Wipro Ltd 6-K, filed Jul 22, 2026
Wipro Ltd (WIT)
About this 6-K
Wipro Ltd filed this 6-K on July 22, 2026.
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 July 2026
Commission File Number 001-16139
Wipro Limited
(Translation of Registrant’s name into English)
Doddakannelli
Sarjapur Road
Bengaluru, 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 of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
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 June 30, 2026. The following information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
On July 16, 2026, the Company announced its results of operations for the quarter ended June 30, 2026. 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 June 30, 2026, 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 June 30, 2026, 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 June 30, 2026, 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 data sheet containing operating metrics for the quarter ended June 30, 2026. 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 authorized.
| WIPRO LIMITED |
| /s/ Aparna Chandrashekar Iyer |
| Aparna Chandrashekar Iyer |
| Chief Financial Officer |
| Dated: July 22, 2026 |
INDEX TO EXHIBITS
Exhibit 99.1
FOR IMMEDIATE RELEASE
Wipro announces results for the Quarter ended June 30, 2026
Revenue increased 0.9% YoY in CC
Large deal bookings at $1.6 Bn, grew 12.9% QoQ, including 13 large deals in Q1
Net income grew 0.6% YoY; Operating cash flow at 98% of Net income
EAST BRUNSWICK, N.J. | BANGALORE, India – July 16, 2026: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading AI-powered technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended June 30, 2026.
Highlights of the Results
Results for the Quarter ended June 30, 2026:
| 1. | Gross revenue at ₹244.8 billion ($2,585.9 million1), an increase of 1.0% QoQ and 10.6% YoY. |
| 2. | IT services segment revenue was at $2,614.5 million, decrease of -1.4% QoQ and increase of 1.0% YoY. |
| 3. | Non-GAAP constant currency2 IT Services segment revenue decreased 1.2% QoQ and increased 0.9% YoY. |
| 4. | Total bookings3 was at $3,370 million, down by 2.4% QoQ in constant currency2. Large deal bookings4 was at $1,626 million, increase of 12.9% QoQ in constant currency2. |
| 5. | IT services operating margin5 for Q1’27 was at 16.0%, decrease of 1.3% QoQ and 1.2% YoY. |
| 6. | Net income for the quarter was at ₹33.6 billion ($354.6million1), decrease of 4.7% QoQ and increase of 0.6% YoY. |
| 7. | Earnings per share for the quarter at ₹3.20 ($0.031), decrease of 4.2% QoQ and increase of 0.6% YoY. |
| 8. | Operating cash flows of ₹32.9 billion ($348 million1), increase of 3.6% QoQ and at 98.0% of net income for the quarter. |
| 9. | Voluntary attrition was at 13.9% on a trailing 12-month basis. |
| 10. | Declared interim dividend of ₹2 ($0.021) per equity share/ADS. |
Outlook for the Quarter ending September 30, 2026
We expect revenue from our IT Services business segment to be in the range of $2,574 million to $2,627 million*. This translates to sequential guidance of (-)1.5% to (+)0.5% in constant currency terms.
| * | Outlook for the Quarter ending September 30, 2026, is based on the following exchange rates: GBP/USD at 1.34, Euro/USD at 1.16, AUD/USD at 0.71, USD/INR at 94.50 and CAD/USD at 0.71 |
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Performance for the Quarter ended June 30, 2026
Srini Pallia, CEO and Managing Director, said, “Clients are moving beyond technology modernization to AI-enabled operating models that improve quality, resilience, and productivity. Wipro’s consulting-led, AI-powered approach helps clients embed AI at the core of their business, and these engagements reflect both the breadth of our capabilities and the trust clients place in us as a transformation partner.”
Aparna Iyer, Chief Financial Officer, said, “As we navigate an evolving technology landscape, we remain focused on investing in our people and strategic priority areas. While these investments may create some near-term margin volatility, it sets a strong foundation for future growth. Cash flow remained robust, with operating cash flow at 98% of net income for the quarter. We are also pleased to share that the Board has declared an interim dividend of ₹2 per share. Including this dividend and payouts made over the past year, we would have returned more than $3 Bn in cash to our shareholders while continuing to invest steadily for growth.”
| 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 = ₹94.66, as published by the Federal Reserve Board of Governors on June 30, 2026. However, the realized exchange rate in our IT Services business segment for the quarter ended June 30, 2026, was US$1= ₹93.53 |
| 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 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. |
Highlights of Strategic Deal Wins
In the first quarter, Wipro continued to win large and strategic deals across industries. Key highlights include:
| 1. | A global chemicals company has selected Wipro for a multi-year deal to modernize its IT operations. As part of the engagement, Wipro will use its consulting-led approach to consolidate multiple vendors into a single, integrated operating model and manage infrastructure and application services end-to-end. Powered by Wipro Intelligence™, the solution will embed digital agents, AIOps and GenAI-enabled capabilities to increase automation, prevent issues, and improve resolution times. This will help the client deliver structural cost optimization, enhance service stability, increase transparency, and build a scalable, future-ready IT operating model. |
| 2. | One of the world’s largest global technology companies has renewed its multi-year engagement with Wipro to innovate in the arena of Geospatial Data Operations and mapping. Wipro will provide end-to-end support for the Geospatial Data Operations ecosystem, through a scalable, AI-powered global delivery model. Leveraging AI-enabled automation, analytics, and data-driven insights, through a robust governance framework, Wipro will drive operational resilience, improve quality, and accelerate product deployment for the client. Wipro will enable the client to maximize productivity and enhance decision making in an evolving business environment. |
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| 3. | A leading global technology provider has expanded its decades-long engagement with Wipro to enhance the quality and reliability of its products that support millions of users worldwide. Wipro will deliver AI-infused quality engineering services, leveraging automation and intelligent testing capabilities, to accelerate development cycles. The engagement builds on Wipro’s deep domain expertise and longstanding role in supporting the client’s engineering ecosystem. This collaboration will help reduce time to market, improve operational efficiency, and strengthen the reliability of critical software releases. |
| 4. | A leading US-based health insurer has extended and expanded its long-standing engagement with Wipro to enhance digital workplace and end-user support services across its enterprise. Wipro will deploy a unified operating model designed to ensure business continuity and operational efficiency. Leveraging automation and AI-infused capabilities, Wipro will further enhance service delivery, improve responsiveness, and enhance employee technology experience. This renewal will help the client maintain reliable, scalable workplace operations while supporting future modernization initiatives and productivity improvements. |
| 5. | A leading US-based hospital network has selected Wipro to provide integrated application management and enterprise IT transformation. Wipro will deliver a comprehensive managed services model spanning operational support, governance, and security, enabling the client to improve operational efficiency, service reliability, and accelerate continuous innovation. Leveraging its AI-delivery platforms, WINGS and WEGA, Wipro will establish a strategic AI and Agentic AI roadmap aligned to the client’s business objectives, to drive intelligent automation, improved workforce productivity, and measurable business outcomes. |
| 6. | A global US-based specialty Chemicals company has expanded its relationship with Wipro to lead an AI-first transformation of its business and technology landscape. Under the new agreement, Wipro will provide end-to-end support for the client’s global Enterprise applications, as well as business processes. Wipro will deploy its proprietary WINGS AI platform to introduce a unified operating model, aimed at simplifying and optimizing operations. AI will be the cornerstone of the program, driving intelligent automation, and enabling smarter, data-driven decision-making across all workflows. This transformation will unlock significant efficiencies, reduce complexity, and accelerate value for the client - further reinforcing the long-standing engagement between the two companies. |
