UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of September 2024

Commission File Number 001-16139

 

 

Wipro Limited

(Exact name of Registrant as specified in its charter)

 

 

Not Applicable

(Translation of Registrant’s name into English)

Karnataka, India

(Jurisdiction of incorporation or organization)

Doddakannelli

Sarjapur Road

Bangalore, Karnataka 560035, India +91-80-2844-0011

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:

Form 20-F ☒    Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes ☐ No ☒

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes ☐ No ☒

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

 

 

 


DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION

Wipro Limited, a company organized under the laws of the Republic of India (the “Company”), hereby furnishes the Commission with the following information concerning its public disclosures regarding its results of operations for the quarter ended September 30, 2024. The following information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

On October 17, 2024, the Company announced its results of operations for the quarter ended September 30, 2024. The Company issued a press release announcing its results under International Financial Reporting Standards (“IFRS”), a copy of which is attached to this Form 6-K as Item 99.1.

The Company placed advertisements in certain Indian newspapers concerning its results of operations for the quarter ended September 30, 2024, under IFRS. A copy of the form of this advertisement is attached to this Form 6-K as Item 99.2.

The Company made available on its website the Condensed Consolidated Interim Financial Statements for the quarter ended September 30, 2024, under IFRS. A copy of such financial statements is attached to this Form 6-K as Item 99.3.

The Company filed with stock exchanges in India a statement of statutorily audited consolidated financial results for the quarter ended September 30, 2024, under IFRS. A copy of such financial statements is attached to this Form 6-K as Item 99.4.

The Company filed with stock exchanges in India a datasheet containing operating metrics for the quarter ended September 30, 2024. A copy of such data sheet is attached to this Form 6-K as Item 99.5.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly organized.

 

WIPRO LIMITED
By:  

/s/ Aparna Chandrashekar Iyer

Aparna Chandrashekar Iyer
Chief Financial Officer
Dated: October 22, 2024


INDEX TO EXHIBITS

 

Item

    
99.1    IFRS Press Release
99.2    Form of Advertisement Placed in Indian Newspapers
99.3    Consolidated Interim Financial Statements under IFRS
99.4    Statutorily Audited Consolidated Financial Results filed with stock exchanges in India
99.5    Data sheet containing operating metrics filed with stock exchanges in India

Exhibit 99.1

FOR IMMEDIATE RELEASE

 

LOGO

Wipro announces results for the quarter ended September 30, 2024

Net income grew 6.8% QoQ and 21.3% YoY.

IT Services revenue grew 1.3% QoQ. Margin expands 35 basis points QoQ.

Large Deal Bookings at $1.5 billion, highest in 10 quarters.

Operating cash flows at 132.3% of net income.

EAST BRUNSWICK, N.J. | BANGALORE, India – October 17, 2024: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended September 30, 2024.

Highlights of the Results

Results for the Quarter ended September 30, 2024:

 

1.

Gross revenue was at 223.0 billion ($2,662.6 million1), an increase of 1.5% QoQ and decrease of 1.0% YoY.

 

2.

IT services segment revenue was at $2,660.1 million, an increase of 1.3% QoQ and decrease of 2.0% YoY.

 

3.

Non-GAAP2 constant currency IT Services segment revenue increased 0.6% QoQ and decreased 2.3% YoY.

 

4.

Total bookings3 was at $3,561 million. Large deal bookings4 was at $1,489 million, an increase of 28.8% QoQ and 16.8% YoY in constant currency2.

 

5.

IT services operating margin5 for the quarter was at 16.8%, an increase of 0.3% QoQ and 0.7% YoY.

 

6.

Net income for the quarter was at 32.1 billion ($383.1 million1), an increase of 6.8% QoQ and 21.3% YoY.

 

7.

Earnings per share for the quarter was at 6.14 ($0.071), an increase of 6.8% QoQ and 21.3% YoY.

 

8.

Operating cash flows of 42.7 billion ($509.7 million1), an increase of 10.5% YoY and at 132.3% of Net Income for the quarter.

 

9.

Voluntary attrition6 was at 14.5% on a trailing 12-month basis.

 

10.

Wipro’s Board of Directors recommended issue of bonus shares to shareholders (including stock dividend to ADS holders) in the ratio of 1:1 (1 equity share for every 1 equity share held), subject to approval of shareholders.

 

1


Outlook for the Quarter ending December 31, 2024

We expect revenue from our IT Services business segment to be in the range of $2,607 million to $2,660 million*. This translates to sequential guidance of (-) 2.0% to 0.0% in constant currency terms.

 

*

Outlook for the Quarter ending December 31, 2024, is based on the following exchange rates: GBP/USD at 1.32, Euro/USD at 1.10, AUD/USD at 0.68, USD/INR at 83.65 and CAD/USD at 0.74

Performance for the Quarter ended September 30, 2024

Srini Pallia, CEO and Managing Director, said Based on strong execution in Q2, we met our expectations for revenue growth, bookings, and margins. We continued to expand our top accounts, large deal bookings surpassed $1 Bn once again, and Capco maintained its momentum for another consecutive quarter. We grew in three out of four markets, as well as, in BFSI, Consumer and Technology and Communications sectors. We will continue to invest in our clients, our strategic priorities, and building a strong AI powered Wipro”

Aparna Iyer, Chief Financial Officer, said “I am pleased with our performance across all parameters including Revenue, Bookings, Operating margin, cash flow and EPS. On the back of operational improvements, we further expanded our margins by 35 basis points and our EPS grew 6.8% QoQ. Our operating cash flow continues to be robust at 132.3% of net income in Q2. As a result, cumulatively in the first half of this year we generated nearly $1B in operating cash flow.”

 

1.

For the convenience of the readers, the amounts in Indian Rupees in this release have been translated into United States Dollars at the certified foreign exchange rate of US$1 = 83.76, as published by the Federal Reserve Board of Governors on September 30, 2024. However, the realized exchange rate in our IT Services business segment for the quarter ended September 30, 2024, was US$1= 83.44

 

2.

Constant currency for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period.

 

3.

Total Bookings refers to the total contract value of all orders that were booked during the period including new orders, renewals, and increases to existing contracts. Bookings do not reflect subsequent terminations or reductions related to bookings originally recorded in prior fiscal periods. Bookings are recorded using then—existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations. The revenues from these contracts accrue over the tenure of the contract. For constant currency growth rates, refer to note 2.

 

4.

Large deal bookings consist of deals greater than or equal to $30 million in total contract value.

 

5.

IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials.

 

6.

Voluntary attrition is in IT Services computed on a quarterly annualised basis and excludes DOP.

 

2


Highlights of Strategic Deal Wins

In the second quarter, Wipro continued to win large and strategic deals across industries. Key highlights include:

 

  1.

A US-based health insurance provider has selected Wipro to streamline its operations. By consolidating the client vendor landscape, Wipro will mitigate the risks associated with relying on multiple providers. The Wipro team will leverage its varied expertise to drive efficiency and innovation, optimize costs, as well as provide the tools and expertise to ensure the accuracy, integrity and security of the customer’s data. This project will ensure better care coordination and health outcomes.

 

  2.

A global apparel leader has selected Wipro to enhance its direct-to-consumer strategy and digital footprint. Wipro will transform the client’s IT operations and improve overall product development. Wipro will also deploy artificial intelligence in key areas. The project will drive innovation, optimize operations and create a seamless customer experience across both physical and online platforms.

 

  3.

A US-based health insurance company has selected Wipro to improve its operations. The Wipro team will consolidate the client’s vendor landscape and provide services with innovative solutions & accelerators to improve overall operational efficiency. This work will enhance customer and employee experience as well as ensure smooth service delivery. Wipro’s deep domain knowledge and consultative and innovative approach, as well as its track record of flawless delivery were key factors contributing to this win.

 

  4.

A US-based wholesale food distributor has selected Wipro to reimagine its business operations. Leveraging AI and process transformation tools, Wipro will create a centralized system across key support functions including Human Resources, Financial Planning & Analysis and Data Management. This will help the client enhance efficiency, standardize processes, and achieve cost-effectiveness across its organization.

 

  5.

A US-based Free Space Optics Communications pioneer has selected Wipro to engineer their next-generation product & provide global operations and manufacturing support. Wipro will deliver integrated services across hardware, manufacturing, and operational support. Wipro will provide engineering support by leveraging its experience in AI-based silicon and Smart Network Applications, coupled with Field Operations capabilities. This strategic program will deliver enhanced customer experience with high economic value and support the client in rapid product evolution across global markets.

 

  6.

Wipro was selected by an American health insurance provider for a workforce management and business process transformation project. The project incorporates AI capabilities to improve efficiency and reduce operation turn-around time by 20%. Wipro will also upskill and equip associates with advanced AI and data analytics skills, providing value-added services to business stakeholders and end-users.

 

  7.

A US-based independent health solutions and pharmacy benefit company has selected Wipro to implement the “Payer-in-a-box” Medicare Prescription Payment Plan (MPPP360) platform in compliance with the Centre for Medicare & Medicaid Services’ (CMS) guidance. Wipro will help streamline the client’s member opt in/opt out and billing and delinquency processes, seamlessly integrate the new CMS provisions, and simplify prescription cost management for enrolled beneficiaries.

 

3


  8.

A European automotive manufacturer has selected Wipro to modernize its IT infrastructure. Wipro will centralize the client’s operations to provide a more stable ecosystem. The team will also develop innovative employee experience solutions, as well as vulnerability management and application maintenance services. This project will improve the client’s time-to-market, significantly reduce their technical debt, and future- proof their business.

 

  9.

A UK-based wealth management firm has selected Wipro to provide end-to-end administration service. The team will transform and modernize the client’s technology infrastructure as well as manage their entire middle and back-office functions. This transformation will enable the client to be more agile, drive growth and continue to provide market-leading proposition to its customers.

 

  10.

Following its acquisition by a private equity firm, a France-based leader in digital & consulting services has selected Wipro to re-imagine the Finance & Procurement Services into a digital, agile and cost-efficient organization. The Wipro team will deploy tailored solutions to streamline and automate the client’s Order to Cash, General Accounting, Controlling, Source to Pay and end-to-end Procurement processes. A new dedicated business process outsourcing center will also be created in Spain. This project will deliver a cost reduction of up to 30% and establish an innovation fund, to future- proof the client’s business.

 

  11.

A global financial technology company has selected Wipro to support their growth. The Wipro team will provide talent and technology to enhance the client’s transaction monitoring and customer lifecycle management processes. Wipro will also implement best-in-class AI and automation solutions to optimize operations and increase overall efficiency. This project will enable the client to scale their business while ensuring regulatory compliance.

 

  12.

A global food and drink processing conglomerate has selected Wipro to enhance their delivery quality, governance, and employee experience. Wipro will implement automation technology to reduce manual intervention and monitoring in order to improve service delivery quality. Wipro will also leverage its AI and Gen AI capabilities to support the implementation of AI productivity platforms and an employee Centre of Excellence. From this engagement, the customer will see improved customer satisfaction and increased overall quality of delivery.

 

  13.

A leading Indian private bank has extended its engagement with Wipro to enhance its technology infrastructure and deliver support services for critical ‘Run the Bank’ applications. Aimed at creating a resilient, high-performing, and scalable technology environment, the Wipro team will strengthen end-user services and technology infrastructure, focusing on Cloud, Data and Analytics, and Security. This project will boost operational efficiency and support the bank’s growth ambitions across various functions including Retail, Corporate Banking, Credit, Treasury, and Loans.

 

  14.

A Middle East based manufacturing company has selected Wipro to transform its business forecasting and operational efficiency by integrating Wipro’s Smart Forecast and Working Capital Insights initiatives in their day-to-day functions. Wipro will deploy AI and big data analytics to improve decision-making, revenue optimization, forecasting accuracy, and overall transparency across functions. The combination of Wipro’s initiatives will enhance the client’s predictive abilities, analytics, decision-making, risk mitigation, and capability to realize opportunities.

 

4


  15.

An American financial services company has selected Wipro to provide in-depth customer analytics and insights. Wipro will implement AI and GenAI-based solutions to provide a unified and comprehensive 360-degree view of client activity to better serve their needs. These insights will also be the basis of recommendations for discount pricing, deposit levels, and trading volumes. Subsequent phases of this project will expand to a strategic AI-powered data lake that encompasses more of the client’s services.

 

5


Analyst Recognition

 

  1.

Wipro was positioned as a Leader in the 2024 Gartner® Magic Quadrant for Public Cloud IT Transformation Services

 

  2.

Wipro was featured as a Leader in Avasant’s Advanced Network Services 2024 RadarView

 

  3.

Wipro was designated as a Leader in Everest Group’s Open Banking IT Services PEAK Matrix® Assessment 2024

 

  4.

Wipro was recognized as a Leader in Everest Group’s Salesforce Services PEAK Matrix® Assessment 2024

 

  5.

Wipro was rated as a Leader in Everest Group’s Digital Workplace Services PEAK Matrix® Assessment 2024 – North America & Europe

 

  6.

Wipro was recognized as a Leader in Everest Group’s Healthcare Payer Business Process as a Service (BPaaS) – Solutions PEAK Matrix® Assessment 2024

 

  7.

Wipro was recognized as a Leader in ISG Provider Lens—Google Cloud Partner Ecosystem 2024 (all quadrants)

 

  8.

Wipro was rated as a Leader in ISG Provider Lens—Network—Software Defined Solutions and Services 2024 (all quadrants)

 

  9.

Wipro was positioned as a Leader in ISG Provider Lens—Cybersecurity – Solutions and Services 2024 (multiple quadrants)

 

  10.

Wipro was recognized as a Leader in IDC MarketScape: Worldwide Professional Services Providers for Retailers 2024 Vendor Assessment (Doc # US51168224 Sep 2024)

 

  11.

Wipro was positioned as a Leader in Everest Group’s Lending Services Operations PEAK Matrix® Assessment 2024

Source & Disclaimer: *Gartner, “Magic Quadrant for Public Cloud IT Transformation Services”, Mark Ray, et al, 5 August 2024.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and are used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner’s research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

The Gartner content described herein (the “Gartner Content”) represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. (“Gartner”), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this press release, and the opinions expressed in the Gartner Content are subject to change without notice.

IT Products

 

  1.

IT Products segment revenue for the quarter was 0.7 billion ($7.9 million1)

 

  2.

IT Products segment results for the quarter were (-) 0.2 billion ((-) $2.2 million1)

Please refer to the table on page 13 for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis.

 

6


About Key Metrics and Non-GAAP Financial Measures

This press release contains key metrics and non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical or future performance, financial position or cash flows that are adjusted to exclude or include amounts that are excluded or included, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS.

The table on page 13 provides IT Services Revenue on a constant currency basis, which is a non-GAAP financial measure that is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior reporting period. We refer to growth rates in constant currency so that business results may be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Further, in the normal course of business, we may divest a portion of our business which may not be strategic. We refer to the growth rates in both reported and constant currency adjusting for such divestments in order to represent the comparable growth rates.

Our key metrics and non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, the most directly comparable financial measure calculated in accordance with IFRS and may be different from non-GAAP measures used by other companies. Our key metrics and non-GAAP financial measures are not comparable to, nor should be substituted for, an analysis of our revenue over time and involve estimates and judgments. In addition to our non-GAAP measures, the financial statements prepared in accordance with IFRS and the reconciliation of these non-GAAP financial measures with the most directly comparable IFRS financial measure should be carefully evaluated. 

Results for the Quarter ended September 30, 2024, prepared under IFRS, along with individual business segment reports, are available in the Investors section of our website www.wipro.com/investors/

Quarterly Conference Call

We will hold an earnings conference call today at 07:00 p.m. Indian Standard Time (9:30 a.m. U.S. Eastern Time) to discuss our performance for the quarter. The audio from the conference call will be available online through a webcast and can be accessed at the following link-https://links.ccwebcast.com/?EventId=WIP171024

An audio recording of the management discussions and the question-and-answer session will be available online and will be accessible in the Investor Relations section of our website at www.wipro.com

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com

 

7


Contact for Investor Relations    Contact for Media & Press
Dipak Kumar Bohra    Abhishek Jain    Dinesh Joshi
Phone: +91-80-6142 7201    Phone: +91-80-6142 6143    Phone: +91 92052-64001
dipak.bohra@wipro.com    abhishek.jain2@wipro.com    media-relations@wipro.com

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, the benefits its customers experience and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

# # #

(Tables to follow)

 

8


WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

( in millions, except share and per share data, unless otherwise stated)

 

     As at March 31, 2024      As at September 30, 2024  
                   Convenience translation into
US dollar in millions
(unaudited)
 

ASSETS

        

Goodwill

     316,002        319,207        3,811  

Intangible assets

     32,748        28,195        336  

Property, plant and equipment

     81,608        78,822        941  

Right-of-Use assets

     17,955        21,854        261  

Financial assets

        

Derivative assets

     25        —         —   

Investments

     21,629        31,385        375  

Trade receivables

     4,045        587        7  

Other financial assets

     5,550        5,148        61  

Investments accounted for using the equity method

     1,044        1,008        12  

Deferred tax assets

     1,817        1,922        23  

Non-current tax assets

     9,043        7,782        93  

Other non-current assets

     10,331        7,744        92  
  

 

 

    

 

 

    

 

 

 

Total non-current assets

     501,797        503,654        6,012  
  

 

 

    

 

 

    

 

 

 

Inventories

     907        1,052        13  

Financial assets

        

Derivative assets

     1,333        651        8  

Investments

     311,171        407,309        4,863  

Cash and cash equivalents

     96,953        104,592        1,249  

Trade receivables

     115,477        112,655        1,345  

Unbilled receivables

     58,345        64,776        773  

Other financial assets

     10,536        8,973        107  

Contract assets

     19,854        17,788        212  

Current tax assets

     6,484        6,086        73  

Other current assets

     29,602        32,561        389  
  

 

 

    

 

 

    

 

 

 

Total current assets

     650,662        756,443        9,032  
  

 

 

    

 

 

    

 

 

 

TOTAL ASSETS

     1,152,459        1,260,097        15,044  
  

 

 

    

 

 

    

 

 

 

EQUITY

        

Share capital

     10,450        10,463        125  

Share premium

     3,291        6,000        72  

Retained earnings

     630,936        693,688        8,282  

Share-based payment reserve

     6,384        6,315        75  

Special Economic Zone re-investment reserve

     42,129        41,497        495  

Other components of equity

     56,693        60,380        721  
  

 

 

    

 

 

    

 

 

 

Equity attributable to the equity holders of the Company

     749,883        818,343        9,770  

Non-controlling interests

     1,340        1,798        21  
  

 

 

    

 

 

    

 

 

 

TOTAL EQUITY

     751,223        820,141        9,791  
  

 

 

    

 

 

    

 

 

 

LIABILITIES

        

Financial liabilities

        

Loans and borrowings

     62,300        62,653        748  

Lease liabilities

     13,962        18,965        226  

Derivative liabilities

     4        1        ^  

Other financial liabilities

     4,985        5,862        70  

Deferred tax liabilities

     17,467        16,625        198  

Non-current tax liabilities

     37,090        40,122        479  

Other non-current liabilities

     12,970        14,823        177  
  

 

 

    

 

 

    

 

 

 

Total non-current liabilities

     148,778        159,051        1,898  
  

 

 

    

 

 

    

 

 

 

Financial liabilities

        

Loans, borrowings and bank overdrafts

     79,166        103,157        1,232  

Lease liabilities

     9,221        8,047        96  

Derivative liabilities

     558        1,064        13  

Trade payables and accrued expenses

     88,566        82,810        989  

Other financial liabilities

     2,272        2,976        36  

Contract liabilities

     17,653        18,439        220  

Current tax liabilities

     21,756        30,599        365  

Other current liabilities

     31,295        32,004        382  

Provisions

     1,971        1,809        22  
  

 

 

    

 

 

    

 

 

 

Total current liabilities

     252,458        280,905        3,355  
  

 

 

    

 

 

    

 

 

 

TOTAL LIABILITIES

     401,236        439,956        5,253  
  

 

 

    

 

 

    

 

 

 

TOTAL EQUITY AND LIABILITIES

     1,152,459        1,260,097        15,044  
  

 

 

    

 

 

    

 

 

 

        
  

 

 

    

 

 

    

 

 

 

^ Value is less than 0.5

        

 

9


WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME

( in millions, except share and per share data, unless otherwise stated)

 

     Three months ended September 30,     Six months ended September 30,  
     2023     2024     2024     2023     2024     2024  
    

 

   

 

    Convenience
translation into
US dollar in
millions
(unaudited)
   

 

   

 

    Convenience
translation into
US dollar in
millions
(unaudited))
 

Revenues

     225,159       223,016       2,663       453,469       442,654       5,285  

Cost of revenues

     (159,191     (155,049     (1,851     (320,452     (308,355     (3,681
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     65,968       67,967       812       133,017       134,299       1,604  

Selling and marketing expenses

     (18,767     (17,388     (207     (35,351     (33,232     (397

General and administrative expenses

     (14,124     (13,034     (156     (30,011     (27,247     (325

Foreign exchange gains/(losses), net

     268       (396     (5     206       (602     (7
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Results from operating activities

     33,345       37,149       444       67,861       73,218       875  

Finance expenses

     (3,033     (3,569     (43     (6,119     (6,857     (82

Finance and other income

     4,810       9,195       110       11,352       16,675       199  

Share of net profit/ (loss) of associate and joint venture accounted for using the equity method

     (30     3       ^       (27     (42     (1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit before tax

     35,092       42,778       511       73,067       82,994       991  

Income tax expense

     (8,419     (10,512     (126     (17,534     (20,362     (243
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit for the period

     26,673       32,266       385       55,533       62,632       748  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit attributable to:

            

Equity holders of the Company

     26,463       32,088       383       55,164       62,120       742  

Non-controlling interests

     210       178       2       369       512       6  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit for the period

     26,673       32,266       385       55,533       62,632       748  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings per equity share:

            

Attributable to equity holders of the Company

            

Basic

     5.06       6.14       0.07       10.30       11.89       0.14  

Diluted

     5.04       6.12       0.07       10.27       11.85       0.14  

Weighted average number of equity shares used in computing earnings per equity share

            

Basic

     5,232,867,366       5,226,755,635       5,226,755,635       5,357,394,940       5,226,444,619       5,226,444,619  

Diluted

     5,245,641,198       5,241,078,937       5,241,078,937       5,370,078,563       5,239,886,408       5,239,886,408  

^ Value is less than 0.5

            

 

10


Information on reportable segments for the three months ended September 30, 2024, June 30, 2024, September 30, 2023, six months ended September 30, 2024, September 30, 2023, and year ended March 31, 2024 are as follows:

 

     Three months ended     Six months ended     Year
ended
 
Particulars    September
30, 2024
    June 30,
2024
    September
30, 2023
    September
30, 2024
    September
30, 2023
    March
31, 2024
 
     Audited     Audited     Audited     Audited     Audited     Audited  

Segment revenue

            

IT Services

            

Americas 1

     68,393       67,700       66,813       136,093       132,420       268,230  

Americas 2

     67,932       67,338       66,914       135,270       135,217       269,482  

Europe

     61,821       60,422       63,976       122,243       131,110       253,927  

APMEA

     23,811       23,503       26,255       47,314       52,765       102,177  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total of IT Services

     221,957       218,963       223,958       440,920       451,512       893,816  

IT Products

     663       469       1,469       1,132       2,163       4,127  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total segment revenue

     222,620       219,432       225,427       442,052       453,675       897,943  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Segment result

            

IT Services

            

Americas 1

     13,338       13,687       15,287       27,025       28,824       59,364  

Americas 2

     15,005       15,533       14,023       30,538       28,192       59,163  

Europe

     7,821       5,873       7,547       13,694       17,515       33,354  

APMEA

     3,070       2,441       2,985       5,511       5,785       12,619  

Unallocated

     (1,912     (1,477     (3,784     (3,389     (7,741     (20,304
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total of IT Services

     37,322       36,057       36,058       73,379       72,575       144,196  

IT Products

     (183     (47     (467     (230     (628     (371

Reconciling Items

     10       59       (2,246     69       (4,086     (7,726
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total segment result

     37,149       36,069       33,345       73,218       67,861       136,099  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Finance expenses

     (3,569     (3,288     (3,033     (6,857     (6,119     (12,552

Finance and other income

     9,195       7,480       4,810       16,675       11,352       23,896  

Share of net profit/ (loss) of associate and joint venture accounted for using the equity method

     3       (45     (30     (42     (27     (233
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit before tax

     42,778       40,216       35,092       82,994       73,067       147,210  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Additional Information:

The Company is organized into the following operating segments: IT Services and IT Products.

IT Services: The IT Services segment primarily consists of IT services offerings to customers organized by four Strategic Market Units (“SMUs”) - Americas 1, Americas 2, Europe and Asia Pacific Middle East and Africa (“APMEA”). Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries.

Americas 1 includes the entire business of Latin America (“LATAM”) and the following industry sectors in the United States of America: Communications, media and information services, Software and gaming, New age technology, Consumer goods, medical devices and life sciences, Healthcare, and Technology products and services. Americas 2 includes the entire business in Canada and the following industry sectors in the United States of America: Banking and financial services, Energy, Manufacturing and resources, Capital markets and insurance, and Hi-tech.

Europe consists of the United Kingdom and Ireland, Switzerland, Germany, Northern Europe and Southern Europe.

 

11


APMEA consists of Australia and New Zealand, India, Middle East, South-East Asia, Japan and Africa.

Revenue from each customer is attributed to the respective SMUs based on the location of the customer’s primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer’s buying centers, but the total revenue related to these strategic global customers are attributed to a single SMU based on the geographical location of key decision makers.

IT Products: The Company is a value-added reseller of security, packaged and SaaS software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to these items is reported as revenue from the sale of IT Products.

 

12


Reconciliation of selected GAAP measures to Non-GAAP measures

 

  1.

Reconciliation of Non-GAAP Constant Currency IT Services Revenue to IT Services Revenue as per IFRS ($Mn)

 

Three Months ended September 30, 2024   

IT Services Revenue as per IFRS

   $ 2,660.1  

Effect of Foreign currency exchange movement

   ($ 18.0
  

 

 

 

Non-GAAP Constant Currency IT Services Revenue based on previous quarter exchange rates

   $ 2,642.0  

 

Three Months ended September 30, 2024   

IT Services Revenue as per IFRS

   $ 2,660.1  

Effect of Foreign currency exchange movement

   ($ 10.1
  

 

 

 

Non-GAAP Constant Currency IT Services Revenue based on exchange rates of comparable period in previous year

   $ 2,650.0  

 

  2.

Reconciliation of Free Cash Flow for three months and six months ended September 30, 2024

 

     Amount in
INR Mn
    Amount in
INR Mn
 
     Three    

 

 
     months
ended
    Six months
ended
 
     30-Sep-24     30-Sep-24  

Net Income for the period [A]

     32,266       62,632  

Computation of Free Cash Flow

    

Net cash generated from operating activities [B]

     42,690       82,649  

Add/ (deduct) cash inflow/ (outflow)on:

    

Purchase of property, plant and equipment

     (2,398     (5,017

Proceeds from sale of property, plant and equipment

     1,423       1,459  

Free Cash Flow [C]

     41,715       79,091  

Operating Cash Flow as percentage of Net Income [B/A]

     132.3     132.0

Free Cash Flow as percentage of Net Income [C/A]

     129.3     126.3

 

 

 

13

Exhibit 99.2

 

