BANGALORE, India and
EAST BRUNSWICK, N.J., Oct. 31, 2011 /PRNewswire/ -- Wipro Limited
(NYSE: WIT) today announced financial results under
International Financial Reporting Standards (IFRS) for its second
quarter ended September 30, 2011.
Highlights of the Results:
- IT Services Revenue was $1,472
million, a sequential increase of 4.6% and YoY increase of
15.7%.
- Non-GAAP constant currency revenue growth was 5.5%
sequentially.
- Total Revenues were Rs.90.94
billion ($1.85 billion(1)), an
increase of 18% YoY.
- Non-GAAP Adjusted Net Income was Rs.13.06 billion ($266
million(1)), an increase of 2% YoY. Net Income was
Rs.13.01 billion ($265 million(1)), an increase of 1% YoY.
- IT Services Revenues were Rs.68.29 billion ($1.39
billion(1)), an increase of 7% sequentially and 19%
YoY.
- IT Services Earnings Before Interest and Tax (EBIT) was
Rs.13.64 billion ($278 million(1)), an increase of 7% YoY.
- Our Operating Income to Revenue for IT Services was 20% for the
quarter.
Performance for the quarter ended September 30, 2011.
Azim Premji, Chairman of
Wipro, commenting on the results said – "Macroeconomic sentiments
continue to remain uncertain. We have seen growth momentum build up
in our IT Business with healthy volume growth. Our focused
investment strategy will get the business to a higher growth
trajectory. "
Suresh Senapaty, Executive Director & Chief Financial
Officer of Wipro, said – "We are continuing to see incremental
progress in our client mining strategy with 5 customers
contributing more than $100 million
of revenues and our top customer hitting a revenue run rate upwards
of $200 million. We had an impact on
operating margins in the quarter due to salary increases."
T K Kurien, Executive Director & Chief Executive Officer,
IT Business, said – "We have had a strong quarter with Revenues
ahead of the upper end of the guided range. We continue to build
differentiation and business value through our focus on key themes
– Variabilization, Consumerization, Performance Analytics and
Innovation in a world of constraints."
Outlook for the Quarter ending December 31, 2011
We expect Revenues from our IT Services business to be in the
range of $1,500 million to $1,530
million*.
* Guidance is based on the following exchange rates: GBP/USD at
1.60, Euro/USD at 1.40, AUD/USD at 1.04, USD/INR at 46.42.
IT Services (75% of Total Revenue and
92% of Operating Income for the quarter ended September 30, 2011)
The IT Services segment had 131,730 employees as of September 30, 2011, an increase of 5,240 people
this quarter. We added 44 new customers for the quarter.
In the current macro-economic environment, corporations across
the globe are looking to maximize the potential of technology
deployments and are increasingly relying on business models and
technologies to variabilize their IT spends, enabling more
differentiating investment for IT based Innovation.
Wipro is seeing traction with clients on cloud and variabilized
business model offerings. State Street Corporation (NYSE: STT), one
of the world's leading providers of financial services to
institutional investors, has entered into a multi-year agreement
with Wipro to provide application maintenance and support
services Wipro will deploy pioneering 'lean' methodologies
delivered through its award winning CIGMA platform for this IT
transformation engagement.
A leading European Communications Services Provider has
expanded its existing relationship with Wipro to its wholesale
business, wherein Wipro will provide variabilized
technical support services for the service provider's
customers in the United
Kingdom.
Wipro has partnered with a Leading Convenience Retailer to
provide Infrastructure Management Services. Wipro will provide
easily scalable hosting and data center operations services to meet
the client's aggressive growth plans by applying proven tenets of
variabilization such as standardization and simplification to drive
efficiency and optimize delivery.
Wipro won an order from UIDAI (Unique Identification Authority
of India) for setting up computing
and storage platform for 100 million Aadhaar numbers. Wipro also
signed contracts with UIDAI for Data Center hosting services,
specialized consulting and manpower services.
