India’s IT major, Wipro has announced its first quarter results ending on June 30 for the financial year 2023.
The company reported a 21% fall in June-quarter profit on Wednesday as higher employee-related costs pushed up the information technology services firm’s overall expenses.
Revenue from operations rose nearly 18% to Rs 21,529 crore as against Rs 18,048 crore in Q1FY22.
Thierry Delaporte, CEO and Managing Director, Wipro said: “We have made significant investments in Wipro’s growth engine and are very pleased with the outcomes”.
“Our order bookings grew 32% YoY in Total Contract Value terms, powered by large transformational deals, and our pipeline today is at an all-time high. We continue to reinforce the investments that allow us to grow our business, remain agile in the market, and be efficient as an organisation while staying focused on serving our clients even better,” Delaporte added.
Banagluru-based, IT major has added 15,000 employees in the first quarter of this fiscal with a total headcount of 258,574 employees on June 30, 2022. Which was 243,128 in the previous quarter, on March 31, 2022.
Wipro onboarded more than 10,000 freshers during April to June quarter.
The company has reported an attrition rate of 23.3 percent, slightly lower than the previous quarter’s 23.8 percent, but significantly higher than 15.5 percent during the corresponding quarter last year.
The total strength of the sales and customer support team in the Company stands at 17,806, which, interestingly, makes up for 6.8 percent of the total strength of the workforce.
In the last quarter of FY 2021-22, Wipro hired 11,457 employees, of which, only 96 included sales and customer support staff.
Wipro’s hiring in the reporting quarter has been higher than other IT companies. HCL added 2,089 employees and its attrition rate rose to 23.8 percent as compared to 21.9 percent in the previous quarter.
TCS added 14,136 employees in the April to June quarter with a total workforce of 6,06,331 employees globally and women account for 35.5 percent of the TCS workforce. The IT company added 14,136 employees, and its attrition rate climbed up from 17.4 percent in the last quarter of the previous fiscal to 19.7 percent in the reporting quarter.
Earlier Wipro had announced that it is rolling out salary hikes and promotions to control and limit rising attrition. The top performers may get a salary hike of over 15 percent, however, most of the employees will get a pay hike of 10%.
The company will be announcing promotions quarterly from this month up to the mid-management level. Salary hikes will take place from September.
