Wipro Q4 net rises 4% on continued demand


Tech services firm Wipro said consolidated net profit grew 4% to ₹3,092.5 crore for the quarter ended March, compared with a year earlier. Total revenue rose 28% to ₹20,860 crore from a year earlier. IT services revenue stood at $2.72 billion, an increase of 3.1% q-on-q and 26.4% y-on-y.

For FY22, Wipro’s net profit climbed 12.6% to ₹12,232.9 crore, while revenue jumped 28% to ₹79,747.5 crore.

““Our order bookings grew 30% y-on-y, and we are finishing off the year with the highest ever pipeline,” said CEO and MD Thierry Delaporte.

For the first quarter of FY23, the firm said it expected IT services revenue to be in the range of $2,748 million to $2,803 million, reflecting growth of 1-3%.

Wipro added a net of 45,000 employees in FY22, of whom 19,000 were freshers. The firm said it would hire 38,000 freshers in FY23. However, attrition remained high at 23.8% in Q4.

“Our quarterly annualised attrition rates have moderated by 500 basis points. We doubled our fresher intake for FY22 when compared to the previous year. Our plan is to double this in FY23 as well,” Mr. Delaporte said.

Saurav Govil, CHRO, said the supply-demand gap was still existing and therefore the pressure continued. “Supply-side situation is robust. But we have enough engagement and we have enough inventory. We have hired freshers and laterals in FY21. We have also given promotions and a five-year career road map to freshers,” he added.

CFO Jatin Dalal said the company’s efforts on client mining had resulted in an addition of eight customers in the more than $100-million bucket on a y-on-y basis. “We delivered operating margins of 17.7% for the year, after significant investments in solutions, capabilities and talent,” he said. “Net Income for the year was highest ever at $1.6 billion and we delivered robust growth in EPS of 17.0% y-on-y,” the CFO added.

(With PTI inputs)

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