Yesterday, Bengaluru based-IT major Wipro has announced its second quarter (the quarter ended September 30, 2021) of the financial year 2022 results.
The company reported sharp rise in the attrition rate at 20.5 per cent from 15.5 per cent in the last quarter as the demand for IT professionals increased.
The company has onboarded a record 11,475 people in Q2. It hired 8,150 freshers during the quarter, higher than the target of 6,000.
Wipro will hire 30,000 freshers from the campus for the next financial year 2022-23. The company will hire over 12,000 freshers in the current financial year, which is 33 per cent more than last year. This is in a bid to address rising attrition and build the supply chain, even as the demand remains robust.
The company reported a 9.6 per cent sequential decline in consolidated net profit for the quarter ended September to Rs. 2,930.7 crore. Its consolidated revenue for the quarter climbed 7.7 per cent quarter-on-quarter to Rs. 19,667.4 crore, which beat Street’s expectations.
For the second quarter, the IT services segment recorded sequential growth of 6.9 per cent in US dollar terms to $2.58 billion.
Commenting on the outlook for the quarter ending December 31, 2021, the company said, “We expect Revenue from our IT Services business to be in the range of $2,631 million to $2,683 million. This translates to a sequential growth of 2.0% to 4.0%”
Thierry Delaporte, CEO and Managing Director said, “The Q2 results demonstrate that our business strategy is working well. We grew at over 4.5% organic sequential growth for a second quarter in a row, resulting in a 28% YoY growth in the first half of this financial year. I thank our customers, partners, and colleagues as we surpassed the $10Bn milestone of annualized revenue run rate.”
Jatin Dalal, Chief Financial Officer said, “We sustained our operating margins in Q2 in a narrow band even after absorbing the full impact of our recent acquisitions and investing significantly in our business across sales, capabilities, and talent. We completed a salary increase covering 80% of our colleagues, making it the second hike in this calendar year. We delivered robust growth in EPS of 23.8% YoY.”