LOGO

FRIDAY, OCTOBER 18, 2024 WWW.FINANCIALEXPRESS.COM KERALA WATER AUTHORITY ffl^nHI^ Tender No : Re 61,62,63/2024-25/SE/PHC/MVPA JJM-PHASE II-RWSS TO PAIPRA-PROVIDING FULL COVERAGE IN PAIPRA PANCHAYATH-PACKAGE -2(61) LAYING CLEAR WATER PUMPING MAIN (62) CONSTRUCTION OF 11 LAKHS LITRE CAPACITY O.H. TANK AT THAT TUPARAMBU—Pipeline Work, Pampakuda GP-(63) Providing dedicated feeder line from Methipara to existing Pampakuda line part 2-Pipeline Work. EMD : Rs. Rs.1,00,000 to 2,00,000/- Tender fee : Rs. 8270 to 11025/- Last Date for submitting Tender : 01-11-2024 04:00:pm Phone : 0485 2835687 Website : www.kwa.kerala.gov.inwww.etenders.kerala.gov.in Superintending Engineer KWA-JB-GL-6-723-2024-25 PH Circle Muvattupuzha NMDC Steel Limited C/o NMDC Iron & Steel Plant Fest-Nagarnur (Bastar) Chat tisgarh-494001 CUV ; 027110012015601001618 FORM G INVITATION FOR EXPRESSION OF INTEREST GVK Power & Infrastructure Ltd Holding Investments and Assets at Hyderabad (Under sub-regulation (1)of regulation 36A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016) CONTRACTS DEPARTMENT NMDC STEEL LIMITED, A Public Sector Company under Ministry of Steel Govt. of India, Invites Offline bids From experienced domestic bidders for the followings tender enquiry with start and end date as below For MTPA Integrated Steel Plant at Nltjmrna*, ^Fiir J Jaipur, (hhiflr rarlk’.l*1i Name of the work: BF Ge; Flare Stack Control Valve By-pm Arrange merit In Blast Furnace Complex In 3 MT PA integrated Steel Plan! at Nagarnar Turnkey belli. Tender no & Date NSl{CONTRACTS^39/BF/CV By pass rrangement/ 202 4/98 2 Dtd: 18.10 2024 last dale of submission: 01. It 2024. The de la । led hl and Bid deep merit s can be vic wed and/or dawnioaded from NMDC website http://www.nmdc.co.irv and Central Public Procurement pOftal [CPF PORTAL) htLpy/www.upracuTsf gav. I p/e p UD Lahr/ app- the Bidders, on regular tams are required to visit the NMDCs website / CPP Portal websites for corrigendum, if any, at a tutu re date. For further clarification, please contact HOD (Contracts) Email is contracist? nmdc .co. in, esn @ nm de. co. in, p a n kajkum ars@ nmdc. co. i n HOD (Contra ds) Extract of audited financial results of Wipro Limited and its subsidiaries for the quarter ended and half year ended September 30, 2024 RELEVANT PARTICULARS 1. Name of the corporate debtor along with PAN & CIN/ LLP No. GVK Power and Infrastructure Ltd. CIN: L74999TG2005PLC059013 PAN: AAACJ5599A 2. Address ofthe registered office Darshak Chambers, Plot No 32, Ground Floor, H.No 1-8-303/48/32 Street No 1, Penderghast Road, Secunderabad, Hyderabad—500003 Telangana, India 3. URLofwebsite www.gvk.com 4. Details of place where majority of fixed assets are located Hyderabad, Telangana 5. Installed capacity of main products/ services NA 6. Quantity and value of main products/ services sold in last financial year FY 2023-24 Revenue from operations: Rs 760 lakhs 7. Number of employees/ workmen Nil 8. Further details including last available financial statements (with schedules) of two years, lists of creditors are available at URL: Please refer website of GVKPIL www. gvk.com and CIRP Section GVKPIL CIRP 9. Eligibility for resolution applicants under section 25(2)(h) of the Code is available at URL: Please refer website of GVKPIL www. gvk.com and CIRP Section GVKPIL CIRP> Process Documentfor Invitation for EOI dated 18October2024 10. Last date for receipt of expression of interest 02 November 2024 11. Date of issue of provisional list of prospective resolution applicants 12 November2024 12. Last date for submission of objections to provisional list 17 November2024 13. Date of issue offinal list of prospective resolution applicants 25 November 2024 14. Date of issue of information memorandum, evaluation matrix and request for resolution plans to prospective resolution applicants 30 November 2024 15. Last date for submission of resolution plans 30 December 2024 16. Process email id to submit Expression of Interest gvkpilcirp@gmail.com Date: 18 October 2024 For GVK Power and Infrastructure Ltd. Place: Hyderabad, India Sd/- Satish Kumar Gupta Resolution Professional IP Regn. No.—IBBI/IPA-001/IP-P00023/2016-17/10056 AFA No. AA1/10056/02/300625/106924 AFAValidityDate-30 June 2025 17012, Building No. 17, Phase 2, KohinoorCity, Kurla, Mumbai-400070 Satishg 19@outlook.com INVITATION FOR EXPRESSION OF LIMITED OPERATING IN PRODUCTI TRICITYAT (Under sub-regulation (1) ofregulation (Insolvency Resolution Proces INTEREST FOR GACTEL TURNKEY PROJECTS ON, COLLECTION AND DISTRIBUTION OF ELEC- MUMBAI, MAHARASHTRA 36A of the Insolvency and Bankruptcy Board of India s for Corporate Persons) Regulations, 2016) SI. RELEVANT PARTICULARS 1. Name of the Corporate Debtor along with PAN & CIN/LLP No. Gactel Turnkey Projects Limited CIN—U40101MH1995PLC088439 PAN-AABCG2826L1ZI 2. Address of the registered office Floor 3rd, Plot No—3/8, Hamilton House J.N. Heredia Marg, Ballard Estate, Mumbai, Maharashtra 400038—India. 3. URLofwebsite N/A 4. Details of place where majority of fixed assets are located N/A 5. Installed capacity of main products/ services N/A 6. Quantity and value of main products/ services sold in last financial year The Business of the Corporate Debtor is non-opera- tional from the Fiscal Year 2021-22. 7. Number of employees/ workmen N/A 8. Further details including last available financial statements (with schedules) of two years, lists of creditors are available at URL: Mail to: cirp.gactel@gmail.com rkumar56.ip@gmail.com 9. Eligibility for resolution applicants under section 25(2)(h) of the Code is available at URL: Website: http://saarvi.com/running- cases.php E-mail: cirp.gactel@gmail.com rkumar56.ip@gmail.com 10. Last date for receipt of expression of interest 02-11-2024 11. Date of issue of provisional list of prospective resolution applicants 06-11-2024 12. Last date for submission of objections to provisional list 11-11-2024 13. Date of issue of final list of prospective resolution applicants 14-11-2024 14. Date of issue of information memo-randum, evaluation matrix and request for resolution plans to prospective resolution applicants 14-11-2024 15. Last date for submission of resolution plans 14-12-2024 16. Process email id to submit EOI Mail to: cirp.gactel@gmail.com, rkumar56.ip@gmail.com And in the manner mentioned in detailed EOI. Date: 18/10/2024 Mr.KumarRaghavan Resolution Professional of Gactel Turnkey Projects Limited Regd. No. IBBI/IPA-001/IP-P-01433/2018-2019/12336) Regd. Add: A15 Windmill Village Sr. no. 61-75,Paud Road, Bavdhan Budruk, Pune, Maharashtra ,411021 Correspondence Address: B610, BSEL Tech Park, Sector 30A, Opposite Vashi Railway Station, Vashi, Navi Mumbai -400703 Email Id: cirp.gactel@gmail.com, rkumar56.ip@gmail.com Consolidated Audited Financial Results of Wipro Limited under IFRS (tin millions, except per share data, unless otherwise stated) Particulars Quarter ended September 30,2024 Ha If year ended September 30,2024 Quarter ended September 30, 2023 Revenue from operations 223,016 442,664 225,159 Profit before tax 42,770 82,994 35.092 Profit aftertax 32,266 62,632 26,673 Total comprehensive income for the period 37,116 66,313 28.376 Paid-up equity share capital (Par value of ?2 per share) 10,463 10,463 10,444 Reserves excluding non-controlling interest1 as shown in the Audited Statement of Financial Position 739,433 739,433 770,183 Earnings per equity share (Par value of ? 2 per share) (EPS for quarter ended and half year ended periods are not annualized) Basic: (in ?) Diluted: (in ?) 6,14 6.12 11.89 11.85 5,06 5.04 Balance for the quarter ended September 30, 2024 and half year ended September 30, 2024 represent balances as per the audited consolidated statement of financial position for the year ended March 31, 2024 and balance for the quarter ended September 30, 2023 represent balances as per the audited consolidated statement of financial position for the yearended March 31, 2023, as required by the SEBI (Listing Obligations and Disclosure Requirements} Regulations, 2015. The audited consolidated financial results of the Company for the quarter ended and half yearended September 30, 2024 have been approved by the Beard of Directors of the Company at its meeting held on October 17, 2024,The statutory auditors have expressed an unmodified audit opinion. Financial Results of Wipro Limited under Ind AS The financial results are prepared in accordance with Indian Accounting Standards (“Ind AS’1}, the previsions of the Companies Act, 2013 (“the Companies Act”), as applicable and guidelines issued by the Securities and Exchange Board of India (“SEBI”}. The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and amendment rules issued thereafter. Consolidated Audited Financial Results of Wipro Limited under Ind AS FRIDAY, OCTOBER 18, 2024    (Tin millions, except per share data, unless otherwise stated) LTIMindtree Limited (Formerly Larsen & Ton bro Infotech Limited) Registered Office: L®T House. Bal a rd Estate. Mumba 400 DOL Tel (91 22) 6752 5656; Fax: (91 22) 67 5 2 589 3. E-mail: iny^toiWimiridtree.com; Website, www lr mindtnee.com. Corporate Identity Number L729O0MH1996PLCIQ4693 EXTRACT OF FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2024 ? in million Particulars Standalone Quarter ended Six months ended Year ended September 30, 2024 June 30, 2024 Septamber 30, 2023 Septamber 30, 2024 September 30, 2023 March 31, 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Total income 94.072 90,957 87,161 185,029 1 72301 340,033 Net profit before tax 16,361 14,821 14.778 31,182 29,699 58,794 Net profit after tax 12,202 11,062 1 1,336 23,264 22,570 44,859 Total comprehensive Income 10,323 12.349 9,960 22.672 25.083 49.708 Notes: 1. Iha cDriiojidatod and Stairtdakwie finance rebuffs df LTlMindtFE^L m ted (‘the Company’! “or Ihe IJ uar?£r arid Sis months, ended September 30, 2024 have been subjected to limited review by rhe statutory auditors. The results have beer renewed by the Audit Committee of the Board and approved by the Board of Directors al its, meeting held on October 17. 2024 ? The above IS an FXIMCT of the detailed formal cjf me financial results fi er! with the Slock Exchanges under Regulation 33 of the 5FEI (Lisi ng Obligations and Disclosure Requirements) Regulations, 2015 The full format of the consolidated Imari1 al results and the standalone financial results for the quarter and six monEhs ended September 30. 2024 are available or the Stock Exchanges website of BSE (www.bseiridia.com}, NSE fwww nseindia com) and Company’s website at www Himindtree.com/ nwstors 3 Results for the quarter and six months entwo September 30. 2024 are in compliance with the Indian Account ng Standards (ind AS) notified by the Ministry of Corporate Affairs as prescribed under section 133 of the Companies Act 2C13 4 The Board of Directors at its meeting held on October 17, 2024 have declared an interim dividend ? ZEV- per equity share of par value ¥ V- each 5. Figures for the earlier period(s) have been regrouped, wherever necessary. Fpt LTIMindtree Limited Dabashis Chatterjee Chief Executive Officer 3 Manag rig Director Balance for the quarter ended September 30, 2024 and half year ended September 3 0, 2 0 2 4 represent balances as per the audited consolidated balance sheet for the year ended March 31.2024 and balance for the quarter ended September 30, 2023 represent balances as per the audited consolidated balance sheet for the year ended March 31, 2023, as required by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The audited consolidated financial results (under Ind AS) of the Company for the quarter ended and half year ended September 30, 2024 have been approved by the Board of Directors of the Company at its meeting held on October 17, 2024. The statutory auditors have expressed an unmodified audit opinion. Standalone Audited Financial Results of Wipro Limited under Ind AS {^in millions, except per share data, unless otherwise stated) Particulars Quarter ended September 30,2024 Half year ended September 30, 2024 Quarter ended September 30, 2023 Revenue from operations 168,958 333,771 166,307 Profit before tax 37,081 69,890 28.481 Profit after tax 27,135 50,881 20,613 Total comprehensive income for the period 26,819 51,227 20,814 The audited standalone financial results (under Ind AS) of the Company for the quarter ended and half year ended September 30, 2024 have been approved by the Board of Directors of the Company at its meeting held on October 17, 2024. The statutory auditors have expressed an unmodified audit opinion. Notes: 1. The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly Financial Results are available on the Bombay Stock Exchange website (URL: www.bseindia.com), the National Stock Exchange website (URL: www.nseindia.com) and on the Company’s website (URL: www.wipro.com). 2. The Board of Directors in their meeting held on October 17, 2024 approved issue of bonus shares, commonly known as issue of stock dividend in the US, in the proportion of 11, i.e. 1 (one) bonus equity share of T2 each for every 1 (one) fully paid-up equity shares held (including ADS holders} as on the record date, subject to approval by the Members of the Company through Postal Ballot. The bonus issue, if approved, will not affect the ratio of ADSs to equity shares, such that each ADS after the bonus issue will continue to represent one equity share of par value of *2 per share. On completion of bonus issue, the Earnings Per Share for all periods presented will be adjusted retrospectively. By Order of the Board, For Wipro Limited Place: Bengaluru Rishad A. Premjl Date: October 17, 2024 Chairman Registered Office; Wipro Limited, Doddakannelli, Sarjapur Road, Bengaluru—560 035, India Website! wipro.com | Email Id; mfo@wipro.com I Tel: +91-80-2844 0011; Fax; +91-80-2844 0054 CIN: L3 2 W2KA19 46PLC02 0800 flnanclaiexp BENGALURU


