Wipro Q3 attrition rate rises to 15.3%; headcount down by 1,157 to 2,32,732 employees | Company Business News
Bangalore-based IT major Wipro Ltd, which announced its third-quarter results on Friday, saw its voluntary attrition rate rise to 15.3 per cent in the October-December quarter of the financial year 2024-25. The attrition rate was at 14.2 per cent in the same period in the previous financial year, according to the company’s BSE filing.
The company’s shares closed lower ahead of the earnings announcement. Wipro shares closed 2.15 per cent lower at ₹281.85 in Friday’s trading session, compared to ₹288.05 at the previous market close.
According to the BSE filing, the IT major’s market capitalisation stood at ₹2.95 lakh crore as of January 17.
The company also disclosed that, as of the third quarter, its total headcount stood at 2,32,732 enrolled workers.
“In a seasonally weak quarter, our strong in-quarter execution helped us deliver above the top end of our revenue guidance. We also achieved our highest margins in the past three years while continuing to invest in our people,” said Srini Pallia, the chief executive officer and managing director of Wipro Ltd in a statement.
Wipro Q3 Results
Wipro Ltd’s consolidated net profits rose 24.5 per cent year-on-year (YoY) to ₹3,353.8 crore for the October to December quarter of the financial year 2024-25, compared with ₹2,694.2 crore profits in the same period a year ago.
Revenue from operations rose nearly 1 per cent to ₹22,319 crore in the third quarter, compared to ₹22,205 crore in the same quarter of the previous financial year.
The company also declared an interim dividend issue of ₹6 per equity share or ADS. Wipro set January 28, 2025, as the record date for the company’s shareholders to receive an interim dividend issue of ₹6 per equity share of par value at ₹2 apiece.
“We expect revenue from our IT Services business segment to be in the range of $2,602 million to $2,655 million. This translates to sequential guidance of (-)1.0 per cent to 1.0 per cent in constant currency terms,” said Wipro in the official statement highlighting the future revenue expectation for the final quarter of the financial year 2024-25.
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