Awards and accolades
Wipro Technologies achieved Diamond Level Status, the highest
ranking available, in Oracle Partner Network (OPN) Specialized
program and has been recognized for expertise and co-development
efforts across the Oracle Stack and continued commitment to joint
customer success.
Wipro Technologies' Mobile-Trust Framework won the 3rd Annual
2011 Golden Bridge Awards for Mobile Security Solutions
category.
IT Products (11% of Total Revenue and 3% of Operating Income
for the quarter ended September 30,
2011)
- Our IT Products segment recorded Revenue of Rs.10 billion ($204
million(1)) for the quarter ended September 30, 2011 a decline by 6% YoY.
- EBIT was Rs.451 million
($9 million(1)) for the quarter, a
decline of 15% YoY.
- The ratio of our Operating Income to Revenue for this segment
was 4.5% for the quarter.
Consumer Care and Lighting (9% of Total Revenue and 6% of
Operating Income for the
quarter ended September 30,
2011)
- Our Consumer Care and Lighting business segment recorded
Revenue of Rs.8 billion ($163 million(1)) for the quarter ended
September 30, 2011, representing an
increase of 20% YoY.
- EBIT was Rs.882 million
($18 million(1)) for the quarter, an
increase of 6% YoY.
- Operating Income to Revenue for this segment was 11% for the
quarter.
Wipro Limited
- Total Revenue for the quarter ended September 30, 2011 was Rs.90.94 billion ($1.85
billion(1)) representing an increase of 18% over the same
period last year.
- Net Income for the quarter ended September 30, 2011 was Rs.13.01 billion ($265
million(1)) representing an increase of 1% over the same
period last year.
- Non-GAAP Adjusted Net Income (excluding impact of accelerated
amortization of stock based compensation) for the quarter ended
September 30, 2011 was Rs.13.06 billion ($266
million(1)) representing an increase of 2% over the same
period last year.
Please see the table on page 7 for a reconciliation between (i)
IFRS Net Income and non-GAAP Adjusted Net Income (excluding the
impact of stock-based compensation) and (ii) IFRS IT Services
Revenue and IT Services Revenue on a non-GAAP constant currency
basis.
About Non-GAAP financial measures
This press release contains 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 7 provides Adjusted Net Income for the period,
which is a non-GAAP measure that excludes the impact of accelerated
amortization in respect of stock options that vest in a graded
manner, and IT Services Revenue on a constant currency basis, which
is a non-GAAP 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 consider a stock option award with a graded vesting
schedule to be in substance a single award not multiple stock
option awards and accordingly believe the straight line
amortization reflects the economic substance of the award. 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. We believe that the presentation of
this Non-GAAP Adjusted Net Income, when shown in conjunction with
the corresponding IFRS measure, provides useful information to
investors and management regarding financial and business trends
relating to its Net Income for the period
These 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. In addition to these 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.
For internal budgeting process, our management also uses
financial statements that exclude the impact of accelerated
amortization relating to stock options that vest in a graded
manner. Management of the Company also uses Non-GAAP Adjusted Net
Income, in addition to the corresponding IFRS measure, in reviewing
our financial results.
Results for the year ended September
30, 2011, computed under IFRS, along with individual
business segment reports, are available in the Investors section of
our website at www.wipro.com.
Quarterly Conference Calls
We will hold a conference call today at 02:00 p.m. Indian Standard Time (04:30 a.m. US Eastern Time) and at 6:45 p.m. Indian Standard Time (9:15 a.m. US Eastern Time) to discuss our
performance for the quarter. 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 (NYSE: WIT)
Wipro provides comprehensive IT solutions and services,
including systems integration, Information Systems outsourcing, IT
enabled services, package implementation, software application
development and maintenance, and research and development services
to corporations globally. Wipro Limited is the first PCMM
Level 5 and SEI CMM Level 5 certified IT Services Company globally.
Wipro also has a strong presence in niche market segments of
Infrastructure Engineering and Consumer Products & Lighting.
For more information, please visit our websites at
www.wipro.com.
Forward-looking and Cautionary 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, 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, 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.