LOGO

toatod* do: 8800909649 ^/” «W ©Qseartsb 04 aatfoa^j ^JpiSSd 18.10.2024 toori^tobo c5aR3u)&J PUBLIC NOTICE &C&53<£ (&d€2&6 ^c3d(0^ ^£)0&3C3®. (kod ®^^x* a^on* &^ O^dt^ ©oto Pdoioait^ eJjwonao^ ^eO: 5& ®w ^do* 3, ©on* a, ^SON^ ^ SRO*, iisSoeiiao* S?W, adseo* d^ $^r (^ ^0^-400070. 395® tide© ©^aS:—746, &s®jorrto 4 & t®^, dort^A-560034. ’ Extract of audited financial results of Wipro Limited and its subsidiaries for the quarter ended and half year ended September 30, 2024 FOR LOST DOCUMENT My Client Sri. Raghu Jadhav S/o Anand Arer Aged about 48 years Residing at No.19, OM Mansion, Pampa Extension, Hebbal Kempapura, Bangalore 560024 has irretrievable lost Original Sale Deed dated 188-1999 Document No.BNG(U)-YLNK-2275/ 1999-2000 executed by Mr.A.Anand S/o Sri. Basappa in favour of my client’s Vendor Mr. Girish Naganur S/o Sri.Krishna Rao G Naganur with respect to residential House property, all that piece and parcel of the 1st House at 1st Floor, (Southern Portion) constructed on Site No.19, Byatarayanapura CMC Kata No.262/19 situated at Kempanna Village, Yelahanka Hobli, Bangalore North Taluk My Client has Lodged a Police Complaint for lost article on 16-10-2024 under acknowledgment issued by Police Unit: Bangalore City, Lost Report No.1289434/2024 dated 16-10-2024 If any person/s found the said document please come forward within a period of 7 days from the date of publication of this notice and hand over the same to the undersigned and you will be suitably rewarded. Else there won’t be any further claims from thereon. Address:- Srikantham. V.R, Advocate No. 310,60 feet Road, Talakaveri Layout, Sahakar Nagar Post, Bangalore-560 092. Phone No. 9845104859 SPj^otojtoeto®6’ ssioydx^ (G^to-s^Ftoo^) ©oitort^o, 2002d ©toto Skaototof®®^ oP®H3,P x* o^ to^®^© toe? ©S^ to* J J Gx^^iaeXFtoo^ w?f SS^QW <sioudx£ ©^ 2002d «atoo si-dcaso toasts tosto® ** ‘ ton ©tor? torerto ^®a®^ ©StoiScs*’ (koto «3d^ to^xcrr ^CTOFF Stoto^ Goto Pbcto©sto^to) (<a®^ stood ’©toae’ Goto eroPffitoitoPto) ddroA ©totoro® ^yddd ©xctoto xatosS^A sa®Fzs©Pori toto ©QF^STOA swrad(to), xk xaonad(to) toto ssatoetorodori ^^b^de^odde “GO aadctof a^e”, “^ den^oto? roMe” sterol itectoife. xb^d ^ro^i> ds ^ a^d xbdSd eyt,^^ x^ca^^oan^. 3. xroonadd/ <Sl-aoO9to QXBOp tods So. xfd—xroorodds wdtoerod isa toad toeSto toto tod: ^boa toad Stoto sroasetonadd dSds a 23 ^roto rood TB^ do. LBAN0HL0000086866 do. toa.81,27,807/- (toaareoto 12.11.2024 atari 11:00 (roonsddo) 84,2 2,95 5.75 (djaasaod GO^^ 559 05* Odd Goto^oto wid ‘s.S^to xa^dd Sod totp^aoj 12:00 d dz^ xods ‘Sddds XB©0® a-oz^toad sodded: tods Goto toad a«b toadj ^^08: ddri ^ 5 ©totori^ (xld xrooTOdds) GS^to toS doad,) djadrt ©®aoP: 17-10-2024 0^.8,12,780/- (toaaoaoto Goto odd »©o±>©oS dod + odd toeto® ddd «a+ satoato ddrt^a dtodto xja8dd ©& toad Go^to toad) ©SdfPrt«&aoari sSO^^ acrootl tods Stooi:- 04-11-2024 ®toto d«it 11:00 Ood si^ 03:00 d ddrt | ^atafi X|9ecida2)&®od a®aoP: 11.06.2024 tod^d ^dori^ add : ^oaS ^^ sPori^jsto tossed «roOS .25333 Soa^ 25/44/1, StoF So^ 44/1 ©®^ toOto^FSejaAto, a^rer 5 1/2 too^rt^b, (dodarxjODd aed dad^rd d,d33radd. do. ALN Family tree SR (Kr Ho) 125/2012-13 Q®DOP 15.01.2013 doto ^^2 Pto^o* toori^to deJcdcd dd^osAd, w^s* tooristoto toso®rtd roOP 333 33 Soai 24/44/1 “ a^mr : 14 tood StoF Soai 44/1 ©to, dod^rxiusAd, doddrd d.dssra^dto^ d0d3rxjO3Ad, k^to dori^sto toss®rid rotoP 53333 So^ 24/44/1, a&erar 19 1/2 toodrlto StoF xioaS 44/1 ©to, dod^rxiosAd, d^dd w^to dorWto doa^drid roO« ©actog sotodd, to to ^exldd^ n^to, 3©^ ^do djaetoe, dories to ^stoF sacuato, d^oa”: ^adr^: dS toto aooSA ©a, d^to^ : StoF ®o^44/1 dto e^to, cndoP: dS toto araSA ©s, dto<: ddr ®o.39 dO e^to. “ dto^©* a: 435 ddd ©^©a^^d dsco, dad &&FP toto ato s^sao Sto^o* ”G” ©soto^ ^jaaocto ©xteototo, toaoad, dto^©* J.: ^^ Soa^ 301, addto tod® aXecar 1558 d^d ©a, ©scad^rtoo^ P^cPcS ©to^ d^orr ©^^ ^aoW ®e>soSto4 ”GX? GC?©) a^dc^x?” ©oto ^dctooatodd. dxiato dc^djadFrtto, zsa^rtto, Sdto, Loto sato ajaSorrY ^d toadri xsadaad^ ^dedd ©tosrodd awto* ^toaodod 435 ddd*©a toaaaoto ©aspazSd ajaeto^ toaoad. “ rttoaa:-1) doa&a toaoawdto^ ds^d^ https://sarfaesi.auctiontiger.net touao^ ©todjtodcO ddxioatodd toto to3«|s33d ‘gtoeo*, soa a^oad toto ^etoae 4rod, aro^ ea^r toaoSdod z^c^nadcb d®^ ^eaoaodd^ DEMAND DRAFT/NEFT/RTGS dajao^ doctoaA 5uadS d3addeeazt5d)d3 / ^dto “©F^d^ ‘a-aooaddg” zparidkxioo ©droaAdoaad. ‘ Consolidated Audited Financial Results of Wipro Limited under IFRS (tin millions, except per share data, unless otherwise stated) Particulars Quarter ended Half year ended Quarter ended September 30,2024 September 30,2024 September 30,2023 Revenue from operations 223,016 442,654 225,159 Profit before tax 42,778 82,994 35,092 Profit aftertax 32,266 62,632 26,673 Total comprehensive income for the period 37,116 66,313 28,376 Paid-up equity share capital (Par value of ?2 per 10,463 10,463 10,444 share) Reserves excluding non-controlling interest1 as 739,433 739,433 770,188 shown in the Audited Statement of Financial Position Earnings per equity share (Par value of ?2 per share) (EPS for quarter ended and half year ended periods are not annualized) Basic: (in ?) 6.14 11.89 5.06 Diluted: (in ?) 6.12 11.85 5.04 1Balance for the quarter ended September 30, 2024 and half year ended September 30, 2024 represent balances as per the audited consolidated statement of financial position for the year ended March 31, 2024 and balance for the quarter ended September 30, 2023 represent balances as per the audited consolidated statement of financial position forthe year ended March 31,2023, as required by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The audited consolidated financial results of the Company for the quarter ended and half year ended September 30, 2024 have been approved by the Board of Directors of the Company at its meeting held on October 17, 2024. The statutory auditors have expressed an unmodified audit opinion. ®SF^6ri & dxaoS ^^oddSsb^derfodd 5^ Sgsadoad Be ^san® .& zbs® & ^^ stab?* <*5*acb 38 star, ssad do. 3, 7de zb sass®, an®eso®£) deSd®, 2de ataS, Sdd, ^addoa^;, dortebacb-560 043 gdcb S^Sod staba^e® R^ eadd cbeebetajrtwd 1) BectaS tf.fi. dead tfjaeo defo® an®. decarijaeaaej®, dab?* <*5*ac* 53 ddf, 2) Be asodos® .a ^ ded® an®. decartjaeaae^, dab?* dodoado 34 ddr, 3) Be ddn® a. zbn® ded® das®. decarijeeaaeA dob?* ?*®*acb 30 ddfd aexba ssad Ide d^n®, 3de esddd, ag^ z£®£to deSd®, Sdri, doriVracb-560016, gdcbri«od &eoc*&e^ex> gzJ&dbsad. obadjde d^rWri aids d&d Szsaddafi oba^de Oe^ab d*, #edx>, tad taoacb esqtea esaed tfedo>ri«?d^ ds sitae? d^dad 07 SdrivVvnaA tads* dozoe5abd shag abater^ djeood ^eo&abegjdo. ZuOd: deV ^ri^^ rfdbobdjaVn aids ^ doaca^d SasaddaA oda^de tad tatoac*ri«* zoaddd^, d$ tftaadcb doaoad dtadabnb^ dooododd^ ddf dddaft tab ^dai$ doaMia^nad dodb l«o*^ ^ 4*^^ dorMiado, doriVracb ^adr saexg*, S.esd®. egjdo dLaezos?, ^ecataddaSV (ssdodegd) nadbd^dbd toafc ^ ^d® do. 141, d^e ata 14, d^e arosa do. 261, dabd zbzbao& abase do. 0205, dod ieso®. ^do ^ao^ aa^abdc*, dabd zbzbao& doriVrac* aacs®F do.l2d n^oiej ^ ^ eV^ ^adrSod dBdbtf 30 ©arts* doab encoded d^ra^ 40 esariw aserba -add d^zood- agadr# : ^d® ata 142, X-: T ^ m dto^ : ^d® ata. 166 aids dta a5eodbddo±>0 10 etaici eso®^ spaded, Ide djdaabd 10 ddb eo®oA epadci, 2a5e dodaodd 10 ddd esu®KA epadci obo^ ddabaftcb, dranacOjs® ate ^aab, sad dbd zoafico data ^a^rted^ a&aodcb, aua dxraoqba^ ?^Eabd*j aVrijaoacb^d° Be dooeuoareqi dd. Bedo^ S3, duaeepa d^, d^eoeb do. 8/7, dona &65 zb^dodeo® deSd® S3, doaSrtjaoddd*? dwa^dd, S.eso®. agdo eaozi, e3ori«bacb-56O 036. ^aen®: 9845520830, 7353233778, 9945530955. srode^d ai^nadda dto& ‘acsoaodto^ DEMAND DRAFT/NEFT/RTGS tovao^ ^to&>xbd towao^ $oato#ao±> ddto: adrac toafto* ^53953^ ©Ssdi^, Z39O56’: ^?5^ 23^05^ ©^ <51080^39, scad xJod5 65226845199, x$SeFft-aoO9»5, adi9e djaeds* 5^55953^ ©todo*, IFSC ^jaera^: SBIN0001593. ‘qdori xSSxIdfto: 3) ‘gaoa toasiri 0^^ ©dr sW SJad^rto^xlSxioo &ado& 8^oS 11-11-2024. doauawd addssad aodtorito toto ddtortanaA, doda^ d^^d6, https://sarfaesi.auctiontiger.net ri ^ aea ©daa dofcato^e d^e^ ^droO di9: +91- 6351896643/9173528727, xisato: ‘a-dseo* ZOQ: Support@auctiontiger.netTjddto^xjodarxiLJtoto. 8c330i : 18.10.2024 ^^^ toaed^ ^3953^ ©aodcs* ddroA, (koad ad^ex^ a^xon* ^3953^ Otodra* aoto ^doiosto^to), coWo^^^e^^-os^ov® (coW^^) O^oPv* CIN : L05190KA1921PLC036321 ^eoTOtfsS P^ea : ^©e®e ^o^w, S>W,E|>S aPrv5, 30. 12/1, w^edoZo^, ^^W^^d5 560 029. n^>dss~ : +91 80 4685 5100, ^5^: +91 80 4169 4399, ^w5^^5: www.irco.com ^>a® (P,„^56 rf^Vrt W^VoP^W^^o. ^3& Po±a^3 DQq ^ecbrttf^c®^©6 GgoPeS® AOV ±5,^^ ^ov6 {IC,&G$J«} APSOP^W rfnsr&Dab^rtsan) d^a® ^eVi^jdedo^d, 2016d cd^o^ GguPf^to ©ov ^Pg® tooto ©^soq (©^0^0^, ©wtr, p^to^ta* ©ov oetoov*) ^^o^bW^b to^ 3a®03t>££db±>WW^3 ^oto ^to3^0W^(“© tor©*’’) h^^W KaPra^eps^ 2013 0 Po±^rW pstood Poo 124(6)0^® Po^Wtf ©Otoo, ^OoOO Hto to^rrito ©¥^s ©toQoO ^b.® ©^nsX p,^ to^toto E$©0bto w^doP® Po±^to3 DQq ^tetoW^db cd^x^r GgoPe^to ©ov ^Pg® tos^w (“IC^G^5”) towsrtoodPepsXObOd. dtootobto ©dbdOOwsX ic&GtoW PwsrtobxPepsto ^JeObW^ Xo^o^Po a^s^ ^ieObtosOoW tojtooQP d^adW^do P^b Px©sXto. Xowo«±0 dleobtosOO ±qtobb PotoStoo tobtodP’dO, ©otoO https://www.irco.com/en-m/mvestd “c®d35rd^F35” XPd^dW eto.^ObOto. D Xo^o«tow PdPoVto’W^db WtobS^: »£P OtoordtooQ,toro©toto ^edort^o: V^^PeP dieOb XPr^PeP^W^db) SeVosWbtotob ictoGtoW toW+rtobd ©sWotoitob. Stob totoodO,, ®rafOtostooX©sto joid©* steOb XPr^PeP^W^b) x^toboos^s’psX Ops^WbOto. ado^®^® dtoordtooQ, ^ro©d3to«ed3nl^o: Sto^ Wto^P* TsOtobdb, PspperOeP* BJP®* tobraoP toWTFXbX PePstodeObrt^WsX V^P* to^V©sW3to)tob. tobOb IC^G^5WtowsrtooX©sWbto)to3. ctoOoOPoPStobb P^PoVoODQP dieObW^db.tobsb ±nto£to^rtto/ P,„to3* BWtoW^VoP*rt^db,towsrtooXbOto. P>. aaVop* NreSOtoo ©®soP ICGG^*WwSQ cdSo* ±ato£too Prdtoo ©®aoP So. towartoOtoo tos^od©®3oP 1 2017-18®e sb«aoSOaaVoa* OtoOdO* 8, 2017 WxOdO 6 13, 2024 dtoOdO* 20, 2024 Financial Results of Wipro Limited under Ind AS The financial results are prepared in accordance with Indian Accounting Standards (“Ind AS”), the provisions of the Companies Act, 2013 (“the Companies Act”), as applicable and guidelines issued by the Securities and Exchange Board of India (“SEBI”). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and amendment rules issued thereafter. Consolidated Audited Financial Results of Wipro Limited under Ind AS (tin millions, except per share data, unless otherwise stated) Particulars Quarter ended Half year ended Quarter ended September 30,2024 September 30,2024 September 30,2023 Revenue from operations 223,016 442,654 225,159 Profit before tax 42,778 82,994 35,092 Profit after tax 32,266 62,632 26,673 Total comprehensive income forthe period 37,093 66,291 28,322 Paid-up equity share capital (Par value of ?2 per 10,463 10,463 10,444 share) Reserves excluding non-controlling interest1 as 734,880 734,880 765,703 shown in the Audited Balance Sheet Earnings per equity share (Par value of ?2 per share) (EPS for quarter ended and half year ended periods are not annualized) Basic: (in ?) 6.14 11.89 5.06 Diluted: (in ?) 6.12 11.85 5.04 1Balance for the quarter ended September 30, 2024 and half year ended September 30, 2024 represent balances as per the audited consolidated balance sheet for the year ended March 31,2024 and balance for the quarter ended September 30, 2023 represent balances as per the audited consolidated balance sheet for the year ended March 31, 2023, as required by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The audited consolidated financial results (under Ind AS) of the Company for the quarter ended and half year ended September 30, 2024 have been approved by the Board of Directors of the Company at its meeting held on October 17, 2024. The statutory auditors have expressed an unmodified audit opinion. Standalone Audited Financial Results of Wipro Limited under Ind AS (tin millions, except per share data, unless otherwise stated) Particulars Quarter ended Half year ended Quarter ended September 30,2024 September 30,2024 September 30,2023 Revenue from operations 168,958 333,771 166,807 Profit before tax 37,081 69,890 28,481 Profit aftertax 27,135 50,881 20,613 Total comprehensive income for the period 26,819 51,227 20,814 The audited standalone financial results (under Ind AS) of the Company for the quarter ended and half year ended September 30, 2024 have been approved by the Board of Directors of the Company at its meeting held on October 17, 2024. The statutory auditors have expressed an unmodified audit opinion. Notes: The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly Financial Results are available on the Bombay Stock Exchange website (URL: www.bseindia.com), the National Stock Exchange website (URL: www.nseindia.com) and on the Company’s website (URL: www.wipro.com). The Board of Directors in their meeting held on October 17, 2024 approved issue of bonus shares, commonly known as issue of stock dividend in the US, in the proportion of 1:1, i.e. 1 (one) bonus equity share of ?2 each for every 1 (one) fully paid-up equity shares held (including ADS holders) as on the record date, subject to approval by the Members of the Company through Postal Ballot. The bonus issue, if approved, will not affect the ratio of ADSs to equity shares, such that each ADS after the bonus issue will continue to represent one equity share of par value of ?2 per share. On completion of bonus issue, the Earnings Per Share for all periods presented will be adjusted retrospectively. By Order of the Board, For Wipro Limited Place: Bengaluru Rishad A. Premji Date: October 17, 2024 Chairman Registered Office: Wipro Limited, Doddakannelli, Sarjapur Road, Bengaluru—560 035, India Website: wipro.com | Email Id: info@wipro.com | Tel: +91-80-2844 0011; Fax: +91 -80-2844 0054 CIN:L32102KA1945PLC020800 QT^^EEES^B—, iSo^ds ^ac3 23/MYS/2024 aF33o& 09.10.2024 SV ^dsddo, epaddd us^BKV SddbA SVrtd Seacbd wEbnaOrtVri ‘a-^oao’^ ^S^£)d^& ________________ BsadonaOc* add Moroa d^^ doJbado-c&^oijad:: dj®. 14,03,02,292/—————————————————————————- dode spsds* drartrKVg deridd^ 130 i£sx/ ^rto. ddrt ^^bdds^A 34.05 sax dad^ deojs.-dfdy do 13^ ebb.ood^djboart Sidro jejorfti a^s^. (a^Sa^yo®) erod depart: d^od doceo &&drtV sso^e^ roodjaedo^rtVo do& ^der^f S^drtVdOj alfbVdortjbVd^do. TT^aa^rt | 39,41,474/-~ dQ’Sde^’/S^ddod (d^&b^wo®) erod d^art: Ttetfeddod—Tbydor^ doecs® dsparW eocbd rtdru® ^^1V dofSd ^3on®rtV “apedrae donjon® do^ »bb^d^^bb ddd e5V^od SOO^A? drafe£ & d^rtsb, dos® draeef & dw®rtV) do& 10 dodoe. esrtod deoo® aro.ts®rtV dradS. — -—————————— nv a. ——————————————— 4 | erod-sadonaO-l: | dra. 3,68,36,277/- eS^esazirado: za^rosiraOd’O 8 do. 1^-2 drodood &z£oa ^3FdrtV adrorc®. erod- sadsnae-ll: z^drtr. B^odraoadd ^3J® -1 ss^ru® do. 4/d, &, a & <3 (4^-2 ri dadS^rafid—8 $wSriV>) ri zodco d^-2. 4 ^wSrtV adJSFE® ssdra ^JFO® do. 4/^, 5/eb-d & 13/sb zodeo dodcbdsbFE® sscdFrtd. 5 | erod-gadnab-l: | da. 1,23,86,398/- d©^ dzpsheod gozS^odo® / zb,ts® / dSdezS doo ^dodfi d3cd ddFrtV addri arodd (dzs®dd^)—sdortVracd ao. (dOdddN®) dzpartd dedd (dS^edadd—doz^db^ draczs® ^raw® depart z^Vriraodosi) dS AdFO® ^ rtVri d^ed eddd roodF. erod-sadorroO-lk d^djatd azpart: dxradde s^od d^da&rafd$s ddaodo^ dorado—esddeSd azpsrtd saze. 116/800-900 dO zb,c^ do. 62a, saoe. 120/300-400 dS ^ do. 59a, z3S.Z3bzq.racd—SdesA d^brt s£k 393/800-900 dg $,â–¡£ do. 43zb, &df. 320/300-400 dO zb.af’do.“21a, dbjdrado azpbrtd Sade. 57/400-500 dg ^ do. 840a riVed^ dbd:^eddrtraVd3eg)dD. zbt3®rtVdd dOdeo traded assboS: ^(^doMUEO^Jododddri ddd^dpafieod^oz3$odo®7rtocdafziri] FW/498/AAMO/PRB/SWR^^^ PUBLIC NOTICE This is to inform the general public that my client is intended to Purchase the vacant plot bearing Old No.325/1, PID No.41-1-325/1 forming part and parcel of Schedule ‘A’ Property, which property is more fully detailed in the schedule ‘B’ from Sri. N.Vinaya Gupta S/o.Sri.H.N.Nagendra Gupta, Aged about 53 years, R/at No.37, 11th Cross Road, West Kanakapura Road, K.RRoad, Jayanagar 7th Block,, Bengaluru-560 082, for valuable consideration. Any person/s or financial institutions claiming any charge, lien, right, title agreement, interest or share, claim on the schedule property or objection to such sale in favour of my client, should lodge his/her/their/its objection or claim with supporting documents with the undersigned within 07 days of the issuance of this public notice, failing which, my client will proceed with the purchase of the schedule property on the basis that there are no claims or objections with regard to the purchase of the schedule property and no claim will be entertained thereafter. SCHEDULE ‘A’ PROPERTY All that piece and parcel of the commercial property bearing corporation No.325/1, BBMP PID No.41-1-325/1, measuring 46,058 Sq.ft, situated on Bangalore-Mysore Road, BBMP Ward No.158, Deepanjali Nagar, Bangalore-560 039 and is marked as EFGH in the sketch annexed herein and bounded on: East by : Property belonging to BHEL and Site bearing Corporation No.326 West by : Patel Puttaiah Industrial Road North by : Site bearing Corporation No.325/2 South by : Bangalore-Mysore Road SCHEDULE ‘B’ PROPERTY All that piece and parcel of the Northern side of Schedule ‘A’ property, commercial property bearing corporation No.325/1, BBMP PID No.41-1-325/1, situated on Bangalore-Mysore Road, BBMP Ward No.158, Deepanjali Nagar, Bangalore-560 039, measuring East to West, towards Northern side 121 ’4 “ southern side 123’-5 3/4 “ and North to South, towards Eastern side 86-10 3/4“, Western side 76’-8”, in all ad measuring 10006.9707 Sq.Ft. and bounded on: East by : Property belonging to BHEL and Site bearing Corporation No.326 West by : Patel Puttaiah Industrial Road North by : Property allocated to the share of Smt.N.Gowri i.e., property No.325/2 South by : Remaining property of the Vendor site No.325/1 H.T.NATARAJ. B.Com.LLB. Advocate, HTN LAW ASSOCIATES No. 113,1st Floor, 2nd Main Road, Seshadhripuram, Bangalore-560 020. __________ (Phone No.9845012696) ___________ ±sto£o:i^Wto/P,„to* ©Wto W^VoP* ±sto£d$WsX to^toto tobOra otob A^P® P^Vde PoPStobb ©oO^ DQP ^leObW^db ictoGto*W toWsrtobdbOto. Xopo«±o ^eObtosOOb P^to* to^V©Obto W^VoP* toraO tobOb ictoG^* ps^PsOaoto ^leObW^b GOVdra,SW©Oc-dtobradictoGto*-5O’©_B®*©® tobraoP tobOb ©toO »£PdtobradW X^ ^sQ, (Po±S^rao©W tosS©sXObto todtoo X^toboO) ^sWra ic^Gto*^ £^tob±w^to Sd©O nsS©^rao©W PoPStob draeV©* ©^Psod dOto^Ord tobOb dose©® dO©nsX X©^ P ,toj* todVd^btob. Stobtobd^od P ,toj* todVd w^VoP*® tobOb ictoato* W tonsrtoraWraoV sieObW^ GtobOsX tod>to)toe P,„to+ PodStobO, cObtoo£© aoubto®^ XS WtobS^. todtoitoe SS®W«ib ^ePsXtoOL Xodo^dosieObssOOb dtoj, sieOb tonsrtoO HhooOb ©otoO, Oos* c®*P:to5* coatod dytoeP* O^PV*. tobraSP*: coWO*Srae©*-Osoa* (coatod) OPOPV*. ^-101, 1®e tobSa, 247 ±>5*r GC’.a.ax6. todW*r, aPra/O (sts^) tobbO^-400083. ctobe©*: csg-unit@tcplindia.co.in: toraOss~: + 91 8108118484, tos^ 022 6656 8494 OtoOdb XosQrXwSbtosXto. Cort^Src^-OTjOV (cowtod) ©aoPV SOtosX S^ : Wort^rdo a. Bd*. do^Po5 ©rooP : ©Pra^e^O* 17, 2024 tooS^ Si5b+S A^ssart^o toodo Po±a sstoordar ©V^>e â–¡o^>e^5e ^®3®^ O^oPV â– â– (©od GV^SJE* SOS&OW ^®9®^ StoPIV Goto Pdtabusto£to) ®^>cons©oS P^eS: oSo* 3, 5®c to^w, ©on* to P^©®^c* ^q to~to, P^>©®^u* ^q, Qd^eu* OS, P:©TF (±^to), tooo^-400 070. SST PdeS ©vsS: 746, P^edtoortu 4®e wsp*, tori+.-to- 560034. C-^oag:-aaS®udji5 ©®W+ S^oaQ S—a® 2002 0 »^SD ©SD®S (hid) /.oxtoriV ©toto 2002 0 £is?to B^WV »^d toto ±1®^ ©G^FI SBDriG »O,SD ©SDXQ ©to sTtototow CtoCTg to®09W59A X^a®. xitorg©P0ri ©xiOtoA toto xmraOsri toto ©itoftomOsri ©©FStoA X^a® ©ftoto)rff®oSOf, ^VPoVod ©tooX^ini ©^risto “G$ Sen do—e asaritoe”, toto “GS H©d^—e aaaritoe” ©«iOnto_ta^oV Gqozto^M’Xvto to>Q xz>©n toxGui£raA to^oro toFvVTtoto)to. Xno ©XO:®: ton ©Vto to^‘to5 ^OT^^toPV (^oO GV^toX s^on^ ^OT^^to^V Goto POtou+to^to) W xs©wr0(to), XS xr© wrO(to) toto ho©of®:m0(0:)rt«: xr© ±VO:©: ©VtoF® to^WOogrd. #d,to> xi^riOO PVPoVod £?x©rd ^0,55 ©XrtV®: »>£P xipf®dri ±V©0o3i0. ?>â–S3©naO(Oo)/ Sori® SrooP Sto Stoto So. SS ro©nad (do) SS—©a£ S—3 ©oeS© to© toto CGOW ha©oe®onaO(Oo) W+ SSOo 1. G ©p$o* (xa©nad) G®roP 14.10.2024 Ooto C-oB d». Oto. 5196400/- (itodtooto ©gtoBtoO»32 0: 29.11.2024o 2. n33©o (SS-S3©nad), 1674936.89/- (SG®rto ©g^- G±S®3©0 Xr©0- jo^XtoO to^W 11 Cod SonaiS x^©0to®^©:}Xto0o Oto.WS: toFB,) ©drS^ di A«S« 3. oaSO®* G (SS- tototoarO: Oto. to,® Go»dtoo»to toFB) + Sb® ©w + 12o dtoS (h—dri 5 i toeto~: ©GJdri+ A©to©:S ©SoO xa©naOOb) ©no pr®toto totoriS: LBANSTL0000034154 Oto 519640/- (Ito ©gn SBto0»to XT©®- ©todtoO to—oSri) ®©toto Oto.WV: toFd,) ±o^e©®^o ©®aoP toto Stoto: 21-11-2024 to+ri 11.00 cod to^S 3.00O ®VoS »£P ro^eSdto ©®aoP: 05.10.2024 ^d-33 B^^ ©SO: XP© xtoxto1 xf0O±Sto »rrin©X, T+sr So. 422/44, ©©©2xr±rV, $^0* nrVr® Goto c0cto©Fto£to_ ©taPO nrS© P.©0 ±)Oo Stoe©^, doriVtoto ±tor sr©toto, ^oriVtoO:- 5 60043. ©Vto ±>toF©o0 ±^toP/ 15 ©w tooto EgOGoG nQiP- 41 ©w, jPiO ©Vto 615 ©GO ©w. ©XO: Otowo©: ^tor^; ©toed® Xo. 440 E^P »>rt, S^toP; ©toed® Xo. 45, E®0P; ©toed® xo. 20, SSiP; OX. WSo©S:- 1) SOrgo toFcrooto®: totox,©* https://sarfaesi.aucttonttger.net tooto©P ©®*d®*®iL ®toXmri:|to toto “B®*^®* c-Soago”®^ ^rttokX©: ctoe©*, iw ±3,$* toto ^petoto ±3,$*, ±r®* prtor totooGOoto ©tonrOO: toFg, ©toFOrAtoBrO toto CGO© ±rto£to®: WtoFov* vr^/NEFT/RTGS to:to©P ±2to£X ©SFOrrtwS:®:. 2) cOtocS ©tornOO: Bto^ CGowtoto wtoFov* VT,$*/RTGS/NEFT/ toto©P Oto® toFV:to toto©P ^f©3®o»©n+ SSOo- ©V—e S—eSo* ^®3®* £toP~’ ctoori SSXtoeP:. W© OP*: Seo* GT.O~’ ©X* coW^^, Tad So. 65226845199, S^IerS- Sorgo, ©V—e S—eSo* ^®a®*£toP~’ IFSCP—ev*: SBIN0001593. 3) EMD htodri ©®*dj®* ©ir BID $rtoo*F ©SO X^X©: PtoXto G®roP 28-11-2024. 4) toFOron ©toOtorn ©totorito toto toOtoitanrA, -â– to©©: totoX^o* https://sarfaesi.aucttonttger.net ©¥tor “â– to©©: ]e SOSSP* C+SFS Xpe +91 6351896643/9173528727, S©*^®* ctoe© iW Support@aucttonttger.netto XO±QF&: S—^ J*So.8800909649 : 18.10.2024 S©/- ABBS ABBS© ^xon* a®3oP ©V—e S—eSo* X,®3®* £©oPV (©o©S GV©*SJS’ X,®^®* S©oPv*) ( 0 ^ EbaJroEjo &de.&3£deE9e7* gj^os* egaotfts6 goa® ^e6s ®o.2, Edosfcbaoas’a d®. aradxjaajSecS, alorisliadb-is Giacte^. 26677552,26679041 IP* = BbmdtA a CljS’4 Bbeirou^ Srae oEkSeun6 zJ^o®4 eaxta4 qdd e$53d Baoad ®a^d ®aszeairaac§ Bd^aqjdedR!* son4 aedRrt^K!4 B?4 ^Kra^ate4 ®BuJ son4 dnrtSaen+rs&ou4 B?4 BB^Ou aoudE>+ (BBoa4) aardr^ 2002d Bdi^au goudE>+ (•3^^seE>4re3x>u4) aoteArfeT aotet 3 ad^ &aBbaodod gBdra 13(2) d B^ab ^d^dad aQaaddri^ doaoaifc Oe BekSod icaenadciirteb / sadad) acj tiu^OaQaaerisadderf Esaeddji d>d> sadsdeu dnad d^dabd^ sedoaadj. dde dadd deuid a»aaodaod 60 adder a.BW dneMob^ Sddd daoorid^ a^oiaoart dxbaads sbaddeddj. jsaanaddrteb araed akadd^ dx&sadS drade^sra^aod maenaddriarf sbdj dd>^ asadraiaderf de duaerd dm9d>d)dedodd dda ftabsbd &abd> 8 did; 9 Bdx Ladraodod dde Bsg ^Bdra 13(4)ddab gdSjdad eaaadrferdij eJeraoaid BeTdod aaaodddod) adedera<°>d>d ^rfeid^ BefeSbnaddi ddda&Bjsoacba^d nar^nafl jsaonadcbrterl aadiafte^ eiu^DaaeaeriBrf sb^ ddsg aadraadBri de duaerd ea^Bd aeti^cSedodtl dda ^djdeT zx^ abadia s^ddedzradtb dx^ dda dsd zxi obadide a^ddad ddftt^e Brid a d^o4 didrou^ djae Bdrieusr4 er^oe4 eaxtaW erafi gtbd djad did; grid dreed a^ era& abd sbad>d)dB ®d> aerzisebdd. igab dgQed asraod : 14.10.2024 c53©C7B^t^ / Ht! o£Deni)CJd(3c/ cSc^C^) ^03^(5?^ &oJ(J ere* esasEcrocttB ge esoba^a4 den4 araaoedtaacte ^e qarooba4 erowa 53,49,130/+ Int. thereon decs4. 14.10.2024 ^3d Xodj 12, Xde do.30/9, area es2soo& ansa ^oa^ 30/9/12, 2 de <o Bas;4 saerdtg, sioa^OnfrW, dorteisacb, earlier known as aea»^ adees4, ob^oBSJid d3ae»e, dorfe&aci) ao^d aaojg^j, aSde crera4? do.2, aaaoS sreo^ <Bo.l7, d.a saB4^. agjade-Sr^db 30 esa sb^ ao^d-da® 45 era, a^ 1350 elesa. e^raoat sSade^r areXo ^3si Xod$ 13, sS^sb^j ^<B a?od$ 7, ao^d^t daj ararba cterad: ^6 Xod$rtet> 552 & 553. da>/- ^dt dorfebacb aQsad draoad aQsae Onjao^x 14.10.2024 â–¡ ^^^ EbdcotJ4 ^jae.Bwdetrsj4 er^os4 e., 1 ____________________________________________ dorfebacb-ie) toatod* do: 8800909649 ^/” «W ©Qseartsb 04 aatfoa^j ^JpiSSd 18.10.2024 toori^tobo c5aR3u)&J PUBLIC NOTICE &C&53<£ (&d€2&6 ^c3d(0^ ^£)0&3C3®. (kod ®^^x* a^on* &^ O^dt^ ©oto Pdoioait^ eJjwonao^ ^eO: 5& ®w ^do* 3, ©on* a, ^SON^ ^ SRO*, iisSoeiiao* S?W, adseo* d^ $^r (^ ^0^-400070. 395® tide© ©^aS:—746, &s®jorrto 4 & t®^, dort^A-560034. ’ Extract of audited financial results of Wipro Limited and its subsidiaries for the quarter ended and half year ended September 30, 2024 FOR LOST DOCUMENT My Client Sri. Raghu Jadhav S/o Anand Arer Aged about 48 years Residing at No.19, OM Mansion, Pampa Extension, Hebbal Kempapura, Bangalore 560024 has irretrievable lost Original Sale Deed dated 188-1999 Document No.BNG(U)-YLNK-2275/ 1999-2000 executed by Mr.A.Anand S/o Sri. Basappa in favour of my client’s Vendor Mr. Girish Naganur S/o Sri.Krishna Rao G Naganur with respect to residential House property, all that piece and parcel of the 1st House at 1st Floor, (Southern Portion) constructed on Site No.19, Byatarayanapura CMC Kata No.262/19 situated at Kempanna Village, Yelahanka Hobli, Bangalore North Taluk My Client has Lodged a Police Complaint for lost article on 16-10-2024 under acknowledgment issued by Police Unit: Bangalore City, Lost Report No.1289434/2024 dated 16-10-2024 If any person/s found the said document please come forward within a period of 7 days from the date of publication of this notice and hand over the same to the undersigned and you will be suitably rewarded. Else there won’t be any further claims from thereon. Address:- Srikantham. V.R, Advocate No. 310,60 feet Road, Talakaveri Layout, Sahakar Nagar Post, Bangalore-560 092. Phone No. 9845104859 SPj^otojtoeto®6’ ssioydx^ (G^to-s^Ftoo^) ©oitort^o, 2002d ©toto Skaototof®®^ oP®H3,P x* o^ to^®^© toe? ©S^ to* J J Gx^^iaeXFtoo^ w?f SS^QW <sioudx£ ©^ 2002d «atoo si-dcaso toasts tosto® ** ‘ ton ©tor? torerto ^®a®^ ©StoiScs*’ (koto «3d^ to^xcrr ^CTOFF Stoto^ Goto Pbcto©sto^to) (<a®^ stood ’©toae’ Goto eroPffitoitoPto) ddroA ©totoro® ^yddd ©xctoto xatosS^A sa®Fzs©Pori toto ©QF^STOA swrad(to), xk xaonad(to) toto ssatoetorodori ^^b^de^odde “GO aadctof a^e”, “^ den^oto? roMe” sterol itectoife. xb^d ^ro^i> ds ^ a^d xbdSd eyt,^^ x^ca^^oan^. 3. xroonadd/ <Sl-aoO9to QXBOp tods So. xfd—xroorodds wdtoerod isa toad toeSto toto tod: ^boa toad Stoto sroasetonadd dSds a 23 ^roto rood TB^ do. LBAN0HL0000086866 do. toa.81,27,807/- (toaareoto 12.11.2024 atari 11:00 (roonsddo) 84,2 2,95 5.75 (djaasaod GO^^ 559 05* Odd Goto^oto wid ‘s.S^to xa^dd Sod totp^aoj 12:00 d dz^ xods ‘Sddds XB©0® a-oz^toad sodded: tods Goto toad a«b toadj ^^08: ddri ^ 5 ©totori^ (xld xrooTOdds) GS^to toS doad,) djadrt ©®aoP: 17-10-2024 0^.8,12,780/- (toaaoaoto Goto odd »©o±>©oS dod + odd toeto® ddd «a+ satoato ddrt^a dtodto xja8dd ©& toad Go^to toad) ©SdfPrt«&aoari sSO^^ acrootl tods Stooi:- 04-11-2024 ®toto d«it 11:00 Ood si^ 03:00 d ddrt | ^atafi X|9ecida2)&®od a®aoP: 11.06.2024 tod^d ^dori^ add : ^oaS ^^ sPori^jsto tossed «roOS .25333 Soa^ 25/44/1, StoF So^ 44/1 ©®^ toOto^FSejaAto, a^rer 5 1/2 too^rt^b, (dodarxjODd aed dad^rd d,d33radd. do. ALN Family tree SR (Kr Ho) 125/2012-13 Q®DOP 15.01.2013 doto ^^2 Pto^o* toori^to deJcdcd dd^osAd, w^s* tooristoto toso®rtd roOP 333 33 Soai 24/44/1 “ a^mr : 14 tood StoF Soai 44/1 ©to, dod^rxiusAd, doddrd d.dssra^dto^ d0d3rxjO3Ad, k^to dori^sto toss®rid rotoP 53333 So^ 24/44/1, a&erar 19 1/2 toodrlto StoF xioaS 44/1 ©to, dod^rxiosAd, d^dd w^to dorWto doa^drid roO« ©actog sotodd, to to ^exldd^ n^to, 3©^ ^do djaetoe, dories to ^stoF sacuato, d^oa”: ^adr^: dS toto aooSA ©a, d^to^ : StoF ®o^44/1 dto e^to, cndoP: dS toto araSA ©s, dto<: ddr ®o.39 dO e^to. “ dto^©* a: 435 ddd ©^©a^^d dsco, dad &&FP toto ato s^sao Sto^o* ”G” ©soto^ ^jaaocto ©xteototo, toaoad, dto^©* J.: ^^ Soa^ 301, addto tod® aXecar 1558 d^d ©a, ©scad^rtoo^ P^cPcS ©to^ d^orr ©^^ ^aoW ®e>soSto4 ”GX? GC?©) a^dc^x?” ©oto ^dctooatodd. dxiato dc^djadFrtto, zsa^rtto, Sdto, Loto sato ajaSorrY ^d toadri xsadaad^ ^dedd ©tosrodd awto* ^toaodod 435 ddd*©a toaaaoto ©aspazSd ajaeto^ toaoad. “ rttoaa:-1) doa&a toaoawdto^ ds^d^ https://sarfaesi.auctiontiger.net touao^ ©todjtodcO ddxioatodd toto to3«|s33d ‘gtoeo*, soa a^oad toto ^etoae 4rod, aro^ ea^r toaoSdod z^c^nadcb d®^ ^eaoaodd^ DEMAND DRAFT/NEFT/RTGS dajao^ doctoaA 5uadS d3addeeazt5d)d3 / ^dto “©F^d^ ‘a-aooaddg” zparidkxioo ©droaAdoaad. ‘ Consolidated Audited Financial Results of Wipro Limited under IFRS (tin millions, except per share data, unless otherwise stated) Particulars Quarter ended Half year ended Quarter ended September 30,2024 September 30,2024 September 30,2023 Revenue from operations 223,016 442,654 225,159 Profit before tax 42,778 82,994 35,092 Profit aftertax 32,266 62,632 26,673 Total comprehensive income for the period 37,116 66,313 28,376 Paid-up equity share capital (Par value of ?2 per 10,463 10,463 10,444 share) Reserves excluding non-controlling interest1 as 739,433 739,433 770,188 shown in the Audited Statement of Financial Position Earnings per equity share (Par value of ?2 per share) (EPS for quarter ended and half year ended periods are not annualized) Basic: (in ?) 6.14 11.89 5.06 Diluted: (in ?) 6.12 11.85 5.04 1Balance for the quarter ended September 30, 2024 and half year ended September 30, 2024 represent balances as per the audited consolidated statement of financial position for the year ended March 31, 2024 and balance for the quarter ended September 30, 2023 represent balances as per the audited consolidated statement of financial position forthe year ended March 31,2023, as required by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The audited consolidated financial results of the Company for the quarter ended and half year ended September 30, 2024 have been approved by the Board of Directors of the Company at its meeting held on October 17, 2024. The statutory auditors have expressed an unmodified audit opinion. ®SF^6ri & dxaoS ^^oddSsb^derfodd 5^ Sgsadoad Be ^san® .& zbs® & ^^ stab?* <*5*acb 38 star, ssad do. 3, 7de zb sass®, an®eso®£) deSd®, 2de ataS, Sdd, ^addoa^;, dortebacb-560 043 gdcb S^Sod staba^e® R^ eadd cbeebetajrtwd 1) BectaS tf.fi. dead tfjaeo defo® an®. decarijaeaaej®, dab?* <*5*ac* 53 ddf, 2) Be asodos® .a ^ ded® an®. decartjaeaae^, dab?* dodoado 34 ddr, 3) Be ddn® a. zbn® ded® das®. decarijeeaaeA dob?* ?*®*acb 30 ddfd aexba ssad Ide d^n®, 3de esddd, ag^ z£®£to deSd®, Sdri, doriVracb-560016, gdcbri«od &eoc*&e^ex> gzJ&dbsad. obadjde d^rWri aids d&d Szsaddafi oba^de Oe^ab d*, #edx>, tad taoacb esqtea esaed tfedo>ri«?d^ ds sitae? d^dad 07 SdrivVvnaA tads* dozoe5abd shag abater^ djeood ^eo&abegjdo. ZuOd: deV ^ri^^ rfdbobdjaVn aids ^ doaca^d SasaddaA oda^de tad tatoac*ri«* zoaddd^, d$ tftaadcb doaoad dtadabnb^ dooododd^ ddf dddaft tab ^dai$ doaMia^nad dodb l«o*^ ^ 4*^^ dorMiado, doriVracb ^adr saexg*, S.esd®. egjdo dLaezos?, ^ecataddaSV (ssdodegd) nadbd^dbd toafc ^ ^d® do. 141, d^e ata 14, d^e arosa do. 261, dabd zbzbao& abase do. 0205, dod ieso®. ^do ^ao^ aa^abdc*, dabd zbzbao& doriVrac* aacs®F do.l2d n^oiej ^ ^ eV^ ^adrSod dBdbtf 30 ©arts* doab encoded d^ra^ 40 esariw aserba -add d^zood- agadr# : ^d® ata 142, X-: T ^ m dto^ : ^d® ata. 166 aids dta a5eodbddo±>0 10 etaici eso®^ spaded, Ide djdaabd 10 ddb eo®oA epadci, 2a5e dodaodd 10 ddd esu®KA epadci obo^ ddabaftcb, dranacOjs® ate ^aab, sad dbd zoafico data ^a^rted^ a&aodcb, aua dxraoqba^ ?^Eabd*j aVrijaoacb^d° Be dooeuoareqi dd. Bedo^ S3, duaeepa d^, d^eoeb do. 8/7, dona &65 zb^dodeo® deSd® S3, doaSrtjaoddd*? dwa^dd, S.eso®. agdo eaozi, e3ori«bacb-56O 036. ^aen®: 9845520830, 7353233778, 9945530955. srode^d ai^nadda dto& ‘acsoaodto^ DEMAND DRAFT/NEFT/RTGS tovao^ ^to&>xbd towao^ $oato#ao±> ddto: adrac toafto* ^53953^ ©Ssdi^, Z39O56’: ^?5^ 23^05^ ©^ <51080^39, scad xJod5 65226845199, x$SeFft-aoO9»5, adi9e djaeds* 5^55953^ ©todo*, IFSC ^jaera^: SBIN0001593. ‘qdori xSSxIdfto: 3) ‘gaoa toasiri 0^^ ©dr sW SJad^rto^xlSxioo &ado& 8^oS 11-11-2024. doauawd addssad aodtorito toto ddtortanaA, doda^ d^^d6, https://sarfaesi.auctiontiger.net ri ^ aea ©daa dofcato^e d^e^ ^droO di9: +91- 6351896643/9173528727, xisato: ‘a-dseo* ZOQ: Support@auctiontiger.netTjddto^xjodarxiLJtoto. 8c330i : 18.10.2024 ^^^ toaed^ ^3953^ ©aodcs* ddroA, (koad ad^ex^ a^xon* ^3953^ Otodra* aoto ^doiosto^to), coWo^^^e^^-os^ov® (coW^^) O^oPv* CIN : L05190KA1921PLC036321 ^eoTOtfsS P^ea : ^©e®e ^o^w, S>W,E|>S aPrv5, 30. 12/1, w^edoZo^, ^^W^^d5 560 029. n^>dss~ : +91 80 4685 5100, ^5^: +91 80 4169 4399, ^w5^^5: www.irco.com ^>a® (P,„^56 rf^Vrt W^VoP^W^^o. ^3& Po±a^3 DQq ^ecbrttf^c®^©6 GgoPeS® AOV ±5,^^ ^ov6 {IC,&G$J«} APSOP^W rfnsr&Dab^rtsan) d^a® ^eVi^jdedo^d, 2016d cd^o^ GguPf^to ©ov ^Pg® tooto ©^soq (©^0^0^, ©wtr, p^to^ta* ©ov oetoov*) ^^o^bW^b to^ 3a®03t>££db±>WW^3 ^oto ^to3^0W^(“© tor©*’’) h^^W KaPra^eps^ 2013 0 Po±^rW pstood Poo 124(6)0^® Po^Wtf ©Otoo, ^OoOO Hto to^rrito ©¥^s ©toQoO ^b.® ©^nsX p,^ to^toto E$©0bto w^doP® Po±^to3 DQq ^tetoW^db cd^x^r GgoPe^to ©ov ^Pg® tos^w (“IC^G^5”) towsrtoodPepsXObOd. dtootobto ©dbdOOwsX ic&GtoW PwsrtobxPepsto ^JeObW^ Xo^o^Po a^s^ ^ieObtosOoW tojtooQP d^adW^do P^b Px©sXto. Xowo«±0 dleobtosOO ±qtobb PotoStoo tobtodP’dO, ©otoO https://www.irco.com/en-m/mvestd “c®d35rd^F35” XPd^dW eto.^ObOto. D Xo^o«tow PdPoVto’W^db WtobS^: »£P OtoordtooQ,toro©toto ^edort^o: V^^PeP dieOb XPr^PeP^W^db) SeVosWbtotob ictoGtoW toW+rtobd ©sWotoitob. Stob totoodO,, ®rafOtostooX©sto joid©* steOb XPr^PeP^W^b) x^toboos^s’psX Ops^WbOto. ado^®^® dtoordtooQ, ^ro©d3to«ed3nl^o: Sto^ Wto^P* TsOtobdb, PspperOeP* BJP®* tobraoP toWTFXbX PePstodeObrt^WsX V^P* to^V©sW3to)tob. tobOb IC^G^5WtowsrtooX©sWbto)to3. ctoOoOPoPStobb P^PoVoODQP dieObW^db.tobsb ±nto£to^rtto/ P,„to3* BWtoW^VoP*rt^db,towsrtooXbOto. P>. aaVop* NreSOtoo ©®soP ICGG^*WwSQ cdSo* ±ato£too Prdtoo ©®aoP So. towartoOtoo tos^od©®3oP 1 2017-18®e sb«aoSOaaVoa* OtoOdO* 8, 2017 WxOdO 6 13, 2024 dtoOdO* 20, 2024 Financial Results of Wipro Limited under Ind AS The financial results are prepared in accordance with Indian Accounting Standards (“Ind AS”), the provisions of the Companies Act, 2013 (“the Companies Act”), as applicable and guidelines issued by the Securities and Exchange Board of India (“SEBI”). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and amendment rules issued thereafter. Consolidated Audited Financial Results of Wipro Limited under Ind AS (tin millions, except per share data, unless otherwise stated) Particulars Quarter ended Half year ended Quarter ended September 30,2024 September 30,2024 September 30,2023 Revenue from operations 223,016 442,654 225,159 Profit before tax 42,778 82,994 35,092 Profit after tax 32,266 62,632 26,673 Total comprehensive income forthe period 37,093 66,291 28,322 Paid-up equity share capital (Par value of ?2 per 10,463 10,463 10,444 share) Reserves excluding non-controlling interest1 as 734,880 734,880 765,703 shown in the Audited Balance Sheet Earnings per equity share (Par value of ?2 per share) (EPS for quarter ended and half year ended periods are not annualized) Basic: (in ?) 6.14 11.89 5.06 Diluted: (in ?) 6.12 11.85 5.04 1Balance for the quarter ended September 30, 2024 and half year ended September 30, 2024 represent balances as per the audited consolidated balance sheet for the year ended March 31,2024 and balance for the quarter ended September 30, 2023 represent balances as per the audited consolidated balance sheet for the year ended March 31, 2023, as required by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The audited consolidated financial results (under Ind AS) of the Company for the quarter ended and half year ended September 30, 2024 have been approved by the Board of Directors of the Company at its meeting held on October 17, 2024. The statutory auditors have expressed an unmodified audit opinion. Standalone Audited Financial Results of Wipro Limited under Ind AS (tin millions, except per share data, unless otherwise stated) Particulars Quarter ended Half year ended Quarter ended September 30,2024 September 30,2024 September 30,2023 Revenue from operations 168,958 333,771 166,807 Profit before tax 37,081 69,890 28,481 Profit aftertax 27,135 50,881 20,613 Total comprehensive income for the period 26,819 51,227 20,814 The audited standalone financial results (under Ind AS) of the Company for the quarter ended and half year ended September 30, 2024 have been approved by the Board of Directors of the Company at its meeting held on October 17, 2024. The statutory auditors have expressed an unmodified audit opinion. Notes: The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly Financial Results are available on the Bombay Stock Exchange website (URL: www.bseindia.com), the National Stock Exchange website (URL: www.nseindia.com) and on the Company’s website (URL: www.wipro.com). The Board of Directors in their meeting held on October 17, 2024 approved issue of bonus shares, commonly known as issue of stock dividend in the US, in the proportion of 1:1, i.e. 1 (one) bonus equity share of ?2 each for every 1 (one) fully paid-up equity shares held (including ADS holders) as on the record date, subject to approval by the Members of the Company through Postal Ballot. The bonus issue, if approved, will not affect the ratio of ADSs to equity shares, such that each ADS after the bonus issue will continue to represent one equity share of par value of ?2 per share. On completion of bonus issue, the Earnings Per Share for all periods presented will be adjusted retrospectively. By Order of the Board, For Wipro Limited Place: Bengaluru Rishad A. Premji Date: October 17, 2024 Chairman Registered Office: Wipro Limited, Doddakannelli, Sarjapur Road, Bengaluru—560 035, India Website: wipro.com | Email Id: info@wipro.com | Tel: +91-80-2844 0011; Fax: +91 -80-2844 0054 CIN:L32102KA1945PLC020800 QT^^EEES^B—, iSo^ds ^ac3 23/MYS/2024 aF33o& 09.10.2024 SV ^dsddo, epaddd us^BKV SddbA SVrtd Seacbd wEbnaOrtVri ‘a-^oao’^ ^S^£)d^& ________________ BsadonaOc* add Moroa d^^ doJbado-c&^oijad:: dj®. 14,03,02,292/—————————————————————————- dode spsds* drartrKVg deridd^ 130 i£sx/ ^rto. ddrt ^^bdds^A 34.05 sax dad^ deojs.-dfdy do 13^ ebb.ood^djboart Sidro jejorfti a^s^. (a^Sa^yo®) erod depart: d^od doceo &&drtV sso^e^ roodjaedo^rtVo do& ^der^f S^drtVdOj alfbVdortjbVd^do. TT^aa^rt | 39,41,474/-~ dQ’Sde^’/S^ddod (d^&b^wo®) erod d^art: Ttetfeddod—Tbydor^ doecs® dsparW eocbd rtdru® ^^1V dofSd ^3on®rtV “apedrae donjon® do^ »bb^d^^bb ddd e5V^od SOO^A? drafe£ & d^rtsb, dos® draeef & dw®rtV) do& 10 dodoe. esrtod deoo® aro.ts®rtV dradS. — -—————————— nv a. ——————————————— 4 | erod-sadonaO-l: | dra. 3,68,36,277/- eS^esazirado: za^rosiraOd’O 8 do. 1^-2 drodood &z£oa ^3FdrtV adrorc®. erod- sadsnae-ll: z^drtr. B^odraoadd ^3J® -1 ss^ru® do. 4/d, &, a & <3 (4^-2 ri dadS^rafid—8 $wSriV>) ri zodco d^-2. 4 ^wSrtV adJSFE® ssdra ^JFO® do. 4/^, 5/eb-d & 13/sb zodeo dodcbdsbFE® sscdFrtd. 5 | erod-gadnab-l: | da. 1,23,86,398/- d©^ dzpsheod gozS^odo® / zb,ts® / dSdezS doo ^dodfi d3cd ddFrtV addri arodd (dzs®dd^)—sdortVracd ao. (dOdddN®) dzpartd dedd (dS^edadd—doz^db^ draczs® ^raw® depart z^Vriraodosi) dS AdFO® ^ rtVri d^ed eddd roodF. erod-sadorroO-lk d^djatd azpart: dxradde s^od d^da&rafd$s ddaodo^ dorado—esddeSd azpsrtd saze. 116/800-900 dO zb,c^ do. 62a, saoe. 120/300-400 dS ^ do. 59a, z3S.Z3bzq.racd—SdesA d^brt s£k 393/800-900 dg $,â–¡£ do. 43zb, &df. 320/300-400 dO zb.af’do.“21a, dbjdrado azpbrtd Sade. 57/400-500 dg ^ do. 840a riVed^ dbd:^eddrtraVd3eg)dD. zbt3®rtVdd dOdeo traded assboS: ^(^doMUEO^Jododddri ddd^dpafieod^oz3$odo®7rtocdafziri] FW/498/AAMO/PRB/SWR^^^ PUBLIC NOTICE This is to inform the general public that my client is intended to Purchase the vacant plot bearing Old No.325/1, PID No.41-1-325/1 forming part and parcel of Schedule ‘A’ Property, which property is more fully detailed in the schedule ‘B’ from Sri. N.Vinaya Gupta S/o.Sri.H.N.Nagendra Gupta, Aged about 53 years, R/at No.37, 11th Cross Road, West Kanakapura Road, K.RRoad, Jayanagar 7th Block,, Bengaluru-560 082, for valuable consideration. Any person/s or financial institutions claiming any charge, lien, right, title agreement, interest or share, claim on the schedule property or objection to such sale in favour of my client, should lodge his/her/their/its objection or claim with supporting documents with the undersigned within 07 days of the issuance of this public notice, failing which, my client will proceed with the purchase of the schedule property on the basis that there are no claims or objections with regard to the purchase of the schedule property and no claim will be entertained thereafter. SCHEDULE ‘A’ PROPERTY All that piece and parcel of the commercial property bearing corporation No.325/1, BBMP PID No.41-1-325/1, measuring 46,058 Sq.ft, situated on Bangalore-Mysore Road, BBMP Ward No.158, Deepanjali Nagar, Bangalore-560 039 and is marked as EFGH in the sketch annexed herein and bounded on: East by : Property belonging to BHEL and Site bearing Corporation No.326 West by : Patel Puttaiah Industrial Road North by : Site bearing Corporation No.325/2 South by : Bangalore-Mysore Road SCHEDULE ‘B’ PROPERTY All that piece and parcel of the Northern side of Schedule ‘A’ property, commercial property bearing corporation No.325/1, BBMP PID No.41-1-325/1, situated on Bangalore-Mysore Road, BBMP Ward No.158, Deepanjali Nagar, Bangalore-560 039, measuring East to West, towards Northern side 121 ’4 “ southern side 123’-5 3/4 “ and North to South, towards Eastern side 86-10 3/4“, Western side 76’-8”, in all ad measuring 10006.9707 Sq.Ft. and bounded on: East by : Property belonging to BHEL and Site bearing Corporation No.326 West by : Patel Puttaiah Industrial Road North by : Property allocated to the share of Smt.N.Gowri i.e., property No.325/2 South by : Remaining property of the Vendor site No.325/1 H.T.NATARAJ. B.Com.LLB. Advocate, HTN LAW ASSOCIATES No. 113,1st Floor, 2nd Main Road, Seshadhripuram, Bangalore-560 020. __________ (Phone No.9845012696) ___________ ±sto£o:i^Wto/P,„to* ©Wto W^VoP* ±sto£d$WsX to^toto tobOra otob A^P® P^Vde PoPStobb ©oO^ DQP ^leObW^db ictoGto*W toWsrtobdbOto. Xopo«±o ^eObtosOOb P^to* to^V©Obto W^VoP* toraO tobOb ictoG^* ps^PsOaoto ^leObW^b GOVdra,SW©Oc-dtobradictoGto*-5O’©_B®*©® tobraoP tobOb ©toO »£PdtobradW X^ ^sQ, (Po±S^rao©W tosS©sXObto todtoo X^toboO) ^sWra ic^Gto*^ £^tob±w^to Sd©O nsS©^rao©W PoPStob draeV©* ©^Psod dOto^Ord tobOb dose©® dO©nsX X©^ P ,toj* todVd^btob. Stobtobd^od P ,toj* todVd w^VoP*® tobOb ictoato* W tonsrtoraWraoV sieObW^ GtobOsX tod>to)toe P,„to+ PodStobO, cObtoo£© aoubto®^ XS WtobS^. todtoitoe SS®W«ib ^ePsXtoOL Xodo^dosieObssOOb dtoj, sieOb tonsrtoO HhooOb ©otoO, Oos* c®*P:to5* coatod dytoeP* O^PV*. tobraSP*: coWO*Srae©*-Osoa* (coatod) OPOPV*. ^-101, 1®e tobSa, 247 ±>5*r GC’.a.ax6. todW*r, aPra/O (sts^) tobbO^-400083. ctobe©*: csg-unit@tcplindia.co.in: toraOss~: + 91 8108118484, tos^ 022 6656 8494 OtoOdb XosQrXwSbtosXto. Cort^Src^-OTjOV (cowtod) ©aoPV SOtosX S^ : Wort^rdo a. Bd*. do^Po5 ©rooP : ©Pra^e^O* 17, 2024 tooS^ Si5b+S A^ssart^o toodo Po±a sstoordar ©V^>e â–¡o^>e^5e ^®3®^ O^oPV â– â– (©od GV^SJE* SOS&OW ^®9®^ StoPIV Goto Pdtabusto£to) ®^>cons©oS P^eS: oSo* 3, 5®c to^w, ©on* to P^©®^c* ^q to~to, P^>©®^u* ^q, Qd^eu* OS, P:©TF (±^to), tooo^-400 070. SST PdeS ©vsS: 746, P^edtoortu 4®e wsp*, tori+.-to- 560034. C-^oag:-aaS®udji5 ©®W+ S^oaQ S—a® 2002 0 »^SD ©SD®S (hid) /.oxtoriV ©toto 2002 0 £is?to B^WV »^d toto ±1®^ ©G^FI SBDriG »O,SD ©SDXQ ©to sTtototow CtoCTg to®09W59A X^a®. xitorg©P0ri ©xiOtoA toto xmraOsri toto ©itoftomOsri ©©FStoA X^a® ©ftoto)rff®oSOf, ^VPoVod ©tooX^ini ©^risto “G$ Sen do—e asaritoe”, toto “GS H©d^—e aaaritoe” ©«iOnto_ta^oV Gqozto^M’Xvto to>Q xz>©n toxGui£raA to^oro toFvVTtoto)to. Xno ©XO:®: ton ©Vto to^‘to5 ^OT^^toPV (^oO GV^toX s^on^ ^OT^^to^V Goto POtou+to^to) W xs©wr0(to), XS xr© wrO(to) toto ho©of®:m0(0:)rt«: xr© ±VO:©: ©VtoF® to^WOogrd. #d,to> xi^riOO PVPoVod £?x©rd ^0,55 ©XrtV®: »>£P xipf®dri ±V©0o3i0. ?>â–S3©naO(Oo)/ Sori® SrooP Sto Stoto So. SS ro©nad (do) SS—©a£ S—3 ©oeS© to© toto CGOW ha©oe®onaO(Oo) W+ SSOo 1. G ©p$o* (xa©nad) G®roP 14.10.2024 Ooto C-oB d». Oto. 5196400/- (itodtooto ©gtoBtoO»32 0: 29.11.2024o 2. n33©o (SS-S3©nad), 1674936.89/- (SG®rto ©g^- G±S®3©0 Xr©0- jo^XtoO to^W 11 Cod SonaiS x^©0to®^©:}Xto0o Oto.WS: toFB,) ©drS^ di A«S« 3. oaSO®* G (SS- tototoarO: Oto. to,® Go»dtoo»to toFB) + Sb® ©w + 12o dtoS (h—dri 5 i toeto~: ©GJdri+ A©to©:S ©SoO xa©naOOb) ©no pr®toto totoriS: LBANSTL0000034154 Oto 519640/- (Ito ©gn SBto0»to XT©®- ©todtoO to—oSri) ®©toto Oto.WV: toFd,) ±o^e©®^o ©®aoP toto Stoto: 21-11-2024 to+ri 11.00 cod to^S 3.00O ®VoS »£P ro^eSdto ©®aoP: 05.10.2024 ^d-33 B^^ ©SO: XP© xtoxto1 xf0O±Sto »rrin©X, T+sr So. 422/44, ©©©2xr±rV, $^0* nrVr® Goto c0cto©Fto£to_ ©taPO nrS© P.©0 ±)Oo Stoe©^, doriVtoto ±tor sr©toto, ^oriVtoO:- 5 60043. ©Vto ±>toF©o0 ±^toP/ 15 ©w tooto EgOGoG nQiP- 41 ©w, jPiO ©Vto 615 ©GO ©w. ©XO: Otowo©: ^tor^; ©toed® Xo. 440 E^P »>rt, S^toP; ©toed® Xo. 45, E®0P; ©toed® xo. 20, SSiP; OX. WSo©S:- 1) SOrgo toFcrooto®: totox,©* https://sarfaesi.aucttonttger.net tooto©P ©®*d®*®iL ®toXmri:|to toto “B®*^®* c-Soago”®^ ^rttokX©: ctoe©*, iw ±3,$* toto ^petoto ±3,$*, ±r®* prtor totooGOoto ©tonrOO: toFg, ©toFOrAtoBrO toto CGO© ±rto£to®: WtoFov* vr^/NEFT/RTGS to:to©P ±2to£X ©SFOrrtwS:®:. 2) cOtocS ©tornOO: Bto^ CGowtoto wtoFov* VT,$*/RTGS/NEFT/ toto©P Oto® toFV:to toto©P ^f©3®o»©n+ SSOo- ©V—e S—eSo* ^®3®* £toP~’ ctoori SSXtoeP:. W© OP*: Seo* GT.O~’ ©X* coW^^, Tad So. 65226845199, S^IerS- Sorgo, ©V—e S—eSo* ^®a®*£toP~’ IFSCP—ev*: SBIN0001593. 3) EMD htodri ©®*dj®* ©ir BID $rtoo*F ©SO X^X©: PtoXto G®roP 28-11-2024. 4) toFOron ©toOtorn ©totorito toto toOtoitanrA, -â– to©©: totoX^o* https://sarfaesi.aucttonttger.net ©¥tor “â– to©©: ]e SOSSP* C+SFS Xpe +91 6351896643/9173528727, S©*^®* ctoe© iW Support@aucttonttger.netto XO±QF&: S—^ J*So.8800909649 : 18.10.2024 S©/- ABBS ABBS© ^xon* a®3oP ©V—e S—eSo* X,®3®* £©oPV (©o©S GV©*SJS’ X,®^®* S©oPv*) ( 0 ^ EbaJroEjo &de.&3£deE9e7* gj^os* egaotfts6 goa® ^e6s ®o.2, Edosfcbaoas’a d®. aradxjaajSecS, alorisliadb-is Giacte^. 26677552,26679041 IP* = BbmdtA a CljS’4 Bbeirou^ Srae oEkSeun6 zJ^o®4 eaxta4 qdd e$53d Baoad ®a^d ®aszeairaac§ Bd^aqjdedR!* son4 aedRrt^K!4 B?4 ^Kra^ate4 ®BuJ son4 dnrtSaen+rs&ou4 B?4 BB^Ou aoudE>+ (BBoa4) aardr^ 2002d Bdi^au goudE>+ (•3^^seE>4re3x>u4) aoteArfeT aotet 3 ad^ &aBbaodod gBdra 13(2) d B^ab ^d^dad aQaaddri^ doaoaifc Oe BekSod icaenadciirteb / sadad) acj tiu^OaQaaerisadderf Esaeddji d>d> sadsdeu dnad d^dabd^ sedoaadj. dde dadd deuid a»aaodaod 60 adder a.BW dneMob^ Sddd daoorid^ a^oiaoart dxbaads sbaddeddj. jsaanaddrteb araed akadd^ dx&sadS drade^sra^aod maenaddriarf sbdj dd>^ asadraiaderf de duaerd dm9d>d)dedodd dda ftabsbd &abd> 8 did; 9 Bdx Ladraodod dde Bsg ^Bdra 13(4)ddab gdSjdad eaaadrferdij eJeraoaid BeTdod aaaodddod) adedera<°>d>d ^rfeid^ BefeSbnaddi ddda&Bjsoacba^d nar^nafl jsaonadcbrterl aadiafte^ eiu^DaaeaeriBrf sb^ ddsg aadraadBri de duaerd ea^Bd aeti^cSedodtl dda ^djdeT zx^ abadia s^ddedzradtb dx^ dda dsd zxi obadide a^ddad ddftt^e Brid a d^o4 didrou^ djae Bdrieusr4 er^oe4 eaxtaW erafi gtbd djad did; grid dreed a^ era& abd sbad>d)dB ®d> aerzisebdd. igab dgQed asraod : 14.10.2024 c53©C7B^t^ / Ht! o£Deni)CJd(3c/ cSc^C^) ^03^(5?^ &oJ(J ere* esasEcrocttB ge esoba^a4 den4 araaoedtaacte ^e qarooba4 erowa 53,49,130/+ Int. thereon decs4. 14.10.2024 ^3d Xodj 12, Xde do.30/9, area es2soo& ansa ^oa^ 30/9/12, 2 de <o Bas;4 saerdtg, sioa^OnfrW, dorteisacb, earlier known as aea»^ adees4, ob^oBSJid d3ae»e, dorfe&aci) ao^d aaojg^j, aSde crera4? do.2, aaaoS sreo^ <Bo.l7, d.a saB4^. agjade-Sr^db 30 esa sb^ ao^d-da® 45 era, a^ 1350 elesa. e^raoat sSade^r areXo ^3si Xod$ 13, sS^sb^j ^<B a?od$ 7, ao^d^t daj ararba cterad: ^6 Xod$rtet> 552 & 553. da>/- ^dt dorfebacb aQsad draoad aQsae Onjao^x 14.10.2024 â–¡ ^^^ EbdcotJ4 ^jae.Bwdetrsj4 er^os4 e., 1 ____________________________________________ dorfebacb-ie)

