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<ul><li>Wipro reported that it added 7,000 employees to the company over the last three months during its first-quarter earnings call. <br /></li><li>Saurabh Govil, Wipro’s Chief Human Resources Officer (CHRO), said the company will continue hiring in Q2.<br /></li><li>Even though Wipro doubled its hiring in 2019-20, its net addition of employees was in the red suggesting low attrition.<br /></li></ul>Wipro has hired new 7,000 employees in the last three months, their first quarter, between April to June. And, they plan to keep on hiring, according to Wipro’s Chief Human Resources Officer (CHRO) Saurabh Govil. <br /><br />This comes in the backdrop Wipro reporting the largest decline in employees during the last quarter in comparison to its peers Tata Consultancy Services (TCS), Infosys and other Indian IT services companies.“Lateral hiring never stopped,” said Govil during the first-quarter earnings call. “We will continue to hire in Q2 based on demand,” he added.<br /><br /><div type="Article" hostid="261" msid="76960126" title="Wipro management pins hope on wider margin and new clients while revenue takes a dip" mstype="2" mssubtype="0"></div><br />Govil added that the company has started on-boarding freshers as per earlier offers. “It would be staggered and delayed based on business requirements,” he said.<br /><br />Even last quarter, Govil asserted that hiring would not be suspended at Wipro in lieu of the coronavirus pandemic. However, the company did not rule out furloughs and leaves at the time.<br /><br /><div type="Article" hostid="261" msid="75173292" title="Wipro's hiring will be slower in the coming months and current employees may be asked to go on leave without pay" mstype="2" mssubtype="0"></div><br /><strong>Wipro in comparison to top Indian IT companies<br /></strong>Indian IT services companies have been pushing on fresh hiring as the industry’s attrition rate continues to remain flat. Despite new hires being on the rise, companies across the board reported a dip in total employees. <br /><br />Even Wipro doubled its hiring in 2019-20, however, its total employee count was lower than the year before. Even its net addition of new employees has been the lowest in comparison to TCS and Infosys. While TCS’ numbers were in the ten-thousands, Wipro was still in single digits if not bleeding employees. <br /><br /><div type="Article" hostid="261" msid="75669358" title="Hiring at Infosys and Tech Mahindra is down at least 40% in line with the trend in top five IT firms⁠— and it's not just because of COVID-19" mstype="2" mssubtype="0"></div><br />Last quarter, while Infosys also reported a dip in employees, Wipro’s drop in net addition was four times higher. <br /><br /><div type="image" title="Hiring IT" msid="76972636" hostid="261" caption="&amp;lt;p&amp;gt;Hiring across top 3 Indian IT services companies&amp;lt;/p&amp;gt;"></div><br />Even though Wipro plans to keep hiring in the coming quarter, Govil pointed out that all hiring will happen depending on demand. <br /><br />Its utilisation levels this quarter also stood at 75% — 1.6% higher than the previous quarter. According to Wipro Chief Financial Officer (CFO), Jatin Dalal, higher utilisation was one of the factors behind Wipro’s margin expansion this quarter. “We also kept a tight watch on incremental spend… Third is foreign exchange,” he said. <br /><br />Wipro Chairman Rishad Premji disclosed that the company hasn’t laid off a single employee during the coronavirus pandemic during the Annual General Meeting (AGM) on Monday.<br /><br />The National Information Technology Senate (NITES) has alleged in May that Wipro was benching many employees, mainly those at its Pune office, who were subsequently laid off. A claim that Wipro denies. <br /><br /><strong>SEE ALSO: <br /></strong><a href="https://www.businessinsider.in/business/corporates/news/hiring-at-infosys-and-tech-mahindra-is-down-40-in-line-with-the-trend-in-top-five-it-firms-and-its-not-just-because-of-covid-19/articleshow/75669358.cms">Hiring at Infosys and Tech Mahindra is down at least 40% in line with the trend in top five IT firms⁠— and it's not just because of COVID-19</a><br /><br /><a href="https://www.businessinsider.in/careers/news/tcs-hiring-again-with-5-employees-to-return-to-offices/articleshow/76887172.cms">TCS to kickstart lateral hiring and bring back 5% of its employees to offices</a><br />

