Wipro Faces Rs 300 Crore Hit from New Labour Codes in Q3 Earnings

• Wipro reported an exceptional charge of Rs 302.8 crore in Q3 FY26 due to new labour codes, impacting gratuity liability.
• CFO Aparna C. Iyer stated Wipro was well-prepared, anticipating minimal ongoing impact compared to peers.
• TCS, Infosys, and HCLTech collectively incurred over Rs 4,373 crore in similar exceptional charges.
• Wipro's consolidated net profit for Q3 FY26 fell 4% QoQ and 7% YoY to Rs 3,119 crore, partly due to labour code adjustments.
• Adjusted for labour code impact, Wipro's net income would have increased by 3.6% QoQ and 0.3% YoY.

Why It Matters: Wipro took a significant Rs 300 crore hit from new labour codes, impacting Q3 profits but less than competitors.