Q2 Results Live Updates: Wipro, Tech Mahindra set to announce September quarter earnings today. Check brokerage estimates, share price

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Q2 Earnings Results Live

Q2 Results Today Live: Wipro is expected to report modest earnings growth for the September quarter, with investor focus likely to shift to its December-quarter outlook, deal ramp-ups and the impact of artificial intelligence on revenue. The IT services major is estimated to post around 9% year-on-year (YoY) revenue growth and 2% profit growth, based on the average estimates of seven brokerages.

Companies set to announce their quarterly earnings include Wipro, Tech Mahindra, Jio Financial Services, HDFC Life Insurance, IRFC, HDFC Asset Management Company, Persistent Systems, L&T Finance, 360 ONE WAM, Karur Vysya Bank, Angel One, IIFL Finance, Metro Brands, CCL Products India, Sri Lotus Developers and Realty, Cyient DLM, Fedbank Financial Services, Alok Industries, and Sterling and Wilson Renewable Energy.

1 New Update

• Profit at Rs 749 crore vs Rs 718 crore, up 4.3%
• EBITDA at Rs 930 crore vs Rs 800 crore, up 13.9%

• We expect Tech Mahindra's Q2 revenue to grow 1.5% QoQ in constant currency (cc) terms, aided by large deal ramp-ups and inorganic contributions.
• EBIT margins are expected to expand 30 bps QoQ, driven by currency benefits and cost efficiencies from management initiatives, partly offset by wage hikes affecting 75-80% of employees during the quarter.
• Deal wins are expected to range between US$0.8 billion and US$1 billion, in the absence of any mega deals. A forex loss of around US$22-23 million is expected to weigh on PBT margins.
• Key focus areas include the company's three-year plan, growth in the communications and BFSI verticals, and the outlook for further margin improvement.

• We expect Wipro's IT services revenue to decline 1.4% QoQ in constant currency (cc) terms, near the lower end of its guidance range of -1.5% to +0.5%, which includes an approximately 50-basis-point inorganic contribution from Mindsprint. EBIT margin is expected to expand 25 bps QoQ.
• For Q3FY27, we expect Wipro to guide for organic revenue growth of -1.5% to +0.5% QoQ in cc terms as mega deals ramp up.
• Key focus areas include organic revenue growth guidance, the demand outlook, deal bookings, the ramp-up schedule of large deals, discretionary spending trends, and commentary on AI adoption.

• Consolidated net profit rose 86.3% YoY to Rs 341 crore vs Rs 183 crore.
• Revenue from operations increased 9.6% YoY to Rs 6,688 crore vs Rs 6,100 crore.

Revenue is forecast to grow 1.6% sequentially, supported by the contribution from the Orange deal and the ramp-up of large deals won in the previous quarter. This growth is expected to be partly offset by lower revenue from Pininfarina following the completion of a large programme in the June quarter.

EBIT margins are expected to remain stable, as benefits from rupee depreciation and operational efficiencies are offset by an estimated 80-basis-point impact from wage revisions. The company is also projected to report a forex loss of $25 million during the quarter.

Net new deal wins are estimated at around $0.9 billion, lower than the levels recorded in each of the preceding three quarters but representing healthy year-on-year growth of 10%.

Investors are likely to focus on the company’s capital allocation priorities, particularly whether it will pursue further margin expansion or reinvest to accelerate revenue growth. Other key monitorables include the long-term growth outlook for the telecom vertical following an expected revival in FY27, efforts to strengthen its positioning in AI, and the extent of pricing pressure in renewal deals and rising client demands for productivity gains.

Price as on 02.25.46 PM, Click on company names for their live prices.

• The company declared the first interim dividend for the financial year 2026-2027 of Rs. 6.50/- per equity share (i.e. 650%) on the fully paid-up equity shares of the face value of Re. 1/- per share.
• It fixed Thursday, October 22, 2026, as the Record Date towards payment of first Interim Dividend. The said Interim Dividend will be paid on or before November 12, 2026.

