By Arunkumar Rao,
Bengaluru:– Wipro, Leading technology services and consulting company, announced a Net Income of Rs 26.6 billion and Earnings Per Share of Rs 4.86, for the quarter ended September 30, 2022. As per the financial results for Q2 announced on Wednesday during the pressconference at Wipro campus , IT Services Segment Revenue was at $2,797.7 million, an increase of 8.4 per cent YoY and reported a 9.3 per cent drop in its September quarter net profit, weighed down by rising staff expenses and lower non-US earnings.
“The solid growth in our bookings, large deal signings, and revenues underscores our improved market competitiveness and enhanced value proposition,” said Thierry Delaporte, CEO and Managing Director in his address. Profit attributable to equity shareholders of the company was 9.3 per cent lower at Rs 2,659 crore. Our ongoing investments in high-growth strategic areas have allowed us to steadily increase out win rate and enhance the quality of our pipeline. We continue to invest in and upskill out talents to stay ahead of our clients evolving needs, we Promoted more than 10,000 colleagues and increased salaries across bands he added.
Jatin Dalal, Chief Financial Officer, said, “We achieved margins of 15.1 per cent in Q2 after absorbing the impact of salary increases and promotions”. He said, “Our margin improvement was led by better price realisations and strong operational improvements in automation-led productivity. Our Operating Cash Flows was robust and at 181 per cent of our net income for the year.” However The attrition rate marginally dropped to 23 per cent in Q2, from 23.3 per cent in the preceding quarter.Hiring was at a slower pace for the quarter, he added.
High light of the Results:-
Gross Revenue was rs 225.4 billion ($ 2.8 Billion) , an increase of 14.6% YOY.
IT Services Segment Revenue was at $2.797.7 million, an increase of 8.4% YOY
IT services operating Margin for the quarter was 15.1%, an increase of 16 bps QoQ.
Company closing Employee count in IT Services increased to 259,179.
Company top 5 clients frew 19% YOY and top 10 clients grew 17% YOY in constant currency terms.
