With The Results Of September Quarter Wipro Seems To Be Dissatisfied – ZMR Blog
Trending News & Updates

With The Results Of September Quarter Wipro Seems To Be Dissatisfied

With The Results Of September Quarter Wipro Seems To Be Dissatisfied

Wipro’s rise in revenue in the second quarter of the country and the foreclosure of the company for the third quarter disappointed the analysts. However, Wipro has said that it will reach the industry’s average growth by the end of the financial year.

The company has been lagging behind the industry for a long time and analysts say that it is important for the company to reach the level of the growth. Wipro’s revenue rose 0.3% to $ 2.01 Billion in the second quarter that ended in September. The company has given an estimate of growth of 0–2% in the quarter ending in December.

The CEO of the company Abidali Neemuchwala said, “There is a seasonal effect of holidays on the overall viewpoint. We are expecting growth in comparison to the second quarter and we are on the way to reach the industry’s growth rate in the fourth quarter.” He said that Digital Technologies contributed approximately 25% to the revenues of the company. However, analysts are not happy with Wipro’s performance. For the third quarter, he had hoped for the strong growth forecasts from the company. Research Analyst of Sharekhan, Sanjeev Hota said, “Wipro has given poor figures with the expectation of revenue. In the second quarter of the constant currency, the revenue increased only by 0.3%. For the third quarter, the estimate of 0–2% increase in revenues is due to seasonal weakness.

Wipro announces Q1 reults

The rise in Wipro margin is a positive thing, in the second quarter, the company’s margin rose almost from 0.5 % to 17.3%. Wipro Chief Financial Officer, Jatin Dalal said, “Growth is the most important reason for our margins. We also see the possibility of further improvement in our utility. Wipro’s utility in the September quarter was 72.9%, with an increase of 0.90%. However, the number of Wipro employees has decreased by more than 3,000 compared to the first quarter. At the end of June, the number of Wipro’s employees was 1, 66,790, which fell to 1, 63,759 at the end of September.

The company says that the reduction in the number of employees is not very high. Saurabh Govil, Head of the Human Resources of the company, said, “There has been considerable hiring in the second quarter and we have improved the utility.” In the first quarter, TCS, Infosys, and Cognizant reported decrease in the number of employees and the increase in the number of Wipro and HCL Tech employees was recorded.

Leave A Reply

Your email address will not be published.