After last quarter’s massive dip, Wipro adds 7,000 employees with plans to continue hiring in Q2

<ul><li><keyword id="1912963" type="PERSON" weightage="20" keywordseo="Wipro-share-price">Wipro share price</keyword> has jumped by 16% on Wednesday morning after the Indian IT services giants announced its Q1 results on Tuesday.<br /></li><li>Piggybacking on Wipro’s surge, <keyword id="620690" type="PERSON" weightage="20" keywordseo="Infosys-share-price">Infosys share price</keyword> is also up by 8%.<br /></li><li>Analysts expect the impact of the coronavirus impact on Infosys — which is set to announce its results today evening, July 15 — to be less than its peers.<br /></li></ul>Wipro’s share price is up by over 16% after the company announced its first-quarter results yesterday. Building on that momentum, Infosys share price — who is set to announce its Q1FY21 results after the stock market closes today — is surging by 8%.<br /><br /><div type="image" title="wipro share price (1)" msid="76974011" hostid="261" caption="&amp;lt;p&amp;gt;Wipro share price over the past month&amp;lt;/p&amp;gt;"></div><br /><div type="image" title="infosys share price (4)" msid="76974001" hostid="261" caption="&amp;lt;p&amp;gt;Infosys share price over the past month&amp;lt;/p&amp;gt;"></div><br />Wipro’s gross revenue was down 5.1% this quarter as compared the previous quarter, and most of it came from the drop in revenue from IT services which fell by 7.3% quarter on quarter (QoQ).<br /><br /><div type="image" title="Wipro revenue" msid="76973854" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s gross revenue and growth trajectory over the last five quarters&amp;lt;/p&amp;gt;"></div><br />However, it announced that it onboarded 7,000 new employees in the last three months, with plans to continue lateral hiring in the second quarter of 2020-21.<br /><br /><strong>Infosys to announce Q1 results on Wednesday<br /></strong>After the results of Tata Consultancy Services (TCS) and Wipro, Infosys is set to announce its first-quarter results on Wednesday evening, July 15. Analysts expect Infosys to be less impacted than its peers. <br /><br />All eyes will be on new large deals that the Indian IT services giant was able to bring in over the next three months as well as the impact across different segments. The manufacturing and auto vertices are likely to see continued pressure.<br /><br />Piggybacking on Wipro’s jump in share price, the Infosys stock is also rising as investors expect the company’s results to be better than its counterparts.<br /><strong><br />SEE ALSO:<br /><a href="https://www.businessinsider.in/careers/news/tcs-hiring-again-with-5-employees-to-return-to-offices/articleshow/76887172.cms">TCS to kickstart lateral hiring and bring back 5% of its employees to offices</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/wipro-q1-earnings-preview-growth-revenue-margins-theirry-delaporte/articleshow/76951601.cms">A new CEO, Brexit and supply-side exposure may leave Wipro’s Q1 earnings more dented than others</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/infosys-earnings-what-to-expect-and-comparison-with-tcs/articleshow/76952717.cms">The key thing to watch out for during Infosys earnings will be the size of the new deals</a></strong><br />