| 7. | A leading Australian health and community services provider has selected Wipro to modernize its technology landscape and improve reliability and performance of services that support frontline care and community operations. Through a consulting-led engagement, Wipro will take end-to-end ownership of the client’s IT services, bringing applications, cloud, networks, and workplace support into a more integrated and accountable delivery model. The engagement will also embed intelligent automation and proactive monitoring to improve issue resolution, strengthen service quality, and create a simpler, more seamless technology experience for employees. This transformation will help the client enhance operational resilience, improve user experience, optimize costs, and build a more scalable, future-ready model for continuous innovation. |
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| 8. | A leading insurer in Australia and New Zealand has renewed and expanded its strategic partnership with Wipro through a multi-year outcome-based engagement to transform and manage its core insurance application landscape. Through a consulting-led and AI-powered delivery model, Wipro will drive AI-led intelligent automation, operational efficiency, and continuous cost optimization across policy, claims, and customer communications platforms. The engagement also establishes a co-innovation framework and AI capability program designed to enhance business agility, strengthen resilience, and accelerate long-term digital transformation. |
| 9. | One of the world’s largest designer and supplier of apparel selected Wipro as the primary partner for supply chain and planning tech to support end-to-end Warehouse Management System (WMS) operations as part of a broader enterprise transformation program. Wipro will now power its global distribution center (DC) operations across both B2B and B2C channels. Leveraging its deep consulting expertise in Supply Chain Domain and Execution, Wipro will help the client streamline warehouse management and distribution operations. This engagement will enable a more efficient and scalable operating environment for the client driving improved efficiency, reduced complexity, and cost optimization across the client’s supply chain. |
| 10. | A leading global energy company has engaged Capco, a Wipro company, to strengthen its engineering, planning, and business management capabilities across critical offshore operations. Capco will provide specialized expertise to support core engineering and operational functions, working closely with stakeholders to streamline execution and enhance management effectiveness. This engagement will improve operational efficiency, strengthen performance visibility and governance, and enable more informed decision-making across one of the client’s most strategic operating environments. |
| 11. | A leading US housing finance institution has engaged Capco, a Wipro company, to support a large-scale data modernization program to simplify access to trusted business data, while reducing reliance on legacy platforms. Leveraging its decades-long relationship with the client, Capco will help address the complexity of managing a multi-year transition across systems, stakeholders, and regulatory requirements while ensuring continuity of critical reporting and operations. Capco will lead program execution, coordinate stakeholders, and support data operations, transition planning, and business adoption to enable a more streamlined and modern data environment. This engagement will help improve data accessibility, reduce operational complexity and risk, and create a scalable foundation for more efficient and informed decision-making. |
| 12. | A leading global technology enterprise has selected Wipro for a strategic AI-first modern delivery model to accelerate digital modernization. This enterprise-wide program will transform the software development lifecycle across core enterprise packaged platforms. Leveraging WEGA — part of Wipro Intelligence™ — this initiative will embed generative and agentic AI into the software development lifecycle to streamline processes, enhance developer productivity, and accelerate digital transformation across commerce, supply chain, payments, and enterprise integration functions. This AI-native model will enable predictable transformation while boosting productivity, enhancing quality, and shortening time to market. |
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Analyst Recognition
| 1. | Wipro was ranked as a Leader in ISG Provider Lens® - Semiconductor Industry Services and Solutions 2026 - US, Europe (all quadrants) |
| 2. | Wipro was recognized as a Leader in Avasant’s Airlines and Airports Digital Services 2026 RadarView™ |
| 3. | Wipro was featured as a Leader in Avasant’s Banking Digital Services 2026 RadarView™ |
| 4. | Wipro was positioned as a Leader in Avasant’s High-Tech Digital Services 2026 RadarView™ |
| 5. | Wipro was recognized as a Leader in Everest Group’s Healthcare Payer Digital Services PEAK Matrix® Assessment 2026 |
| 6. | Wipro was positioned as a Leader in Everest Group’s Google Cloud Services PEAK Matrix® Assessment 2026 |
| 7. | Wipro was ranked as a Leader in Everest Group’s Oracle Cloud Applications Services PEAK Matrix® Assessment 2026 |
| 8. | Wipro was recognized as a Horizon 3 – Market Leader in the HFS Horizons: SAP S/4HANA Transformation Services, 2026 report |
| 9. | Wipro was featured as a Leader in ISG Provider Lens® - Global Capability Center (GCC) Services 2026 - Optimization and Enhancement - Global |
| 10. | Wipro was recognized as a Leader in ISG Provider Lens® - Digital Engineering Services - US, Europe (all quadrants) |
| 11. | Wipro was ranked as a Leader in ISG Provider Lens® - Life Sciences Digital Services 2026 - Global (all quadrants) |
| 12. | Wipro was ranked as a Leader in Avasant’s Supply Chain Operations Business Process Transformation 2026 RadarView™ |
IT Products
| 1. | IT Products segment revenue for the quarter was ₹ 1.0 billion ($10.9 million1) |
| 2. | IT Products segment results for the quarter were ₹ 0.02 billion ($0.2 million1) |
Please refer to the table on page 12 for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis.
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 12 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.
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Results for the Quarter ended June 30, 2026, 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://event.choruscall.com/mediaframe/webcast.html?webcastid=dwiGwjsR
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 AI-powered technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our consulting-led approach and the Wipro Intelligence™ unified suite of AI-powered platforms, solutions and transformative offerings, we help clients realize their boldest ambitions to build intelligent and sustainable businesses. The Wipro Innovation Network – part of the Wipro Intelligence™ suite – underpins our commitment to client-centric co-innovation and co-creation by bringing together capabilities from the innovation labs and partner labs, academia, and global tech communities. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.
| Contact for Investor Relations | Contact for Media & Press | |
| Abhishek Jain | Dinesh Joshi | |
| Phone: +91-80-6142 6143 | Phone: +91 92052-64001 | |
| 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
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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)
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WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(₹ in millions, except share and per share data, unless otherwise stated)
| As at March 31, 2026 | As at June 30, 2026 | |||||||||||
|
|
|
Convenience translation into U.S. Dollar in millions (unaudited) at the rate of ₹ 94.66 |
||||||||||
| ASSETS |
||||||||||||
| Goodwill |
387,399 | 404,360 | 4,272 | |||||||||
| Intangible assets |
29,176 | 51,902 | 548 | |||||||||
| Property, plant and equipment |
81,787 | 81,359 | 859 | |||||||||
| Right-of-Use assets |
28,287 | 27,883 | 295 | |||||||||
| Financial assets |
||||||||||||
| Investments |
28,053 | 29,181 | 308 | |||||||||
| Trade receivables |
349 | 348 | 4 | |||||||||
| Unbilled receivables |
7,433 | 8,806 | 93 | |||||||||
| Other financial assets |
6,259 | 6,644 | 70 | |||||||||
| Investments accounted for using the equity method |
2,126 | 2,119 | 22 | |||||||||
| Deferred tax assets |
5,242 | 4,359 | 46 | |||||||||
| Contract assets |
— | 160 | 2 | |||||||||
| Non-current tax assets |
7,787 | 7,617 | 80 | |||||||||
| Other non-current assets |
9,010 | 9,089 | 96 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total non-current assets |
