We sustained our operating margins in Q2 in a narrow band even after absorbing the full impact of our recent acquisitions, said Wipro CFO.
Listen to this article
IT major Wipro on Wednesday informed that it has completed a salary hike covering 80% of its employees, making it the second this calendar year.
“We sustained our operating margins in Q2 in a narrow band even after absorbing the full impact of our recent acquisitions and investing significantly in our business across sales, capabilities and talent. We completed a salary increase covering 80% of our colleagues, making it the second hike in this calendar year," Jatin Dalal, Chief Financial Officer of the company said.
Wipro has earlier announced second salary hikes with effect from September 1, 2021 for all eligible employees up to Band B3 (Assistant Manager and below).
On average, the company is said to have given increments in the high single digits for offshore employees, while in the mid-single digits for onsite employees. The company had earlier said it will reward top performers with substantially higher increases.
In January 2021, the company had already completed salary hikes for eligible employees in the same bands, who form 80% of the company's workforce.
Wipro today reported consolidated net profit of ₹2,931 crore for the quarter ended September, 2021 (Q2FY22). This is a rise of 19% from ₹2,466 crore posted in the same period last year (Q2FY21).
Wipro said that it expects revenue from IT services business to be in the range of $2,631 million to $2,683 million. This translates to a sequential growth of 2.0% to 4.0%