Exhibit 99.3

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS UNDER IFRS

AS AT AND FOR THE THREE AND SIX MONTHS ENDED SEPTEMBER 30, 2024


WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

( in millions, except share and per share data, unless otherwise stated)

 

     Notes      As at March 31, 2024      As at September 30, 2024  
           

 

    

 

     Convenience translation into
US dollar in millions
(unaudited) Refer to Note 2(iii)
 

ASSETS

           

Goodwill

     6        316,002        319,207        3,811  

Intangible assets

     6        32,748        28,195        336  

Property, plant and equipment

     4        81,608        78,822        941  

Right-of-Use assets

     5        17,955        21,854        261  

Financial assets

           

Derivative assets

     17        25        —         —   

Investments

     7        21,629        31,385        375  

Trade receivables

        4,045        587        7  

Other financial assets

     10        5,550        5,148        61  

Investments accounted for using the equity method

        1,044        1,008        12  

Deferred tax assets

        1,817        1,922        23  

Non-current tax assets

        9,043        7,782        93  

Other non-current assets

     11        10,331        7,744        92  
     

 

 

    

 

 

    

 

 

 

Total non-current assets

        501,797        503,654        6,012  
     

 

 

    

 

 

    

 

 

 

Inventories

     8        907        1,052        13  

Financial assets

           

Derivative assets

     17        1,333        651        8  

Investments

     7        311,171        407,309        4,863  

Cash and cash equivalents

     9        96,953        104,592        1,249  

Trade receivables

        115,477        112,655        1,345  

Unbilled receivables

        58,345        64,776        773  

Other financial assets

     10        10,536        8,973        107  

Contract assets

        19,854        17,788        212  

Current tax assets

        6,484        6,086        73  

Other current assets

     11        29,602        32,561        389  
     

 

 

    

 

 

    

 

 

 

Total current assets

        650,662        756,443        9,032  
     

 

 

    

 

 

    

 

 

 

TOTAL ASSETS

        1,152,459        1,260,097        15,044  
     

 

 

    

 

 

    

 

 

 

EQUITY

           

Share capital

        10,450        10,463        125  

Share premium

        3,291        6,000        72  

Retained earnings

        630,936        693,688        8,282  

Share-based payment reserve

        6,384        6,315        75  

Special Economic Zone re-investment reserve

        42,129        41,497        495  

Other components of equity

        56,693        60,380        721  
     

 

 

    

 

 

    

 

 

 

Equity attributable to the equity holders of the Company

        749,883        818,343        9,770  

Non-controlling interests

        1,340        1,798        21  
     

 

 

    

 

 

    

 

 

 

TOTAL EQUITY

        751,223        820,141        9,791  
     

 

 

    

 

 

    

 

 

 

LIABILITIES

           

Financial liabilities

           

Loans and borrowings

     12        62,300        62,653        748  

Lease liabilities

        13,962        18,965        226  

Derivative liabilities

     17        4        1        ^  

Other financial liabilities

     14        4,985        5,862        70  

Deferred tax liabilities

        17,467        16,625        198  

Non-current tax liabilities

        37,090        40,122        479  

Other non-current liabilities

     15        12,970        14,823        177  
     

 

 

    

 

 

    

 

 

 

Total non-current liabilities

        148,778        159,051        1,898  
     

 

 

    

 

 

    

 

 

 

Financial liabilities

           

Loans, borrowings and bank overdrafts

     12        79,166        103,157        1,232  

Lease liabilities

        9,221        8,047        96  

Derivative liabilities

     17        558        1,064        13  

Trade payables and accrued expenses

     13        88,566        82,810        989  

Other financial liabilities

     14        2,272        2,976        36  

Contract liabilities

        17,653        18,439        220  

Current tax liabilities

        21,756        30,599        365  

Other current liabilities

     15        31,295        32,004        382  

Provisions

     16        1,971        1,809        22  
     

 

 

    

 

 

    

 

 

 

Total current liabilities

        252,458        280,905        3,355  
     

 

 

    

 

 

    

 

 

 

TOTAL LIABILITIES

        401,236        439,956        5,253  
     

 

 

    

 

 

    

 

 

 

TOTAL EQUITY AND LIABILITIES

        1,152,459        1,260,097        15,044  
     

 

 

    

 

 

    

 

 

 

^ Value is less than 0.5

 

The accompanying notes form an integral part of these interim condensed consolidated financial statements

 

As per our report of even date attached    For and on behalf of the Board of Directors   
for Deloitte Haskins & Sells LLP    Rishad A. Premji    Deepak M. Satwalekar    Srinivas Pallia
Chartered Accountants    Chairman    Director    Chief Executive Officer and
Firm’s Registration No: 117366W/W - 100018          Managing Director
Anand Subramanian    Aparna C. Iyer       M. Sanaulla Khan
Partner    Chief Financial Officer       Company Secretary
Membership No.: 110815         
Bengaluru         
October 17, 2024         

 

1


WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME

( in millions, except share and per share data, unless otherwise stated)

 

            Three months ended September 30,     Six months ended September 30,  
     Notes      2023     2024     2024     2023     2024     2024  
           

 

   

 

    Convenience
translation into
US dollar in
millions
(unaudited)
Refer to Note
2(iii)
   

 

   

 

    Convenience
translation into
US dollar in
millions
(unaudited)
Refer to Note
2(iii)
 

Revenues

     20        225,159       223,016       2,663       453,469       442,654       5,285  

Cost of revenues

     21        (159,191     (155,049     (1,851     (320,452     (308,355     (3,681
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

        65,968       67,967       812       133,017       134,299       1,604  

Selling and marketing expenses

     21        (18,767     (17,388     (207     (35,351     (33,232     (397

General and administrative expenses

     21        (14,124     (13,034     (156     (30,011     (27,247     (325

Foreign exchange gains/(losses), net

     23        268       (396     (5     206       (602     (7
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Results from operating activities

        33,345       37,149       444       67,861       73,218       875  

Finance expenses

     22        (3,033     (3,569     (43     (6,119     (6,857     (82

Finance and other income

     23        4,810       9,195       110       11,352       16,675       199  

Share of net profit/ (loss) of associate and joint venture accounted for using the equity method

        (30     3       ^       (27     (42     (1
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit before tax

        35,092       42,778       511       73,067       82,994       991  

Income tax expense

     19        (8,419     (10,512     (126     (17,534     (20,362     (243
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit for the period

        26,673       32,266       385       55,533       62,632       748  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit attributable to:

               

Equity holders of the Company

        26,463       32,088       383       55,164       62,120       742  

Non-controlling interests

        210       178       2       369       512       6  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit for the period

        26,673       32,266       385       55,533       62,632       748  
     

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings per equity share:

     24               

Attributable to equity holders of the Company

               

Basic

        5.06       6.14       0.07       10.30       11.89       0.14  

Diluted

        5.04       6.12       0.07       10.27       11.85       0.14  

Weighted average number of equity shares used in computing earnings per equity share

               

Basic

        5,232,867,366       5,226,755,635       5,226,755,635       5,357,394,940       5,226,444,619       5,226,444,619  

Diluted

        5,245,641,198       5,241,078,937       5,241,078,937       5,370,078,563       5,239,886,408       5,239,886,408  

^ Value is less than 0.5

 

The accompanying notes form an integral part of these interim condensed consolidated financial statements

 

As per our report of even date attached    For and on behalf of the Board of Directors   
for Deloitte Haskins & Sells LLP    Rishad A. Premji    Deepak M. Satwalekar    Srinivas Pallia
Chartered Accountants    Chairman    Director    Chief Executive Officer and
Firm’s Registration No: 117366W/W - 100018          Managing Director
Anand Subramanian   

Aparna C. Iyer

      M. Sanaulla Khan
Partner    Chief Financial Officer       Company Secretary
Membership No.: 110815         
Bengaluru         
October 17, 2024         

 

2


WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

( in millions, except share and per share data, unless otherwise stated)

 

     Three months ended September 30,     Six months ended September 30,  
     2023     2024     2024     2023     2024     2024  
    

 

   

 

    Convenience
translation into
US dollar in
millions
(unaudited) Refer
to Note 2(iii)
   

 

   

 

    Convenience
translation into
US dollar in
millions
(unaudited) Refer
to Note 2(iii)
 

Profit for the period

     26,673       32,266       385       55,533       62,632       748  

Other comprehensive income (OCI)

            

Items that will not be reclassified to profit or loss in subsequent periods

            

Remeasurements of the defined benefit plans, net

     51       323       4       6       381       5  

Net change in fair value of investment in equity instruments measured at fair value through OCI

     (124     153       2       (108     (166     (2
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     (73     476       6       (102     215       3  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Items that will be reclassified to profit or loss in subsequent periods

            

Foreign currency translation differences

     1,824       5,115       61       1,462       3,716       44  

Reclassification of foreign currency translation differences on liquidation of subsidiaries to statement of income

     (183     13       ^       (181     13       ^  

Net change in time value of option contracts designated as cash flow hedges, net of taxes

     211       (368     (4     251       (364     (4

Net change in intrinsic value of option contracts designated as cash flow hedges, net of taxes

     (311     (103     (1     201       (18     ^  

Net change in fair value of forward contracts designated as cash flow hedges, net of taxes

     (62     (673     (8     1,586       (455     (6

Net change in fair value of investment in debt instruments measured at fair value through OCI, net of taxes

     297       390       4       1,336       574       7  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     1,776       4,374       52       4,655       3,466       41  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total other comprehensive income, net of taxes

     1,703       4,850       58       4,553       3,681       44  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total comprehensive income for the period

     28,376       37,116       443       60,086       66,313       792  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total comprehensive income attributable to:

            

Equity holders of the Company

     28,169       36,942       441       59,809       65,807       786  

Non-controlling interests

     207       174       2       277       506       6  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
     28,376       37,116       443       60,086       66,313       792  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

^ Value is less than 0.5

 

 

The accompanying notes form an integral part of these interim condensed consolidated financial statements

 

As per our report of even date attached    For and on behalf of the Board of Directors   
for Deloitte Haskins & Sells LLP    Rishad A. Premji    Deepak M. Satwalekar    Srinivas Pallia
Chartered Accountants    Chairman    Director    Chief Executive Officer and
Firm’s Registration No: 117366W/W - 100018          Managing Director
Anand Subramanian    Aparna C. Iyer       M. Sanaulla Khan
Partner    Chief Financial Officer       Company Secretary
Membership No.: 110815         
Bengaluru         
October 17, 2024         

 

3


WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

( in millions, except share and per share data, unless otherwise stated)

 

                                         Other components of equity                     

Particulars

   Number of
shares (1)
    Share
capital,

fully paid-up
    Share
premium
    Retained
earnings
    Share-
based
payment
reserve
    Special
Economic
Zone re-
investment
reserve
    Foreign
currency
translation
reserve (2)
     Cash flow
hedging
reserve (3)
    Other
reserves (2)
     Equity
attributable to
the equity
holders of the
Company
    Non-
controlling
interests
    Total equity  

As at April 1, 2023

     5,487,917,741       10,976       3,689       660,964       5,632       46,803       43,255        (1,403     11,248        781,164       589       781,753  

Comprehensive income for the period

                          

Profit for the period

     —        —        —        55,164       —        —        —         —        —         55,164       369       55,533  

Other comprehensive income

     —        —        —        —        —        —        1,271        2,038       1,336        4,645       (92     4,553  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Total comprehensive income for the period

     —        —        —        55,164       —        —        1,271        2,038       1,336        59,809       277       60,086  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Issue of equity shares on exercise of options

     3,545,482       7       1,811       —        (1,811     —        —         —        —         7       —        7  

Issue of shares by controlled trust on exercise of options (1)

     —        —        —        897       (897     —        —         —        —         —        —        —   

Compensation cost related to employee share-based payment

     —        —        —        5       3,099       —        —         —        —         3,104       —        3,104  

Transferred from Special Economic Zone re-investment reserve

     —        —        —        1,862       —        (1,862     —         —        —         —        —        —   

Buyback of equity shares, including tax thereon (4)

     (269,662,921     (539     (3,768     (141,015     —        —        —         —        539        (144,783     —        (144,783

Transaction cost related to buyback of equity shares (4)

     —        —        —        (390     —        —        —         —        —         (390     —        (390

Others

     —        —        —        —        —        —        —         —        —         —        (43     (43
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

Other transactions for the period

     (266,117,439     (532     (1,957     (138,641     391       (1,862     —         —        539        (142,062     (43     (142,105
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

As at September 30, 2023

     5,221,800,302       10,444       1,732       577,487       6,023       44,941       44,526        635       13,123        698,911       823       699,734  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

   

 

 

   

 

 

 

 

 

 

(1)

Includes 7,310,222 treasury shares held as at September 30, 2023 by a controlled trust. 2,585,614 shares have been transferred by the controlled trust to eligible employees on exercise of options during the six months ended September 30, 2023.

(2)

Refer to Note 18

(3)

Refer to Note 17

(4)

Refer to Note 29

 

4


WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

( in millions, except share and per share data, unless otherwise stated)

 

                                             Other components of equity                      

Particulars

   Number of
shares (1)
     Share capital,
fully paid-up
     Share
premium
     Retained
earnings
     Share-
based
payment
reserve
    Special
Economic
Zone re-
investment
reserve
    Foreign
currency
translation
reserve (2)
     Cash flow
hedging
reserve (3)
    Other
reserves (2)
     Equity
attributable to
the equity
holders of the
Company
     Non-
controlling
interests
    Total equity  

As at April 1, 2024

     5,225,138,246        10,450        3,291        630,936        6,384       42,129       47,261        578       8,854        749,883        1,340       751,223  

Comprehensive income for the period

                               

Profit for the period

     —         —         —         62,120        —        —        —         —        —         62,120        512       62,632  

Other comprehensive income

     —         —         —         —         —        —        3,721        (837     803        3,687        (6     3,681  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Total comprehensive income for the period

     —         —         —         62,120        —        —        3,721        (837     803        65,807        506       66,313  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Issue of equity shares on exercise of options

     6,244,459        13        2,709        —         (2,709     —        —         —        —         13        —        13  

Compensation cost related to employee share-based payment

     —         —         —         —         2,640       —        —         —        —         2,640        —        2,640  

Transferred from Special Economic Zone re-investment reserve

     —         —         —         632        —        (632     —         —        —         —         —        —   

Others

     —         —         —         —         —        —        —         —        —         —         (48     (48
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Other transactions for the period

     6,244,459        13        2,709        632        (69     (632     —         —        —         2,653        (48     2,605  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

As at September 30, 2024

     5,231,382,705        10,463        6,000        693,688        6,315       41,497       50,982        (259     9,657        818,343        1,798       820,141  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Convenience translation into US dollar in millions (unaudited) Refer to Note 2(iii)

        125        72        8,282        75       495       609        (3     115        9,770        21       9,791  
     

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

 

(1)

Includes 5,952,740 treasury shares held as at September 30, 2024 by a controlled trust.