592,908 | 633,827 | 6,695 | |||||||||
|
|
|
|
|
|
|
|||||||
| Inventories |
517 | 869 | 9 | |||||||||
| Financial assets |
||||||||||||
| Derivative assets |
888 | 1,925 | 20 | |||||||||
| Investments |
437,680 | 307,281 | 3,246 | |||||||||
| Cash and cash equivalents |
105,555 | 88,444 | 934 | |||||||||
| Trade receivables |
135,901 | 132,708 | 1,402 | |||||||||
| Unbilled receivables |
76,823 | 79,504 | 840 | |||||||||
| Other financial assets |
10,245 | 12,738 | 135 | |||||||||
| Contract assets |
14,819 | 15,171 | 161 | |||||||||
| Current tax assets |
10,762 | 10,996 | 116 | |||||||||
| Other current assets |
33,164 | 33,630 | 355 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total current assets |
826,354 | 683,266 | 7,218 | |||||||||
|
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|
|
|
|
|
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| TOTAL ASSETS |
1,419,262 | 1,317,093 | 13,913 | |||||||||
|
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|
|
|
|
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| EQUITY |
||||||||||||
| Share capital |
20,977 | 19,807 | 209 | |||||||||
| Share premium |
6,158 | 1,166 | 12 | |||||||||
| Retained earnings |
735,057 | 626,854 | 6,622 | |||||||||
| Share-based payment reserve |
7,920 | 5,056 | 53 | |||||||||
| Special Economic Zone Re-investment reserve |
25,966 | 23,947 | 253 | |||||||||
| Other components of equity |
89,290 | 97,880 | 1,034 | |||||||||
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|
|
|
|
|
|
|||||||
| Equity attributable to the equity holders of the Company |
885,368 | 774,710 | 8,183 | |||||||||
| Non-controlling interests |
2,509 | 2,059 | 22 | |||||||||
|
|
|
|
|
|
|
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| TOTAL EQUITY |
887,877 | 776,769 | 8,205 | |||||||||
|
|
|
|
|
|
|
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| LIABILITIES |
||||||||||||
| Financial liabilities |
||||||||||||
| Loans and borrowings |
1,962 | — | — | |||||||||
| Lease liabilities |
26,327 | 26,326 | 278 | |||||||||
| Accrued expenses |
4,394 | 4,320 | 46 | |||||||||
| Other financial liabilities |
6,743 | 8,299 | 88 | |||||||||
| Deferred tax liabilities |
17,266 | 21,918 | 232 | |||||||||
| Non-current tax liabilities |
48,195 | 45,822 | 484 | |||||||||
| Other non-current liabilities |
23,042 | 24,832 | 262 | |||||||||
| Provisions |
224 | 144 | 2 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total non-current liabilities |
128,153 | 131,661 | 1,392 | |||||||||
|
|
|
|
|
|
|
|||||||
| Financial liabilities |
||||||||||||
| Loans, borrowings and bank overdrafts |
165,912 | 177,649 | 1,877 | |||||||||
| Lease liabilities |
8,709 | 8,847 | 93 | |||||||||
| Derivative liabilities |
10,978 | 4,645 | 49 | |||||||||
| Trade payables and accrued expenses |
94,924 | 94,219 | 995 | |||||||||
| Other financial liabilities |
11,357 | 4,305 | 45 | |||||||||
| Contract liabilities |
25,434 | 22,927 | 242 | |||||||||
| Current tax liabilities |
49,621 | 56,551 | 597 | |||||||||
| Other current liabilities |
34,801 | 38,300 | 405 | |||||||||
| Provisions |
1,496 | 1,220 | 13 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total current liabilities |
403,232 | 408,663 | 4,316 | |||||||||
|
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|
|
|
|
|
|||||||
| TOTAL LIABILITIES |
531,385 | 540,324 | 5,708 | |||||||||
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|
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| TOTAL EQUITY AND LIABILITIES |
1,419,262 | 1,317,093 | 13,913 | |||||||||
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WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(₹ in millions, except share and per share data, unless otherwise stated)
| Three months ended June 30, | ||||||||||||
| 2025 | 2026 | 2026 | ||||||||||
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|
|
Convenience translation into U.S. Dollar in millions (unaudited) at the rate of ₹ 94.66 |
||||||||||
| Revenues |
221,346 | 244,786 | 2,586 | |||||||||
| Cost of revenues |
(157,247 | ) | (174,900 | ) | (1,848 | ) | ||||||
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| Gross profit |
64,099 | 69,886 | 738 | |||||||||
| Selling and marketing expenses |
(15,285 | ) | (16,496 | ) | (174 | ) | ||||||
| General and administrative expenses |
(13,272 | ) | (14,963 | ) | (158 | ) | ||||||
| Foreign exchange gains/(losses), net |
182 | 779 | 8 | |||||||||
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| Results from operating activities |
35,724 | 39,206 | 414 | |||||||||
| Finance expenses |
(3,608 | ) | (4,728 | ) | (50 | ) | ||||||
| Finance and other income |
10,417 | 8,872 | 94 | |||||||||
| Share of net profit/ (loss) of associate and joint venture accounted for using the equity method |
50 | (5 | ) | ^ | ||||||||
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| Profit before tax |
42,583 | 43,345 | 458 | |||||||||
| Income tax expense |
(9,218 | ) | (9,782 | ) | (103 | ) | ||||||
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| Profit for the period |
33,365 | 33,563 | 355 | |||||||||
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| Profit attributable to: |
||||||||||||
| Equity holders of the Company |
33,304 | 33,520 | 355 | |||||||||
| Non-controlling interests |
61 | 43 | ^ | |||||||||
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|
|
|
|
|
|||||||
| Profit for the period |
33,365 | 33,563 | 355 | |||||||||
|
|
|
|
|
|
|
|||||||
| Earnings per equity share: |
||||||||||||
| Attributable to equity holders of the Company |
||||||||||||
| Basic |
3.18 | 3.20 | 0.03 | |||||||||
| Diluted |
3.17 | 3.20 | 0.03 | |||||||||
| Weighted average number of equity shares used in computing earnings per equity share |
||||||||||||
| Basic |
10,472,085,808 | 10,459,341,744 | 10,459,341,744 | |||||||||
| Diluted |
10,492,102,015 | 10,475,511,031 | 10,475,511,031 | |||||||||
| ^ | Value is less than 0.5 |
9
Information on reportable segments for the three months ended June 30, 2026, March 31, 2026, June 30, 2025, and year ended March 31, 2026 are as follows:
| Particulars |
Three months ended | Year ended | ||||||||||||||
| June 30, 2026 |
March 31, 2026 |
June 30, 2025 |
March 31, 2026 |
|||||||||||||
| Audited | Audited | Audited | Audited | |||||||||||||
| Segment revenue |
||||||||||||||||
| IT Services |
||||||||||||||||
| Americas 1 |
86,087 | 85,414 | 79,039 | 328,118 | ||||||||||||
| Americas 2 |
62,119 | 61,718 | 61,128 | 246,530 | ||||||||||||
| Europe |
66,569 | 65,412 | 56,817 | 244,165 | ||||||||||||
| APMEA |
29,754 | 27,623 | 23,816 | 102,340 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total of IT Services |
244,529 | 240,167 | 220,800 | 921,153 | ||||||||||||
| IT Products |
1,036 | 2,521 | 728 | 6,940 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total segment revenue |
245,565 | 242,688 | 221,528 | 928,093 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Segment result |
||||||||||||||||
| IT Services |
||||||||||||||||
| Americas 1 |
16,691 | 18,089 | 16,316 | 69,852 | ||||||||||||
| Americas 2 |
9,874 | 10,150 | 12,063 | 46,182 | ||||||||||||
| Europe |
9,047 | 10,092 | 6,026 | 31,083 | ||||||||||||
| APMEA |
4,362 | 5,085 | 2,979 | 14,955 | ||||||||||||
| Unallocated |
(787 | ) | (1,899 | ) | 750 | (3,426 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total of IT Services |
39,187 | 41,517 | 38,134 | 158,646 | ||||||||||||
| IT Products |
16 | 211 | 20 | 559 | ||||||||||||
| Reconciling Items |
3 | 235 | (2,430 | ) | (7,954 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total segment result |
39,206 | 41,963 | 35,724 | 151,251 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Finance expenses |
(4,728 | ) | (3,701 | ) | (3,608 | ) | (14,577 | ) | ||||||||
| Finance and other income |
8,872 | 8,387 | 10,417 | 36,491 | ||||||||||||
| Share of net profit/ (loss) of associate and joint venture accounted for using the equity method |
(5 | ) | 27 | 50 | 257 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before tax |
43,345 | 46,676 | 42,583 | 173,422 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
10
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 organized by industry sectors, while Europe and APMEA are organized by countries.
Americas 1 includes the following industry sectors in the United States of America, Latin America and Canada: Communication, Media and Networks, Technology Software and Gaming, Technology New Age, Health and Consumer. Americas 2 includes the following industry sectors in the United States of America, Latin America and Canada: Banking and Financial Services, Energy, Manufacturing and Resources and Capital Markets and Insurance. Europe consists of the United Kingdom and Ireland, Switzerland, Germany and Western Europe. APMEA consists of Australia and New Zealand, Southeast Asia, Japan, India, the Middle East, and Africa.