Wipro share price 16% increase leads to surge in Infosys share price too

<br /><br /><ul><li>IT major Wipro’s first quarter net profits grew by 12.6% at ₹23.9 billion as compared to that of the same quarter last year, which was at ₹21.2 billion<br /></li><li>The company’s revenues for the first quarter of 2019-20 grew by 5.3% to ₹147.2 billion as compared to last year’s first quarter revenues at ₹139.8 billion.<br /></li><li>However, the operating margins for the IT services segment had a flat growth at 18.4%, growing by a mere 0.8%. <br /></li></ul>IT major Wipro’s first quarter net profits grew by 12.6% to ₹23.9 billion as compared to that of the same quarter last year. This was better than the 11% profit growth clocked by Tata Consultancy Services (TCS) and Infosys’ 5%.<br /><br />Wipro said it expects its IT services revenue will grow, at best, 2% in the following three months ending September, similar to that of Infosys.<br /><br />Infosys had projected a total growth 8.5% to 10% for the full year ending March 2020, which would imply a compounded quarterly growth 1.6% to 1.9%, according to a BOBCAPS research report. TCS to hinted at a double-digit growth for the year.<br /><br />Wipro’s revenue for the first quarter of 2019-20 grew by 5.3% to ₹147.2 billion but the margin in the IT services segment flattened at 18.4%. “We had a slower start to the year, we however remain focused on our operations and continue to invest in talent and capabilities for the future,” said Jatin Dalal, Chief Financial Officer of Wipro. <br /><br /><strong>New deals<br /></strong><br />All three major IT service providers from India have bagged new clients helping their outlook going forward. “Our efforts on client mining have resulted in an addition of three customers in more than $100 million bucket. We will continue to build differentiated capabilities to drive business transformation for our customers by investing in our big bets,” said Abidali Z. Neemuchwala, CEO and Executive Director at Wipro. <br /><br />TCS and Infosys too, announced big signings last week along with their quarterly numbers. TCS bagged new deals worth $5.7 billion in the last quarter while Infosys set a new record for itself with new deals worth $2.7 billion.<br /><br />However, the good news for investors is that Wipro plans to continue with its proposed buyback offer of 323 billion shares, which was approved by the board in April, after a green light from market regulator SEBI. The final shareholder approval came in on June 21.<br /><br />Investors may have been worried that the company may rollback the plan after the government decided to impose a 20% tax on share buyback because companies were using share buybacks to give money back to shareholders instead of dividends, which are also taxable in India.<br />

Wipro’s profit grows faster than TCS and Infosys — but it’s share buybacks and new deals keeping hopes up for IT investors

Shares of IT services major Wipro fell 3.50 per cent on Wednesday after the company posted a 2.17 per cent dip in consolidated net profit for December 2019 quarter.
 The scrip declined 3.50 per cent to close at Rs 248.15 on the BSE. During the day, it dropped 4 per cent to Rs 246.65.
<br /><br /> At the NSE, shares dipped 3.49 per cent to close at Rs 248.20.
<br /><br /> In terms of volume, 3.66 lakh shares of the company were traded on the BSE during the day, while over 1 crore shares changed hands on the NSE. 
<br /><br /> The company declared its October-December quarter earnings post market hours on Tuesday.
<br /><br /> It posted a 2.17 per cent dip in consolidated net profit at Rs 2,455.9 crore for December 2019 quarter and estimated up to 2 per cent revenue growth for the fourth quarter.
<br /><br /> Wipro's net profit, attributable to shareholders, in the year-ago period was at Rs 2,510.4 crore.
<br /><br /> Its revenue from operations grew 2.7 per cent to Rs 15,470.5 crore during the period under review from Rs 15,059.5 crore in the same quarter last year (as per Ind-AS).<br /><br />
<br /><br /> Wipro, which gets bulk of its topline from IT services, said it expects revenues from that unit to be in the range of USD 2,095 million to USD 2,137 million in the March quarter. 
<br /><br /> This translates into a sequential growth of flat to 2 per cent.   SUM
RVK

