The attrition rate at Wipro fell marginally for the second consecutive quarter to 23 percent for the three-month period ended September 2022, the tech giant announced on Wednesday.
“Voluntary attrition measured in trailing twelve months for the quarter was at 23.0%, a moderation of 30 bps from the previous quarter,” it said in a regulatory filing.
Wipro added that its closing employee count in IT services increased to 2,59,179, which means a net addition of 605 employees from a total headcount of 2,58,574 in the April-June quarter.
Commenting on salary hikes, Wipro’s CEO and Managing Director Thierry Delaporte said, “We continue to invest in and upskill our talent to stay ahead of our clients’ evolving needs. In the second quarter, we promoted more than 10,000 colleagues and increased salaries across bands.”
While the tech sector remains cautious of employee expenses that have led to margin falls in the recent quarter, Wipro’s IT services' operating margin for the second quarter of the fiscal was at 15.1 percent, an increase of 16 basis points (bps) sequentially.
“We achieved margins of 15.1 percent in Q2 after absorbing the impact of salary increases and promotions. 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 percent of our Net Income for the year,” Jatin Dalal, Chief Financial Officer said.