Effective April 1, 2026, the customers across Latin America and Canada are aligned with the respective industry sectors in Americas 1 and Americas 2. Additionally, Hi-tech sector and airports as a sub-sector for Americas are now subsumed under existing sectors of Americas 1.
Prior period comparables are readjusted to reflect this change.
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.
11
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 June 30, 2026 | ||||
| IT Services Revenue as per IFRS |
$ | 2,614.5 | ||
| Effect of Foreign currency exchange movement |
$ | 4.6 | ||
|
|
|
|||
| Non-GAAP Constant Currency IT Services Revenue based on previous quarter exchange rates |
$ | 2,619.1 | ||
|
|
|
|||
| Three Months ended June 30, 2026 | ||||
| IT Services Revenue as per IFRS |
$ | 2,614.5 | ||
| Effect of Foreign currency exchange movement |
$ | (4.0 | ) | |
|
|
|
|||
| Non-GAAP Constant Currency IT Services Revenue based on exchange rates of comparable period in previous year |
$ | 2610.5 | ||
Reconciliation of Free Cash Flow for three months ended June 30, 2026
Amounts in INR Mn
| Three months ended June 30, 2026 |
||||
| Net Income for the period [A] |
33,563 | |||
| Computation of Free Cash Flow |
||||
| Net cash generated from operating activities [B] |
32,880 | |||
| Add/ (deduct) cash inflow/ (outflow)on: |
||||
| Purchase of property, plant and equipment |
(3,379 | ) | ||
| Proceeds from sale of property, plant and equipment |
116 | |||
| Free Cash Flow [C] |
29,617 | |||
| Operating Cash Flow as percentage of Net Income [B/A] |
98.0 | % | ||
| Free Cash Flow as percentage of Net Income [C/A] |
88.2 | % | ||
*****
12
Exhibit 99.2
Exhibit 99.3
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS UNDER IFRS
AS AT AND FOR THE THREE MONTHS ENDED JUNE 30, 2026
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(₹ in millions, except share and per share data, unless otherwise stated)
| Notes | As at March 31, 2026 | As at June 30, 2026 | ||||||||||||||
| Convenience translation into U.S. Dollar in millions (unaudited) Refer to Note 2(iii) |
||||||||||||||||
| ASSETS |
||||||||||||||||
| Goodwill |
6 | 387,399 | 404,360 | 4,272 | ||||||||||||
| Intangible assets |
6 | 29,176 | 51,902 | 548 | ||||||||||||
| Property, plant and equipment |
4 | 81,787 | 81,359 | 859 | ||||||||||||
| Right-of-Use assets |
5 | 28,287 | 27,883 | 295 | ||||||||||||
| Financial assets |
||||||||||||||||
| Investments |
8 | 28,053 | 29,181 | 308 | ||||||||||||
| Trade receivables |
349 | 348 | 4 | |||||||||||||
| Unbilled receivables |
7,433 | 8,806 | 93 | |||||||||||||
| Other financial assets |
11 | 6,259 | 6,644 | 70 | ||||||||||||
| Investments accounted for using the equity method |
2,126 | 2,119 | 22 | |||||||||||||
| Deferred tax assets |
5,242 | 4,359 | 46 | |||||||||||||
| Contract assets |
— | 160 | 2 | |||||||||||||
| Non-current tax assets |
7,787 | 7,617 | 80 | |||||||||||||
| Other non-current assets |
12 | 9,010 | 9,089 | 96 | ||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Total non-current assets |
592,908 | 633,827 | 6,695 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Inventories |
9 | 517 | 869 | 9 | ||||||||||||
| Financial assets |
||||||||||||||||
| Derivative assets |
18 | 888 | 1,925 | 20 | ||||||||||||
| Investments |
8 | 437,680 | 307,281 | 3,246 | ||||||||||||
| Cash and cash equivalents |
10 | 105,555 | 88,444 | 934 | ||||||||||||
| Trade receivables |
135,901 | 132,708 | 1,402 | |||||||||||||
| Unbilled receivables |
76,823 | 79,504 | 840 | |||||||||||||
| Other financial assets |
11 | 10,245 | 12,738 | 135 | ||||||||||||
| Contract assets |
14,819 | 15,171 | 161 | |||||||||||||
| Current tax assets |
10,762 | 10,996 | 116 | |||||||||||||
| Other current assets |
12 | 33,164 | 33,630 | 355 | ||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Total current assets |
826,354 | 683,266 | 7,218 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| TOTAL ASSETS |
1,419,262 | 1,317,093 | 13,913 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| EQUITY |
||||||||||||||||
| Share capital |
20,977 | 19,807 | 209 | |||||||||||||
| Share premium |
6,158 | 1,166 | 12 | |||||||||||||
| Retained earnings |
735,057 | 626,854 | 6,622 | |||||||||||||
| Share-based payment reserve |
7,920 | 5,056 | 53 | |||||||||||||
| Special Economic Zone Re-investment reserve |
25,966 | 23,947 | 253 | |||||||||||||
| Other components of equity |
89,290 | 97,880 | 1,034 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Equity attributable to the equity holders of the Company |
|
885,368 | 774,710 | 8,183 | ||||||||||||
| Non-controlling interests |
2,509 | 2,059 | 22 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| TOTAL EQUITY |
887,877 | 776,769 | 8,205 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| LIABILITIES |
||||||||||||||||
| Financial liabilities |
||||||||||||||||
| Loans and borrowings |
13 | 1,962 | — | — | ||||||||||||
| Lease liabilities |
26,327 | 26,326 | 278 | |||||||||||||
| Accrued expenses |
14 | 4,394 | 4,320 | 46 | ||||||||||||
| Other financial liabilities |
15 | 6,743 | 8,299 | 88 | ||||||||||||
| Deferred tax liabilities |
17,266 | 21,918 | 232 | |||||||||||||
| Non-current tax liabilities |
48,195 | 45,822 | 484 | |||||||||||||
| Other non-current liabilities |
16 | 23,042 | 24,832 | 262 | ||||||||||||
| Provisions |
17 | 224 | 144 | 2 | ||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Total non-current liabilities |
128,153 | 131,661 | 1,392 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Financial liabilities |
||||||||||||||||
| Loans, borrowings and bank overdrafts |
13 | 165,912 | 177,649 | 1,877 | ||||||||||||
| Lease liabilities |
8,709 | 8,847 | 93 | |||||||||||||
| Derivative liabilities |
18 | 10,978 | 4,645 | 49 | ||||||||||||
| Trade payables and accrued expenses |
14 | 94,924 | 94,219 | 995 | ||||||||||||
| Other financial liabilities |
15 | 11,357 | 4,305 | 45 | ||||||||||||
| Contract liabilities |
25,434 | 22,927 | 242 | |||||||||||||
| Current tax liabilities |
49,621 | 56,551 | 597 | |||||||||||||
| Other current liabilities |
16 | 34,801 | 38,300 | 405 | ||||||||||||
| Provisions |
17 | 1,496 | 1,220 | 13 | ||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Total current liabilities |
403,232 | 408,663 | 4,316 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| TOTAL LIABILITIES |
531,385 | 540,324 | 5,708 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| TOTAL EQUITY AND LIABILITIES |
1,419,262 | 1,317,093 | 13,913 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
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 Chartered Accountants |
Rishad A. Premji Chairman (DIN: 02983899) |
Deepak M. Satwalekar (DIN: 00009627) |
Srinivas Pallia (DIN: 10574442) | |||
| Anand Subramanian Partner Membership No.: 110815 |
Aparna C. Iyer Chief Financial Officer |
M. Sanaulla Khan Company Secretary Membership No.: F4129 | ||||
| Bengaluru July 16, 2026 |
||||||
1
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(₹ in millions, except share and per share data, unless otherwise stated)
| Three months ended June 30, | ||||||||||||||||
| Notes | 2025 | 2026 | 2026 | |||||||||||||
|
|
|
Convenience translation into U.S. Dollar in millions (unaudited) Refer to Note 2(iii) |
||||||||||||||
| Revenues |
21 | 221,346 | 244,786 | 2,586 | ||||||||||||
| Cost of revenues |
22 | (157,247 | ) | (174,900 | ) | (1,848 | ) | |||||||||
|
|
|
|
|
|
|
|||||||||||
| Gross profit |
64,099 | 69,886 | 738 | |||||||||||||
| Selling and marketing expenses |
22 | (15,285 | ) | (16,496 | ) | (174 | ) | |||||||||
| General and administrative expenses |
22 | (13,272 | ) | (14,963 | ) | (158 | ) | |||||||||
| Foreign exchange gains/(losses), net |
24 | 182 | 779 | 8 | ||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Results from operating activities |
