Wipro, a leading technology services and consulting company, announced Q3 financial results under International Financial Reporting Standards (IFRS) for the quarter ended December 31, 2023.
Wipro has seen a reduction of 4,470 employees in its headcount for the third quarter of the fiscal year 2024. As of the quarter ending on 31 December 2023, the company’s headcount stood at 2,40,234, down from 2,44,707 in the previous quarter (Q2 FY24).
The attrition rate, which stood at 15.5 percent in the previous quarter, stabilized further and reached a 10-quarter low. The Voluntary attrition has continued to moderate QoQ, coming in at a 10-quarter low of 12.3% in Q3’24.
“Our investments in people, processes, and business operations are continuing to pay off,” said Thierry Delaporte, CEO and Managing Director.
“In a seasonally soft quarter, deal booking momentum remained strong. Our large deals recorded a 20 percent year-to-date growth. Further, we are starting to see early signs of a return to growth in Consulting, as demonstrated by the double-digit growth in order bookings in our Capco business”, Thierry Delaporte added.
Thierry Delaporte further said, “Under our ai360 strategy, AI is now embedded across most of our existing solutions and client offerings. We are confident that these investments will allow us to capitalize on emerging opportunities, as the macro environment improves.”
Aparna C. Iyer, Chief Financial Officer, said, “I am pleased with our rigor of execution across all financial metrics- revenue, margin, EPS, and cash flow.”
“We are building a more resilient, agile, and efficient organization which has helped us sustain our margins at 16%, a 63 basis point improvement on a year-to-date basis despite revenue headwinds and absorbing the impact of the investments we are making for growth and people”, Aparna C. Iyer added.
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