Wipro will be adding 25,000 freshers in the next financial year, the company announced on Wednesday, October 13, as the war on talent continues in the tech sector. Wipro’s voluntary attrition also shot up during the quarter, with 20.5% in Q2 vs 15.5% in Q1. Amidst this, the company recently rolled out a second set of salary increases effective September. “We completed a salary increase covering 80% of our colleagues, making it the second hike in this calendar year,” CFO Jatin Dalal said. This came as the company announced its results for the quarter ending September 30.
Sequentially, the company had a net addition of 11,475 employees, with a total headcount of 2,21,365. In terms of hiring from campuses, Wipro said it hired 8,100 freshers in the June-September quarter. This was the company’s highest-ever fresher addition in a quarter, and it originally had a target of around 6,000.
In terms of returning to work, CEO Thierry Delaporte said that fully vaccinated senior members of the office are now coming in twice a week, and that the process of bringing people back to work will be gradual.
Chief Human Resources Officer at Wipro Saurabh Govil said that the company will ask people who are keen to return to office to come in, and it will only be those who are fully vaccinated.
Wipro reported a net profit of Rs 2,930 crore for the quarter ending September 30, and saw a sequential decline of 9.6%. On a year-on-year basis, Wipro’s profit was up by 18.9%. The company saw revenue go up by 7.8% quarter-on-quarter, and 30.1% on a year-on-year basis.
For its outlook for the quarter, Wipro said it expects revenue from the IT Services business to have a sequential growth of 2-4%, or 27-30% in constant currency terms.
Thierry Delaporte, CEO and Managing Director said, “The Q2 results demonstrate that our business strategy is working well. We grew at over 4.5% organic sequential growth for a second quarter in a row, resulting in a 28% YoY growth in the first half of this financial year.” He added that the company surpassed the $10 billion milestone of annualised revenue run rate.
CFO Jatin Dalal said the company sustained its operating margins in Q2 even after absorbing the full impact of its recent acquisitions and investing across sales, capabilities and talent.