35,724 | 39,206 | 414 | |||||||||||||
| Finance expenses |
23 | (3,608 | ) | (4,728 | ) | (50 | ) | |||||||||
| Finance and other income |
24 | 10,417 | 8,872 | 94 | ||||||||||||
| Share of net profit/ (loss) of associate and joint venture accounted for using the equity method |
50 | (5 | ) | ^ | ||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Profit before tax |
42,583 | 43,345 | 458 | |||||||||||||
| Income tax expense |
20 | (9,218 | ) | (9,782 | ) | (103 | ) | |||||||||
|
|
|
|
|
|
|
|||||||||||
| Profit for the period |
33,365 | 33,563 | 355 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Profit attributable to: |
||||||||||||||||
| Equity holders of the Company |
33,304 | 33,520 | 355 | |||||||||||||
| Non-controlling interests |
61 | 43 | ^ | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Profit for the period |
33,365 | 33,563 | 355 | |||||||||||||
|
|
|
|
|
|
|
|||||||||||
| Earnings per equity share: |
25 | |||||||||||||||
| Attributable to equity holders of the Company |
||||||||||||||||
| Basic |
3.18 | 3.20 | 0.03 | |||||||||||||
| Diluted |
3.17 | 3.20 | 0.03 | |||||||||||||
| Weighted average number of equity shares used in computing earnings per equity share |
||||||||||||||||
| Basic |
10,472,085,808 | 10,459,341,744 | 10,459,341,744 | |||||||||||||
| Diluted |
10,492,102,015 | 10,475,511,031 | 10,475,511,031 | |||||||||||||
^ 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 Chartered Accountants |
Rishad A. Premji Chairman (DIN: 02983899) |
Deepak M. Satwalekar (DIN: 00009627) |
Srinivas Pallia Chief Executive Officer and Managing
Director (DIN: 10574442) | |||
| Anand Subramanian Partner Membership No.: 110815 |
Aparna C. Iyer Chief Financial Officer |
M. Sanaulla Khan Company Secretary Membership No.: F4129 | ||||
| Bengaluru July 16, 2026 |
||||||
2
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(₹ in millions, except share and per share data, unless otherwise stated)
| Three months ended June 30, | ||||||||||||
| 2025 | 2026 | 2026 | ||||||||||
|
|
|
Convenience translation into U.S. Dollar in millions (unaudited) Refer to Note 2(iii) |
||||||||||
| Profit for the period |
33,365 | 33,563 | 355 | |||||||||
| Other comprehensive income (OCI) |
||||||||||||
| Items that will not be reclassified to profit or loss in subsequent periods |
|
|||||||||||
| Remeasurements of the defined benefit plans, net |
(229 | ) | 392 | 4 | ||||||||
| Net change in fair value of investment in equity instruments measured at fair value through OCI |
(1 | ) | 660 | 7 | ||||||||
|
|
|
|
|
|
|
|||||||
| (230 | ) | 1,052 | 11 | |||||||||
|
|
|
|
|
|
|
|||||||
| Items that will be reclassified to profit or loss in subsequent periods |
|
|||||||||||
| Foreign currency translation differences |
6,583 | (1,159 | ) | (12 | ) | |||||||
| Net change in time value of option contracts designated as cash flow hedges, net of taxes |
(274 | ) | 180 | 2 | ||||||||
| Net change in intrinsic value of option contracts designated as cash flow hedges, net of taxes |
170 | 912 | 9 | |||||||||
| Net change in fair value of forward contracts designated as cash flow hedges, net of taxes |
(1 | ) | 3,767 | 40 | ||||||||
| Net change in fair value of investment in debt instruments measured at fair value through OCI, net of taxes |
588 | 482 | 5 | |||||||||
|
|
|
|
|
|
|
|||||||
| 7,066 | 4,182 | 44 | ||||||||||
|
|
|
|
|
|
|
|||||||
| Total other comprehensive income, net of taxes |
6,836 | 5,234 | 55 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total comprehensive income for the period |
40,201 | 38,797 | 410 | |||||||||
|
|
|
|
|
|
|
|||||||
| Total comprehensive income attributable to: |
||||||||||||
| Equity holders of the Company |
40,137 | 38,757 | 410 | |||||||||
| Non-controlling interests |
64 | 40 | ^ | |||||||||
|
|
|
|
|
|
|
|||||||
| 40,201 | 38,797 | 410 | ||||||||||
|
|
|
|
|
|
|
|||||||
| ^ 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 Chartered Accountants Firm’s Registration No: 117366W/W - 100018 |
Rishad A. Premji Chairman (DIN: 02983899) |
Deepak M. Satwalekar Director (DIN: 00009627) |
Srinivas Pallia Chief Executive Officer and Managing Director (DIN: 10574442) | |||
| Anand Subramanian Partner Membership No.: 110815 |
Aparna C. Iyer Chief Financial Officer |
M. Sanaulla Khan Company Secretary Membership No.: F4129 | ||||
| Bengaluru July 16, 2026 |
||||||
3
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS 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, 2025 |
10,472,136,049 | 20,944 | 2,628 | 716,477 | 6,985 | 27,778 | 54,500 | (210 | ) | (793 | ) | 828,309 | 2,138 | 830,447 | ||||||||||||||||||||||||||||||||||
| Comprehensive income for the period |
||||||||||||||||||||||||||||||||||||||||||||||||
| Profit for the period |
— | — | — | 33,304 | — | — | — | — | — | 33,304 | 61 | 33,365 | ||||||||||||||||||||||||||||||||||||
| Other comprehensive income |
— | — | — | — | — | — | 6,575 | (105 | ) | 363 | 6,833 | 3 | 6,836 | |||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
| Total comprehensive income for the period |
— | — | — | 33,304 | — | — | 6,575 | (105 | ) | 363 | 40,137 | 64 | 40,201 | |||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
| Issue of equity shares on exercise of options |
10,182,081 | 21 | 2,197 | — | (2,197 | ) | — | — | — | — | 21 | — | 21 | |||||||||||||||||||||||||||||||||||
| Dividend |
— | — | — | — | — | — | — | — | — | — | (569 | ) | (569 | ) | ||||||||||||||||||||||||||||||||||
| Compensation cost related to employee share-based payment |
— | — | — | — | 436 | — | — | — | — | 436 | — | 436 | ||||||||||||||||||||||||||||||||||||
| Transferred from Special Economic Zone Re-investment reserve |
— | — | — | 893 | — | (893 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
| Others |
— | — | — | — | — | — | (5 | ) | 5 | — | — | 55 | 55 | |||||||||||||||||||||||||||||||||||
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| Other transactions for the period |
10,182,081 | 21 | 2,197 | 893 | (1,761 | ) | (893 | ) | (5 | ) | 5 | — | 457 | (514 | ) | (57 | ) | |||||||||||||||||||||||||||||||
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| As at June 30, 2025 |
10,482,318,130 | 20,965 | 4,825 | 750,674 | 5,224 | 26,885 | 61,070 | (310 | ) | (430 | ) | 868,903 | 1,688 | 870,591 | ||||||||||||||||||||||||||||||||||
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| (1) | Includes 11,905,480 treasury shares held as at June 30, 2025 by a controlled trust. |
| (2) | Refer to Note 18 |
| (3) | Refer to Note 17 |
4
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS 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, 2026 |
10,488,412,458 | 20,977 | 6,158 | 735,057 | 7,920 | 25,966 | 100,872 | (7,399 | ) | (4,183 | ) | 885,368 | 2,509 | 887,877 | ||||||||||||||||||||||||||||||||||
| Comprehensive income for the period |
||||||||||||||||||||||||||||||||||||||||||||||||
| Profit for the period |
— | — | — | 33,520 | — | — | — | — | — | 33,520 | 43 | 33,563 | ||||||||||||||||||||||||||||||||||||
| Other comprehensive income |
— | — | — | — | — | — | (1,156 | ) | 4,859 | 1,534 | 5,237 | (3 | ) | 5,234 | ||||||||||||||||||||||||||||||||||
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| Total comprehensive income for the period |
— | — | — | 33,520 | — | — | (1,156 | ) | 4,859 | 1,534 | 38,757 | 40 | 38,797 | |||||||||||||||||||||||||||||||||||
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| Issue of equity shares on exercise of options |
15,137,339 | 30 | 3,465 | — | (3,465 | ) | — | — | — | — | 30 | — | 30 | |||||||||||||||||||||||||||||||||||
| Transfer of shares pertaining to Non-controlling interests of subsidiary |
— | — | — | (1,702 | ) | — | — | 59 | — | 2,094 | 451 | (451 | ) | — | ||||||||||||||||||||||||||||||||||
| Compensation cost related to employee share-based payment |
