Wipro March quarter results expected today
Information technology services major Wipro is expected to post good revenue numbers for the March quarter of the 2021-22 financial year and is also expected to pick up hiring, according to industry watchers. The company is about to announce its quarterly results today.
According to analysts, the company is expected to post double-digit revenue growth during the January-March 2022 quarter, mainly due to increased spending on digital and cloud transformation.
At 1.38 pm, Wipro’s shares were trading at Rs 513.75 per share, down 1.68 per cent on the NSE.
Analysts further said that though profits are likely to remain flat, Wipro’s Q4 net profit is expected to be slightly higher than its Q3 profit.
In the October-December 2021 quarter, the IT major had reported a consolidated net profit of Rs 2,969 crore and said the demand environment was strong.
The company’s headcount for IT services during the December 2021 quarter stood at 2,31,671, an increase of 41,363 employees year-on-year, said the analysts’ report.
Wipro added 10,306 employees during the December quarter and plans to take this number to 30,000 freshers in 2022-23.