Wipro's Attrition Rate Moderates For Fourth Quarter In Row; Employees Count Drops

While, the voluntary attrition moderated 180 bps from previous quarter, landing at 21.2% for the trailing twelve months for the quarter. The company's headcount stood at 259,179 employees in Q2FY2.

IT major, Wipro has laid off 435

Wipro made the lowest hiring in Q2 compared to its peers. The company's headcount stood at 259,179 employees in Q2FY23 compared to the count of 258,574 employees as of June 30, 2022 - a net addition of merely 605 employees. In Q1FY23, the company added 15,446 employees. While it onboarded more than 10,000 freshers during this period.

Wipro's attrition rate has moderated for the third consecutive quarter. The company's voluntary attrition measured in the trailing twelve months for the quarter was at 23.0% -- a moderation of 30 basis points from the June 2022 quarter where the attrition rate was at 23.3%.

Wipro's net profit rose by 2.82 per cent to ₹3,052.9 crore in quarter ended December 2022 as against Rs2,972.3 crore in corresponding quarter last fiscal. The revenue from operations stood at ₹23,229 crore, up 14.35 percent against ₹20,313.6 crore in the corresponding quarter.

The company has declared a dividend of ₹1 per share.