— | — | — | — | 601 | — | — | — | — | 601 | — | 601 | ||||||||||||||||||||||||||||||||||||
| Transferred from Special Economic Zone Re-investment reserve |
— | — | — | 2,019 | — | (2,019 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
| Buyback of equity shares (4) |
(600,000,000 | ) | (1,200 | ) | (8,457 | ) | (141,543 | ) | — | — | — | — | 1,200 | (150,000 | ) | — | (150,000 | ) | ||||||||||||||||||||||||||||||
| Transaction cost related to buyback of equity shares (4) |
— | — | — | (497 | ) | — | — | — | — | — | (497 | ) | — | (497 | ) | |||||||||||||||||||||||||||||||||
| Others |
— | — | — | — | — | — | — | — | — | — | (39 | ) | (39 | ) | ||||||||||||||||||||||||||||||||||
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| Other transactions for the period |
(584,862,661 | ) | (1,170 | ) | (4,992 | ) | (141,723 | ) | (2,864 | ) | (2,019 | ) | 59 | — | 3,294 | (149,415 | ) | (490 | ) | (149,905 | ) | |||||||||||||||||||||||||||
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| As at June 30, 2026 |
9,903,549,797 | 19,807 | 1,166 | 626,854 | 5,056 | 23,947 | 99,775 | (2,540 | ) | 645 | 774,710 | 2,059 | 776,769 | |||||||||||||||||||||||||||||||||||
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| Convenience translation into U.S. Dollar in millions (unaudited) Refer to Note 2(iii) |
209 | 12 | 6,622 | 53 | 253 | 1,054 | (27 | ) | 7 | 8,183 | 22 | 8,205 | ||||||||||||||||||||||||||||||||||||
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| (1) | Includes 11,905,480 treasury shares held as at June 30, 2026 by a controlled trust. |
| (2) | Refer to Note 19 |
| (3) | Refer to Note 18 |
| (4) | Refer to Note 30 |
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 | (DIN: 02983899) | (DIN: 00009627) | Managing Director | |||
| (DIN: 10574442) | ||||||
| Anand Subramanian | Aparna C. Iyer | M. Sanaulla Khan | ||||
| Partner | Chief Financial Officer | Company Secretary | ||||
| Membership No.: 110815 | Membership No.: F4129 | |||||
| Bengaluru | ||||||
| July 16, 2026 | ||||||
5
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(₹ in millions, except share and per share data, unless otherwise stated)
| Three months ended June 30, |
||||||||||||||
| 2025 | 2026 | 2026 | ||||||||||||
| Notes |
Convenience translation into U.S. Dollar in millions (unaudited) Refer to Note 2(iii) |
|||||||||||||
| Cash flows from operating activities |
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| Profit for the period |
33,365 | 33,563 | 355 | |||||||||||
| Adjustments to reconcile profit for the period to net cash generated from operating activities: |
||||||||||||||
| Gain on sale of property, plant and equipment, net |
(66 | ) | (139 | ) | (1 | ) | ||||||||
| Depreciation, amortization and impairment expense |
22 | 6,855 | 8,044 | 85 | ||||||||||
| Unrealized exchange (gain)/loss, net |
1,449 | (995 | ) | (11 | ) | |||||||||
| Share-based compensation expense |
436 | 601 | 6 | |||||||||||
| Share of net (profit)/loss of associate and joint venture accounted for using equity method |
(50 | ) | 5 | ^ | ||||||||||
| Income tax expense |
20 | 9,218 | 9,782 | 103 | ||||||||||
| Finance and other income, net of finance expenses |
(6,809 | ) | (4,144 | ) | (44 | ) | ||||||||
| Change in fair value of contingent consideration |
48 | — | — | |||||||||||
| Lifetime expected credit loss/(write-back) |
22 | 502 | (152 | ) | (2 | ) | ||||||||
| Changes in operating assets and liabilities, net of effects from acquisitions |
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| (Increase)/Decrease in trade receivables |
154 | 4,172 | 45 | |||||||||||
| (Increase)/Decrease in unbilled receivables and contract assets |
(7,148 | ) | (3,734 | ) | (39 | ) | ||||||||
| (Increase)/Decrease in inventories |
125 | (355 | ) | (4 | ) | |||||||||
| (Increase)/Decrease in other financial assets and other assets |
(249 | ) | 2,414 | 26 | ||||||||||
| Increase/(Decrease) in trade payables, accrued expenses, other financial liabilities, other liabilities and provisions |
2,021 | (6,160 | ) | (65 | ) | |||||||||
| Increase/(Decrease) in contract liabilities |
561 | (4,043 | ) | (43 | ) | |||||||||
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| Cash generated from operating activities before taxes |
40,412 | 38,859 | 411 | |||||||||||
| Income taxes (paid)/refund, net |
707 | (5,979 | ) | (63 | ) | |||||||||
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| Net cash generated from operating activities |
41,119 | 32,880 | 348 | |||||||||||
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| Cash flows from investing activities: |
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| Payment for purchase of property, plant and equipment |
(2,742 | ) | (3,379 | ) | (36 | ) | ||||||||
| Proceeds from disposal of property, plant and equipment |
12 | 116 | 1 | |||||||||||
| Payment for purchase of investments |
(235,272 | ) | (328,755 | ) | (3,473 | ) | ||||||||
| Proceeds from sale of investments |
232,843 | 454,123 | 4,797 | |||||||||||
| Payment for business acquisitions, net of cash acquired |
7 | — | (32,971 | ) | (348 | ) | ||||||||
| Interest received |
7,575 | 9,640 | 102 | |||||||||||
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| Net cash generated from/(used in) investing activities |
2,416 | 98,774 | 1,043 | |||||||||||
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| Cash flows from financing activities: |
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| Proceeds from issuance of equity shares and shares pending allotment |
21 | 30 | ^ | |||||||||||
| Repayment of loans and borrowings |
(92,328 | ) | (136,099 | ) | (1,438 | ) | ||||||||
| Proceeds from loans and borrowings |
56,783 | 145,994 | 1,542 | |||||||||||
| Payment of lease liabilities including interest |
(2,761 | ) | (3,059 | ) | (32 | ) | ||||||||
| Payment for contingent consideration |
(313 | ) | — | — | ||||||||||
| Payment of deferred consideration on business combination |
(214 | ) | — | — | ||||||||||
| Purchase of shares from Non-controlling interest holders |
7 | — | (2,851 | ) | (30 | ) | ||||||||
| Payment for buy back of equity shares, including transaction costs |
— | (150,497 | ) | (1,590 | ) | |||||||||
| Interest and finance expenses paid |
(2,070 | ) | (2,107 | ) | (22 | ) | ||||||||
| Payment of dividend to Non-controlling interest holders |
(569 | ) | — | — | ||||||||||
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| Net cash generated from/(used) in financing activities |
(41,451 | ) | (148,589 | ) | (1,570 | ) | ||||||||
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| Net increase/(decrease) in cash and cash equivalents during the period |
2,084 | (16,935 | ) | (179 | ) | |||||||||
| Effect of exchange rate changes on cash and cash equivalents |
1,705 | (182 | ) | (2 | ) | |||||||||
| Cash and cash equivalents at the beginning of the period |
10 | 121,974 | 105,555 | 1,115 | ||||||||||
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| Cash and cash equivalents at the end of the period |
10 | 125,763 | 88,438 | 934 | ||||||||||
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^ 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 | (DIN: 02983899) | (DIN: 00009627) | Managing Director | |||
| (DIN: 10574442) | ||||||
| Anand Subramanian | Aparna C. Iyer | M. Sanaulla Khan | ||||
| Partner | Chief Financial Officer | Company Secretary | ||||
| Membership No.: 110815 | Membership No.: F4129 | |||||
| Bengaluru | ||||||
| July 16, 2026 | ||||||
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 leading artificial intelligence (“AI”) powered technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our consulting-led approach and the Wipro Intelligence™ unified suite of AI-powered platforms, solutions and transformative offerings, we help clients realize their boldest ambitions to build intelligent and sustainable businesses.
