Wipro Q2 FY2023 Results: Amidst moonlighting controversy, attrition rate fell to 23%; over 10,000 employees promoted

Wipro Q2 Result: Bangalore-based IT major Wipro Limited saw 23 per cent attrition in the quarter that ended on September 30, 2022, on the LTM basis which was slightly lower from the June quarter numbers at 23.3 per cent.  

The company has a total number of 259,179 employees during the reporting quarter recording a slight rise in the total number of employees as compared to the last quarter, it said in its filing to the exchanges. 

“In the second quarter, we promoted more than 10,000 colleagues and increased salaries across bands. We are pleased to report that we recorded a third consecutive quarter of moderation in attrition. As the market conditions evolve, I believe our comprehensive portfolio of differentiated offerings position us extremely well to serve the changing needs of our clients and help them face the challenges of an uncertain macro environment with confidence, ” said Thierry Delaporte, CEO and Managing Director. 

With over 250,000 employees and business partners, Wipro says it has spread its business across 66 countries.

The company has recorded gross revenue of Rs 225.4 billion ($2.8 billion1 ), an increase of 14.6 per cent YoY.

Jatin Dalal, Chief Financial Officer, said, “We achieved margins of 15.1 per cent in Q2 after absorbing the impact of salary increases and promotions.”

Last month, Wipro was in the news for firing 300 employees who were allegedly involved in moonlighting against its policy. According to Wipro, the employees were working for the competitors while being on the payroll of the company.