(2)

Refer to Note 18

(3)

Refer to Note 17

The accompanying notes form an integral part of these interim condensed consolidated financial statements

 

As per our report of even date attached    For and on behalf of the Board of Directors   
for Deloitte Haskins & Sells LLP    Rishad A. Premji    Deepak M. Satwalekar    Srinivas Pallia
Chartered Accountants    Chairman    Director    Chief Executive Officer and
Firm’s Registration No: 117366W/W - 100018          Managing Director
Anand Subramanian    Aparna C. Iyer       M. Sanaulla Khan
Partner    Chief Financial Officer       Company Secretary
Membership No.: 110815         
Bengaluru         
October 17, 2024         

 

5


WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

( in millions, except share and per share data, unless otherwise stated)

 

     Six months ended September 30,  
     2023     2024     2024  
    

 

   

 

    Convenience translation
into US dollar in millions
(unaudited) Refer to
Note 2(iii)
 

Cash flows from operating activities

      

Profit for the period

     55,533       62,632       748  

Adjustments to reconcile profit for the period to net cash generated from operating activities:

      

(Gain)/loss on sale of property, plant and equipment, net

     (2,242     (843     (10

Depreciation, amortization and impairment expense

     16,350       15,597       186  

Unrealized exchange (gain)/loss, net

     836       279       2  

Share-based compensation expense

     3,099       2,640       31  

Share of net (profit)/loss of associate and joint venture accounted for using equity method

     27       42       1  

Income tax expense

     17,534       20,362       243  

Finance and other income, net of finance expenses

     (5,233     (9,818     (117

Change in fair value of contingent consideration

     (506     (167     (2

Lifetime expected credit loss

     439       567       7  

Changes in operating assets and liabilities, net of effects from acquisitions

      

(Increase)/Decrease in trade receivables

     17,913       6,008       72  

(Increase)/Decrease in unbilled receivables and contract assets

     (5,937     (4,034     (48

(Increase)/Decrease in Inventories

     (92     (145     (2

(Increase)/Decrease in other assets

     6,498       1,103       13  

Increase/(Decrease) in trade payables, accrued expenses, other liabilities and provisions

     (11,260     (4,216     (50

Increase/(Decrease) in contract liabilities

     (5,928     724       9  
  

 

 

   

 

 

   

 

 

 

Cash generated from operating activities before taxes

     87,031       90,731       1,083  

Income taxes paid, net

     (10,885     (8,083     (96
  

 

 

   

 

 

   

 

 

 

Net cash generated from operating activities

     76,146       82,648       987  
  

 

 

   

 

 

   

 

 

 

Cash flows from investing activities:

      

Payment for purchase of property, plant and equipment

     (4,184     (5,017     (60

Proceeds from disposal of property, plant and equipment

     4,223       1,459       17  

Payment for purchase of investments

     (465,185     (423,829     (5,060

Proceeds from sale of investments

     535,473       323,786       3,866  

Repayment of security deposit for property, plant and equipment

     —        (300     (4

Interest received

     11,274       13,981       167  

Dividend received

     2       1       ^  
  

 

 

   

 

 

   

 

 

 

Net cash generated from/(used in) investing activities

     81,603       (89,919     (1,074
  

 

 

   

 

 

   

 

 

 

Cash flows from financing activities:

      

Proceeds from issuance of equity shares and shares pending allotment

     7       13       ^  

Repayment of loans and borrowings

     (43,750     (66,333     (792

Proceeds from loans and borrowings

     48,750       89,835       1,073  

Payment of lease liabilities

     (5,172     (5,054     (60

Payment for contingent consideration

     (1,289     —        —   

Interest and finance expenses paid

     (4,850     (4,177     (50

Payment for buyback of equity shares, including tax and transaction cost

     (145,173     —        —   
  

 

 

   

 

 

   

 

 

 

Net cash generated from/(used in) financing activities

     (151,477     14,284       171  
  

 

 

   

 

 

   

 

 

 

Net increase in cash and cash equivalents during the period

     6,272       7,013       84  

Effect of exchange rate changes on cash and cash equivalents

     (259     591       7  

Cash and cash equivalents at the beginning of the period

     91,861       96,951       1,157  
  

 

 

   

 

 

   

 

 

 

Cash and cash equivalents at the end of the period (Note 9)

     97,874       104,555       1,248  
  

 

 

   

 

 

   

 

 

 

^ Value is less than 0.5

 

The accompanying notes form an integral part of these interim condensed consolidated financial statements

 

As per our report of even date attached    For and on behalf of the Board of Directors   
for Deloitte Haskins & Sells LLP    Rishad A. Premji    Deepak M. Satwalekar    Srinivas Pallia
Chartered Accountants    Chairman    Director    Chief Executive Officer and
Firm’s Registration No: 117366W/W - 100018          Managing Director
Anand Subramanian    Aparna C. Iyer       M. Sanaulla Khan
Partner    Chief Financial Officer       Company Secretary
Membership No.: 110815         
Bengaluru         
October 17, 2024         

 

6


WIPRO LIMITED AND SUBSIDIARIES

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

( in millions, except share and per share data, unless otherwise stated)

1. The Company overview

Wipro Limited (“Wipro” or the “Parent Company”), together with its subsidiaries and controlled trusts (collectively, “we”, “us”, “our”, “the Company” or the “Group”) is a global information technology (“IT”), consulting and business process services (“BPS”) company.

Wipro is a public limited company incorporated and domiciled in India. The address of its registered office is Wipro Limited, Doddakannelli, Sarjapur Road, Bengaluru – 560 035, Karnataka, India. The Company has its primary listing with BSE Ltd. and National Stock Exchange of India Limited. The Company’s American Depository Shares (“ADS”) representing equity shares are also listed on the New York Stock Exchange.

The Company’s Board of Directors authorized these interim condensed consolidated financial statements for issue on October 17, 2024.

2. Basis of preparation of interim condensed consolidated financial statements

(i) Statement of compliance and basis of preparation

These interim condensed consolidated financial statements have been prepared in compliance with IAS 34, “Interim Financial Reporting”, as issued by the International Accounting Standards Board (“IASB”). Selected explanatory notes are included to explain events and transactions that are significant to understand the changes in financial position and performance of the Company since the last annual consolidated financial statements as at and for the year ended March 31, 2024. These interim condensed consolidated financial statements do not include all the information required for full annual financial statements prepared in accordance with International Financial Reporting Standards and its interpretations (“IFRS”).

The interim condensed consolidated financial statements correspond to the classification provisions contained in IAS 1 (revised), “Presentation of Financial Statements”. For clarity, various items are aggregated in the interim condensed consolidated statements of income, interim condensed consolidated statements of comprehensive income and interim condensed consolidated statements of financial position. These items are disaggregated separately in the notes to the interim condensed consolidated financial statements, where applicable. The accounting policies have been consistently applied to all periods presented in these interim condensed consolidated financial statements except for new accounting standards, amendments and interpretations adopted by the Company effective from April 1, 2024.

All amounts included in the interim condensed consolidated financial statements are reported in millions of Indian rupees ( in millions) except share and per share data, unless otherwise stated. Due to rounding off, the numbers presented throughout the document may not add up precisely to the totals and percentages may not precisely reflect the absolute figures. Previous period figures have been regrouped/rearranged, wherever necessary.

(ii) Basis of measurement

These interim condensed consolidated financial statements have been prepared on a historical cost convention and on an accrual basis, except for the following material items which have been measured at fair value as required by relevant IFRS:

 

  a.

Derivative financial instruments;

 

  b.

Financial instruments classified as fair value through other comprehensive income or fair value through profit or loss;

 

  c.

The defined benefit liability/(asset) is recognized as the present value of defined benefit obligation less fair value of plan assets; and

 

  d.

Contingent consideration and liability on written put options.

(iii) Convenience translation (unaudited)

The accompanying interim condensed consolidated financial statements have been prepared and reported in Indian rupees, the functional currency of the Parent Company. Solely for the convenience of the readers, the interim condensed consolidated financial statements as at and for the three and six months ended September 30, 2024, have been translated into United States dollars at the certified foreign exchange rate of US$1 =  83.76 as published by Federal Reserve Board of Governors on September 30, 2024. No representation is made that the Indian rupee amounts have been, could have been or could be converted into United States dollars at such a rate or any other rate. Due to rounding off, the translated numbers presented throughout the document may not add up precisely to the totals.

(iv) Use of estimates and judgment

The preparation of the interim condensed consolidated financial statements in conformity with IFRS requires the management to make judgments, accounting estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Accounting estimates are monetary amounts in the interim condensed consolidated financial statements that are subject to measurement uncertainty. An accounting policy may require items in the interim condensed consolidated financial statements to be measured at monetary amounts that cannot be observed directly and must instead be estimated. In such a case, management develops an accounting estimate to achieve the objective set out by the accounting policy. Developing accounting estimates involves the use of judgements or assumptions based on the latest available and reliable information. Actual results may differ from those accounting estimates.

 

7


Accounting estimates and underlying assumptions are reviewed on an ongoing basis. Changes to accounting estimates are recognized in the period in which the estimates are changed and in any future periods affected. In particular, information about material areas of estimation, uncertainty and critical judgments in applying accounting policies that have material effect on the amounts recognized in the interim condensed consolidated financial statements are included in the following notes:

 

  a)

Revenue recognition: The Company applies judgement to determine whether each product or service promised to a customer is capable of being distinct, and is distinct in the context of the contract, if not, the promised product or service is combined and accounted as a single performance obligation. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive (the “Transaction Price”). The Company allocates the Transaction Price to separately identifiable performance obligation deliverables based on their relative stand-alone selling price. In cases where the Company is unable to determine the stand-alone selling price, the Company uses expected cost-plus margin approach in estimating the stand-alone selling price. The Company uses the percentage of completion method using the input (cost expended) method to measure progress towards completion in respect of fixed price contracts. Percentage of completion method accounting relies on estimates of total expected contract revenue and costs. This method is followed when reasonably dependable estimates of the revenues and costs applicable to various elements of the contract can be made. Key factors that are reviewed in estimating the future costs to complete include estimates of future labor costs and productivity efficiencies. Because the financial reporting of these contracts depends on estimates that are assessed continually during the term of these contracts, revenue recognized, profit and timing of revenue for remaining performance obligations are subject to revisions as the contract progresses to completion. When estimates indicate that a loss will be incurred, the loss is provided for in the period in which the loss becomes probable. Volume discounts are recorded as a reduction of revenue. When the amount of discount varies with the levels of revenue, volume discount is recorded based on estimate of future revenue from the customer.

 

  b)

Impairment testing: Goodwill recognized on business combination is tested for impairment at least annually and when events occur or changes in circumstances indicate that the recoverable amount of goodwill or a cash generating unit to which goodwill pertains, is less than the carrying value. The Company assesses acquired intangible assets with finite useful life for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The recoverable amount of an asset or a cash generating unit is higher of value-in-use and fair value less cost of disposal. The calculation of value in use of an asset or a cash generating unit involves use of significant estimates and assumptions which include turnover, growth rates and net margins used to calculate projected future cash flows, risk-adjusted discount rate, future economic and market conditions.

 

  c)

Income taxes: The major tax jurisdictions for the Company are India and the United States of America.

Significant judgments are involved in determining the provision for income taxes including judgment on whether tax positions are probable of being sustained in tax assessments. A tax assessment can involve complex issues, which can only be resolved over extended time periods.

Deferred tax is recorded on temporary differences between the tax bases of assets and liabilities and their carrying amounts, at the rates that have been enacted or substantively enacted at the reporting date. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable profits during the periods in which those temporary differences and tax loss carry-forwards become deductible. The Company considers expected reversal of deferred tax liabilities and projected future taxable income in making this assessment. The amount of deferred tax assets considered realizable, however, could reduce in the near term if estimates of future taxable income during the carry-forward period are reduced.

 

  d)

Business combinations: In accounting for business combinations, judgment is required to assess whether an identifiable intangible asset is to be recorded separately from goodwill. Additionally, estimating the acquisition date fair value of the identifiable assets acquired (including useful life estimates), liabilities assumed, and contingent consideration assumed involves management judgment. These measurements are based on information available at the acquisition date and are based on expectations and assumptions that have been deemed reasonable by management. Changes in these judgments, estimates, and assumptions can materially affect the results of operations.

 

  e)

Defined benefit plans and compensated absences: The cost of the defined benefit plans, compensated absences and the present value of the defined benefit obligations are based on actuarial valuation using the projected unit credit method. An actuarial valuation involves making various assumptions that may differ from actual developments in the future. These include the determination of the discount rate, future salary increases and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.

 

  f)

Expected credit losses on financial assets: The impairment provisions of financial assets are based on assumptions about risk of default and expected timing of collection. The Company uses judgment in making these assumptions and selecting the inputs to the expected credit loss calculation based on the Company’s history of collections, customer’s creditworthiness, existing market conditions as well as forward looking estimates at the end of each reporting period.

 

  g)

Useful lives of property, plant and equipment: The Company depreciates property, plant and equipment on a straight-line basis over estimated useful lives of the assets. The charge in respect of periodic depreciation is derived based on an estimate of an asset’s expected useful life and the expected residual value at the end of its life. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology. The estimated useful life is reviewed at least annually.

 

  h)

Useful lives of intangible assets: The Company amortizes intangible assets on a straight-line basis over estimated useful lives of the assets. The useful life is estimated based on a number of factors including the effects of obsolescence, demand, competition and other economic factors such as the stability of the industry and known technological advances and the level of maintenance expenditures required to obtain the expected future cash flows from the assets. The estimated useful life is reviewed at least annually.

 

8


  i)

Provisions and contingent liabilities: The Company estimates the provisions that have present obligations as a result of past events and it is probable that outflow of resources will be required to settle the obligations. These provisions are reviewed at the end of each reporting date and are adjusted to reflect the current best estimates.

The Company uses significant judgement to disclose contingent liabilities. Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made. Contingent assets are neither recognized nor disclosed in the financial statements.

3. Material accounting policy information

Please refer to the Company’s Annual report for the year ended March 31, 2024, for a discussion of the Company’s other material accounting policy information except for new accounting standards, amendments and interpretations adopted by the Company effective on or after April 1, 2024.

i. New amendments not yet adopted:

Certain new standards, amendments to standards and interpretations are not yet effective for annual periods beginning after April 1, 2024 and have not been applied in preparing these interim condensed consolidated financial statements. New standards, amendments to standards and interpretations that could have potential impact on the interim condensed consolidated financial statements of the Company are:

Amendments to IAS 21 – The Effects of Changes in Foreign Exchange Rates

On August 15, 2023, IASB issued ‘Lack of Exchangeability (Amendments to IAS 21)’ that clarifies how an entity should assess whether a currency is exchangeable and how it should determine a spot exchange rate when exchangeability is lacking, as well as require the disclosure of information that enables users of financial statements to understand the impact of a currency not being exchangeable. These amendments are effective for annual reporting periods beginning on or after January 1, 2025, with earlier application permitted. The adoption of amendments to IAS 21 is not expected to have any material impact on the interim condensed consolidated financial statements.

IFRS 18 – Presentation and Disclosure in Financial Statements

On April 9, 2024, IASB issued IFRS 18 ‘Presentation and Disclosure in Financial Statements’ which supersedes IAS 1 ‘Presentation of Financial Statements’, aimed at improving comparability and transparency of communication in financial statements. IFRS 18 requires an entity to classify all income and expenses within its statement of profit or loss into one of five categories: operating, investing, financing, income taxes and discontinued operations. These categories are complemented by the requirement to present specified totals and subtotals for ‘operating profit or loss’, ‘profit or loss before financing and income taxes’ and ‘profit or loss’. It also requires disclosure of management-defined performance measures and includes new requirements for aggregation and disaggregation of financials information based on the identified ‘roles’ of the primary financial statements and the notes.

Consequent to above, a narrow-scope amendments have been made to IAS 7 ‘Statement of Cash Flows’, which include changing the starting point for determining cash flows from operations under the indirect method from ‘profit or loss’ to ‘operating profit or loss’. Further, some requirements previously included within IAS 1 have been moved to IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’ which has also been renamed IAS 8 ‘Basis of Preparation of Financial Statements’. IAS 34 ‘ Interim Financial Reporting’ was amended to require disclosure of management defined performance measures. Minor consequential amendments to other standards were also made.

An entity that prepares condensed interim financial statements in accordance with IAS 34 in the first year of adoption of IFRS 18, must present the heading and mandatory subtotals it expects to use in its annual financial statement. Comparative period in both the interim and annual financial statements will need to be restated and a reconciliation of the statement of profit or loss previously published will be required for the immediately preceding comparative period. IFRS 18 and the amendments to the other standards, is effective for reporting period beginning on or after January 1, 2027 and are to be applied retrospectively, with earlier application permitted.

The Company is currently assessing the impact of adopting IFRS 18 and the amendments to other standards, on the interim condensed consolidated financial statements.

IFRS 19 – Subsidiaries without Public Accountability: Disclosures

On May 9, 2024, IASB issued IFRS 19 ‘Subsidiaries without Public accountability: Disclosures’ which specifies the disclosure requirements an entity is permitted to apply instead of the disclosure requirements in other IFRS Accounting Standards. The standard allows a subsidiary which does not have public accountability and has an ultimate or intermediate parent that produces consolidated financial statements available for public use that comply with IFRS Accounting Standards, to elect IFRS 19. The Company is currently assessing the impact of adopting IFRS 19 on the interim condensed consolidated financial statements.

 

9


Amendments to IFRS 9 and IFRS 7 – Classification and Measurement of Financial Instruments

On May 30, 2024, IASB issued ‘Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)’ to address matters identified during the post-implementation review of IFRS 9. The amendments relate to derecognition of a financial liability settled through electronic transfer, classification of financial assets and disclosures of certain financial assets and financial liabilities. These amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted. The Company is currently assessing the impact of adopting these amendments on the interim condensed consolidated financial statements.

 

10


4. Property, plant and equipment

 

     Land     Buildings     Plant and
equipment (1)
    Furniture and
fixtures
    Office
equipment
    Vehicles     Total  

Gross carrying value:

              

As at April 1, 2023

   4,860     47,700     117,732     18,086     7,818     161     196,357  

Additions

     —        392       2,070       705       125       2       3,294  

Disposals

     (486     (805     (5,922     (886     (236     (122     (8,457

Translation adjustment

     (3     (1     (38     (13     (18     ^       (73
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at September 30, 2023

   4,371     47,286     113,842     17,892     7,689     41     191,121  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated depreciation/ impairment:

 

           

As at April 1, 2023

   —      10,927     85,501     11,520     5,928     145     114,021  

Depreciation and impairment

     —        726       5,902       1,071       322       4       8,025  

Disposals

     —        (342     (5,003     (852     (230     (122     (6,549

Translation adjustment

     —        1       (12     (4     (12     ^       (27
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at September 30, 2023

   —      11,312     86,388     11,735     6,008     27     115,470  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net carrying value as at September 30, 2023

   4,371     35,974     27,454     6,157     1,681     14     75,651  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Capital work-in-progress

               7,435  
              

 

 

 

Net carrying value including Capital work-in-progress as at September 30, 2023

 

        83,086  
              

 

 

 

Gross carrying value:

              

As at April 1, 2023

   4,860     47,700     117,732     18,086     7,818     161     196,357  

Additions

     —        428       6,975       1,716       354       3       9,476  

Additions through Business combinations

     —        —        373       —        1       —        374  

Disposals

     (486     (1,174     (22,815     (1,586     (663     (131     (26,855

Translation adjustment

     1       70       248       17       4       1       341  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at March 31, 2024

   4,375     47,024     102,513     18,233     7,514     34     179,693  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated depreciation/ impairment:

 

           

As at April 1, 2023

   —      10,927     85,501     11,520     5,928     145     114,021  

Depreciation and impairment

     —        1,490       11,856       2,193       638       7       16,184  

Disposals

     —        (683     (22,019     (1,444     (639     (130     (24,915

Translation adjustment

     —        41       211       18       5       ^       275  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at March 31, 2024

   —      11,775     75,549     12,287     5,932     22     105,565  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net carrying value as at March 31, 2024

   4,375     35,249     26,964     5,946     1,582     12     74,128  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Capital work-in-progress

               7,480  
              

 

 

 

Net carrying value including Capital work-in-progress as at March 31, 2024

 

        81,608  
              

 

 

 

Gross carrying value:

              

As at April 1, 2024

   4,375     47,024     102,513     18,233     7,514     34     179,693  

Additions

     —        758       2,771       434       265       5       4,233  

Disposals

     —        (426     (4,513     (489     (209     (1     (5,638

Translation adjustment

     7       1       235       15       11       (1     268  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at September 30, 2024

   4,382     47,357     101,006     18,193     7,581     37     178,556  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated depreciation/ impairment:

 

           

As at April 1, 2024

   —      11,775     75,549     12,287     5,932     22     105,565  

Depreciation and impairment

     —        768       5,747       1,090       294       2       7,901  

Disposals

     —        (180     (4,379     (415     (184     (1     (5,159

Translation adjustment

     —        (29     190       7       5       ^       173  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at September 30, 2024

   —      12,334     77,107     12,969     6,047     23     108,480  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net carrying value as at September 30, 2024

   4,382     35,023     23,899     5,224     1,534     14     70,076  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Capital work-in-progress

               8,746  
              

 

 

 

Net carrying value including Capital work-in-progress as at September 30, 2024

 

        78,822  
              

 

 

 

 

^

Value is less than 0.5

(1) 

Including net carrying value of computer equipment and software amounting to 18,177, 17,553 and 14,703, as at September 30, 2023, March 31, 2024 and September 30, 2024, respectively.

 

11


5. Right-of-Use assets

 

     Category of Right-of-Use asset        
     Land     Buildings     Plant and
equipment (1)
    Vehicles     Total  

Gross carrying value:

          

As at April 1, 2023

   1,278     27,946     2,580     865     32,669  

Additions

     —        2,408       233       113       2,754  

Disposals

     —        (2,442     (629     (158     (3,229

Translation adjustment

     —        (73     ^       (12     (85
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at September 30, 2023

   1,278     27,839     2,184     808     32,109  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated depreciation:

          

As at April 1, 2023

   77     12,127     1,192     571     13,967  

Depreciation

     9       2,708       221       93       3,031  

Disposals

     —        (1,179     (554     (136     (1,869

Translation adjustment

     —        (49     (7     (7     (63
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at September 30, 2023

   86     13,607     852     521     15,066  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net carrying value as at September 30, 2023

   1,192     14,232     1,332     287     17,043  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross carrying value:

          

As at April 1, 2023

   1,278     27,946     2,580     865     32,669  

Additions

     65       6,505       264       251       7,085  

Additions through Business combination

     —        33       —        —        33  

Disposals

     —        (6,203     (636     (271     (7,110

Translation adjustment

     —        172       34       4       210  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at March 31, 2024

   1,343     28,453     2,242     849     32,887  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated depreciation:

          

As at April 1, 2023

   77     12,127     1,192     571     13,967  

Depreciation

     21       5,485       444       181       6,131  

Disposals

     —        (4,439     (561     (244     (5,244

Translation adjustment

     —        64       11       3       78  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at March 31, 2024

   98     13,237     1,086     511     14,932  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net carrying value as at March 31, 2024

   1,245     15,216     1,156     338     17,955  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross carrying value:

          

As at April 1, 2024

   1,343     28,453     2,242     849     32,887  

Additions

     —        7,251       —        118       7,369  

Disposals

     (221     (2,406     (2     (135     (2,764

Translation adjustment

     —        242       67       36       345  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at September 30, 2024

   1,122     33,540     2,307     868     37,837  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Accumulated depreciation:

          

As at April 1, 2024

   98     13,237     1,086     511     14,932  

Depreciation

     12       2,671       223       89       2,995  

Disposals

     (14     (1,992     (2     (131     (2,139

Translation adjustment

     —        130       45       20       195  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

As at September 30, 2024

   96     14,046     1,352     489     15,983  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net carrying value as at September 30, 2024

   1,026     19,494     955     379     21,854  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

^

Value is less than 0.5

(1) 

Including net carrying value of computer equipment amounting to 3, 2 and 2 as at September 30, 2023, March 31, 2024 and September 30, 2024, respectively.

 

12


6. Goodwill and intangible assets

The movement in goodwill balance is given below:

 

     As at  
     March 31, 2024      September 30, 2024  

Balance at the beginning of the period

   307,970      316,002  

Translation adjustment

     4,206        3,205  

Acquisition through Business combinations(1)

     4,314        —   

Disposals

     (488      —   
  

 

 

    

 

 

 

Balance at the end of the period

   316,002      319,207  
  

 

 

    

 

 

 

 

(1) 

Acquisition through business combination for the year ended March 31, 2024 is after considering the impact of (503) towards measurement period changes in purchase price allocation of acquisitions made during the year ended March 31, 2023.

The movement in intangible assets is given below:

 

     Intangible assets  
     Customer-related      Marketing-related      Total  

Gross carrying value:

        

As at April 1, 2023

   49,813      11,924      61,737  

Translation adjustment

     431        111        542  
  

 

 

    

 

 

    

 

 

 

As at September 30, 2023

   50,244      12,035      62,279  
  

 

 

    

 

 

    

 

 

 

Accumulated amortization/ impairment:

        

As at April 1, 2023

   15,417      3,275      18,692  

Amortization and impairment (1) (2)

     4,393        901        5,294  

Translation adjustment

     152        32        184  
  

 

 

    

 

 

    

 

 

 

As at September 30, 2023

   19,962      4,208      24,170  
  

 

 

    

 

 

    

 

 

 

Net carrying value as at September 30, 2023

   30,282      7,827      38,109  
  

 

 

    

 

 

    

 

 

 

Gross carrying value:

        

As at April 1, 2023

   49,813      11,924      61,737  

Acquisition through Business combination

     556        390        946  

Deductions/adjustments

     (7,306      (505      (7,811

Translation adjustment

     609        163        772  
  

 

 

    

 

 

    

 

 

 

As at March 31, 2024

   43,672      11,972      55,644  
  

 

 

    

 

 

    

 

 

 

Accumulated amortization/ impairment:

        

As at April 1, 2023

   15,417      3,275      18,692  

Amortization and impairment (1) (2)

     9,961        1,795        11,756  

Deductions/adjustments

     (7,306      (505      (7,811

Translation adjustment

     209        50        259  
  

 

 

    

 

 

    

 

 

 

As at March 31, 2024

   18,281      4,615      22,896  
  

 

 

    

 

 

    

 

 

 

Net carrying value as at March 31, 2024

   25,391      7,357      32,748  
  

 

 

    

 

 

    

 

 

 

Gross carrying value:

        

As at April 1, 2024

   43,672      11,972      55,644  

Deductions/adjustments

     (4,084      (1,979      (6,063

Translation adjustment

     220        60        280  
  

 

 

    

 

 

    

 

 

 

As at September 30, 2024

   39,808      10,053      49,861  
  

 

 

    

 

 

    

 

 

 

Accumulated amortization/ impairment:

        

As at April 1, 2024

   18,281      4,615      22,896  

Amortization and impairment (1)

     3,668        1,033        4,701  

Deductions/adjustments

     (4,084      (1,979      (6,063

Translation adjustment

     105        27        132  
  

 

 

    

 

 

    

 

 

 

As at September 30, 2024

   17,970      3,696      21,666  
  

 

 

    

 

 

    

 

 

 

Net carrying value as at September 30, 2024

   21,838      6,357      28,195  
  

 

 

    

 

 

    

 

 

 

 

(1) 

During the six months ended September 30, 2023 and 2024, and year ended March 31, 2024, decline in the revenue and earnings estimates led to revision of recoverable value of customer-relationship intangible assets and marketing related intangible assets recognized on business combinations. Consequently, the Company has recognized impairment charge of 437 and 1,147 for the three and six months ended September 30, 2023 and 2024, respectively, and 1,701 for the year ended March 31, 2024, as part of amortization and impairment.

(2) 

Due to change in our estimate of useful life of customer-related intangibles in an earlier business combination, the Company has recognized additional amortization charge of 1,211 for the three and six months ended September 30, 2023 and 2,807 for the year ended March 31, 2024, as part of amortization and impairment.

Amortization expense on intangible assets is included in selling and marketing expenses in the interim condensed consolidated statement of income.

 

13


7. Investments

 

     As at  
     March 31, 2024      September 30, 2024  

Non-current

     

Financial instruments at FVTPL

     

Equity instruments (1)

   4,404      4,658  

Fixed maturity plan mutual funds

     1,395        1,162  

Financial instruments at FVTOCI

     

Equity instruments (1)

     15,830        16,124  

Financial instruments at amortized cost

     

Inter corporate and term deposits

     ^        9,441  
  

 

 

    

 

 

 
   21,629      31,385  
  

 

 

    

 

 

 

Current

     

Financial instruments at FVTPL

     

Short-term mutual funds (2)

   71,686      99,774  

Fixed maturity plan mutual funds

     —         290  

Financial instruments at FVTOCI

     

Non-convertible debentures

     154,407        211,247  

Government securities

     7,030        13,906  

Commercial papers

     11,845        3,386  

Bonds

     28,195        19,632  

Financial instruments at amortized cost

     

Inter corporate and term deposits (3)

     38,008        59,074  
  

 

 

    

 

 

 
   311,171      407,309  
  

 

 

    

 

 

 
   332,800      438,694  
  

 

 

    

 

 

 

Financial instruments at FVTPL

   77,485      105,884  

Financial instruments at FVTOCI

     217,307        264,295  

Financial instruments at amortized cost

     38,008        68,515  

 

^

Value is less than 0.5

(1)

Uncalled capital commitments outstanding as at March 31, 2024 and September 30, 2024, was 1,450 and 1,731, respectively.

(2) 

As at March 31, 2024 and September 30, 2024, short-term mutual funds include units lien with bank on account of margin money for currency derivatives amounting to 218 and 225, respectively.

(3) 

These deposits earn a fixed rate of interest. As at March 31, 2024 and September 30, 2024, term deposits include current deposits in lien with banks, held as margin money deposits against guarantees amounting to 117 and 67, respectively.

8. Inventories

 

     As at  
     March 31, 2024      September 30, 2024  

Stores and spare parts

   27      18  

Traded goods

     880        1,034  
  

 

 

    

 

 

 
   907      1,052  
  

 

 

    

 

 

 

9. Cash and cash equivalents

 

     As at  
     March 31, 2024      September 30, 2024  

Cash and bank balances

   60,648      62,493  

Demand deposits with banks (1)

     36,305        42,099  
  

 

 

    

 

 

 
   96,953      104,592  
  

 

 

    

 

 

 

 

(1)

These deposits can be withdrawn by the Company at any time without prior notice and without any penalty on the principal.

Cash and cash equivalents consist of the following for the purpose of the statement of cash flows:

 

     As at  
     September 30, 2023      September 30, 2024  

Cash and cash equivalents

   97,896      104,592  

Bank overdrafts

     (22      (37
  

 

 

    

 

 

 
   97,874      104,555  
  

 

 

    

 

 

 

 

14


10. Other financial assets

 

     As at  
     March 31, 2024      September 30, 2024  

Non-current

     

Security deposits

   1,221      1,390  

Finance lease receivables

     4,270        3,725  

Dues from officers and employees

     59        33  
  

 

 

    

 

 

 
   5,550      5,148  
  

 

 

    

 

 

 

Current

     

Security deposits

   2,035      1,915  

Dues from officers and employees

     596        370  

Interest receivables

     230        1,041  

Finance lease receivables

     5,307        5,478  

Others

     2,368        169  
  

 

 

    

 

 

 
   10,536      8,973  
  

 

 

    

 

 

 
   16,086      14,121  
  

 

 

    

 

 

 

11. Other assets

 

     As at  
     March 31, 2024      September 30, 2024  

Non-current

     

Prepaid expenses

   3,424      2,595  

Costs to obtain contract (1)

     2,324        3,845  

Costs to fulfil contract (2)

     205        334  

Others

     4,378        970  
  

 

 

    

 

 

 
   10,331      7,744  
  

 

 

    

 

 

 

Current

     

Prepaid expenses

   17,574      19,229  

Dues from officers and employees

     343        452  

Advance to suppliers

     3,267        2,475  

Balance with GST and other authorities

     6,029        6,451  

Costs to obtain contract (1)

     867        1,825  

Costs to fulfil contract (2)

     60        103  

Others

     1,462        2,026  
  

 

 

    

 

 

 
   29,602      32,561  
  

 

 

    

 

 

 
   39,933      40,305  
  

 

 

    

 

 

 

 

(1) 

Costs to obtain contract amortization of 244 and 391 during the three months ended September 30, 2023 and 2024 respectively, 572 and 655 during the six months ended September 30, 2023 and 2024 respectively.

