Wipro Q1 Results: IT major Wipro added a net headcount of 15,446 employees in the quarter ended June 30 as compared to the preceding quarter, the company announced on Wednesday, July 20. This is a lot more than its peers TCS and HCL Tech, who have recently revealed the data during their Q1FY23 earnings. Announcing its Q1 earnings for FY23, Wipro also revealed that it onboarded as many as 10,000 freshers during the quarter.
As of June 30, 2022, the total employee headcount stood at 258,574, Wipro said in a regulatory filing on the day. Of this, under sales and support staff (IT Services) section, the Bengaluru-based IT company added 17,806 staff in the first quarter of the current financial year, up from 17,691 employees in the preceding quarter.
However, Wipro attrition rate stood high at 23.3 per cent in Q1FY23, which was meanwhile lower on a quarter on quarter basis. Wipro had posted 23.8 per cent attrition rate in Q4FY22, which is the previous quarter.
The IT giant reported its June quarter profit at Rs 2,563 crore, a dip of 20.9 per cent year-on-year. Wipro’s revenue for the quarter rose 17.9 per cent YoY to Rs 21,528.6 crore. Its operating margin in IT services segment decreased by 200 bps QoQ to 15 per cent.
Thierry Delaporte, CEO and managing director of Wipro, said, “We have made significant investments in Wipro’s growth engine and are very pleased with the outcomes. Our order bookings grew 32 per cent YoY in Total Contract Value terms, powered by large transformational deals, and our pipeline today is at an all-time high.
“We continue to reinforce the investments that allow us to grow our business, remain agile in the market and efficient as an organization, while staying focused on serving our clients even better,” he further said.
To address the high attrition rates, Wipro has planned to offer promotions to its employees every quarter, multiple reports have said recently. Wipro also plans to provide a salary hike of 10 per cent to most of its workforce in September, with the company’s top performers getting a salary hike of over 15 per cent. The Wipro salary hikes will be applicable up to the mid-management levels, the reports said.
Wipro has posted a higher rate of hiring than its peers who have already posted their Q1 results. HCL Technologies on Tuesday, July 12, announced that it had hired a total of 6,089 freshers for the quarter ended June 2022, with a total headcount of 210,966 employees at the global level. The company also reported a higher level of attrition than Wipro at 23.8 per cent. HCL Tech posted a net addition of 11,100 employees during the quarter.
On the other hand, India’s largest Information Technology (IT) services firm Tata Consultancy Services, or TCS, added a total of 14,136 new employees during the same quarter, which is lower than Wipro.
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