(1) For the convenience of the reader, the amounts in Indian
rupees in this release have been translated into United States dollars at the noon buying rate
in New York City on September 30, 2011, for cable transfers in Indian
rupees, as certified by the Federal Reserve Board of New York, which was US $1= Rs.49.05.
However, the realized exchange rate in our IT Services business
segment for the quarter ended September 30,
2011 was US$1= Rs.46.38
|
|
WIPRO
LIMITED AND SUBSIDIARIES
|
|
AUDITED
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL
POSITION
|
|
(Rupees in
millions, except share and per share data, unless otherwise
stated)
|
|
|
|
|
|
|
|
|
|
|
|
As of March
31,
|
|
As of
September 30,
|
|
|
|
2011
|
|
2011
|
|
2011
|
|
|
|
|
|
|
|
Convenience
translation into
|
|
|
|
|
|
|
|
US$ in
millions
|
|
|
|
|
|
|
|
(Unaudited)
|
|
ASSETS
|
|
|
|
|
|
|
|
Goodwill
|
|
54,818
|
|
65,336
|
|
1,332
|
|
Intangible assets
|
|
3,551
|
|
4,341
|
|
88
|
|
Property, plant and
equipment
|
|
55,094
|
|
58,387
|
|
1,190
|
|
Investment properties
|
|
-
|
|
-
|
|
-
|
|
Investment in equity accounted
investee
|
|
2,993
|
|
3,155
|
|
64
|
|
Other Investments
|
|
(0)
|
|
(0)
|
|
(0)
|
|
Derivative assets
|
|
2,984
|
|
4,715
|
|
96
|
|
Non-current tax
assets
|
|
9,239
|
|
9,239
|
|
188
|
|
Deferred tax assets
|
|
1,467
|
|
2,457
|
|
50
|
|
Other non-current
assets
|
|
8,983
|
|
10,242
|
|
209
|
|
Total non-current
assets
|
|
139,129
|
|
157,872
|
|
3,219
|
|
|
|
|
|
|
|
|
|
Inventories
|
|
9,707
|
|
10,450
|
|
213
|
|
Trade receivables
|
|
61,627
|
|
80,495
|
|
1,641
|
|
Other current assets
|
|
19,744
|
|
27,211
|
|
555
|
|
Derivative assets
|
|
-
|
|
|
|
-
|
|
Unbilled revenues
|
|
24,149
|
|
28,079
|
|
572
|
|
Available for sale
investments
|
|
49,282
|
|
40,563
|
|
827
|
|
Derivative asset
|
|
-
|
|
-
|
|
-
|
|
Current tax assets
|
|
4,955
|
|
6,409
|
|
131
|
|
Derivative assets
|
|
1,709
|
|
2,272
|
|
46
|
|
Cash and cash
equivalents
|
|
61,141
|
|
50,132
|
|
1,022
|
|
Total current
assets
|
|
232,314
|
|
245,611
|
|
5,007
|
|
|
|
|
|
|
|
-
|
|
TOTAL ASSETS
|
|
371,443
|
|
403,483
|
|
8,226
|
|
|
|
|
|
|
|
|
|
EQUITY
|
|
|
|
|
|
|
|
Share capital
|
|
4,908
|
|
4,915
|
|
100
|
|
Share premium
|
|
30,124
|
|
30,099
|
|
614
|
|
Retained earnings
|
|
203,250
|
|
218,290
|
|
4,450
|
|
Share based payment
reserve
|
|
1,360
|
|
1,836
|
|
37
|
|
Other components of
equity
|
|
580
|
|
2,306
|
|
47
|
|
Shares held by controlled
trust
|
|
(542)
|
|
(542)
|
|
(11)
|
|
Equity attributable to the
equity holders of the company
|
|
239,680
|
|
256,904
|
|
5,238
|
|
Non-controlling
Interest
|
|
691
|
|
640
|
|
13
|
|
Total equity
|
|
240,371
|
|
257,544
|
|
5,251
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
Long - term loans and
borrowings
|
|
19,759
|
|
23,028
|
|
469
|
|
Deferred tax
liabilities
|
|
301
|
|
360
|
|
7
|
|
Employee benefit
obligations
|
|
-
|
|
-
|
|
-
|
|
Derivative
liabilities
|
|
2,586
|
|
2,633
|
|
54
|
|
Non-current tax
liability
|
|
5,021
|
|
4,936
|
|
101
|
|
Other non-current
liabilities
|
|
2,706
|
|
3,480
|
|
71
|
|
Provisions
|
|
81
|
|
94
|
|
2
|
|
Total non-current
liabilities
|
|
30,454
|
|
34,531
|
|
704
|
|
|
|
|
|
|
|
|
|
Loans and borrowings and bank
