Poging GOUD - Vrij
Wipro profit, revenue drop; headcount falls
The Morning Standard
|October 19, 2023
Attrition rate on a last-twelve-month basis stood at 15.5%, company plans to pay 80% variable pay to employees
THE fourth-largest IT services company Wipro on Wednesday reported a marginal drop in both its second quarter net profit and revenue amid economic weakness and lower discretionary spends by clients.
It missed Street estimates and reported 0.47% year-onyear decrease in net profit at ₹2,646.3 crore compared to ₹2,659 crore in the same quarter last year. Sequentially, its net profit was down by 7.8%.
The company's second quarter revenues too decreased as the company reported ₹22,516 crore revenue from operations, a decrease of 0.1% from ₹22,539.7 crore it reported a year-ago. Operating margin for the quarter stood at 16.1%.
Dit verhaal komt uit de October 19, 2023-editie van The Morning Standard.
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