Wipro's net profit up 4.6 pc to Rs 3,003 crore, adds 337 employees in Q1 FY25
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IT major Wipro reported a 4.6 per cent rise in net profit at Rs 3,003 crore for the first quarter of the current fiscal (FY25), as revenue dropped 3.8 per cent to Rs 21,964 crore.
The company added 337 employees during the quarter, reversing the trend of declining headcount after six quarters. With this, the company now has 2,34,391 employees. Wipro's attrition rate declined marginally to 14.1 per cent.
"We recorded another quarter of total large deal bookings over $1 billion, with our largest win in recent years," said Srini Pallia, CEO and Managing Director.
“We are pleased with the momentum we have built in Q1 across industries and sectors and confident in our ability to execute better on bookings and profitable growth as we transition to Q2. Our top accounts continued to grow, accompanied by a growth in Americas1 SMU, BFSI and consumer sectors," Pallia added.
The Bengaluru-based company won large deals worth $ 1.2 billion during the quarter, down 3.6 per cent (year-on-year).
"We continued to expand our margins to 16.5 per cent in Q125, this is a 42-bps improvement YoY. Our operating cash flows continue to be strong at 131.6 per cent of our net income which takes our current investment and cash balance to $5.4 billion," said Aparna Iyer, Chief Financial Officer.
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