(2) 

Costs to fulfil contract amortization of 15 and 15 during the three months ended September 30, 2023 and 2024 respectively, 30 and 30 during the six months ended September 30, 2023 and 2024 respectively.

12. Loans, borrowings and bank overdrafts

 

     As at  
     March 31, 2024      September 30, 2024  

Non-current

     

Unsecured Notes 2026 (1)

   62,300      62,653  
  

 

 

    

 

 

 
   62,300      62,653  
  

 

 

    

 

 

 

Current

     

Borrowings from banks

   79,164      103,120  

Bank overdrafts

     2        37  
  

 

 

    

 

 

 
   79,166      103,157  
  

 

 

    

 

 

 
   141,466      165,810  
  

 

 

    

 

 

 

 

(1)

On June 23, 2021, Wipro IT Services LLC, a wholly owned step-down subsidiary of Wipro Limited, issued US$ 750 million in unsecured notes 2026 (the “Notes”). The Notes bear interest at a rate of 1.50% per annum and will mature on June 23, 2026. Interest on the Notes is payable semi-annually on June 23 and December 23 of each year, commencing from December 23, 2021. The Notes are listed on Singapore Exchange Securities Trading Limited (SGX-ST).

13. Trade payables and accrued expenses

 

     As at  
     March 31, 2024      September 30, 2024  

Trade payables

   23,275      19,765  

Accrued expenses

     65,291        63,045  
  

 

 

    

 

 

 
   88,566      82,810  
  

 

 

    

 

 

 

 

15


14. Other financial liabilities

 

     As at  
     March 31, 2024      September 30, 2024  

Non-current

     

Contingent consideration (Refer to Note 17)

   429      —   

Liability on written put options to non-controlling interests (Refer to Note 17)

     4,303        4,452  

Deposits and others

     253        1,410  
  

 

 

    

 

 

 
   4,985      5,862  
  

 

 

    

 

 

 

Current

     

Contingent consideration (Refer to Note 17)

   —       253  

Advance from customers

     598        176  

Cash settled ADS RSUs

     3        —   

Capital creditors

     333        798  

Deposits and others

     1,338        1,749  
  

 

 

    

 

 

 
   2,272      2,976  
  

 

 

    

 

 

 
   7,257      8,838  
  

 

 

    

 

 

 

15. Other liabilities

 

     As at  
     March 31, 2024      September 30, 2024  

Non-current

     

Employee benefits obligations

   4,219      4,323  

Others

     8,751        10,500  
  

 

 

    

 

 

 
   12,970      14,823  
  

 

 

    

 

 

 

Current

     

Employee benefits obligations

   16,057      18,236  

Statutory and other liabilities

     13,275        12,232  

Advance from customers

     1,192        495  

Others

     771        1,041  
  

 

 

    

 

 

 
   31,295      32,004  
  

 

 

    

 

 

 
   44,265      46,827  
  

 

 

    

 

 

 

16. Provisions

 

     As at  
     March 31, 2024      September 30, 2024  

Current

     

Provision for onerous contracts

   1,599      1,447  

Provision for warranty

     217        200  

Others

     155        162  
  

 

 

    

 

 

 
   1,971      1,809  
  

 

 

    

 

 

 
   1,971      1,809  
  

 

 

    

 

 

 

17. Financial instruments

The carrying value of financial instruments by categories as at March 31, 2024 is as follows:

 

     Fair value
through profit
or loss
     Fair value through other
comprehensive income
     Amortized cost      Total  
     Mandatory      Designated
upon initial
recognition
 

Financial Assets:

              

Cash and cash equivalents (Refer to Note 9)

   —       —       —       96,953      96,953  

Investments (Refer to Note 7)

              

Equity Instruments

     4,404        —         15,830        —         20,234  

Fixed maturity plan mutual funds

     1,395        —         —         —         1,395  

Short-term mutual funds

     71,686        —         —         —         71,686  

Non-convertible debentures

     —         154,407        —         —         154,407  

Government securities

     —         7,030        —         —         7,030  

Commercial papers

     —         11,845        —         —         11,845  

Bonds

     —         28,195        —         —         28,195  

Inter corporate and term deposits

     —         —         —         38,008        38,008  

Other financial assets

              

Trade receivables

     —         —         —         119,522        119,522  

Unbilled receivables

     —         —         —         58,345        58,345  

Other financial assets (Refer to Note 10)

     —         —         —         16,086        16,086  

Derivative assets (Refer to Note 17)

     390        —         968        —         1,358  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   77,875      201,477      16,798      328,914      625,064  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Financial Liabilities:

              

Trade payables and other liabilities

              

Trade payables and accrued expenses (Refer to Note 13)

   —       —       —       88,566      88,566  

Other financial liabilities (Refer to Note 14)

     —         —         —         7,257        7,257  

Loans, borrowings and bank overdrafts (Refer to Note 12)

     —         —         —         141,466        141,466  

Lease liabilities

     —         —         —         23,183        23,183  

Derivative liabilities (Refer to Note 17)

     329        —         233        —         562  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   329      —       233      260,472      261,034  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

 

16


The carrying value of financial instruments by categories as at September 30, 2024 is as follows:

 

     Fair value
through profit
or loss
     Fair value through other
comprehensive income
     Amortized
cost
     Total  
     Mandatory      Designated
upon initial
recognition
 

Financial Assets:

              

Cash and cash equivalents (Refer to Note 9)

   —       —       —       104,592      104,592  

Investments (Refer to Note 7)

              

Equity Instruments

     4,658        —         16,124        —         20,782  

Fixed maturity plan mutual funds

     1,452        —         —         —         1,452  

Short-term mutual funds

     99,774        —         —         —         99,774  

Non-convertible debentures

     —         211,247        —         —         211,247  

Government securities

     —         13,906        —         —         13,906  

Commercial papers

     —         3,386        —         —         3,386  

Bonds

     —         19,632        —         —         19,632  

Inter corporate and term deposits

     —         —         —         68,515        68,515  

Other financial assets

              

Trade receivables

     —         —         —         113,242        113,242  

Unbilled receivables

     —         —         —         64,776        64,776  

Other financial assets (Refer to Note 10)

     —         —         —         14,121        14,121  

Derivative assets (Refer to Note 17)

     294        —         357        —         651  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   106,178      248,171      16,481      365,246      736,076  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Financial Liabilities:

              

Trade payables and other liabilities

              

Trade payables and accrued expenses (Refer to Note 13)

   —       —       —       82,810      82,810  

Other financial liabilities (Refer to Note 14)

     —         —         —         8,838        8,838  

Loans, borrowings and bank overdrafts (Refer to Note 12)

     —         —         —         165,810        165,810  

Lease liabilities

     —         —         —         27,012        27,012  

Derivative liabilities (Refer to Note 17)

     368        —         697        —         1,065  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   368      —       697      284,470      285,535  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Fair value

Financial assets and liabilities include cash and cash equivalents, trade receivables, unbilled receivables, finance lease receivables, employee and other advances, eligible current and non-current assets, loans, borrowings and bank overdrafts, lease liabilities, trade payables and accrued expenses, and eligible current liabilities and non-current liabilities.

The fair value of cash and cash equivalents, trade receivables, unbilled receivables, short-term loans, borrowings and bank overdrafts, lease liabilities, trade payables and accrued expenses, other current financial assets and liabilities approximate their carrying amount largely due to the short-term nature of these instruments. Finance lease receivables are periodically evaluated based on individual credit worthiness of customers. Based on this evaluation, the Company records allowance for estimated credit losses on these receivables. As at March 31, 2024 and September 30, 2024, the carrying value of such financial assets, net of allowances, and liabilities, approximates the fair value.

The Company’s Unsecured Notes 2026 are contracted at fixed coupon rate of 1.50% and market yield of Unsecured Notes 2026 as of September 30, 2024 is 4.43%

Investments in short-term mutual funds and fixed maturity plan mutual funds, which are classified as FVTPL are measured using net asset values at the reporting date multiplied by the quantity held. Fair value of investments in non-convertible debentures, government securities, commercial papers and bonds classified as FVTOCI is determined based on the indicative quotes of price and yields prevailing in the market at the reporting date. Fair value of investments in equity instruments classified as FVTOCI or FVTPL is determined using market approach primarily based on market multiples method.

The fair value of derivative financial instruments is determined based on observable market inputs including currency spot and forward rates, yield curves and currency volatility.

 

17


Fair value hierarchy

The table below analyses financial instruments carried at fair value, by valuation method. The different levels have been defined as follows:

Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 – Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

There were no transfer between Level 1, 2 and 3 during the year ended March 31, 2024 and six months ended September 30, 2024.

The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:

 

     As at  
     March 31, 2024     September 30, 2024  
     Fair value measurements at reporting date     Fair value measurements at reporting date  
     Total     Level 1      Level 2     Level 3     Total     Level 1      Level 2     Level 3  

Assets

                  

Derivative instruments:

                  

Cash flow hedges

   968     —       968     —      357     —       357     —   

Others

     390       —         390       —        294       —         294       —   

Investments:

                  

Short-term mutual funds

     71,686       71,686        —        —        99,774       99,774        —        —   

Fixed maturity plan mutual funds

     1,395       —         1,395       —        1,452       —         1,452       —   

Equity instruments

     20,234       108        —        20,126       20,782       74        —        20,708  

Non-convertible debentures, government securities, commercial papers, certificate of deposit and bonds

     201,477       1,282        200,195       —        248,171       9,150        239,021       —   

Liabilities

                  

Derivative instruments:

                  

Cash flow hedges

   (233   —       (233   —      (697   —       (697   —   

Others

     (329     —         (329     —        (368     —         (368     —   

Liability on written put options to non-controlling interests

     (4,303     —         —        (4,303     (4,452     —         —        (4,452

Contingent consideration

     (429     —         —        (429     (253     —         —        (253

The following methods and assumptions were used to estimate the fair value of the level 2 financial instruments included in the above table.

 

Financial instrument

  

Method and assumptions

Derivative instruments (assets and liabilities)    The Company enters into derivative financial instruments with various counterparties, primarily banks with investment grade credit ratings. Derivatives valued using valuation techniques with market observable inputs are mainly interest rate swaps, foreign exchange forward contracts and foreign exchange option contracts. The most frequently applied valuation techniques include forward pricing, swap models and Black Scholes models (for option valuation), using present value calculations. The models incorporate various inputs including the credit quality of counterparties, foreign exchange spot and forward rates, interest rate curves and forward rate curves of the underlying. As at September 30, 2024, the changes in counterparty credit risk had no material effect on the hedge effectiveness assessment for derivatives designated in hedge relationships and other financial instruments recognized at fair value.
Investment in non-convertible debentures, government securities, commercial papers, certificate of deposits and bonds    Fair value of these instruments is derived based on the indicative quotes of price and yields prevailing in the market as at reporting date.
Investment in fixed maturity plan mutual funds    Fair value of these instruments is derived based on the indicative quotes of price prevailing in the market as at reporting date.

 

18


The following methods and assumptions were used to estimate the fair value of the level 3 financial instruments included in the above table.

 

Financial instrument

  

Method and assumptions

Investment in equity instruments    Fair value of these instruments is determined using market approach primarily based on market multiples method.
Contingent consideration and liability on written put options to non-controlling interest    Fair value of these instruments is determined using valuation techniques which includes inputs relating to risk-adjusted revenue and operating profit forecast.

The following table presents changes in Level 3 assets and liabilities for the year ended March 31, 2024 and six months ended September 30, 2024:

 

     As at  
Investment in equity instruments    March 31, 2024      September 30, 2024  

Balance at the beginning of the period

   19,321      20,126  

Additions

     1,277        913  

Disposals (1) (2)

     (416      (488

Gain/(loss) recognized in consolidated statement of income

     (136      232  

Gain/(loss) recognized in other comprehensive income

     (485      (171

Translation adjustment

     565        96  
  

 

 

    

 

 

 

Balance at the end of the period

   20,126      20,708  
  

 

 

    

 

 

 

 

(1) 

During the year ended March 31, 2024, the Company sold its shares in Moogsoft (Herd) Inc. at a fair value of 179 and recognized a cumulative loss of 91 in other comprehensive income.

(2) 

During the six months ended September 30, 2024, the Company sold its shares in Headspin Inc. and Sealights Technologies Ltd at a fair value of 397 and recognized a cumulative loss of 185 in other comprehensive income and cumulative gain of 58 in the consolidated statement of income.

 

     As at  
Contingent consideration    March 31, 2024      September 30, 2024  

Balance at the beginning of the period

   (3,053    (429

Reversals (1)

     1,300        167  

Payouts

     1,294        —   

Finance expense (recognized)/reversed in consolidated statement of income

     55        11  

Translation adjustment

     (25      (2
  

 

 

    

 

 

 

Balance at the end of the period

   (429    (253
  

 

 

    

 

 

 

 

(1)

Towards change in fair value of earn-out liability as a result of changes in estimates of revenue and earnings over the earn-out period.

 

     As at  
Liability on written put options to non-controlling interests    March 31, 2024      September 30, 2024  

Balance at the beginning of the period

   —       (4,303

Addition through Business combination

     (4,238      —   

Finance expense recognized in consolidated statement of income

     (33      (128

Translation adjustment

     (32      (21
  

 

 

    

 

 

 

Balance at the end of the period

   (4,303    (4,452
  

 

 

    

 

 

 

Derivative assets and liabilities

The Company is exposed to currency fluctuations on foreign currency assets / liabilities, forecasted cash flows denominated in foreign currency and net investment in foreign operations. The Company is also exposed to interest rate fluctuations on investments in floating rate financial assets and floating rate borrowings. The Company follows established risk management policies, including the use of derivatives to hedge foreign currency assets / liabilities, interest rates, foreign currency forecasted cash flows and net investment in foreign operations. The counter parties in these derivative instruments are primarily banks and the Company considers the risks of non-performance by the counterparty as immaterial.

 

19


The Company determines the existence of an economic relationship between the hedging instrument and the hedged item based on the currency, amount and timing of its forecasted cash flows. Hedge effectiveness is determined at the inception of the hedge relationship, and through periodic prospective effectiveness assessments to ensure that an economic relationship exists between the hedged item and hedging instrument, including whether the hedging instrument is expected to offset changes in cash flows of hedged items.

If the hedge ratio for risk management purposes is no longer optimal but the risk management objective remains unchanged and the hedge continues to qualify for hedge accounting, the hedge relationship will be rebalanced by adjusting either the volume of the hedging instrument or the volume of the hedged item so that the hedge ratio aligns with the ratio used for risk management purposes. Any hedge ineffectiveness is calculated and accounted for in consolidated statement of income at the time of the hedge relationship rebalancing.

The following table summarizes activity in the cash flow hedging reserve within equity related to all derivative instruments classified as cash flow hedges:

 

     Six months ended September 30,  
     2023      2024  

Balance as at the beginning of the period

   (1,762    773  

Changes in fair value of effective portion of derivatives

     1,204        (889

Deferred cancellation gain/(loss), net

     12        —   

Net (gain)/loss reclassified to consolidated statement of income on occurrence of hedged transactions (1)

     1,488        (276

Net (gain)/loss on ineffective portion of derivative instruments classified to consolidated statement of income

     (86      50  
  

 

 

    

 

 

 

Gain/(loss) on cash flow hedging derivatives, net

   2,618      (1,115
  

 

 

    

 

 

 

Balance as at the end of the period

   856      (342

Deferred tax asset/(liability) thereon

     (221      83  
  

 

 

    

 

 

 

Balance as at the end of the period, net of deferred taxes

   635      (259
  

 

 

    

 

 

 

 

(1) 

Includes net (gain)/loss reclassified to revenue of (178); net (gain)/loss reclassified to cost of revenues of (22); net (gain)/loss reclassified to finance expenses of (116), and net (gain)/loss reclassified to finance and other income of 40 for the six months ended September 30, 2024.

The related hedge transactions for balance in cash flow hedging reserves as at September 30, 2024 are expected to occur and be reclassified to the statement of income over a period of 23 months.

As at September 30, 2023 and 2024, there were no material gains or losses on derivative transactions or portions thereof that have become ineffective as hedges or associated with an underlying exposure that did not occur.

18. Foreign currency translation reserve and Other reserves

The movement in foreign currency translation reserve attributable to equity holders of the Company is summarized below:

 

     Six months ended September 30,  
     2023      2024  

Balance at the beginning of the period

   43,255      47,261  

Translation difference related to foreign operations, net

     1,452        3,708  

Reclassification of foreign currency translation differences on liquidation of

     (181      13  

subsidiaries to statement of income

     
  

 

 

    

 

 

 

Balance at the end of the period

   44,526      50,982  
  

 

 

    

 

 

 

The movement in other reserves is summarized below:

 

     Other Reserves  

Particulars

   Remeasurements of
the defined benefit
plans
    Investment in debt
instruments
measured at fair
value through OCI
    Investment in equity
instruments
measured at fair
value through OCI
    Capital Redemption
Reserve
     Gross obligation to
non-controlling
interests under
put options
 

As at April 1, 2023

   (548   (119   10,793     1,122      —   

Other comprehensive income

     108       1,336       (108     —         —   

Buyback of equity shares

     —        —        —        539        —   

As at September 30, 2023

   (440   1,217     10,685     1,661      —   

As at April 1, 2024

   (286   1,397     10,320     1,661      (4,238

Other comprehensive income

     395       574       (166     —         —   

As at September 30, 2024

   109     1,971     10,154     1,661      (4,238

 

20


19. Income taxes

 

     Three months ended September 30,      Six months ended September 30,  
     2023      2024      2023      2024  

Income tax expense as per the consolidated statement of income

   8,419      10,512      17,534      20,362  

Income tax included in other comprehensive income on:

           

Gains/(losses) on investment securities

     34        65        196        102  

Gains/(losses) on cash flow hedging derivatives

     (46      (400      580        (278

Remeasurements of the defined benefit plans

     10        107        43        169  
  

 

 

    

 

 

    

 

 

    

 

 

 
   8,417      10,284      18,353      20,355  
  

 

 

    

 

 

    

 

 

    

 

 

 

Income tax expense consists of the following:

 

     Three months ended September 30,      Six months ended September 30,  
     2023      2024      2023      2024  

Current taxes

   9,286      11,152      18,421      21,520  

Deferred taxes

     (867      (640      (887      (1,158
  

 

 

    

 

 

    

 

 

    

 

 

 
   8,419      10,512      17,534      20,362  
  

 

 

    

 

 

    

 

 

    

 

 

 

Income tax expenses are net of provision reversal of taxes pertaining to earlier periods, amounting to 109 and 608 for the three months ended September 30, 2023 and 2024, and 736 and 802 for the six months ended September 30, 2023 and 2024, respectively.

20. Revenues

The tables below present disaggregated revenue from contracts with customers by business segment (Refer to Note 27 “Segment Information”), sector and nature of contract. The Company believes that the below disaggregation best depicts the nature, amount, timing and uncertainty of revenue and cash flows from economic factors.

 

21


Information on disaggregation of revenues for the three months ended September 30, 2023 is as follows:

 

     IT Services      IT Products      Total  
     Americas 1      Americas 2      Europe      APMEA      Total  

A. Revenue

                    

Rendering of services

   66,735      66,837      63,892      26,226      223,690      —       223,690  

Sale of products

     —         —         —         —         —         1,469        1,469  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   66,735      66,837      63,892      26,226      223,690      1,469      225,159  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

B. Revenue by sector

                    

Banking, Financial Services and Insurance

   676      41,155      24,408      8,886      75,125        

Health

     22,813        26        4,281        1,347        28,467        

Consumer

     25,503        1,220        10,782        4,251        41,756        

Communications

     3,065        314        2,953        3,323        9,655        

Energy, Natural Resources and Utilities

     193        10,232        9,993        5,466        25,884        

Manufacturing

     17        7,937        6,619        1,085        15,658        

Technology

     14,468        5,953        4,856        1,868        27,145        
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   66,735      66,837      63,892      26,226      223,690      1,469      225,159  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

C. Revenue by nature of contract

                    

Fixed price and volume based

   37,936      34,331      36,929      15,770      124,966      —       124,966  

Time and materials

     28,799        32,506        26,963        10,456        98,724        —         98,724  

Products

     —         —         —         —         —         1,469        1,469  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   66,735      66,837      63,892      26,226      223,690      1,469      225,159  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Information on disaggregation of revenues for the three months ended September 30, 2024 is as follows:

 

     IT Services      IT
Products
     Total  
     Americas 1      Americas 2      Europe      APMEA      Total  

A. Revenue

                    

Rendering of services

   68,502      68,048      61,943      23,860      222,353      —       222,353  

Sale of products

     —         —         —         —         —         663        663  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   68,502      68,048      61,943      23,860      222,353      663      223,016  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

B. Revenue by sector

                    

Banking, Financial Services and Insurance

   238      43,195      24,151      9,856      77,440        

Health

     25,973        26        3,742        590        30,331        

Consumer

     25,781        1,918        10,905        3,905        42,509        

Communications

     3,078        208        2,913        2,510        8,709        

Energy, Natural Resources and Utilities

     821        9,736        8,885        4,514        23,956        

Manufacturing

     12        6,894        5,928        992        13,826        

Technology

     12,599        6,071        5,419        1,493        25,582        
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   68,502      68,048      61,943      23,860      222,353      663      223,016  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

C. Revenue by nature of contract

                    

Fixed price and volume based

   34,859      34,101      36,570      13,875      119,405      —       119,405  

Time and materials

     33,643        33,947        25,373        9,985        102,948        —         102,948  

Products

     —         —         —         —         —         663        663  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   68,502      68,048      61,943      23,860      222,353      663      223,016  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

22


Information on disaggregation of revenues for the six months ended September 30, 2023 is as follows:

 

     IT Services      IT Products      Total  
     Americas 1      Americas 2      Europe      APMEA      Total  

A. Revenue

                    

Rendering of services

   132,357      135,158      131,047      52,744      451,306      —       451,306  

Sale of products

     —         —         —         —         —         2,163        2,163  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   132,357      135,158      131,047      52,744      451,306      2,163      453,469  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

B. Revenue by sector

                    

Banking, Financial Services and Insurance

   1,460      83,170      49,930      17,927      152,487        

Health

     44,540        111        9,104        2,597        56,352        

Consumer

     51,858        2,334        21,581        8,520        84,293        

Communications

     6,551        661        6,076        6,785        20,073        

Energy, Natural Resources and Utilities

     299        20,526        21,104        11,311        53,240        

Manufacturing

     64        16,421        13,512        2,123        32,120        

Technology

     27,585        11,935        9,740        3,481        52,741        
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   132,357      135,158      131,047      52,744      451,306      2,163      453,469  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

C. Revenue by nature of contract

                    

Fixed price and volume based

   75,460      69,781      76,652      31,712      253,605      —       253,605  

Time and material

     56,897        65,377        54,395        21,032        197,701        —         197,701  

Products

     —         —         —         —         —         2,163        2,163  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   132,357      135,158      131,047      52,744      451,306      2,163      453,469  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Information on disaggregation of revenues for the six months ended September 30, 2024 is as follows:

 

     IT Services      IT Products      Total  
     Americas 1      Americas 2      Europe      APMEA      Total  

A. Revenue

                    

Rendering of services

   136,264      135,450      122,421      47,387      441,522      —       441,522  

Sale of products

     —         —         —         —         —         1,132        1,132  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   136,264      135,450      122,421      47,387      441,522      1,132      442,654  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

B. Revenue by sector

                    

Banking, Financial Services and Insurance

   671      85,081      47,199      18,835      151,786        

Health

     51,538        48        7,583        1,583        60,752        

Consumer

     51,402        3,780        21,614        7,853        84,649        

Communications

     6,077        416        5,223        5,303        17,019        

Energy, Natural Resources and Utilities

     1,488        19,843        18,237        8,968        48,536        

Manufacturing

     26        14,138        11,923        1,934        28,021        

Technology

     25,062        12,144        10,642        2,911        50,759        
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   136,264      135,450      122,421      47,387      441,522      1,132      442,654  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

C. Revenue by nature of contract

                    

Fixed price and volume based

   70,829      68,679      72,546      27,549      239,603      —       239,603  

Time and materials

     65,435        66,771        49,875        19,838        201,919        —         201,919  

Products

     —         —         —         —         —         1,132        1,132  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   136,264      135,450      122,421      47,387      441,522      1,132      442,654  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

23


21. Expenses by nature 

 

     Three months ended September 30,      Six months ended September 30,  
     2023      2024      2023      2024  

Employee compensation

   138,536      134,695      278,812      266,988  

Sub-contracting and technical fees

     26,547        24,582        52,932        49,349  

Cost of hardware and software

     1,501        893        2,307        1,551  

Travel

     4,049        3,836        8,224        7,773  

Facility expenses

     3,815        3,937        7,267        8,070  

Software license expense for internal use

     4,701        4,702        9,308        9,307  

Depreciation, amortization and impairment (1)

     8,970        8,308        16,350        15,597  

Communication

     1,360        1,079        2,609        2,072  

Legal and professional fees

     2,507        3,013        4,758        5,295  

Rates, taxes and insurance

     1,641        1,395        3,103        2,611  

Marketing and brand building

     880        838        1,857        1,642  

Lifetime expected credit loss/ (write-back)

     139        593        439        567  

(Gain)/loss on sale of property, plant and equipment, net (2)

     (2,320      (820      (2,242      (843

Miscellaneous expenses (3)

     (244      (1,580      90        (1,145
  

 

 

    

 

 

    

 

 

    

 

 

 

Total cost of revenues, selling and marketing expenses and general and administrative expenses

   192,082      185,471      385,814      368,834  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) 

Depreciation, amortization and impairment includes an impairment charge on intangible assets amounting to 437 and 1,147 for the three and six months ended September 30, 2023 and 2024, respectively (Refer to Note 6).

(2) 

(Gain)/loss on sale of property, plant and equipment for the three and six months ended September 30, 2023 and 2024, includes gain on sale of immovable properties of (2,368) and gain on relinquishment of the lease hold rights of land, and transfer of building along with other assets of (885), respectively.

(3) 

Miscellaneous expenses are net of reversals of contingent consideration of 490 and 167 for the three months ended September 30, 2023 and 2024, respectively and of 506 and 167 for the six months ended September 30, 2023 and 2024, respectively (Refer to Note 17). Miscellaneous expenses are net of insurance claim received of 1,805 during the three and six months ended September 30, 2024.

22. Finance expenses 

 

     Three months ended September 30,      Six months ended September 30,  
     2023      2024      2023      2024  

Interest expense (1)

   3,033      3,569      6,119      6,857  
  

 

 

    

 

 

    

 

 

    

 

 

 
   3,033      3,569      6,119      6,857  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) 

Includes Interest expense on lease liabilities of 336 and 384 for the three months ended September 30, 2023 and 2024, respectively and 652 and 747 for the six months ended September 30, 2023, and 2024, respectively.

23. Finance and other income and Foreign exchange gains/(losses), net 

 

     Three months ended September 30,      Six months ended September 30,  
     2023      2024      2023      2024  

Interest income

   4,158      6,576      9,402      12,203  

Dividend income from equity investments designated as

           

FVTOCI

     1        1        2        1  

Net gain from investments classified as FVTPL

     737        2,618        2,073        4,471  

Net loss from investments classified as FVTOCI

     (86      —         (125      —   
  

 

 

    

 

 

    

 

 

    

 

 

 

Finance and other income

   4,810      9,195      11,352      16,675  
  

 

 

    

 

 

    

 

 

    

 

 

 

Foreign exchange gains/(losses), net, on financial instruments measured at FVTPL

   (350    (368    531      (553

Other foreign exchange gains/(losses), net

     618        (28      (325      (49
  

 

 

    

 

 

    

 

 

    

 

 

 

Foreign exchange gains/(losses), net

   268      (396    206      (602
  

 

 

    

 

 

    

 

 

    

 

 

 

 

24


24. Earnings per equity share

A reconciliation of profit for the period and equity shares used in the computation of basic and diluted earnings per equity share is set out below:

Basic: Basic earnings per equity share is calculated by dividing the profit attributable to equity shareholders of the Company by the weighted average number of equity shares outstanding during the period, excluding equity shares purchased by the Company and held as treasury shares.

 

     Three months ended September 30,      Six months ended September 30,  
     2023      2024      2023      2024  

Profit attributable to equity holders of the Company

   26,463      32,088      55,164      62,120  

Weighted average number of equity shares outstanding

     5,232,867,366        5,226,755,635        5,357,394,940        5,226,444,619  
  

 

 

    

 

 

    

 

 

    

 

 

 

Basic earnings per equity share

   5.06      6.14      10.30      11.89  
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted: Diluted earnings per equity share is calculated by adjusting the weighted average number of equity shares outstanding during the period for assumed conversion of all dilutive potential equity shares. Employee share options are dilutive potential equity shares for the Company.

The calculation is performed in respect of share options to determine the number of equity shares that could have been acquired at fair value (determined as the average market price of the Company’s equity shares during the period). The number of equity shares calculated as above is compared with the number of equity shares that would have been issued assuming the exercise of the share options.

 

     Three months ended September 30,      Six months ended September 30,  
     2023      2024      2023      2024  

Profit attributable to equity holders of the Company

   26,463      32,088      55,164      62,120  

Weighted average number of equity shares outstanding

     5,232,867,366        5,226,755,635        5,357,394,940        5,226,444,619  

Effect of dilutive equivalent share options

     12,773,832        14,323,302        12,683,623        13,441,789  
  

 

 

    

 

 

    

 

 

    

 

 

 

Weighted average number of equity shares for diluted earnings per equity share

     5,245,641,198        5,241,078,937        5,370,078,563        5,239,886,408  
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted earnings per equity share

   5.04      6.12      10.27      11.85  
  

 

 

    

 

 

    

 

 

    

 

 

 

Earnings per share for each of the three months ended June 30, 2023 and September 30, 2023 will not add up to earnings per share for the six months ended September 30, 2023, on account of buyback of equity shares.

25. Employee compensation

 

     Three months ended September 30,      Six months ended September 30,  
     2023      2024      2023      2024  

Salaries and bonus

   132,179      128,528      265,979      254,656  

Employee benefits plans

     4,794        4,861        9,726        9,697  

Share-based compensation (1)

     1,563        1,306        3,107        2,635  
  

 

 

    

 

 

    

 

 

    

 

 

 
   138,536      134,695      278,812      266,988  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1)

Includes 8 and (5) for the six months ended September 30, 2023 and 2024 respectively, towards cash settled ADS RSUs.

The employee benefit cost is recognized in the following line items in the interim condensed consolidated statement of income:

 

     Three months ended September 30,      Six months ended September 30,  
     2023      2024      2023      2024  

Cost of revenues

   114,844      113,949      232,577      226,120  

Selling and marketing expenses

     12,996        12,412        25,608        24,376  

General and administrative expenses

     10,696        8,334        20,627        16,492  
  

 

 

    

 

 

    

 

 

    

 

 

 
   138,536      134,695      278,812      266,988  
  

 

 

    

 

 

    

 

 

    

 

 

 

The Company has granted 3,731 and 3,345,406 options under RSU option plan during the three and six months ended September 30, 2024, respectively (56,015 and 3,273,900 for the three and six months ended September 30, 2023, respectively); 228,413 and 8,395,500 options under ADS option plan during the three and six months ended September 30, 2024, respectively (292,127 and 8,353,252 for the three and six months ended September 30, 2023, respectively).

