Wipro, India's fourth-largest software-services exporter, has reported better-than-expected revenue for the seasonally weak third quarter, signaling early indications of a rebound in client demand for its consulting services. The results, which surpassed analyst estimates, contributed to a 3.5% increase in Wipro's ADRs in pre-market trading. The positive performance aligns with signals from larger rivals Tata Consultancy Services (TCS) and Infosys, indicating that demand did not worsen in the quarter, contrary to industry concerns.

Wipro's CEO, Thierry Delaporte, highlighted a "stabilization now from revenue deceleration," and noted "early signs of a return to growth" in the consulting business, with double-digit growth at Capco, a firm acquired by Wipro in 2021. The company's Q3 revenue of INR 222.05 billion ($2.68 billion) exceeded the average estimate, supported by improved deal momentum.

While macroeconomic challenges persist, Wipro's optimistic outlook for the March quarter and positive commentary on consulting services suggest a potential turnaround, especially if macro conditions improve. The IT services company's Q3 profit of INR 26.94 billion slightly surpassed expectations, providing a boost in an industry grappling with sluggish demand.