Wipro: Wipro exceeded expectations! Profits increased by around 15%. – mssewb.org

Wipro: Yet another IT company reported profit for the October-December quarter, beating analysts’ expectations. Now Wipro has announced their profit. They said this on Friday. Incidentally, Infosys and HCL Tech reported their quarterly records on Thursday. After reporting its quarterly results today, Wipro said net profit rose 14.8 percent for the October-December period. The total amount is Rs 3,052.9 crore.

Bengaluru-based Wipro is the fourth largest IT company in the country. Right after TCS, Infosys and HCL Tech. Wipro has grown its quarterly revenue by 3.1 percent over the past 3 months. Its amount stands at Rs 23,229 crore Analysts had expected Wipro to post a net profit of Rs 2,900 crore and total revenue of Rs 23,280 crore. Wipro’s attrition, the rate at which employees leave the company voluntarily, fell by 180 basis points to 21.2 percent over the July-September period.

Incidentally, analysts’ predictions have been correct in the case of Infosys. Because, for the October-December period, Infosys’ net profit grew by 9.4 percent. which was caught. But in the case of HCL it was not right. As, HCL Tech posted a net profit of Rs 4,096 crore, up 17.4 percent, beating analysts’ estimates.

Infosys raised its revenue growth target for the year ending March 2023. While HCL Tech has lowered potential revenue targets. That’s partly because the company’s earnings in the half just ended exceeded all expectations, so targets for the next half have been relaxed. Because, in that case, an additional pressure can be created, the informed circles think. Moreover, HCL Tech has announced a dividend for its investors. The company has announced interim dividend per share.

Analysts’ estimates for Infosys were matched. But HCL Tech’s earnings beat expectations. TCS’ earnings have been mixed. Then today, Wipro’s results beat expectations. The results of IT companies are coming at a time when IT companies are costing more to retain employees. Because, the attrition rate or the rate of employees voluntarily leaving the company has increased. As a result, companies have to burn wood to get skilled workers.

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