013. The auditor maintained independence in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India and fulfilled all ethical responsibilities during the audit process.

Management and Board Responsibilities

The reports outline that Wipro's Board of Directors holds responsibility for preparing and presenting financial results that provide accurate financial information. This includes maintaining adequate accounting records, implementing internal financial controls, and ensuring compliance with applicable accounting principles and regulatory requirements.

The Board of Directors is also responsible for assessing the company's ability to continue as a going concern and overseeing the overall financial reporting process. For consolidated results, the respective boards of subsidiary companies share similar responsibilities for their entities' financial reporting.

Audit Process and Methodology

Deloitte Haskins & Sells LLP conducted comprehensive audit procedures to obtain reasonable assurance about the financial statements' accuracy. The audit process included identifying and assessing risks of material misstatement, evaluating internal financial controls, and reviewing accounting policies and estimates made by the Board of Directors.

The auditor evaluated the overall presentation, structure, and content of both standalone and consolidated financial results to ensure they represent underlying transactions and events accurately. For consolidated results, the audit covered financial information from all entities within the Wipro group as listed in the accompanying notes.

Filing and Availability

The auditor's reports with UDIN numbers have been filed with all relevant stock exchanges where Wipro shares are listed. Company Secretary M Sanaulla Khan digitally signed the submission letter on January 16, 2026. The reports are also available on the company's official website at www.wipro.com for stakeholder access and transparency.

Wipro shares tumbled over 9% in early trade following the company's mixed third-quarter results and cautious outlook for Q4. The IT services major's stock hit an early low of Rs 241.55, trading at Rs 247.40 with a 7.5% decline as brokerages remained divided on the company's prospects despite margins beating expectations.

Q3 Financial Performance Analysis

The company reported a net profit of Rs 3,119.00 crore for the third quarter, marking a 7% year-on-year decline. Gross revenue rose marginally to Rs 23,560.00 crore, up 0.2% year-on-year, while IT services revenue reached $2.60 billion with sequential constant-currency growth of 1.4%.

The sequential revenue growth came in at the upper end of guidance, though analysts noted that organic momentum remains weak with organic growth at just 0.6%.

Margin Performance and Operational Metrics

Consolidated margins contracted to 14.80% due to one-off impacts from the new labour code and restructuring costs. However, IT services margins showed improvement to 17.60% despite seasonal weakness and ramp-up costs for a large Phoenix deal.

Q4 Guidance and Harman Acquisition Impact

Wipro provided Q4 guidance of 0-2% constant currency growth, with the recently announced Harman acquisition expected to contribute significantly. The company revised its fresher hiring guidance for FY26 to 7,500-8,000 graduates, down from the original target of 10,000-12,000.

Mixed Brokerage Reactions

Brokerages delivered contrasting assessments of Wipro's performance. HDFC Securities maintained an optimistic tone with an "add" rating and target price of Rs 290, highlighting the company's return to growth trajectory. JM Financial retained a "buy" rating despite describing the quarter as "lacklustre," citing undemanding valuations and potential for capital returns.

Elara Capital remained firmly bearish, reiterating its "sell" rating while raising the target price to Rs 220, emphasizing that organic growth is likely to stay weak despite Harman's contribution.

Sector Challenges and Deal Pipeline

The company faced headwinds across multiple verticals, with growth impacted by slower ramp-up of large deals and weakness in the EMR vertical. While some recovery was noted in the BFSI segment, other areas including energy and consumer verticals continued to struggle with tariff-related challenges and deal pauses.

The mixed performance reflects broader challenges in the IT services sector, with analysts emphasizing that better execution and stable conversion of deal TCV into revenue will be critical for improved outlook.