Buzzing stock: Wipro soars more than 3% today

Wipro is planning to hire more than 500 new professionals in Brazil over the next fiscal year.

Wipro Limited is one of the gainers of BSE. The share price of the company has jumped 3.86% in the early trading session today. The company has given 32.09% returns to its investors in the last one year.

Snapshot of Q3FY22 numbers

In Q3FY22, revenue grew by 29.63% YoY to Rs 20313.6 crore from Rs 15670 crore in Q3FY21. On a sequential basis, the top-line was up by 3.29%. PBIDT (Ex OI) was reported at Rs 4180.7 crore, up by 1.54% as compared to the year-ago period and the corresponding margin was reported at 20.58%, contracting by 570 basis points YoY. PAT was reported at Rs 2964.7 crore, down by 0.77% from Rs 2987.7 crore in the same quarter for the previous fiscal year. The PAT margin stood at 14.59% in Q3FY22 contracting from 19.07% in Q3FY21.

Expansionary plan for FY23

Wipro is planning to hire more than 500 new professionals in Brazil over the next fiscal year (FY23) to support its growth in delivering cloud solutions to clients. The company will be hiring throughout Brazil, especially in the Northeast region-mainly the capitals Recife, Fortaleza as well as in Natal - Curitiba, Brasília, and cities in the countryside of Sao Paulo and Rio de Janeiro states, among other locations, for a range of roles from IT and engineering to consulting business development and operations.

Wipro’s hiring goals are reflective of the company's strong growth in the Brazilian market driven by the human cloud concept, which helps organizations attract new talent and foster growth in a hybrid work environment.

About Company

Wipro Limited is a global information technology, consulting, and business process services company headquartered in Bangalore, Karnataka. It harnesses the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help its clients adapt to the digital world.

In the early trade session on Friday, the stock of Wipro Ltd was trading at Rs 555.4 up by 3.46% or Rs 18.55 per share. The 52-week high of the scrip is recorded at Rs 739.8 and the 52-week low at Rs 398 on the BSE.