{"id":67852,"date":"2022-10-12T17:15:00","date_gmt":"2022-10-12T11:45:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=67852"},"modified":"2022-10-12T17:10:46","modified_gmt":"2022-10-12T11:40:46","slug":"biz-ld-results-wipro-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ld-results-wipro-2\/","title":{"rendered":"Wipro Q2 Results: Net profit drops 9.3% to Rs 2,659 cr, Revenue increases 14% YoY"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1022214227\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>IT services major Wipro Ltd on Wednesday reported a 9.3 per cent drop in its September quarter net profit, weighed down by rising staff expenses and lower non-US earnings.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3028468105\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>Profit attributable to equity shareholders of the company was 9.3 per cent lower at Rs 2,659 crore, the company said in a statement.<\/p>\n<p>The company had reported a consolidated net profit of Rs 2,930.6 crore in the same period a year back.<\/p>\n<p>However, on a sequential basis, profit rose 3.72 per cent in the quarter under review, from Rs 2,563.6 crore in the previous June quarter.<\/p><div class=\"trade-content_5\" id=\"trade-3623428248\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The Bengaluru-based company&#8217;s revenue from operations stood at Rs 22,539.7 crore, a 14.60 per cent growth over Rs 19,667.4 crore in the previous year.<\/p>\n<p>Operating margin for the quarter came in at 15.1 per cent, an increase of 16 bps quarter-on-quarter, the company said in a filing.<\/p>\n<p>&#8220;The solid growth in our bookings, large deal signings, and revenues underscores our improved market competitiveness and enhanced value proposition,&#8221; said Thierry Delaporte, CEO and Managing Director.<\/p>\n<p>The firm promoted over 10,000 employees and its attrition rates recorded a third consecutive quarter of moderation.<\/p>\n<p>Jatin Dalal, Chief Financial Officer, said, &#8220;We achieved margins of 15.1 per cent in Q2 after absorbing the impact of salary increases and promotions.<\/p>\n<p>&#8220;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.&#8221; The attrition rate marginally dropped to 23 per cent in Q2, from 23.3 per cent in the preceding quarter.<\/p><div class=\"trade-content-10\" id=\"trade-1235316765\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Hiring was at a slower pace for the quarter ending September 30, 2022. Wipro added 605 net employees.<\/p>\n<p>As of September 30, 2022, Wipro&#8217;s employee count in IT services increased to 259,179 from 258,574 at the end of June.<\/p>\n<p>Wipro&#8217;s voluntary attrition measured in the trailing 12 months for the quarter was at 23.0 per cent &#8212; a moderation of 30 bps from the June 2022 quarter. Its attrition rate was low at 20.5 per cent during Q2 of FY22.<\/p>\n<p>The company had added 15,446 employees in Q1FY23, while it onboarded more than 10,000 freshers during this period.<\/p>\n<p>Wipro said earnings from its clients in non-US markets fell in the second quarter.<\/p>\n<p>Earnings from Europe dropped to Rs 787.5 crore, from Rs 918.6 crore a year back.<\/p>\n<p>Similarly, the Asia Pacific\/Middle East\/Africa (APMEA) region saw lower earnings of Rs 219.4 crore, as compared to Rs 302.8 crore last year. PTI ANZ DRR<\/p>\n<div class=\"trade-after-content\" id=\"trade-890149160\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>IT services major Wipro Ltd on Wednesday reported a 9.3 per cent drop in its September quarter net profit, weighed down by rising staff expenses and lower non-US earnings. Profit attributable to equity shareholders of the company was 9.3 per cent lower at Rs 2,659 crore, the company said in a statement. The company had [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":15209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-67852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wipro Q2 Results: Net profit drops 9.3% to Rs 2,659 cr, Revenue increases 14% YoY - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ld-results-wipro-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wipro Q2 Results: Net profit drops 9.3% to Rs 2,659 cr, Revenue increases 14% YoY\" \/>\n<meta property=\"og:description\" content=\"IT services major Wipro Ltd on Wednesday reported a 9.3 per cent drop in its September quarter net profit, weighed down by rising staff expenses and lower non-US earnings. 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