• Revenue at Rs 581 crore vs Rs 614 crore, down 5.6%
• Profit at Rs 69 crore vs Rs 93 crore, down 26.6%
• EBITDA at Rs 90.1 crore vs Rs 138.3 crore, down 34.8
• EBITDA Margin at 15.5% vs 22.5%

• Profit at Rs 66 crore vs Rs 53 crore, up 24.5% YoY
• EBITDA at Rs 68 crore vs Rs 85 crore, down 25.7% YoY
• EBITDA Margin at 70.9% vs 76% YoY

Wipro’s revenue is forecast to decline 1% sequentially, including an estimated 80-basis-point contribution from the AlphaNet acquisition and the full-quarter consolidation of Mindsprint. Excluding acquisitions, organic revenue is expected to fall 1.8%, reflecting a weak macroeconomic environment, pricing pressure and market share losses.

Margins are expected to remain stable sequentially but decline year-on-year due to subdued growth and upfront costs associated with lower-margin deals. Revenue guidance for the December quarter is projected at -2% to 0%, amid continued external weakness, AI-led deflationary pressures and seasonal softness.

Investors are likely to focus on Wipro’s AI strategy and efforts to offset deflationary pressures, pricing trends in renewal deals, the timeline for growth recovery relative to peers, its global capability centre (GCC) expansion strategy, and integration plans and synergies from recent acquisitions.

• Profit at Rs 426 crore vs Rs 351 crore, up 21.4% YoY
• NII at Rs 1,116 crore vs Rs 809 crore, up 37.9% YoY

• Operating profit at Rs 1,782 crore vs Rs 1,613 crore, up 16.1% YoY
• NII at Rs 2,886 crore vs Rs 2,983 crore, up 13.9% YoY
• Gross NPA at 1.96% vs 2.08% QoQ

Estimate TECHM to report 1.5% cc QoQ growth. -20bps cross-currency impact translates to 1.3% USD growth.
• Inorganic contribution likely at 15–20bps in the quarter.
• Growth will be led by recently won telecom deals.
• We expect margin to expand 20bps in Q2 despite wage hikes largely due to Project Fortius. Tailwinds – Project Fortius. Headwinds – wage hikes, investments in business.
• Expect deal wins at USD 800m to USD 1bn.

• Expect deal wins at USD 800m to USD 1bn.

• Profit at Rs 977 crore vs Rs 685 crore, up 42.6% YoY
• Revenue at Rs 9,899 crore vs Rs 6,477, up 52.8%
• EBITDA at Rs 1,423 crore vs Rs 1,020, up 39.5%
• EBITDA Margin at 14.4% vs 15.8%

• Profit at Rs 3,462 crore vs Rs 3,018 crore, up 14.7% YoY
• NII at Rs 7,719 crore vs Rs 6,551 crore, up 17.8% YoY
• Operating profit at Rs 7,090 crore vs Rs 4,837 crore, up 46.6% YoY
• Net NPA at 0.14% vs 0.15% QoQ

• Total Sales of INR 6,782.2 crore
• Total Sales Growth at 20.5%, Domestic Sales Growth at 20.4%
• EBITDA margin of 23.8%
• Profit After Tax stood at INR 1,026.8 crore, up 36.3% over the corresponding quarter
• Earnings Per Share of INR 5.32

Building on the success of NestMitrafor retailers, the company is now putting data-enabled digital tools directly into the hands of our sales teams,enabling faster decisions and sharper market execution. The sales officer app equips hundreds of salesofficers with near real-time market insights, helping them identify opportunities and improve engagement.

Prepared Dishes and Cooking Aids product group delivered strong growth. Maggi noodles continuedto expand through rural penetration, while Maggi Masala-ae-Magic continued to focus on drivinghousehold penetration by unlocking regional top dish usage across the country.

Confectionery product group recorded another strong quarter of volume led double-digit growth, drivenby continued market share gains in Kitkat and sustained momentum across Munch andMilkybar.

