On Wednesday, October 13, Wipro stated that it would hire 25,000 freshers in the coming fiscal year as the competition for talent in the tech sector continues. Voluntary attrition at Wipro also increased throughout the quarter, with 20.5 per cent in Q2 compared to 15.5 per cent in Q1.
In the middle of this, the corporation just announced the second round of compensation hikes, which will take effect in September. “We just finished a compensation increase for 80% of our employees, making it the second raise this calendar year,” said CFO Jatin Dalal. It happened as the firm released its financial results for the third quarter, which ended on September 30.
The company added 11,475 people sequentially, bringing the total headcount to 2,21,365.
Wipro hired 8,100 freshers from campuses in the June-September quarter, according to the company. It was the company’s highest-ever quarterly fresher addition, with a target of about 6,000 people.
CEO Thierry Delaporte said that fully vaccinated senior members of the office are now coming in twice a week and that the process of resuming work will be slow.
Wipro’s Chief Human Resources Officer, Saurabh Govil, stated that the business would invite anyone to return to work, but only if they are completely vaccinated.
Wipro recorded a net profit of Rs 2,930 crore for the quarter ended September 30, a 9.6% drop from the previous quarter. Wipro’s profit increased by 18.9% on a year-over-year basis. Revenue increased 7.8% quarter over quarter and 30.1 per cent year over year for the company.
In the fourth quarter, Wipro forecasts revenue from the IT Services division to expand by 2-4 per cent sequentially, or 27-30 per cent in constant currency terms.
“The Q2 results reflect that our business plan is performing well,” stated Thierry Delaporte, CEO and Managing Director. For the second quarter in a row, we increased at over 4.5 per cent organic sequentially, resulting in a 28 per cent YoY increase in the first half of this fiscal year.” He went on to say that the company’s annualised sales run rate has crossed the $10 billion mark.
Even after absorbing the full impact of its recent acquisitions and investing across sales, capabilities, and talent, CFO Jatin Dalal said it maintained its operating margins in Q2.