overdrafts
|
|
33,043
|
|
33,804
|
|
689
|
|
Trade payables and accrued
expenses
|
|
44,052
|
|
49,738
|
|
1,014
|
|
Unearned revenues
|
|
6,595
|
|
7,533
|
|
154
|
|
Current tax
liabilities
|
|
7,340
|
|
7,770
|
|
158
|
|
Derivative
liabilities
|
|
1,358
|
|
4,189
|
|
85
|
|
Other current
liabilities
|
|
5,906
|
|
6,402
|
|
131
|
|
Provisions
|
|
2,324
|
|
1,972
|
|
40
|
|
Total current
liabilities
|
|
100,618
|
|
111,408
|
|
2,271
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES
|
|
131,072
|
|
145,939
|
|
2,975
|
|
TOTAL EQUITY AND
LIABILITIES
|
|
371,443
|
|
403,483
|
|
8,226
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WIPRO
LIMITED AND SUBSIDIARIES
|
|
CONDENSED
CONSOLIDATED INTERIM STATEMENTS OF INCOME
|
|
(Rs. in
millions, except share and per share data, unless otherwise
stated)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended September 30,
|
|
|
Six months
ended September 30,
|
|
|
2010
|
|
2011
|
|
2011
|
|
|
2010
|
|
2011
|
|
2011
|
|
|
|
|
|
|
Convenience
translation into US $ in millions (Unaudited)
|
|
|
|
|
|
|
Convenience
translation into US $ in millions (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross revenues
|
77,719
|
|
90,070
|
|
1,836
|
|
|
149,625
|
|
175,000
|
|
3,568
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
(53,270)
|
|
(64,979)
|
|
(1,325)
|
|
|
(101,917)
|
|
(125,000)
|
|
(2,548)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
24,449
|
|
25,091
|
|
512
|
|
|
47,708
|
|
50,000
|
|
1,019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling and marketing
expenses
|
(5,751)
|
|
(6,510)
|
|
(133)
|
|
|
(11,137)
|
|
(12,794)
|
|
(261)
|
|
General and administrative
expenses
|
(4,251)
|
|
(4,578)
|
|
(93)
|
|
|
(8,090)
|
|
(8,961)
|
|
(183)
|
|
Foreign exchange gains/(losses),
net
|
(414)
|
|
875
|
|
18
|
|
|
45
|
|
1,586
|
|
32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Results from operating
activities
|
14,033
|
|
14,878
|
|
303
|
|
|
28,526
|
|
29,831
|
|
608
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance expenses
|
(467)
|
|
(1,250)
|
|
(25)
|
|
|
(870)
|
|
(2,010)
|
|
(41)
|
|
Finance and other
income
|
1,422
|
|
2,113
|
|
43
|
|
|
2,773
|
|
4,305
|
|
88
|
|
Finance income/(expenses),
net
|
439
|
|
440
|
|
9
|
|
|
836
|
|
1,221
|
|
25
|
|
Other income / (expenses),
net
|
517
|
|
423
|
|
9
|
|
|
1,067
|
|
1,074
|
|
22
|
|
Share of profits of equity
accounted investee
|
192
|
|
99
|
|
2
|
|
|
349
|
|
208
|
|
4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
15,180
|
|
15,840
|
|
323
|
|
|
30,778
|
|
32,334
|
|
659
|
|
|
|
|
|
|
|
|
|
|
|
-
|
|
|
|
Income tax expense
|
(2,183)
|
|
(2,841)
|
|
(58)
|
|
|
(4,528)
|
|
(5,937)
|
|
(121)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the
period
|
12,997
|
|
12,999
|
|
265
|
|
|
26,250
|
|
26,397
|
|
538
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable to:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity holders of the
company
|
12,849
|
|
13,009
|
|
265
|
|
|
26,035
|
|
26,358
|
|
537
|
|
Non-controlling
interest
|
148
|
|
(10)
|
|
(0)
|
|
|
215
|
|
39
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the
period
|
12,997
|
|
12,999
|
|
265
|
|
|
26,250
|
|
26,397
|
|
538
