The two IT majors of India, Infosys & Wipro have informed to announce Q3 results on 12 & 13 January respectively.
Infosys
India’s second-largest IT service provider, Infosys will announce its earnings for the quarter ending December on January 12. The board of directors will meet on January 11 and 12 to discuss the same, the company said in an exchange filing.
The statement read, “The Company will close the trading window for the earnings release of the quarter ending 31 December 2022 in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended.”
Infosys’ attrition in Q2FY23 stood at 27.1 percent. The company’s attrition for the last quarter was 28.4 percent. There is a sequentially fall in attrition on a trailing twelve-month basis. Infosys announced that its employees will be receiving 65 percent variable pay for the July – September quarter of FY23.
The company’s headcount stood at 3,45,218 as of September 30, 2022, from 3,35,186 in Q1FY23. The net addition of 21,171 people in the first quarter ended on June 30.
Wipro
Wipro results for the third quarter ending December 31 2022 will be announced on 13 January 2023, Friday after stock market trading hours in India. The Quiet Period begins on the 16th day of the third month of every quarter and ends on the date of earnings release of the respective quarter. The Analysts have been requested to plan communication events accordingly.
Wipro added 605 new employees in Q2. As of September 30, 2022, Wipro’s headcount in IT services increased to 259,179 from 258,574 at the end of June.
The company has reported an Attrition Rate of 23% in Q2, moderating slightly from 23.3% in the previous quarter. On the other hand, Wipro paid out 100 percent of variable pay to 85 percent of employees for the second quarter
