Meghalaya

The fact that Nifty is just 2.5 per cent away from the all-time high indicates the strength and resilience of the market, says V.K. Vijayakumar, the Chief Investment Strategist at Geojit Financial Services.

In a regulatory filing, the company said it had earned total revenue of Rs 228,310 crore (Q1FY23 Rs 215,286 crore) and a net profit of Rs 28,701 crore (Rs 25,636 crore). According to the company, the attrition rate during the quarter under review was at 14 per cent.

However, with net income for the quarter pegged at a,30.7 billion, even as the company's income increased 0.7 per cent QoQ, there was a 0.4 per cent decrease YoY. As per the financial results announced, the company reported a QoQ revenue decrease of 0.2 per cent even as it registered a year on year (YoY) revenue increase of 11.2 per cent.

The company has issued termination letters to all the affected employees and stated that despite adequate training, they have failed to perform. Sources explained the termination letter maintained that the employees were liable to pay Rs 75,000 of the training cost which company has spent on them. But, the amount is being waived off.

The company board at their meeting on Friday declared an interim dividend of Re 1 per equity share. Wipro had earned a revenue of Rs 232.3 billion (Q3FY22 Rs.203 billion) and a net profit of Rs 30.5 billion (Rs 29.6 billion). According to CEO and Managing Director Thierry Delaporte, the margins improved by 120 basis points and the employee attrition moderated for the fourth quarter in a row.

Without elaborating on the numbers, Infosys CEO Salil Parikh said that over the last one year, the company has let go its employees found working with other companies. "Where there are confidentiality issues, we have let them go," Parikh said on Thursday at the press conference announcing the Q2 results.

According to the company, it had earned revenue of Rs 22,539 crore for the quarter under review up from Rs 19,667 crore earned for the period ended September 30, 2021. Wipro had earned a net profit of Rs 2,659 crore for the period ended September 30, 2022, down from Rs 2,930 crore logged for the quarter ended September 30, 2021.

Non-GAAP2 constant currency IT Services segment revenue increased by 4.1 per cent QoQ and 12.9 per cent YoY. Wipro Ltd 's operating cash flows registered an increase of 101 per cent YoY with 180.6 per cent of Net Income for the quarter at Rs 48 billion.