Wipro says it hired 12,000 employees, including 3,000 freshers, in Q2FY211 min read . Updated: 13 Oct 2020, 04:44 PM IST
The company's headcount stands at 185,243 at end of September quarter
New Delhi: IT services major Wipro Ltd on Tuesday said it hired about 12,000 employees during September quarter. Among these hirings there are 3,000 freshers, the Bengaluru-headquartered firm said.
The company's headcount stands at 185,243 at end of September quarter.
“It was another quarter of strong performance on margins and cash flows. We improved on several operating parameters to deliver margin expansion of 0.2% to 19.2% in the IT Services segment. Our Free Cash Flows as a percentage of Net Income for the first half was at 160.7% of Net income. The announcement to buyback equity shares is part of our philosophy to deliver consistent returns to shareholders," said CFO Jatin Dalal.
Wipro on Tuesday posted 3.4 per cent decline in consolidated net profit to ₹2,465.7 crore for the quarter ended September 30, and said its Board has approved up to ₹9,500 crore buyback plan.
The Bengaluru-based company, which had registered a net profit (attributable to equity holders of the company) at ₹2,552.7 crore in the year-ago period, has priced the buyback programme at ₹400 per share.
Wipro's revenue for the September quarter was nearly flat at ₹15,114.5 crore.
In a regulatory filing, Wipro said its Board has approved a buyback proposal, subject to shareholders approval through postal ballot, for purchase of up to 23.75 crore equity shares at ₹400 per share that aggregates up to ₹9,500 crore.
This is 4.16 per cent of the paid-up equity share capital of the company as on September 30, 2020, it added.
At ₹400 apiece, the buyback is 6.4 per cent higher than Tuesday's closing price of ₹375.5 on BSE.
Wipro expects its revenue from IT Services business to be in the range of USD 2,022-2,062 million for the December quarter, translating to a sequential growth of 1.5-3.5 per cent. Its IT services segment revenue in the September quarter was at USD 1,992.4 million - an increase of 3.7 per cent quarter-on-quarter.