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 July 16, 2026.
2. Basis of preparation of interim condensed consolidated financial statements
(i) Statement of compliance and basis of preparation
The 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, 2026. 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, 2026.
The assets which are expected to be realized within a period of twelve months from the end of reporting period are classified as current assets. Similarly, the liabilities which are expected to be settled within a period of twelve months from the end of reporting period are classified as current liabilities. All other assets and liabilities are classified as non-current.
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
The 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 months ended June 30, 2026, have been translated into United States Dollars at the certified foreign exchange rate of U.S.$1 = ₹ 94.66 as published by Federal Reserve Board of Governors on June 30, 2026. 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
7
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.
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. |
8
| h) | 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, 2026, 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, 2026.
| i. | New amendment adopted by the Company effective from April 1, 2026: |
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 clarify that a financial liability is derecognized on the ‘settlement date’ and introduce an accounting policy choice to derecognize financial liabilities settled using an electronic payment system before settlement date. The classification of financial asset with ESG linked features has been clarified through additional guidance on the assessment of contingent features. Additional disclosures are introduced for financial instruments with contingent features and equity instruments classified as fair value through OCI. These amendments are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted. The adoption of amendments to IFRS 9 and IFRS 7 did not have any material impact on the interim condensed consolidated financial statements.
Amendments to IFRS 9 and IFRS 7 - Contracts referencing Nature-dependent electricity
The International Accounting Standards Board (IASB) has published amendments to IFRS 9 and IFRS 7 titled Contracts Referencing Nature-dependent Electricity. The IASB has added application guidance to IFRS 9 to address specifically whether a contract to buy electricity generated from a source dependent on natural conditions is held for the entity’s own-use expectations. The amendments also address specifically how an entity applies the hedge accounting requirements in IFRS 9 when a contract referencing nature-dependent electricity with a variable nominal amount is designated as the hedging instrument. The IASB decided to add complementary disclosure requirements to IFRS 7. The amendments are effective for annual periods beginning on or after 1 January 2026, with earlier application permitted. The adoption of amendments to IFRS 9 and IFRS 7 did not have any material impact on the interim condensed consolidated financial statements.
| ii. | New amendments not yet adopted: |
Certain new standards, amendments to standards and interpretations are not yet effective for annual periods beginning after April 1, 2026 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:
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.
9
4. Property, plant and equipment
| Land | Buildings | Plant and equipments (1) |
Furniture and fixtures |
Office equipments |
Vehicles | Total | ||||||||||||||||||||||
| Gross carrying value: |
||||||||||||||||||||||||||||
| As at April 1, 2025 |
₹ | 4,373 | ₹ | 52,556 | ₹ | 99,554 | ₹ | 19,576 | ₹ | 7,663 | ₹ | 34 | ₹ | 183,756 | ||||||||||||||
| Additions |
— | — | 1,257 | 934 | 139 | 1 | 2,331 | |||||||||||||||||||||
| Disposals |
— | (69 | ) | (1,955 | ) | (58 | ) | (8 | ) | ^ | (2,090 | ) | ||||||||||||||||
| Translation adjustment |
15 | 145 | 876 | 70 | 44 | ^ | 1,150 | |||||||||||||||||||||
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| As at June 30, 2025 |
₹ | 4,388 | ₹ | 52,632 | ₹ | 99,732 | ₹ | 20,522 | ₹ | 7,838 | ₹ | 35 | ₹ | 185,147 | ||||||||||||||
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| Accumulated depreciation/ impairment: |
||||||||||||||||||||||||||||
| As at April 1, 2025 |
₹ | — | ₹ | 12,997 | ₹ | 73,459 | ₹ | 12,989 | ₹ | 5,821 | ₹ | 17 | ₹ | 105,283 | ||||||||||||||
| Depreciation and impairment |
— | 487 | 2,481 | 607 | 168 | 1 | 3,744 | |||||||||||||||||||||
| Disposals |
— | (67 | ) | (1,935 | ) | (47 | ) | (8 | ) | ^ | (2,057 | ) | ||||||||||||||||
| Translation adjustment |
— | 66 | 754 | 48 | 35 | ^ | 903 | |||||||||||||||||||||
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| As at June 30, 2025 |
₹ | — | ₹ | 13,483 | ₹ | 74,759 | ₹ | 13,597 | ₹ | 6,016 | ₹ | 18 | ₹ | 107,873 | ||||||||||||||
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| Net carrying value as at June 30, 2025 |
₹ | 4,388 | ₹ | 39,149 | ₹ | 24,973 | ₹ | 6,925 | ₹ | 1,822 | ₹ | 17 | ₹ | 77,274 | ||||||||||||||
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| Capital work-in-progress |
₹ | 2,480 | ||||||||||||||||||||||||||
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| Net carrying value including Capital work-in-progress as at June 30, 2025 |
|
₹ | 79,754 | |||||||||||||||||||||||||
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| Gross carrying value: |
||||||||||||||||||||||||||||
| As at April 1, 2025 |
₹ | 4,373 | ₹ | 52,556 | ₹ | 99,554 | ₹ | 19,576 | ₹ | 7,663 | ₹ | 34 | ₹ | 183,756 | ||||||||||||||
| Additions |
— | 923 | 9,253 | 1,795 | 737 | 3 | 12,711 | |||||||||||||||||||||
| Additions through Business combination |
— | 131 | 109 | 22 | 99 | 1 | 362 | |||||||||||||||||||||
| Disposals |
— | (821 | ) | (14,979 | ) | (1,449 | ) | (720 | ) | (2 | ) | (17,971 | ) | |||||||||||||||
| Translation adjustment |
31 | 440 | 3,182 | 270 | 147 | 1 | 4,071 | |||||||||||||||||||||
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| As at March 31, 2026 |
₹ | 4,404 | ₹ | 53,229 | ₹ | 97,119 | ₹ | 20,214 | ₹ | 7,926 | ₹ | 37 | ₹ | 182,929 | ||||||||||||||
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| Accumulated depreciation/ impairment: |
||||||||||||||||||||||||||||
| As at April 1, 2025 |
₹ | 12,997 | ₹ | 73,459 | ₹ | 12,989 | ₹ | 5,821 | ₹ | 17 | ₹ | 105,283 | ||||||||||||||||
| Depreciation and impairment |
— | 1,848 | 9,669 | 2,387 | 686 | 5 | 14,595 | |||||||||||||||||||||
