Wipro's Q2 profit slips 9.2% amid high employee costs; revenue up 14.6%

Attrition for the quarter came in at 23 per cent, down from 23.3 per cent in Q1FY23

Wipro CEO and managing director Thierry Delaporte

Wipro CEO and managing director Thierry Delaporte

Shivani Shinde Mumbai
Missing estimates, IT services major Wipro witnessed a 9.2 per cent decline in its net profit for the second quarter of FY23 on a year-on-year basis. The company gave a revenue growth guidance of 0.2-2 per cent for the third quarter, much lower than what the Street expected and also less than the Q1 guidance of 3-5 per cent.

It reported net profit at Rs 2,659 crore in the July-September quarter, against Rs 2,930.7 crore a year ago. Earnings were partly weighed down by rising staff expenses.

The revenue for the quarter came in at Rs 22,539.7 crore, up 14.6 per cent on a YoY basis; sequentially, the figure was up 4.69 per cent. In dollar terms, revenue grew 4.1 per cent

First Published: Oct 12 2022 | 5:58 PM IST

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