Wipro's shares dip by 3.5% after profits slipped 2.1% in Q3

<ul><li>Wipro announced seven major deal wins in the past 12 months in the more than $100 million category.</li><li>The IT services major also suggested that it is steady on the path of $10 billion annual revenue run rate.</li><li>Wipro also revealed that it now has the highest number of large clients yet.</li></ul>Wipro’s management guidance for the March quarter is that the revenue from its IT services business to grow 2-4%. That’s better than the 1.9% growth clocked in the December quarter.<br /><br />Since companies like Wipro, TCS, and Infosys export software, and earn in dollars, pounds or euros, they report growth in constant currency terms, which is adjusted for foreign exchange fluctuations.<br /><br />Wipro ADRs (American Depository Receipts) were down by 1.5% as of 5:30 p.m., today (January 12).<br /><br />In its exchange filing, <keyword id="597306" type="General" weightage="20" keywordseo="wipro-ceo" source="Orion">Wipro CEO</keyword> and Managing Director Thierry Delaporte said that the company added seven new customers, each bringing in revenues of over $100 million, in the past 12 months, the highest yet.<br /><br />“We are also excited to have completed the acquisitions of Edgile and LeanSwift Solutions in the quarter, both of which will add to our capabilities significantly,” Delaporte added.<br /><br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dec-21<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sept-21<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT services revenue<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.66 billion<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.61 billion<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,972 crore<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,997 crore<br /><br /></td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1%<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /><em>Source: Company reports, $ in constant currency terms</em><br /><br />The Bengaluru-based IT company reported a 29.6% growth in its revenue, year-on-year, while IT services margin remained strong at 17.6%.<br /><br />    <div type="image" title="Wipro IT services revenue $ CC - Q3 FY22." msid="88856195" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s IT services revenue over the past eight quarters&amp;lt;/p&amp;gt;"></div><br /><cmsannotation type="cmsannotation" annotationid="New large deals in the quarter – from healthcare to waste management and more" comment="subhead" text="New large deals in the quarter – from healthcare to waste management and more"><span data-til="noop">New large deals in the quarter – from healthcare to waste management and more</span></cmsannotation><br /><br />Wipro stated that it has signed new deals across various industries, including healthcare, waste management, manufacturing and more.<br /><br />In its IT services segment, Wipro signed up clients across healthcare, manufacturing, retail brokerage, and hospitality sectors, all of which are US-based.<br /><br />In its Digital services segment, the company signed up a Brazilian water and waste management company, apart from three other US-based clients to enhance their cloud security and digitisation programs.<br /><br />The company’s board has also declared an interim dividend of ₹1 per share.<br /><br /><cmsannotation type="cmsannotation" annotationid="Omicron forces Wipro to close its offices globally for the next four weeks" comment="subhead" text="Omicron forces Wipro to close its offices globally for the next four weeks"><span data-til="noop">Omicron forces Wipro to close its offices globally for the next four weeks</span></cmsannotation><br /><br />The relentless surge of the Omicron variant of Covid-19 has forced Wipro to close its offices globally for the next four weeks.<br /><br />The company CEO Delaporte stated that the return to offices would be re-calibrated based on the evolving situation of the pandemic.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro increases hiring plan to 30,000 as attrition hits a new high</a><br /><br /></strong><a href="https://www.businessinsider.in/tech/enterprise/news/infosys-saw-its-revenue-grow-by-7-in-q3-fy22/articleshow/88855661.cms"><strong>Infosys raises full year guidance after the best quarter in at least eight</strong></a><br />

Wipro CEO says dollar revenue will grow 2-4% in the next three months

New Delhi, Jul 15 () Shares of Wipro on Wednesday jumped over 19 per cent after the company posted an increase in consolidated profit to Rs 2,390.4 crore for the quarter ended on June 30, 2020. <p> The stock zoomed 17.70 per cent to Rs 264.90 on the BSE. </p><p> On the NSE, it jumped 19.42 per cent to Rs 268.70. </p><p> The company had posted a consolidated profit, attributable to equity holders, of Rs 2,387.6 crore in the same period a year ago. </p><p> Total income of Wipro was almost flat at Rs 15,571.4 crore at the end of the first quarter of 2020-21 compared to Rs 15,566.6 crore in the corresponding quarter of the fiscal year 2019-20. </p><p> The marginal increase in Wipro's performance surprised the market as the country's largest software services firm TCS on Thursday reported a 13.8 per cent decline in June quarter consolidated net profit at Rs 7,008 crore on revenues being impacted by the coronavirus crisis. </p><p> "Margins surprise positively, still appears circumspect of growth recovery unlike TCS. The company avoids providing a formal revenue outlook for the September quarter and unlike TCS, remains circumspect about seeing a recovery in the near term," Emkay Global Services said. </p> According to a report by Motilal Oswal Institutional Equities, while full impact of the COVID-19 pandemic on pricing and working capital cycle is yet to play out, Wipro's outlook on managing margin stability and healthy cash conversions are impressive. SUM ANS ANS

