Wipro's Q3 attrition rate increases to 15.3%, while the company's workforce shrinks by 1,157 to 2,32,732 workers.

On January 17, Wipro released its third-quarter earnings. The headcount decreased to 2.32 lakh people, while the attrition rate for IT majors increased to 15.3%. Before the earnings report, the company's stock ended down.

The voluntary attrition rate for Bangalore-based IT giant Wipro Ltd. increased to 15.3% during the October–December quarter of the fiscal year 2024–2025, according to the company's third-quarter statistics, which were released on Friday. According to the company's BSE filing, the attrition rate for the same period in the prior fiscal year was 14.2%.

Ahead of the earnings release, the company's stock closed down. Wipro's stock ended Friday's trading session 2.15 percent lower at ₹281.85, down from ₹288.05 at the previous market close.

As of January 17, the market capitalization of the IT major was ₹2.95 lakh crore, according to the BSE report.

The business also said that 2,32,732 enrolled employees made up its entire headcount as of the third quarter.

Our excellent in-quarter performance enabled us to surpass the upper end of our sales projection during a historically difficult quarter. In a statement, Wipro Ltd. CEO and managing director Srini Pallia said, "We also achieved our highest margins in the past three years while continuing to invest in our people."

Wipro Q3 Findings
For the October to December quarter of the fiscal year 2024–25, Wipro Ltd.'s consolidated net earnings increased 24.5% year over year (YoY) to ₹3,353.8 crore, up from ₹2,694.2 crore during the same period the previous year.

In comparison to ₹22,205 crore in the same quarter of the previous fiscal year, revenue from operations increased by about 1% to ₹22,319 crore in the third quarter.


Additionally, the business announced an interim dividend of ₹6 for every ₹2 equity share. The record date for Wipro's interim dividend payment to shareholders is January 28, 2025.

"We anticipate that our IT Services business segment will generate between $2,602 million and $2,655 million in sales. In the official release outlining the future revenue projection for the last quarter of the fiscal year 2024–2025, Wipro stated, "This translates to sequential guidance of (-)1.0 percent to 1.0 percent in constant currency terms."