The Company has also granted Nil and 2,014,993 Performance based stock options (RSU) during the three and six months ended September 30, 2024, respectively (Nil and 1,892,498 for the three and six months ended September 30, 2023, respectively); Nil and 5,297,557 Performance based stock options (ADS) during the three and six months ended September 30, 2024, respectively (Nil and 5,648,833 for the three and six months ended September 30, 2023, respectively).

The RSU grants were issued under Wipro Employee Restricted Stock Unit plan 2007 (WSRUP 2007 plan) and the ADS grants were issued under Wipro ADS Restricted Stock Unit Plan (WARSUP 2004 plan). Performance based stock options will vest based on the performance parameters of the Company.

 

25


26. Commitments and contingencies

Capital commitments: As at March 31, 2024 and September 30, 2024 the Company had committed to spend approximately  10,322 and  8,166 respectively, under agreements to purchase/ construct property and equipment. These amounts are net of capital advances paid in respect of these purchases. Refer to Note 7 for uncalled capital commitments on investment in equity instruments.

Guarantees: As at March 31, 2024 and September 30, 2024, guarantees provided by banks on behalf of the Company to the Indian Government, customers and certain other agencies aggregate to  13,455 and  13,163 respectively, as part of the bank line of credit.

Contingencies and lawsuits: The Company is subject to legal proceedings and claims resulting from tax assessment orders/ penalty notices issued under the Income Tax Act, 1961, which have arisen in the ordinary course of its business. Some of the claims involve complex issues and it is not possible to make a reasonable estimate of the expected financial effect, if any, that will result from ultimate resolution of such proceedings. However, the resolution of these legal proceedings is not likely to have a material and adverse effect on the results of operations or the financial position of the Company.

The Company’s assessments are completed for the years up to March 31, 2019. The Company has received demands on multiple tax issues. These claims are primarily arising out of denial of deduction under section 10A of the Income Tax Act, 1961 in respect of profit earned by the Company’s undertaking in Software Technology Park at Bengaluru, the appeals filed against the said demand before the Appellate authorities have been allowed in favor of the Company by the second appellate authority for the years up to March 31, 2008 which either has been or may be contested by the Income tax authorities before the Hon’ble Supreme Court of India. Other claims relate to disallowance of tax benefits on profits earned from Software Technology Park and Special Economic Zone units, capitalization of research and development expenses, transfer pricing adjustments on intercompany / inter unit transactions and other issues.

Income tax claims against the Company amounting to  95,520 and  97,903 are not acknowledged as debt as at March 31, 2024 and September 30, 2024, respectively. These matters are pending before various Appellate Authorities and the management expects its position will likely be upheld on ultimate resolution and will not have a material adverse effect on the Company’s financial position and results of operations.

The contingent liability in respect of disputed demands for excise duty, custom duty, sales tax and other matters amounting to  18,799 and  19,440 as of March 31, 2024, and September 30, 2024, respectively. However, the resolution of these disputed demands is not likely to have a material and adverse effect on the results of operations or the financial position of the Company.

27. Segment information

The Company is organized into the following operating segments: IT Services and IT Products.

IT Services: The IT Services segment primarily consists of IT services offerings to customers organized by four Strategic Market Units (“SMUs”) - Americas 1, Americas 2, Europe and Asia Pacific Middle East and Africa (“APMEA”). Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries.

Americas 1 includes the entire business of Latin America (“LATAM”) and the following industry sectors in the United States of America: communications, media and information services, software and gaming, new age technology, consumer goods, medical devices and life sciences, healthcare, and technology products and services. Americas 2 includes the entire business in Canada and the following industry sectors in the United States of America: banking and financial services, energy, manufacturing and resources, capital markets and insurance, and hi-tech. Europe consists of the United Kingdom and Ireland, Switzerland, Germany, Northern Europe and Southern Europe. APMEA consists of Australia and New Zealand, India, Middle East, South East Asia, Japan and Africa.

Revenue from each customer is attributed to the respective SMUs based on the location of the customer’s primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer’s buying centers, but the total revenue related to these strategic global customers are attributed to a single SMU based on the geographical location of key decision makers.

Our IT Services segment provides a range of IT and IT enabled services which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure services, business process services, cloud, mobility and analytics services, research and development and hardware and software design.

IT Products: The Company is a value-added reseller of security, packaged and SaaS software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to these items is reported as revenue from the sale of IT Products.

The Chief Executive Officer (“CEO”) and Managing Director of the Company has been identified as the Chief Operating Decision Maker as defined by IFRS 8, “Operating Segments”. The CEO of the Company evaluates the segments based on their revenue growth and operating income.

Assets and liabilities used in the Company’s business are not identified to any of the operating segments, as these are used interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.

 

26


Information on reportable segments for the three months ended September 30, 2023, is as follows:

 

     IT Services     IT Products     Reconciling
Items
    Total  
   Americas 1      Americas 2      Europe      APMEA      Total  

Revenue

   66,813      66,914      63,976      26,255      223,958     1,469     —      225,427  

Segment result

     15,287        14,023        7,547        2,985        39,842       (467     (2,246     37,129  

Unallocated

                 (3,784     —        —        (3,784
              

 

 

   

 

 

   

 

 

   

 

 

 

Segment result total

               36,058     (467   (2,246   33,345  

Finance expenses

                       (3,033

Finance and other income

                       4,810  

Share of net profit/(loss) of associate accounted for using the equity method

                       (30
                    

 

 

 

Profit before tax

                     35,092  

Income tax expense

                       (8,419
                    

 

 

 

Profit for the period

                     26,673  
                    

 

 

 

Depreciation, amortization and impairment

                     8,970  
                    

 

 

 

Information on reportable segments for the three months ended September 30, 2024, is as follows: 

 

     IT Services     IT Products     Reconciling
Items
     Total  
   Americas 1      Americas 2      Europe      APMEA      Total  

Revenue

   68,393      67,932      61,821      23,811      221,957     663     —       222,620  

Segment result

     13,338        15,005        7,821        3,070        39,234       (183     10        39,061  

Unallocated

                 (1,912     —        —         (1,912
              

 

 

   

 

 

   

 

 

    

 

 

 

Segment result total

               37,322     (183   10      37,149  

Finance expenses

                        (3,569

Finance and other income

                        9,195  

Share of net profit/(loss) of associate and joint venture accounted for using the equity method

                        3  
                     

 

 

 

Profit before tax

                      42,778  

Income tax expense

                        (10,512
                     

 

 

 

Profit for the period

                      32,266  
                     

 

 

 

Depreciation, amortization and impairment

                      8,308  
                     

 

 

 

 

27


Information on reportable segments for the six months ended September 30, 2023, is as follows:

 

     IT Services     IT Products     Reconciling
Items
    Total  
   Americas 1      Americas 2      Europe      APMEA      Total  

Revenue

    132,420       135,217       131,110      52,765      451,512     2,163     —      453,675  

Segment result

     28,824        28,192        17,515        5,785        80,316       (628     (4,086     75,602  

Unallocated

                 (7,741     —        —        (7,741
              

 

 

   

 

 

   

 

 

   

 

 

 

Segment result total

               72,575     (628   (4,086   67,861  

Finance expense

                       (6,119

Finance and other income

                       11,352  

Share of net profit/(loss) of associates accounted for using the equity method

                       (27
                    

 

 

 

Profit before tax

                     73,067  

Income tax expense

                       (17,534
                    

 

 

 

Profit for the period

                     55,533  
                    

 

 

 

Depreciation, amortization and impairment

                     16,350  
                    

 

 

 

Information on reportable segments for the six months ended September 30, 2024, is as follows:

 

     IT Services     IT Products     Reconciling
Items
     Total  
   Americas 1      Americas 2      Europe      APMEA      Total  

Revenue

   136,093      135,270      122,243      47,314      440,920     1,132     —       442,052  

Segment result

     27,025        30,538        13,694        5,511        76,768       (230     69        76,607  

Unallocated

                 (3,389     —        —         (3,389
              

 

 

   

 

 

   

 

 

    

 

 

 

Segment result total

               73,379     (230   69      73,218  

Finance expense

                        (6,857

Finance and other income

                        16,675  

Share of net profit/(loss) of associate and joint venture accounted for using the equity method

                        (42
                     

 

 

 

Profit before tax

                      82,994  

Income tax expense

                        (20,362
                     

 

 

 

Profit for the period

                      62,632  
                     

 

 

 

Depreciation, amortization and impairment

                      15,597  
                     

 

 

 

 

28


Revenues from India, being Company’s country of domicile, is  6,039 and  5,194 for the three months ended September 30, 2023 and 2024, respectively and  12,046 and  10,117 for the six months ended September 30, 2023, and 2024, respectively.

Revenues from United States of America and United Kingdom contributed more than 10% of Company’s total revenues as per table below:

 

     Three months ended September 30,      Six months ended September 30,  
     2023      2024      2023      2024  

United States of America

   128,301      130,241      254,798      259,674  

United Kingdom

     27,455        24,235        57,218        49,341  
  

 

 

    

 

 

    

 

 

    

 

 

 
     155,756      154,476      312,016      309,015  
  

 

 

    

 

 

    

 

 

    

 

 

 

No customer individually accounted for more than 10% of the revenues during the three and six months ended September 30, 2023 and 2024.

Management believes that it is currently not practicable to provide disclosure of geographical location wise assets, since the meaningful segregation of the available information is onerous.

Notes:

  a)

“Reconciling Items” includes elimination of inter-segment transactions and other corporate activities.

 

  b)

Revenue from sale of Company owned intellectual properties is reported as part of IT Services revenues.

 

  c)

For the purpose of segment reporting, the Company has included the impact of “foreign exchange gains/(losses), net” in revenues, which is reported as a part of operating profit in the interim condensed consolidated statement of income.

 

  d)

Restructuring cost of  2,249 and  4,136 for the three and six months ended September 30, 2023, respectively is included under Reconciling items.

 

  e)

“Unallocated” within IT Services segment results is after recognition of amortization and impairment expense on intangible assets of  3,484 and  2,919, for the three months ended September 30, 2023 and 2024, respectively and of  5,294 and  4,701 for the six months ended September 30, 2023 and 2024, respectively and change in fair value of contingent consideration of  (490) and  (167), for the three months ended September 30, 2023 and 2024, respectively and of  (506) and  (167) for the six months ended September 30, 2023 and 2024, respectively.

Segment results of IT Services segment for the three and six months ended September 30, 2023 are after considering additional amortization due to change in estimate of useful life of the customer-related intangibles in an earlier Business combination. (Refer to Note 6)

 

  f)

Segment results of IT Services segment are after recognition of share-based compensation expense of  1,563 and  1,306 for the three months ended September 30, 2023 and 2024, respectively and  3,107 and  2,635 for the six months ended September 30, 2023 and 2024 respectively.

 

  g)

Segment results of IT Services segment are after recognition of (gain)/loss on sale of property, plant and equipment of  (2,320) and  (820) for the three months ended September 30, 2023 and 2024, respectively and  (2,242) and  (843) for the six months ended September 30, 2023 and 2024 respectively.

28. List of subsidiaries, associate and joint venture as at September 30, 2024 is provided below:

 

Subsidiaries

 

Subsidiaries

 

Subsidiaries

 

Country of

Incorporation

Attune Consulting India Private Limited       India
Capco Technologies Private Limited       India
Wipro Technology Product Services Private Limited       India
Wipro Chengdu Limited       China
Wipro Holdings (UK) Limited       U.K.
Wipro HR Services India Private Limited       India
Wipro IT Services Bangladesh Limited       Bangladesh
Wipro IT Services UK Societas       U.K.
  Designit A/S     Denmark
    Designit Denmark A/S   Denmark
    Designit Germany GmbH   Germany
    Designit Oslo A/S   Norway
    Designit Spain Digital, S.L.U   Spain
    Designit Sweden AB   Sweden
    Designit T.L.V Ltd.   Israel
  Wipro Bahrain Limited Co. W.L.L     Bahrain
  Wipro Czech Republic IT Services s.r.o.     Czech Republic
  Wipro CRM Services (formerly known as Wipro 4C NV)     Belgium

 

29


    Wipro 4C Consulting France SAS   France
    Wipro CRM Services B.V. (formerly known as Wipro 4C Nederland B.V)   Netherlands
    Wipro CRM Services ApS   Denmark
    Wipro CRM Services UK Limited   U.K.
  Grove Holdings 2 S.á.r.l     Luxembourg
    Capco Solution Services GmbH   Germany
    The Capital Markets Company Italy Srl   Italy
    Capco Brasil Serviços E Consultoria Ltda   Brazil
    The Capital Markets Company BV (1)   Belgium
  PT. WT Indonesia     Indonesia
  Rainbow Software LLC     Iraq
  Wipro Arabia Limited (2)     Saudi Arabia
    Women’s Business Park Technologies Limited (2)   Saudi Arabia
  Wipro Doha LLC     Qatar
  Wipro Financial Outsourcing Services Limited     U.K.
    Wipro UK Limited   U.K.
  Wipro Gulf LLC     Sultanate of
      Oman
  Wipro Holdings Hungary Korlátolt Felelősségű Társaság     Hungary
    Wipro Holdings Investment Korlátolt Felelősségű Társaság   Hungary
  Wipro Information Technology Netherlands BV.     Netherlands
    Wipro do Brasil Technologia Ltda (1)   Brazil
    Wipro Information Technology Kazakhstan LLP   Kazakhstan
    Wipro Outsourcing Services (Ireland) Limited   Ireland
    Wipro Portugal S.A. (1)   Portugal
    Wipro Solutions Canada Limited   Canada
    Wipro Technologies Limited   Russia
    Wipro Technologies Peru SAC   Peru
    Wipro Technologies W.T. Sociedad Anonima   Costa Rica
    Wipro Technology Chile SPA   Chile
  Wipro IT Service Ukraine, LLC     Ukraine
  Wipro IT Services Poland SP Z.O.O     Poland
  Wipro IT Services S.R.L.     Romania
  Wipro Regional Headquarter     Saudi Arabia
  Wipro Technologies Australia Pty Ltd   Wipro Ampion Holdings Pty Ltd (1)   Australia
      Australia
  Wipro Technologies SA     Argentina
  Wipro Technologies SA DE CV     Mexico
  Wipro Technologies South Africa (Proprietary) Limited     South Africa
    Wipro Technologies Nigeria Limited   Nigeria
  Wipro Technologies SRL     Romania
  Wipro (Thailand) Co. Limited     Thailand
Wipro Japan KK       Japan
Wipro Networks Pte Limited       Singapore
  Wipro (Dalian) Limited     China
  Wipro Technologies SDN BHD     Malaysia
Wipro Overseas IT Services Private Limited       India
Wipro Philippines, Inc.       Philippines
Wipro Shanghai Limited       China
Wipro Trademarks Holding Limited       India
Wipro Travel Services Limited       India
Wipro VLSI Design Services       India
India Private Limited      
Wipro, LLC       USA
  Wipro Gallagher Solutions, LLC     USA
  Wipro Insurance Solutions, LLC     USA

 

30


  Wipro IT Services, LLC   Aggne Global Inc. (3)   USA
    USA
    Cardinal US Holdings, Inc.(1)   USA
    Edgile, LLC   USA
    HealthPlan Services, Inc. (1)   USA
    Infocrossing, LLC   USA
    International TechneGroup Incorporated (1)   USA
    Wipro NextGen Enterprise Inc. (1)   USA
    Rizing Intermediate Holdings, Inc. (1)   USA
    Wipro Appirio, Inc. (1)   USA
    Wipro Designit Services, Inc. (1)   USA
    Wipro Telecom Consulting LLC   USA
    Wipro VLSI Design Services, LLC   USA
Aggne Global IT Services Private Limited (3)       India
Wipro, Inc.(4)       USA

The Company controls ‘The Wipro SA Broad Based Ownership Scheme Trust’, ‘Wipro SA Broad Based Ownership Scheme SPV (RF) (PTY) LTD’ incorporated in South Africa and Wipro Foundation in India.

 

(2)

All the above direct subsidiaries are 100% held by the Company except that the Company holds 66.67% of the equity securities of Wipro Arabia Limited and 55% of the equity securities of Women’s Business Park Technologies Limited are held by Wipro Arabia Limited.

 

(3) 

The company holds 60% of the equity securities of Aggne Global IT Services Private Limited and Wipro IT Services, LLC holds 60% of the equity securities of Aggne Global Inc.

 

(4)

Wipro, Inc. has been incorporated as a wholly-owned subsidiary of the Company with effect from September 30, 2024.

 

(1) 

Step Subsidiary details of Cardinal US Holdings, Inc., HealthPlan Services, Inc., International TechneGroup Incorporated, Wipro NextGen Enterprise Inc., Rizing Intermediate Holdings, Inc., The Capital Markets Company BV, Wipro Ampion Holdings Pty Ltd, Wipro Appirio, Inc., Wipro Designit Services, Inc., Wipro do Brasil Technologia Ltda and Wipro Portugal S.A. are as follows:

 

Subsidiaries

 

Subsidiaries

 

Subsidiaries

 

Country of

Incorporation

Cardinal US Holdings, Inc.       USA
  ATOM Solutions LLC     USA
  Capco Consulting Services LLC     USA
  Capco RISC Consulting LLC     USA
  The Capital Markets Company LLC     USA
HealthPlan Services, Inc.       USA
  HealthPlan Services Insurance Agency, LLC     USA
International TechneGroup Incorporated       USA
  International TechneGroup Ltd.     U.K.
  ITI Proficiency Ltd     Israel
  MechWorks S.R.L.     Italy
Wipro NextGen Enterprise Inc.       USA
  LeanSwift AB     Sweden
Rizing Intermediate Holdings, Inc.       USA
  Rizing Lanka (Private) Ltd   Attune Netherlands B.V. (5)   Sri Lanka
      Netherlands
  Rizing Solutions Canada Inc.     Canada
  Rizing LLC     USA
    Aasonn Philippines Inc.   Philippines
    Rizing B.V.   Netherlands
    Rizing Consulting Ireland Limited   Ireland
    Rizing Consulting Pty Ltd.   Australia
    Rizing Geospatial LLC   USA
    Rizing GmbH   Germany
    Rizing Limited   U.K.
    Rizing Pte Ltd. (5)   Singapore

 

31


The Capital Markets Company BV       Belgium
  CapAfric Consulting (Pty) Ltd     South Africa
  Capco Belgium BV     Belgium
  Capco Consultancy (Malaysia) Sdn. Bhd     Malaysia
  Capco Consultancy (Thailand) Ltd     Thailand
  Capco Consulting Singapore Pte. Ltd     Singapore
  Capco Greece Single Member P.C     Greece
  Capco Poland sp. z.o.o     Poland
  The Capital Markets Company (UK) Ltd     U.K.
    Capco (UK) 1, Limited   U.K.
  The Capital Markets Company BV     Netherlands
  The Capital Markets Company GmbH     Germany
    Capco Austria GmbH   Austria
  The Capital Markets Company Limited     Hong Kong
  The Capital Markets Company Limited     Canada
  The Capital Markets Company S.á.r.l     Switzerland
    Andrion AG   Switzerland
  The Capital Markets Company S.A.S     France
  The Capital Markets Company s.r.o     Slovakia
Wipro Ampion Holdings Pty Ltd       Australia
  Wipro Revolution IT Pty Ltd     Australia
  Crowdsprint Pty Ltd     Australia
  Wipro Shelde Australia Pty Ltd     Australia
Wipro Appirio, Inc.       USA
  Wipro Appirio (Ireland) Limited     Ireland
    Wipro Appirio UK Limited   U.K.
  Topcoder, LLC.     USA
Wipro Designit Services, Inc.       USA
  Wipro Designit Services Limited     Ireland
Wipro do Brasil Technologia Ltda       Brazil
  Wipro do Brasil Servicos Ltda     Brazil
  Wipro Do Brasil Sistemas De     Brazil
  Informatica Ltda    
Wipro Portugal S.A.       Portugal
  Wipro Technologies GmbH     Germany
    Wipro Business Solutions GmbH (5)   Germany
    Wipro IT Services Austria GmbH   Austria

 

(5)

Step Subsidiary details of Attune Netherlands B.V., Rizing Pte Ltd., Wipro Business Solutions GmbH are as follows:

 

Subsidiaries

  

Subsidiaries

  

Subsidiaries

  

Country of

Incorporation

Attune Netherlands B.V.          Netherlands
   Rizing Consulting USA, Inc.       USA
   Rizing Germany GmbH       Germany
   Attune Italia S.R.L       Italy
   Attune UK Ltd.       U.K.
Rizing Pte Ltd.          Singapore
   Rizing New Zealand Ltd.       New Zealand
   Rizing Philippines Inc.       Philippines
   Rizing SDN BHD       Malaysia
   Rizing Solutions Pty Ltd       Australia
Wipro Business Solutions GmbH          Germany
   Wipro Technology Solutions S.R.L       Romania

As at September 30, 2024, the Company held 43.7% interest in Drivestream Inc. and 27% interest in SDVerse LLC, accounted for using the equity method.

The list of controlled trusts are:

 

Name of the entity

  

Country of incorporation

Wipro Equity Reward Trust    India
Wipro Foundation    India

 

32


29. Buyback of equity shares

During the six months ended September 30, 2023, the Company concluded the buyback of 269,662,921 equity shares (at a price of  445 per equity share) as approved by the Board of Directors on April 27, 2023. This has resulted in a total cash outflow of  145,173 (including tax on buyback of  24,783 and transaction costs related to buyback of  390). In line with the requirement of the Companies Act, 2013, an amount of  3,768 and  141,405 has been utilized from share premium and retained earnings respectively. Further, capital redemption reserve (included in other reserves) of  539 (representing the nominal value of the shares bought back) has been created as an apportionment from retained earnings. Consequent to such buyback, the paid-up equity share capital has reduced by  539.

30. Events after the reporting period

The Board of Directors in their meeting held on October 17, 2024 approved issue of bonus shares, commonly known as issue of stock dividend in the US, in the proportion of 1:1, i.e. 1 (one) bonus equity share of  2 each for every 1 (one) fully paid-up equity shares held (including ADS holders) as on the record date, subject to approval by the Members of the Company through Postal Ballot. The bonus issue, if approved, will not affect the ratio of ADSs to equity shares, such that each ADS after the bonus issue will continue to represent one equity share of par value of  2 per share. On completion of bonus issue, the Earnings Per Share for all periods presented will be adjusted retrospectively.

 

 

As per our report of even date attached   For and on behalf of the Board of Directors
for Deloitte Haskins & Sells LLP   Rishad A. Premji   Deepak M. Satwalekar   Srinivas Pallia
Chartered Accountants   Chairman   Director   Chief Executive Officer and
Firm Registration No: 117366W/W - 100018       Managing Director
Anand Subramanian   Aparna C. Iyer     M. Sanaulla Khan
Partner   Chief Financial Officer     Company Secretary
Membership No. 110815      

Bengaluru

October 17, 2024

 

33

Exhibit 99.4

WIPRO LIMITED

CIN: L32102KA1945PLC020800 ; Registered Office : Wipro Limited, Doddakannelli, Sarjapur Road, Bengaluru - 560035, India

Website: www.wipro.com ; Email id – info@wipro.com ; Tel: +91-80-2844 0011 ; Fax: +91-80-2844 0054

STATUTORILY AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE THREE AND SIX MONTHS ENDED SEPTEMBER 30, 2024

UNDER IFRS (IASB)

( in millions, except share and per share data, unless otherwise stated)

 

          Three months ended      Six months ended      Year ended  
    

Particulars

   September
30, 2024
     June 30,
2024
     September
30, 2023
     September
30, 2024
     September
30, 2023
     March 31,
2024
 
   Income                  
  

a) Revenue from operations

     223,016        219,638        225,159        442,654        453,469        897,603  
  

b) Foreign exchange gains/(losses), net

     (396      (206      268        (602      206        340  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

I

   Total income      222,620        219,432        225,427        442,052        453,675        897,943  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   Expenses                  
  

a) Purchases of stock-in-trade

     1,034        664        576        1,698        1,554        3,832  
  

b) Changes in inventories of stock-in-trade

     (152      (2      920        (154      738        278  
  

c) Employee benefits expense

     134,695        132,293        138,536        266,988        278,812        549,301  
  

d) Depreciation, amortization and impairment expense

     8,308        7,289        8,970        15,597        16,350        34,071  
  

e) Sub-contracting and technical fees

     24,582        24,767        26,547        49,349        52,932        103,030  
  

f) Facility expenses

     3,937        4,133        3,815        8,070        7,267        14,556  
  

g) Travel

     3,836        3,937        4,049        7,773        8,224        15,102  
  

h) Communication

     1,079        993        1,360        2,072        2,609        4,878  
  

i) Legal and professional fees

     3,013        2,282        2,507        5,295        4,758        9,559  
  

j) Software license expense for internal use

     4,702        4,605        4,701        9,307        9,308        18,378  
  

k) Marketing and brand building

     838        804        880        1,642        1,857        3,555  
  

l) Lifetime expected credit loss/ (write-back)

     593        (26      139        567        439        640  
  

m) (Gain)/loss on sale of property, plant and equipment, net

     (820      (23      (2,320      (843      (2,242      (2,072
  

n) Other expenses

     (174      1,647        1,402        1,473        3,208        6,736  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

II

   Total expenses      185,471        183,363        192,082        368,834        385,814        761,844  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

III

   Finance expenses      3,569        3,288        3,033        6,857        6,119        12,552  

IV

   Finance and other income      9,195        7,480        4,810        16,675        11,352        23,896  

V

   Share of net profit/ (loss) of associate and joint venture accounted for using the equity method      3        (45      (30      (42      (27      (233
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

VI

   Profit before tax [I-II-III+IV+V]      42,778        40,216        35,092        82,994        73,067        147,210  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

VII

   Tax expense      10,512        9,850        8,419        20,362        17,534        36,089  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

VIII

   Profit for the period [VI-VII]      32,266        30,366        26,673        62,632        55,533        111,121  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   Other comprehensive income (OCI)                  
  

Items that will not be reclassified to profit or loss in subsequent periods

                 
  

Remeasurements of the defined benefit plans, net

     323        58        51        381        6        82  
  

Net change in fair value of investment in equity instruments measured at fair value through OCI

     153        (319      (124      (166      (108      (473
  

Items that will be reclassified to profit or loss in subsequent periods

                 
  

Foreign currency translation differences

     5,115        (1,399      1,824        3,716        1,462        4,219  
  

Reclassification of foreign currency translation differences on liquidation of subsidiaries to statement of income

     13        ^        (183      13        (181      (198
  

Net change in time value of option contracts designated as cash flow hedges, net of taxes

     (368      4        211        (364      251        198  
  

Net change in intrinsic value of option contracts designated as cash flow hedges, net of taxes

     (103      85        (311      (18      201        128  
  

Net change in fair value of forward contracts designated as cash flow hedges, net of taxes

     (673      218        (62      (455      1,586        1,655  
  

Net change in fair value of investment in debt instruments measured at fair value through OCI, net of taxes

     390        184        297        574        1,336        1,516  

 

1


IX

   Total other comprehensive income for the period, net of taxes      4,850        (1,169      1,703        3,681        4,553        7,127  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   Total comprehensive income for the period [VIII+IX]      37,116        29,197        28,376        66,313        60,086        118,248  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

X

   Profit for the period attributable to:                  
   Equity holders of the Company      32,088        30,032        26,463        62,120        55,164        110,452  
   Non-controlling interests      178        334        210        512        369        669  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
        32,266        30,366        26,673        62,632        55,533        111,121  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
   Total comprehensive income for the period attributable to:                  
   Equity holders of the Company      36,942        28,865        28,169        65,807        59,809        117,744  
   Non-controlling interests      174        332        207        506        277        504  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
        37,116        29,197        28,376        66,313        60,086        118,248  
     

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

XI

   Paid up equity share capital (Par value 2 per share)      10,463        10,460        10,444        10,463        10,444        10,450  

XII

   Reserves excluding revaluation reserves and Non-controlling interests as per balance sheet                     739,433  

XIII

   Earnings per share (EPS)                  
   (Equity shares of par value of 2/- each)                  
   (EPS for the three and six months ended periods are not annualized)                  
   Basic (in )      6.14        5.75        5.06        11.89        10.30        20.89  
   Diluted (in )      6.12        5.73        5.04        11.85        10.27        20.82  

 

^

Value is less than 0.5

1.

The audited consolidated financial results of the Company for the three and six months ended September 30, 2024, have been approved by the Board of Directors of the Company at its meeting held on October 17, 2024. The Company confirms that its statutory auditors, Deloitte Haskins & Sells LLP have issued an audit report with unmodified opinion on the consolidated financial results.

2.

The above consolidated financial results have been prepared on the basis of the audited interim condensed consolidated financial statements which are prepared in accordance with International Financial Reporting Standards and its interpretations (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). All amounts included in the consolidated financial results (including notes) are reported in millions of Indian rupees ( in millions) except share and per share data, unless otherwise stated.

3.

(Gain)/loss on sale of property, plant and equipment for the three and six months ended September 30, 2024 and 2023, includes gain on relinquishment of the lease hold rights of land, and transfer of building along with other assets of  (885), and gain on sale of immovable properties of  (2,368), respectively.

4.

Other expenses are net of reversals of contingent consideration of  167,  Nil,  490 for the three months ended September 30, 2024, June 30, 2024, September 30, 2023,  167 and  506 for the six months ended September 30, 2024 and 2023, and  1,300 for the year ended March 31, 2024, respectively. Other expenses are net of insurance claim received of  1,805 during the three and six months ended September 30, 2024.

5.