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per equity
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
5.28
|
|
5.33
|
|
0.11
|
|
|
10.69
|
|
10.80
|
|
0.22
|
|
Diluted
|
5.25
|
|
5.30
|
|
0.11
|
|
|
10.66
|
|
10.74
|
|
0.22
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of
equity shares used in computing earnings per equity
share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
2,435,417,820
|
|
2,441,538,183
|
|
2,441,538,183
|
|
|
2,434,528,098
|
|
2,440,770,037
|
|
2,440,770,037
|
|
Diluted
|
2,445,703,913
|
|
2,452,203,157
|
|
2,452,203,157
|
|
|
2,442,200,976
|
|
2,454,030,952
|
|
2,454,030,952
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional
Information
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services
|
57,471
|
|
68,294
|
|
1,392
|
|
|
112,473
|
|
132,341
|
|
2,698
|
|
IT Products
|
10,693
|
|
10,008
|
|
204
|
|
|
19,013
|
|
20,066
|
|
409
|
|
IT Services &
Products
|
68,164
|
|
78,302
|
|
1,596
|
|
|
131,486
|
|
152,407
|
|
3,107
|
|
Consumer Care and
Lighting
|
6,651
|
|
8,002
|
|
163
|
|
|
13,064
|
|
15,547
|
|
317
|
|
Others
|
2,490
|
|
4,641
|
|
95
|
|
|
5,120
|
|
8,632
|
|
176
|
|
Total
|
77,305
|
|
90,945
|
|
1,854
|
|
|
149,670
|
|
176,586
|
|
3,600
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services
|
12,746
|
|
13,640
|
|
278
|
|
|
26,318
|
|
27,708
|
|
565
|
|
IT Products
|
533
|
|
451
|
|
9
|
|
|
869
|
|
874
|
|
18
|
|
IT Services &
Products
|
13,279
|
|
14,091
|
|
287
|
|
|
27,187
|
|
28,582
|
|
583
|
|
Consumer Care and
Lighting
|
832
|
|
882
|
|
18
|
|
|
1,725
|
|
1,777
|
|
36
|
|
Others
|
(78)
|
|
(95)
|
|
(2)
|
|
|
(387)
|
|
(528)
|
|
(11)
|
|
Total
|
14,033
|
|
14,878
|
|
303
|
|
|
28,526
|
|
29,831
|
|
608
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of adjusted
Non-GAAP profit to profit as per IFRS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the period
attributable to Equity holders of the Company
|
12,849
|
|
13,009
|
|
265
|
|
|
26,035
|
|
26,358
|
|
537
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments :
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accelerated amortization of
stock options that vest in a graded manner
|
(88)
|
|
49
|
|
1
|
|
|
(211)
|
|
(124)
|
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP adjusted
profit
|
12,761
|
|
13,058
|
|
266
|
|
|
25,823
|
|
26,234
|
|
535
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Non-GAAP
Constant Currency IT Services Revenue to IT Services Revenue as per
IFRS ($MN)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services Revenue as per
IFRS
|
1,472
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Foreign currency
exchange movement
|
(13)
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Constant Currency IT
Services Revenue based on previous quarter exchange
rates
|
1,485
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services Revenue as per
IFRS
|
1,472
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of Foreign currency
exchange movement
|
27
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Constant Currency IT
Services Revenue based on previous year exchange rates
|
1,445
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOURCE Wipro Limited