Wipro shares rally over 19 pc after Q1 earnings

<ul><li>Although <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword>’s deal wins and pipeline remained healthy, analysts lowered the target price on the stock due to revenue miss.</li><li>As a result shares of the IT firm slipped 6% and was the worst performer on the benchmark index Nifty 50.</li><li>Also, the attrition rate has gone up to 22% in Q3 with Wipro on a hiring spree.</li></ul>Shares of the Bengaluru-based IT firm Wipro saw huge sell-off today as investors were disappointed with its lower than expected revenue growth.<br /><br />Wipro registered the lowest of all revenue growth of 3% compared to TCS (4.5%) and Infosys (7%) during the October to December period. Analysts had <a href="https://www.businessinsider.in/tech/enterprise/news/infosys-is-expected-to-set-the-bar-slightly-higher-for-tcs-hcl-tech-and-others/articleshow/88703083.cms">expected a revenue growth </a>of 3.9% during the same period.<br /><br />The highest addition of large clients and revenue guidance of 2-4% failed to cheer investor’s mood.<br />              <div type="image" title="wipro share" height="900" width="1200" msid="88870781" hostid="261"></div>Analysts have lowered the share target price and future earnings expectation from Wipro factoring in the revenue miss.<br /><br />Global brokerage firm Citi has reportedly lowered FY22-FY24 earnings by 1% to factor in the weak earnings growth in the December quarter.<br /><br />Another brokerage firm JP Morgan has cut FY23/FY24 earnings per share estimate by 2%.<br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firms<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rating<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹775 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Equal-weight<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Citi<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹820 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JP Morgan<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹680 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UBS Securities<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹660 <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>(Target price inputs from CNBC TV-18)<br /></em><br />The rising attrition rate turned into higher employee cost and narrower margins for the company. Not only Wipro, all other technology firms are struggling with the increasing employee cost for quite some time. <br /><br />But for Wipro, the rate of employees leaving the company has been the highest in the December quarter.<br /><br />Going forward, the IT giant is planning to hire 30,000 freshers in 2023 as the attrition rate increases to 22% from 20.5% in the last quarter.<br /><br />Further, the relentless surge of the Omicron variant of Covid-19 has forced Wipro to close its offices globally for the next four weeks.<br /><br /><strong>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-attrition-at-infosys-is-worse-than-that-at-wipro-ceo-salil-parekh-has-increased-hiring-plan-by-10000/articleshow/88856648.cms">The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000</a><br /><br /><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/tcs-vs-infosys-vs-wipro-how-indias-three-it-giants-stack-up-against-each-other/slidelist/88860676.cms">TCS vs Infosys vs Wipro Q3 results – here’s how India’s three IT giants stack up against each other</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tesla-is-facing-a-lot-of-challenges-in-entering-the-indian-market/articleshow/88868786.cms">Tesla is facing a lot of challenges in entering the Indian market, says Elon Musk</a>

You Searched For "Wipro Q1 earnings" and got 7 results

After last quarter’s massive dip, Wipro adds 7,000 employees with plans to continue hiring in Q2

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Wipro's shares dip by 3.5% after profits slipped 2.1% in Q3

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Wipro CEO says dollar revenue will grow 2-4% in the next three months

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Wipro shares rally over 19 pc after Q1 earnings

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Wipro shares plunge 6% after earnings disappoint street

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