Pet Food business delivered strong double-digit growth, supported by sharper consumer engagement ondigital platforms and focused route to market. We continued to strengthen our presence in the cat food.

• E-commerce growth was driven by continued momentum in quick commerce, supported by better product availability, channel-specific assortments and pack sizes, stronger digital shelf execution and targeted shopper engagement.
• Organised trade also recorded strong growth across key categories, aided by better in-store execution, consumer activations, improved shelf visibility and continued expansion of the store network.
• The out-of-home business grew on the back of customer retention and acquisition, innovation and premiumisation.
• Exports sustained strong double-digit growth, driven by portfolio expansion and market development.

Estimate WPRO to report -0.5% cc QoQ growth. -10bps cross-currency impact translates to -0.6% USD growth.
• Inorganic contribution of ~80bps is expected in the quarter from Mindsprint (40bps) and Alphanet (40bps).
• We expect gradual improvement in margin given wage hikes are behind. Tailwinds – operational efficiencies. Headwind –
investments in business, acquisitions.
• We expect TCV to be in line with that in the past quarters and expect cc guidance for Q3FY27 at -1.5% to +0.5%.

investments in business, acquisitions.

According to Nestle, coffee and wheat are expected to remain range-bound, while sugar and edible oils have stabilized at elevated levels. Cocoa remains volatile due to weather-driven crop concerns in key origins. Milk prices have strengthened seasonally but should ease as flush supplies arrive.

"We remain focused on navigating these external challenges through continuous innovation and renovation, sustained investments behind our brands, and an intensified focus on productivity and operational efficiencies to mitigate commodity cost pressures,” the company said.

Growth was driven by robust, double digit volume growth, says the Nestle CMD.

The Nestle CMD said that the company saw doubles digit volume growth in this quarter, highlighting the strong and broad based growth across all products.

Nestle falls over 6% to Rs 1,302.55 on the BSE after the company reported a 36% year-on-year jump in its Q2 standalone profit to Rs 1,027 crore.

Price as on 12.33.09 PM, Click on company names for their live prices.

• Profit at Rs 1,027 crore vs Rs 753 crore, up 36.4% YoY
• Revenue at Rs 6,788 crore vs Rs 5,644 crore, up 20% YoY

Nestle India is expected to report another strong quarter, with revenue growth of around 20%, driven by healthy volume growth and sustained demand across key categories. Confectionery and beverages are likely to lead the performance, supported by premiumisation and expanding quick-commerce channels. Cost efficiencies and operating leverage are expected to support margin expansion despite inflationary pressures on input costs. Investors will track urban and rural demand trends, raw material prices and competitive intensity.

Jefferies expects Wipro to guide for organic revenue growth of -1.5% to 0.5% in the December quarter, as large deal ramp-ups provide some support. JM Financial also projects Q3 constant-currency revenue growth guidance in the range of -1.5% to 0.5%.

The Street’s biggest focus will be Wipro’s guidance for the December quarter, which is usually seasonally weak due to furloughs. Most brokerages expect weak guidance for Q3. Investors will closely track Wipro’s guidance for the December quarter, which is typically seasonally weak due

Margins are expected to improve sequentially, supported by operational efficiencies, favourable currency movements and the reversal of wage-hike-related costs. However, analysts expect the recovery to remain modest as Wipro continues to invest in AI-native businesses and platforms, while managing the costs associated with large deal transitions.

Brokerages expect Wipro’s IT services revenue to decline by 0.5% to 1.4% sequentially in constant currency terms, despite contributions from acquisitions such as Mindsprint and AlphaNet.

Wipro is likely to report subdued earnings growth for the September quarter, with investors expected to focus on its December-quarter outlook, the pace of deal ramp-ups and the impact of AI-led disruption on revenue growth. The IT services major is estimated to post around 9% year-on-year (YoY) revenue growth and a 2% increase in profit, based on the average estimates of seven brokerages.