Bengaluru-based IT services major, Wipro, reported robust financial performance for the second quarter of FY25.
Despite a challenging business environment, Wipro’s revenue remained resilient. In this report, we will be discussing the key highlights.
Wipro’s net profit surged by an impressive 21.2% year-on-year (YoY), reaching ₹3,208.8 crore.
This growth reflects the company’s effective cost management and strategic execution.
The company’s consolidated revenue fell 1 percent on-year to Rs 22,302 crore in the July-September quarter from Rs 22,543 crore in the year-ago period.
Wipro Q2 FY25 Results: Headcount and Hiring Trends
Wipro’s headcount dynamics provide valuable insights into its workforce management.
Total headcount for the quarter stood at 233,889, this is 10,818 fewer employees YoY from Q2FY24 when the headcount was 244,707.
Wipro added 978 employees in the second quarter ended September 30, 2024, a second consecutive quarter of headcount increase.
Wipro’s voluntary attrition rate increased to 14.5% on a trailing 12-month basis, indicating the competitive talent landscape in the IT sector.
The company is actively addressing this challenge to retain and attract skilled professionals.
Wipro plans to onboard between 2,500 and 3,000 freshers every quarter in FY25.
This commitment to nurturing young talent aligns with the company’s growth objectives.
While focusing on fresh talent, Wipro also continues to assess its lateral and campus hiring models.
The goal is to strike a balance between existing employee utilization and strategic hiring to drive margins.
Comparison with Previous Quarters
Let’s compare Q2 FY25 results with the preceding quarters:
Wipro’s net profit growth of 21% YoY demonstrates its resilience and adaptability in a dynamic market.
Despite economic uncertainties, Wipro’s revenue remained steady, with only a marginal decline compared to the previous year.
The increase in attrition rate warrants attention, and Wipro is actively addressing this challenge.
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