Yesterday, Bangaluru based IT major Wipro has announced results for the First Quarter ended June 30, 2021.
Highlights of the Results
- Gross Revenue was ₹182.5 billion ($2.5 billion1), an increase of 12.4% QoQ and 22.4% YoY
- IT Services Segment Revenue was at $2,414.5 million, an increase of 12.2% QoQ and 25.7% YoY
- Net Income for the quarter was ₹32.3 billion ($434.8 million1), an increase of 35.2% YoY
- Wipro’s IT Services workforce crossed the milestone of 200K, closing headcount at 209,890
- In June 2021, Wipro issued its first ever dollar denominated bond offering of $750 millionwith a 5-year tenor
Thierry Delaporte, CEO and Managing Director said, “Despite the severe onslaught of the pandemic, we delivered our best-ever quarter, with secular growth across all SMUs, Sectors and GBLs. Our sequential revenue growth of 12.2% was well ahead of the top-end of our guidance range, both organically and with Capco. Though in the early days yet, I am pleased with the way we have collaborated with Capco to build our joint go-to-market offerings and strategy. We remain focused on deepening our customer relationships, investing in talent & capabilities for the future, and winning market share.”
Wipro has crossed the 2.0 Lakhs milestone with a total headcount of 209,890 globally. the company has hired 12,150 employees during the first quarter of FY22.
Bengaluru-based IT major had attrition at 15.5% in first-quarter which is higher than the previous quarter 12.1% in Q4 FY21.
“The company will onboard 6,000 freshers in the next quarter Q2 FY22, and will hire 30,000 freshers in the financial year 2021-22.”
We’re planning to bring employees back to office from September 2021 as vaccination has picked up, depending on the pandemic and third wave, said Saurabh Govil, Global Head-HR, Wipro.
We have vaccinated 58 percent of employees with first dose and 10 percent with both doses, he said.
Speaking to the media Govil said, “Return to office plan will vary between country by country and different stages of the pandemic. This will not be one size fits all.”
Its peer companies TCS and Infosys are too planning to bring employees back to office.
Jatin Dalal, Chief Financial Officer said, “We delivered a robust growth in EPS of 41% YoY even as we continued to invest for growth. At 103.7% of our net income, our operating cash flows for the quarter remained healthy. I am also pleased to share that we have successfully issued our debut bond offering in the international markets for $750 million.”
