IT companies including Wipro and larger rivals Tata Consultancy Services, Infosys and HCL Technologies have been facing cost challenges as they seek to retain employees amid a sector-wide talent churn, which has dented their margins.
Total quarterly expenses jumped 22.9% to 186.48 billion rupees, with voluntary IT services attrition at 23.3%.
Consolidated net profit for the quarter ended June 30 fell 20.9% to 25.64 billion rupees ($320.54 million), compared with 32.43 billion rupees year ago. Analysts on average had expected a profit of 29.5 billion rupees, according to Refinitiv data.
Revenue from operations rose nearly 18% to 215.29 billion rupees.
($1 = 79.9900 Indian rupees)
(Reporting by Nallur Sethuraman and Nandan Mandayam in Bengaluru;Editing by Vinay Dwivedi)