List of subsidiaries, associate and joint venture as at September 30, 2024 are provided in the table below:

 

Subsidiaries

 

Subsidiaries

 

Subsidiaries

 

Country of
Incorporation

Attune Consulting India Private Limited       India
Capco Technologies Private Limited       India
Wipro Technology Product Services Private Limited       India
Wipro Chengdu Limited       China
Wipro Holdings (UK) Limited       U.K.
Wipro HR Services India Private Limited       India
Wipro IT Services Bangladesh Limited       Bangladesh

 

2


Wipro IT Services UK Societas       U.K.
  Designit A/S     Denmark
    Designit Denmark A/S   Denmark
    Designit Germany GmbH   Germany
    Designit Oslo A/S   Norway
    Designit Spain Digital, S.L.U   Spain
    Designit Sweden AB   Sweden
    Designit T.L.V Ltd.   Israel
  Wipro Bahrain Limited Co. W.L.L     Bahrain
  Wipro Czech Republic IT Services s.r.o.     Czech Republic
  Wipro CRM Services (formerly known as Wipro 4C NV)     Belgium
    Wipro 4C Consulting France SAS   France
    Wipro CRM Services B.V. (formerly known as Wipro 4C Nederland B.V)   Netherlands
    Wipro CRM Services ApS   Denmark
    Wipro CRM Services UK Limited   U.K.
  Grove Holdings 2 S.á.r.l     Luxembourg
    Capco Solution Services GmbH   Germany
    The Capital Markets Company Italy Srl   Italy
    Capco Brasil Serviços E Consultoria Ltda   Brazil
    The Capital Markets Company BV (1)   Belgium
  PT. WT Indonesia     Indonesia
  Rainbow Software LLC     Iraq
  Wipro Arabia Limited (2)     Saudi Arabia
    Women’s Business Park Technologies Limited (2)   Saudi Arabia
  Wipro Doha LLC     Qatar
  Wipro Financial Outsourcing Services Limited     U.K.
    Wipro UK Limited   U.K.
  Wipro Gulf LLC     Sultanate of
      Oman
  Wipro Holdings Hungary Korlátolt Felelősségű Társaság     Hungary
    Wipro Holdings Investment Korlátolt Felelősségű Társaság   Hungary
  Wipro Information Technology Netherlands BV.     Netherlands
    Wipro do Brasil Technologia Ltda (1)   Brazil
    Wipro Information Technology Kazakhstan LLP   Kazakhstan
    Wipro Outsourcing Services (Ireland) Limited   Ireland
    Wipro Portugal S.A. (1)   Portugal
    Wipro Solutions Canada Limited   Canada
    Wipro Technologies Limited   Russia
    Wipro Technologies Peru SAC   Peru
    Wipro Technologies W.T. Sociedad Anonima   Costa Rica
    Wipro Technology Chile SPA   Chile
  Wipro IT Service Ukraine, LLC     Ukraine
  Wipro IT Services Poland SP Z.O.O     Poland
  Wipro IT Services S.R.L.     Romania
  Wipro Regional Headquarter     Saudi Arabia
  Wipro Technologies Australia Pty Ltd     Australia
    Wipro Ampion Holdings Pty Ltd (1)   Australia
  Wipro Technologies SA     Argentina
  Wipro Technologies SA DE CV     Mexico
  Wipro Technologies South Africa (Proprietary) Limited     South Africa
    Wipro Technologies Nigeria Limited   Nigeria
  Wipro Technologies SRL     Romania
  Wipro (Thailand) Co. Limited     Thailand
Wipro Japan KK       Japan
Wipro Networks Pte Limited       Singapore
  Wipro (Dalian) Limited     China
  Wipro Technologies SDN BHD     Malaysia
Wipro Overseas IT Services Private Limited       India
Wipro Philippines, Inc.       Philippines
Wipro Shanghai Limited       China
     

 

3


Wipro Trademarks Holding Limited          India
Wipro Travel Services Limited          India
Wipro VLSI Design Services India Private Limited          India
Wipro, LLC          USA
   Wipro Gallagher Solutions, LLC       USA
   Wipro Insurance Solutions, LLC       USA
   Wipro IT Services, LLC       USA
      Aggne Global Inc. (3)    USA
      Cardinal US Holdings, Inc.(1)    USA
      Edgile, LLC    USA
      HealthPlan Services, Inc. (1)    USA
      Infocrossing, LLC    USA
      International TechneGroup Incorporated (1)    USA
      Wipro NextGen Enterprise Inc. (1)    USA
      Rizing Intermediate Holdings, Inc. (1)    USA
      Wipro Appirio, Inc. (1)    USA
      Wipro Designit Services, Inc. (1)    USA
      Wipro Telecom Consulting LLC    USA
      Wipro VLSI Design Services, LLC    USA
Aggne Global IT Services Private Limited (3)          India
Wipro, Inc.(4)          USA

The Company controls ‘The Wipro SA Broad Based Ownership Scheme Trust’, ‘Wipro SA Broad Based Ownership Scheme SPV (RF) (PTY) LTD’ incorporated in South Africa and Wipro Foundation in India.

 

(2) 

All the above direct subsidiaries are 100% held by the Company except that the Company holds 66.67% of the equity securities of Wipro Arabia Limited and 55% of the equity securities of Women’s Business Park Technologies Limited are held by Wipro Arabia Limited.

(3)

The company holds 60% of the equity securities of Aggne Global IT Services Private Limited and Wipro IT Services, LLC holds 60% of the equity securities of Aggne Global Inc.

(4)

Wipro, Inc. has been incorporated as a wholly-owned subsidiary of the Company with effect from September 30, 2024.

(1)

Step Subsidiary details of Cardinal US Holdings, Inc., HealthPlan Services, Inc., International TechneGroup Incorporated, Wipro NextGen Enterprise Inc., Rizing Intermediate Holdings, Inc., The Capital Markets Company BV, Wipro Ampion Holdings Pty Ltd, Wipro Appirio, Inc., Wipro Designit Services, Inc., Wipro do Brasil Technologia Ltda and Wipro Portugal S.A. are as follows:

 

Subsidiaries

  

Subsidiaries

  

Subsidiaries

  

Country of
Incorporation

Cardinal US Holdings, Inc.          USA
   ATOM Solutions LLC       USA
   Capco Consulting Services LLC       USA
   Capco RISC Consulting LLC       USA
   The Capital Markets Company LLC       USA
HealthPlan Services, Inc.          USA
   HealthPlan Services Insurance Agency, LLC       USA
International TechneGroup Incorporated          USA
   International TechneGroup Ltd.       U.K.
   ITI Proficiency Ltd       Israel
   MechWorks S.R.L.       Italy
Wipro NextGen Enterprise Inc.    LeanSwift AB       USA Sweden
Rizing Intermediate Holdings, Inc.          USA
   Rizing Lanka (Private) Ltd       Sri Lanka
      Attune Netherlands B.V. (5)    Netherlands
   Rizing Solutions Canada Inc. Rizing LLC       Canada USA
      Aasonn Philippines Inc.    Philippines

 

4


      Rizing B.V.    Netherlands
      Rizing Consulting Ireland Limited    Ireland
      Rizing Consulting Pty Ltd.    Australia
      Rizing Geospatial LLC    USA
      Rizing GmbH    Germany
      Rizing Limited    U.K.
      Rizing Pte Ltd. (5)    Singapore
The Capital Markets Company          Belgium
BV         
   CapAfric Consulting (Pty) Ltd       South Africa
   Capco Belgium BV       Belgium
   Capco Consultancy (Malaysia) Sdn. Bhd       Malaysia
   Capco Consultancy (Thailand) Ltd       Thailand
   Capco Consulting Singapore Pte. Ltd       Singapore
   Capco Greece Single Member P.C       Greece
   Capco Poland sp. z.o.o       Poland
   The Capital Markets Company (UK) Ltd       U.K.
      Capco (UK) 1, Limited    U.K.
   The Capital Markets Company BV       Netherlands
   The Capital Markets Company GmbH       Germany
      Capco Austria GmbH    Austria
   The Capital Markets Company Limited       Hong Kong
   The Capital Markets Company Limited       Canada
   The Capital Markets Company S.á.r.l       Switzerland
      Andrion AG    Switzerland
   The Capital Markets Company S.A.S       France
   The Capital Markets Company s.r.o       Slovakia
Wipro Ampion Holdings Pty Ltd          Australia
   Wipro Revolution IT Pty Ltd       Australia
   Crowdsprint Pty Ltd       Australia
   Wipro Shelde Australia Pty Ltd       Australia
Wipro Appirio, Inc.          USA
   Wipro Appirio (Ireland) Limited       Ireland
      Wipro Appirio UK Limited    U.K.
   Topcoder, LLC.       USA
Wipro Designit Services, Inc.          USA
   Wipro Designit Services Limited       Ireland
Wipro do Brasil Technologia          Brazil
Ltda         
   Wipro do Brasil Servicos Ltda       Brazil
   Wipro Do Brasil Sistemas De       Brazil
   Informatica Ltda      
Wipro Portugal S.A.          Portugal
   Wipro Technologies GmbH       Germany
      Wipro Business Solutions GmbH (5)    Germany
      Wipro IT Services Austria GmbH    Austria

 

(5)

Step Subsidiary details of Attune Netherlands B.V., Rizing Pte Ltd., Wipro Business Solutions GmbH are as follows:

 

Subsidiaries

  

Subsidiaries

  

Subsidiaries

  

Country of
Incorporation

Attune Netherlands B.V.          Netherlands
   Rizing Consulting USA, Inc.       USA
   Rizing Germany GmbH       Germany
   Attune Italia S.R.L       Italy
   Attune UK Ltd.       U.K.
Rizing Pte Ltd.          Singapore
   Rizing New Zealand Ltd.       New Zealand
   Rizing Philippines Inc.       Philippines
   Rizing SDN BHD       Malaysia
   Rizing Solutions Pty Ltd       Australia
Wipro Business Solutions GmbH          Germany
   Wipro Technology Solutions S.R.L       Romania

 

5


As at September 30, 2024, the Company held 43.7% interest in Drivestream Inc. and 27% interest in SDVerse LLC, accounted for using the equity method.

The list of controlled trusts are:

 

Name of the entity

  

Country of incorporation

Wipro Equity Reward Trust    India
Wipro Foundation    India

6. Segment Information

The Company is organized into the following operating segments: IT Services and IT Products.

IT Services: The IT services segment primarily consists of IT services offerings to customers organized by four Strategic Market Units (“SMUs”) - Americas 1, Americas 2, Europe and Asia Pacific Middle East and Africa (“APMEA”). Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries.

Americas 1 includes the entire business of Latin America (“LATAM”) and the following industry sectors in the United States of America: communications, media and information services, software and gaming, new age technology, consumer goods, medical devices and life sciences, healthcare, and technology products and services. Americas 2 includes the entire business in Canada and the following industry sectors in the United States of America: banking and financial services, energy, manufacturing and resources, capital markets and insurance, and hi-tech. Europe consists of the United Kingdom and Ireland, Switzerland, Germany, Northern Europe and Southern Europe. APMEA consists of Australia and New Zealand, India, Middle East, South East Asia, Japan and Africa.

Revenue from each customer is attributed to the respective SMUs based on the location of the customer’s primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer’s buying centers, but the total revenue related to these strategic global customers are attributed to a single SMU based on the geographical location of key decision makers.

Our IT Services segment provides a range of IT and IT enabled services which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure services, business process services, cloud, mobility and analytics services, research and development and hardware and software design.

IT Products: The Company is a value-added reseller of security, packaged and SaaS software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to these items is reported as revenue from the sale of IT Products.

The Chief Executive Officer (“CEO”) and Managing Director of the Company has been identified as the Chief Operating Decision Maker as defined by IFRS 8, “Operating Segments”. The CEO of the Company evaluates the segments based on their revenue growth and operating income.

Assets and liabilities used in the Company’s business are not identified to any of the operating segments, as these are used interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.

 

6


Information on reportable segments for the three months ended September 30, 2024, June 30, 2024, September 30, 2023, six months ended September 30, 2024, September 30, 2023 and year ended March 31, 2024 are as follows:

 

     Three months ended     Six months ended     Year ended  
     September     June     September     September     September     March  
     30, 2024     30, 2024     30, 2023     30, 2024     30, 2023     31, 2024  

Particulars

   Audited     Audited     Audited     Audited     Audited     Audited  

Segment revenue

            

IT Services

            

Americas 1

     68,393       67,700       66,813       136,093       132,420       268,230  

Americas 2

     67,932       67,338       66,914       135,270       135,217       269,482  

Europe

     61,821       60,422       63,976       122,243       131,110       253,927  

APMEA

     23,811       23,503       26,255       47,314       52,765       102,177  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total of IT Services

     221,957       218,963       223,958       440,920       451,512       893,816  

IT Products

     663       469       1,469       1,132       2,163       4,127  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total segment revenue

     222,620       219,432       225,427       442,052       453,675       897,943  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Segment result

            

IT Services

            

Americas 1

     13,338       13,687       15,287       27,025       28,824       59,364  

Americas 2

     15,005       15,533       14,023       30,538       28,192       59,163  

Europe

     7,821       5,873       7,547       13,694       17,515       33,354  

APMEA

     3,070       2,441       2,985       5,511       5,785       12,619  

Unallocated

     (1,912     (1,477     (3,784     (3,389     (7,741     (20,304
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total of IT Services

     37,322       36,057       36,058       73,379       72,575       144,196  

IT Products

     (183     (47     (467     (230     (628     (371

Reconciling Items

     10       59       (2,246     69       (4,086     (7,726
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total segment result

     37,149       36,069       33,345       73,218       67,861       136,099  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Finance expenses

     (3,569     (3,288     (3,033     (6,857     (6,119     (12,552

Finance and other income

     9,195       7,480       4,810       16,675       11,352       23,896  

Share of net profit/ (loss) of associate and joint venture accounted for using the equity method

     3       (45     (30     (42     (27     (233
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit before tax

     42,778       40,216       35,092       82,994       73,067       147,210  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Notes:

 

  a)

“Reconciling Items” includes elimination of inter-segment transactions and other corporate activities.

  b)

Revenue from sale of Company owned intellectual properties is reported as part of IT Services revenues.

  c)

For the purpose of segment reporting, the Company has included the net impact of foreign exchange gains/(losses), net in revenues amounting to (396), (206), and 268 for the three months ended September 30, 2024, June 30, 2024 and September 30, 2023 respectively, (602), and 206 for the six months ended September 30, 2024, September 30, 2023, and 340 for the year ended March 31, 2024, which is reported under foreign exchange gains/(losses), net in the consolidated financial results.

  d)

Restructuring cost of 2,249 and 4,136 for the three and six months ended September 30, 2023 respectively, and 6,814 for the year ended March 31, 2024, is included under Reconciling Items.

  e)

Reconciling Items for the year ended March 31, 2024 includes employee costs of 921 towards outgoing CEO and Managing Director.

  f)

“Unallocated” within IT Services segment results is after recognition of amortization and impairment expense on intangible assets of 2,919, 1,782, 3,484, 4,701, 5,294 and 11,756 for the three months ended September 30, 2024, June 30, 2024, September 30, 2023, six months ended September 30, 2024, September 30, 2023 and year ended March 31, 2024 respectively, and change in fair value of contingent consideration of (167), Nil, (490), (167), (506) and (1,300) for the three months ended September 30, 2024, June 30, 2024, September 30, 2023, six months ended September 30, 2024, September 30, 2023 and year ended March 31, 2024 respectively.

Segment results of IT Services segment for the three and six months ended September 30, 2023 and year ended March 31, 2024 are after considering additional amortization due to change in estimate of useful life of the customer-related intangibles in an earlier Business combination.

  g)

Segment results of IT Services segment are after recognition of share-based compensation expense 1,306, 1,329 and 1,563 for the three months ended September 30, 2024, June 30, 2024 and September 30, 2023, respectively and 2,635 and 3,107 for the six months ended September 30, 2024, September 30, 2023, respectively, and 5,590 for the year ended March 31, 2024.

  h)

Segment results of IT Services segment are after recognition of (gain)/loss on sale of property, plant and equipment of (820), (23) and (2,320) for the three months ended September 30, 2024, June 20, 2024 and September 30, 2023, respectively and (843) and (2,242) for the six months ended September 30, 2024, September 30, 2023, respectively, and (2,072) for the year ended March 31, 2024.

 

7


7.

Buyback of equity shares

During the six months ended September 30, 2023, the Company concluded the buyback of 269,662,921 equity shares (at a price of 445 per equity share) as approved by the Board of Directors on April 27, 2023. This has resulted in a total cash outflow of 145,173 (including tax on buyback of 24,783 and transaction costs related to buyback of 390). In line with the requirement of the Companies Act, 2013, an amount of 3,768 and 141,405 has been utilized from share premium and retained earnings respectively. Further, capital redemption reserve (included in other reserves) of 539 (representing the nominal value of the shares bought back) has been created as an apportionment from retained earnings. Consequent to such buyback, the paid-up equity share capital has reduced by 539.

 

8.

Earnings per share for each of the three months ended September 30, 2023 and June 30, 2023 will not add up to earnings per share for the six months ended September 30, 2023, on account of buyback of equity shares.

 

9.

Audited Consolidated Balance Sheet

 

     As at March 31, 2024      As at September 30, 2024  

ASSETS

     

Goodwill

     316,002        319,207  

Intangible assets

     32,748        28,195  

Property, plant and equipment

     81,608        78,822  

Right-of-Use assets

     17,955        21,854  

Financial assets

     

Derivative assets

     25        —   

Investments

     21,629        31,385  

Trade receivables

     4,045        587  

Other financial assets

     5,550        5,148  

Investments accounted for using the equity method

     1,044        1,008  

Deferred tax assets

     1,817        1,922  

Non-current tax assets

     9,043        7,782  

Other non-current assets

     10,331        7,744  
  

 

 

    

 

 

 

Total non-current assets

     501,797        503,654  
  

 

 

    

 

 

 

Inventories

     907        1,052  

Financial assets

     

Derivative assets

     1,333        651  

Investments

     311,171        407,309  

Cash and cash equivalents

     96,953        104,592  

Trade receivables

     115,477        112,655  

Unbilled receivables

     58,345        64,776  

Other financial assets

     10,536        8,973  

Contract assets

     19,854        17,788  

Current tax assets

     6,484        6,086  

Other current assets

     29,602        32,561  
  

 

 

    

 

 

 

Total current assets

     650,662        756,443  
  

 

 

    

 

 

 

TOTAL ASSETS

     1,152,459        1,260,097  
  

 

 

    

 

 

 

EQUITY

     

Share capital

     10,450        10,463  

Share premium

     3,291        6,000  

Retained earnings

     630,936        693,688  

Share-based payment reserve

     6,384        6,315  

Special Economic Zone Re-investment reserve

     42,129        41,497  

Other components of equity

     56,693        60,380  
  

 

 

    

 

 

 

Equity attributable to the equity holders of the Company

     749,883        818,343  

Non-controlling interests

     1,340        1,798  
  

 

 

    

 

 

 

TOTAL EQUITY

     751,223        820,141  
  

 

 

    

 

 

 

LIABILITIES

     

Financial liabilities

     

Loans and borrowings

     62,300        62,653  

Lease liabilities

     13,962        18,965  

Derivative liabilities

     4        1  

Other financial liabilities

     4,985        5,862  

Deferred tax liabilities

     17,467        16,625  

Non-current tax liabilities

     37,090        40,122  

Other non-current liabilities

     12,970        14,823  
  

 

 

    

 

 

 

Total non-current liabilities

     148,778        159,051  
  

 

 

    

 

 

 

 

8


Financial liabilities

     

Loans, borrowings and bank overdrafts

     79,166        103,157  

Lease liabilities

     9,221        8,047  

Derivative liabilities

     558        1,064  

Trade payables and accrued expenses

     88,566        82,810  

Other financial liabilities

     2,272        2,976  

Contract liabilities

     17,653        18,439  

Current tax liabilities

     21,756        30,599  

Other current liabilities

     31,295        32,004  

Provisions

     1,971        1,809  
  

 

 

    

 

 

 

Total current liabilities

     252,458        280,905  
  

 

 

    

 

 

 

TOTAL LIABILITIES

     401,236        439,956  
  

 

 

    

 

 

 

TOTAL EQUITY AND LIABILITIES

     1,152,459        1,260,097  
  

 

 

    

 

 

 

10. Audited Consolidated Statement of Cash flows

 

     Six months ended September 30,  
     2023     2024  

Cash flows from operating activities

    

Profit for the period

     55,533       62,632  

Adjustments to reconcile profit for the period to net cash generated from operating activities:

    

(Gain)/loss on sale of property, plant and equipment, net

     (2,242     (843

Depreciation, amortization and impairment expense

     16,350       15,597  

Unrealized exchange (gain)/loss, net

     836       279  

Share-based compensation expense

     3,099       2,640  

Share of net (profit)/loss of associate and joint venture accounted for using equity method

     27       42  

Income tax expense

     17,534       20,362  

Finance and other income, net of finance expenses

     (5,233     (9,818

Change in fair value of contingent consideration

     (506     (167

Lifetime expected credit loss

     439       567  

Changes in operating assets and liabilities, net of effects from acquisitions

    

(Increase)/Decrease in trade receivables

     17,913       6,008  

(Increase)/Decrease in unbilled receivables and contract assets

     (5,937     (4,034

(Increase)/Decrease in Inventories

     (92     (145

(Increase)/Decrease in other assets

     6,498       1,103  

Increase/(Decrease) in trade payables, accrued expenses, other liabilities and provisions

     (11,260     (4,216

Increase/(Decrease) in contract liabilities

     (5,928     724  
  

 

 

   

 

 

 

Cash generated from operating activities before taxes

     87,031       90,731  

Income taxes paid, net

     (10,885     (8,083
  

 

 

   

 

 

 

Net cash generated from operating activities

     76,146       82,648  
  

 

 

   

 

 

 

Cash flows from investing activities:

    

Payment for purchase of property, plant and equipment

     (4,184     (5,017

Proceeds from disposal of property, plant and equipment

     4,223       1,459  

Payment for purchase of investments

     (465,185     (423,829

Proceeds from sale of investments

     535,473       323,786  

Repayment of security deposit for property, plant and equipment

     —        (300

Interest received

     11,274       13,981  

Dividend received

     2       1  
  

 

 

   

 

 

 

Net cash generated from/(used in) investing activities

     81,603       (89,919
  

 

 

   

 

 

 

Cash flows from financing activities:

    

Proceeds from issuance of equity shares and shares pending allotment

     7       13  

Repayment of loans and borrowings

     (43,750     (66,333

Proceeds from loans and borrowings

     48,750       89,835  

Payment of lease liabilities

     (5,172     (5,054

Payment for contingent consideration

     (1,289     —   

Interest and finance expenses paid

     (4,850     (4,177

Payment for buyback of equity shares, including tax and transaction cost

     (145,173     —   
  

 

 

   

 

 

 

Net cash generated from/(used in) financing activities

     (151,477     14,284  
  

 

 

   

 

 

 

Net increase in cash and cash equivalents during the period

     6,272       7,013  

Effect of exchange rate changes on cash and cash equivalents

     (259     591  

Cash and cash equivalents at the beginning of the period

     91,861       96,951  
  

 

 

   

 

 

 

Cash and cash equivalents at the end of the period

     97,874       104,555  
  

 

 

   

 

 

 

 

9


11. Events after the reporting period

The Board of Directors in their meeting held on October 17, 2024 approved issue of bonus shares, commonly known as issue of stock dividend in the US, in the proportion of 1:1, i.e. 1 (one) bonus equity share of  2 each for every 1 (one) fully paid-up equity shares held (including ADS holders) as on the record date, subject to approval by the Members of the Company through Postal Ballot. The bonus issue, if approved, will not affect the ratio of ADSs to equity shares, such that each ADS after the bonus issue will continue to represent one equity share of par value of  2 per share. On completion of bonus issue, the Earnings Per Share for all periods presented will be adjusted retrospectively.

 

 

 

By order of the Board,       For, Wipro Limited
Place: Bengaluru       Rishad A. Premji
Date: October 17, 2024       Chairman

 

10

Exhibit 99.5

 

LOGO

Wipro Limited Highlights for the Quarter ended September 30, 2024 REVENUE QoQ Constant YoY Constant Operating $2.66 Bn Currency Currency Margin o 0.6% I o 2.3% 16.8 % STRATEGIC MARKET UNITS MIX 30.8% AMERICAS 1 i 30.6% AMERICAS 2 I 27.9% EUROPE i 10.7% APMEA SECTOR MIX 34.8% 19.2% 15.4% 13.6% 10.8% 6.2% o ® ® Banking, Financial Consumer Services Technology & Communications Energy, & Insurance Health Natural Manufacturing Resources and Utilities TOTAL $3.6 Bn Operating $509.7 Mn EPS  6.14 Cash Flow BOOKINGS o 5.9% YoY CC o 6.8% QoQ Operating LARGE DEAL $1.5 Bn TCV cash 132.3% o 21.3% YoY o 16.8% YoY CC Flow/Net Income Revenue from our IT Services business segment to be in the range of $2,607 million to OUTLOOK $2,660 million*. This translates to a sequential guidance of (-) 2.0% to + 0.0% in constant currency terms. for the Quarter ending * Outlook for the Quarter ending December 31, 2024, is based on the following exchange rates: GBP/USD at 1.32, Euro/USD at December 31, 2024 1.10, AUD/USD at 0.68, USD/INR at 83.65 and CAD/USD at 0.74 CUSTOMER CONCENTRATION TOP1 4.1% TOP 5 14.0% TOP10 22.9% TOTAL HEADCOUNT 233,889 ATTRITION VOL – TTM 14.5% OFFSHORE REVENUE NET UTILIZATION 86.4% PERCENTAGE OF SERVICES 59.8% EXCLUDING TRAINEES Page 1


LOGO

Wipro Limited Results for the Quarter ended September 30, 2024 FY 24-25 FY 23–24 © A IT Services FY Q2 Q1 Q4 Q3 Q2 Q1 2,660.1 2625.9 10,805.3 2,657.4 2,656.1 2,713.3 2,778.5 IT Services Revenues ($Mn) Sequential Growth 1.3% -1.2% -3.8% 0.1% -2.1% -2.3% -2.1% Sequential Growth in Constant Currency Note 1 0.6% -1.0% -4.4% -0.3% -1.7% -2.0% -2.8% Note 2 16.8% 16.5% 16.1% 16.4% 16.0% 16.1% 16.0% Operating Margin % Strategic Market Units Mix Americas 1 30.8% 30.9% 30.0% 30.4% 31.0% 29.8% 28.8% Americas 2 30.6% 30.8% 30.1% 30.7% 30.0% 29.9% 30.0% Europe 27.9% 27.6% 28.4% 27.8% 27.7% 28.6% 29.5% APMEA 10.7% 10.7% 11.5% 11.1% 11.3% 11.7% 11.7% Sectors Mix Banking, Financial Services and Insurance 34.8% 34.0% 33.4% 33.5% 32.7% 33.6% 33.9% Consumer 19.2% 19.2% 18.8% 18.7% 18.8% 18.7% 18.7% Technology and Communications Note 3 15.4% 15.3% 15.9% 15.2% 16.1% 16.4% 15.9% Health 13.6% 13.9% 13.2% 14.1% 13.9% 12.7% 12.2% Energy, Natural Resources and Utilities 10.8% 11.2% 11.8% 11.9% 11.8% 11.6% 12.0% Manufacturing 6.2% 6.4% 6.9% 6.6% 6.7% 7.0% 7.3% Total Bookings Total Bookings TCV ($Mn) Note 4 3,561 3,284 14,907 3,607 3,791 3,785 3,724 Large deal TCV ($Mn) Note 5 1,489 1,154 4,573 1,191 909 1,275 1,198 Guidance ($Mn) 2,600—2,652 2,617-2,670—2,615–2,669 2,617-2,6722,722-2,805 2,753-2,811 Guidance restated based on actual currency 2,618 – 2,670 2,612-2,665—2,624–2,678 2,605-2,6592,712-2,795 2,773-2,831 realized ($Mn) Revenues performance against guidance ($Mn) 2,660 2,626—2,657 2,656 2,713 2,779 Page 2


LOGO

FY 24-25 FY 23–24 Q2 Q1 FY Q4 Q3 Q2 Q1 Customer size distribution (TTM) > $100Mn 21 22 22 22 22 22 21 > $75Mn 30 29 32 32 31 28 28 > $50Mn 42 43 45 45 46 51 51 > $20Mn 117 117 116 116 121 122 123 > $10Mn 186 192 205 205 203 207 207 > $5Mn 297 301 301 301 305 313 319 > $3Mn 411 407 409 409 430 437 444 > $1Mn 733 735 741 741 750 774 769 Revenue from Existing customers % 99.4% 99.7% 98.9% 97.8% 98.8% 99.1% 99.6% Number of new customers 28 43 229 60 55 49 65 Total Number of active customers 1,342 1,364 1,371 1,371 1,349 1,393 1,444 Customer Concentration Top customer 4.1% 4.0% 3.0% 3.8% 3.0% 3.0% 3.1% Top 5 14.0% 13.6% 13.0% 13.4% 12.1% 12.3% 12.5% Top 10 22.9% 22.5% 21.4% 22.0% 20.5% 20.6% 20.5% % of Revenue USD 61% 61% 60% 60% 61% 60% 59% GBP 11% 11% 11% 11% 10% 11% 11% EUR 10% 10% 10% 10% 10% 10% 11% INR 4% 4% 5% 5% 5% 5% 5% AUD 4% 4% 4% 4% 4% 4% 4% CAD 3% 3% 3% 3% 3% 3% 3% Others 7% 7% 7% 7% 7% 7% 7% Note 6 Closing Employee Count 233,889 232,911 232,614 232,614 239,655 244,707 249,758 Sales & Support Staff (IT Services) 15,336 15,539 15,601 15,601 15,833 16,778 16,942 Utilization Note 7 Net Utilization (Excluding Trainees) 86.4% 87.7% 84.8% 86.9% 84.0% 84.5% 83.7% Attrition Voluntary TTM (IT Services excl. DOP) 14.5% 14.1% 14.2% 14.2% 14.2% 15.5% 17.3% DOP % — Post Training Quarterly 7.9% 8.3% 9.1% 8.9% 8.3% 9.8% 9.2% Page 3


LOGO

FY 24-25 FY 23–24 Q2 Q1 FY Q4 Q3 Q2 Q1 Revenue Mix Note 7 Revenue from FPP 56.7% 57.6% 59.2% 58.9% 59.9% 58.4% 59.7% Offshore Revenue — % of Services 59.8% 57.9% 59.9% 60.4% 59.8% 59.9% 59.5% Growth Metrics Note 1 Q2’25 Q2’25 Q2’25 Q2’25 Reported Reported Constant Constant QoQ% YoY% QoQ% YoY% IT Services 1.3% -2.0% 0.6% -2.3% Strategic Market Units Americas 1 1.1% 1.4% 1.2% 1.7% Americas 2 0.7% 0.4% 0.8% 0.5% Europe 2.2% -4.5% -0.1% -6.0% APMEA 1.5% -10.1% 0.3% -10.9% Sectors Banking, Financial Services and Insurance 3.7% 1.4% 2.7% 0.6% Consumer 0.9% 0.6% 0.3% 0.3% Technology and Communications Note 3 2.5% -7.9% 1.6% -8.4% Health -0.3% 5.3% -0.5% 5.2% Energy, Natural Resources and Utilities -2.7% -8.7% -3.7% -9.2% Manufacturing -2.5% -12.7% -2.0% -11.7% D Annexure to Datasheet Break-up of Technology and Communications sector Note 3 Technology Communications 1.7% -6.9% 1.0% -7.3% 4.8% -10.9% 3.5% -11.5% Segment-wise breakup of Cost of Revenues, S&M and G&A Q2 FY24-25 (INR Mn) Reconciling Particulars IT Services IT Products Total Items Cost of revenues 154,205 841 3 155,049 Selling and marketing expenses 17,376 11 1 17,388 13,054 -6 -14 13,034 General and administrative expenses Total 184,635 846 -10 185,471 Note 1: Constant currency (CC) for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period Note 2: IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials Note 3: Effective Q2’25 , we have merged Technology and communication sectors for our external reporting. For the current quarter we are sharing the split of technology and communication sectors as part of annexure. Note 4: Total Bookings refers to the total contract value of all orders that were booked during the period including new orders, renewals, and changes to existing contracts. Bookings do not reflect subsequent terminations or reductions related to bookings originally recorded in prior fiscal periods. Bookings are recorded using then-existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations. The revenues from these contracts accrue over the tenure of the contract. For constant currency growth rates, refer note 1 Note 5: Large deal bookings constitute of deals greater than or equal to $30 million in total contract value terms Note 6: We have corrected the previously reported headcount for Q3’24, Q4’24 and Q1’25. Note 7: IT Services excluding DOP (Digital Operations and Platforms) and entities which are not integrated in Wipro limited systems until Page 4 that quarter.


Grafico Azioni Wipro (NYSE:WIT)
Storico
Da Ott 2024 a Nov 2024 Clicca qui per i Grafici di Wipro
Grafico Azioni Wipro (NYSE:WIT)
Storico
Da Nov 2023 a Nov 2024 Clicca qui per i Grafici di Wipro