Wipro, the IT bellwether, posted a 4.6 per cent rise in net profit at Rs 3,003 crore for the first quarter of FY25 over a revenue that was down 3.8 per cent at Rs 21,964 crore. The company proved resilient with an addition of 337 staff during the quarter to reverse the trend of declining headcount over the last six quarters, taking the total staff strength to 2,34,391 employees. Wipro has also announced that the attrition rate has slipped to 14.1 percent.
"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.
"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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