| Disposals |
— | (695 | ) | (14,730 | ) | (1,245 | ) | (697 | ) | (1 | ) | (17,368 | ) | |||||||||||||||
| Translation adjustment |
— | 211 | 2,670 | 197 | 116 | 1 | 3,195 | |||||||||||||||||||||
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| As at March 31, 2026 |
₹ | — | ₹ | 14,361 | ₹ | 71,068 | ₹ | 14,328 | ₹ | 5,926 | ₹ | 22 | ₹ | 105,705 | ||||||||||||||
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| Net carrying value as at March 31, 2026 |
₹ | 4,404 | ₹ | 38,868 | ₹ | 26,051 | ₹ | 5,886 | ₹ | 2,000 | ₹ | 15 | ₹ | 77,224 | ||||||||||||||
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| Capital work-in-progress |
₹ | 4,563 | ||||||||||||||||||||||||||
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| Net carrying value including Capital work-in-progress as at March 31, 2026 |
|
₹ | 81,787 | |||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
| Gross carrying value: |
||||||||||||||||||||||||||||
| As at April 1, 2026 |
₹ | 4,404 | ₹ | 53,229 | ₹ | 97,119 | ₹ | 20,214 | ₹ | 7,926 | ₹ | 37 | ₹ | 182,929 | ||||||||||||||
| Additions |
— | 28 | 1,879 | 142 | 120 | 1 | 2,170 | |||||||||||||||||||||
| Additions through Business combination (Refer to Note 7) |
— | 177 | 154 | 47 | 27 | 1 | 406 | |||||||||||||||||||||
| Disposals |
— | (20 | ) | (3,602 | ) | (173 | ) | (12 | ) | (1 | ) | (3,808 | ) | |||||||||||||||
| Translation adjustment |
(2 | ) | (11 | ) | (99 | ) | (6 | ) | 2 | ^ | (116 | ) | ||||||||||||||||
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| As at June 30, 2026 |
₹ | 4,402 | ₹ | 53,403 | ₹ | 95,451 | ₹ | 20,224 | ₹ | 8,063 | ₹ | 38 | ₹ | 181,581 | ||||||||||||||
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|||||||||||||||
| Accumulated depreciation/ impairment: |
||||||||||||||||||||||||||||
| As at April 1, 2026 |
₹ | — | ₹ | 14,361 | ₹ | 71,068 | ₹ | 14,328 | ₹ | 5,926 | ₹ | 22 | ₹ | 105,705 | ||||||||||||||
| Depreciation and impairment |
— | 489 | 2,548 | 563 | 188 | 1 | 3,789 | |||||||||||||||||||||
| Disposals |
— | (18 | ) | (3,526 | ) | (162 | ) | (14 | ) | (1 | ) | (3,721 | ) | |||||||||||||||
| Translation adjustment |
— | 3 | (81 | ) | (4 | ) | 3 | ^ | (79 | ) | ||||||||||||||||||
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|||||||||||||||
| As at June 30, 2026 |
₹ | — | ₹ | 14,835 | ₹ | 70,009 | ₹ | 14,725 | ₹ | 6,103 | ₹ | 22 | ₹ | 105,694 | ||||||||||||||
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| Net carrying value as at June 30, 2026 |
₹ | 4,402 | ₹ | 38,568 | ₹ | 25,442 | ₹ | 5,499 | ₹ | 1,960 | ₹ | 16 | ₹ | 75,887 | ||||||||||||||
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| Capital work-in-progress |
₹ | 5,472 | ||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
| Net carrying value including Capital work-in-progress as at June 30, 2026 |
|
₹ | 81,359 | |||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
| (1) | Including net carrying value of computer equipment and software amounting to ₹ 15,184, ₹ 16,719 and ₹ 16,287, as at June 30, 2025, March 31, 2026 and June 30, 2026, respectively. |
| ^ | Value is less than 0.5 |
10
5. Right-of-Use assets
| Category of Right-of-Use assets | ||||||||||||||||||||||||||||
| Land | Buildings | Plant and equipments |
Furniture and fixtures |
Office equipments |
Vehicles | Total | ||||||||||||||||||||||
| Gross carrying value: |
||||||||||||||||||||||||||||
| As at April 1, 2025 |
₹ | 1,122 | ₹ | 35,038 | ₹ | 5,445 | ₹ | — | ₹ | — | ₹ | 740 | ₹ | 42,345 | ||||||||||||||
| Additions |
— | 2,716 | — | — | — | 24 | 2,740 | |||||||||||||||||||||
| Disposals |
— | (1,311 | ) | (2 | ) | — | — | (22 | ) | (1,335 | ) | |||||||||||||||||
| Translation adjustment |
— | 569 | 110 | — | — | 67 | 746 | |||||||||||||||||||||
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|||||||||||||||
| As at June 30, 2025 |
₹ | 1,122 | ₹ | 37,012 | ₹ | 5,553 | ₹ | — | ₹ | — | ₹ | 809 | ₹ | 44,496 | ||||||||||||||
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| Accumulated depreciation: |
||||||||||||||||||||||||||||
| As at April 1, 2025 |
₹ | 106 | ₹ | 14,904 | ₹ | 1,356 | ₹ | — | ₹ | — | ₹ | 381 | ₹ | 16,747 | ||||||||||||||
| Depreciation |
5 | 1,213 | 220 | — | — | 48 | 1,486 | |||||||||||||||||||||
| Disposals |
— | (1,259 | ) | (2 | ) | — | — | (17 | ) | (1,278 | ) | |||||||||||||||||
| Translation adjustment |
— | 299 | 86 | — | — | 35 | 420 | |||||||||||||||||||||
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| As at June 30, 2025 |
₹ | 111 | ₹ | 15,157 | ₹ | 1,660 | ₹ | — | ₹ | — | ₹ | 447 | ₹ | 17,375 | ||||||||||||||
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| Net carrying value as at June 30, 2025 |
₹ | 1,011 | ₹ | 21,855 | ₹ | 3,893 | ₹ | — | ₹ | — | ₹ | 362 | ₹ | 27,121 | ||||||||||||||
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| Gross carrying value: |
||||||||||||||||||||||||||||
| As at April 1, 2025 |
₹ | 1,122 | ₹ | 35,038 | ₹ | 5,445 | ₹ | — | ₹ | — | ₹ | 740 | ₹ | 42,345 | ||||||||||||||
| Additions |
— | 7,697 | — | — | — | 233 | 7,930 | |||||||||||||||||||||
| Additions through Business combination |
— | 1,062 | — | — | — | — | 1,062 | |||||||||||||||||||||
| Disposals |
— | (5,385 | ) | (959 | ) | — | — | (204 | ) | (6,548 | ) | |||||||||||||||||
| Translation adjustment |
— | 2,062 | 593 | — | — | 135 | 2,790 | |||||||||||||||||||||
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| As at March 31, 2026 |
₹ | 1,122 | ₹ | 40,474 | ₹ | 5,079 | ₹ | — | ₹ | — | ₹ | 904 | ₹ | 47,579 | ||||||||||||||
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| Accumulated depreciation: |
||||||||||||||||||||||||||||
| As at April 1, 2025 |
₹ | 106 | ₹ | 14,904 | ₹ | 1,356 | ₹ | — | ₹ | — | ₹ | 381 | ₹ | 16,747 | ||||||||||||||
| Depreciation |
19 | 5,611 | 875 | — | — | 220 | 6,725 | |||||||||||||||||||||
| Disposals |
— | (4,421 | ) | (936 | ) | — | — | (156 | ) | (5,513 | ) | |||||||||||||||||
| Translation adjustment |
— | 1,054 | 207 | — | — | 72 | 1,333 | |||||||||||||||||||||
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| As at March 31, 2026 |
₹ | 125 | ₹ | 17,148 | ₹ | 1,502 | ₹ | — | ₹ | — | ₹ | 517 | ₹ | 19,292 | ||||||||||||||
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| Net carrying value as at March 31, 2026 |
₹ | 997 | ₹ | 23,326 | ₹ | 3,577 | ₹ | — | ₹ | — | ₹ | 387 | ₹ | 28,287 | ||||||||||||||
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| Gross carrying value: |
||||||||||||||||||||||||||||
| As at April 1, 2026 |
₹ | 1,122 | ₹ | 40,474 | ₹ | 5,079 | ₹ | — | ₹ | — | ₹ | 904 | ₹ | 47,579 | ||||||||||||||
| Additions |
— | 1,766 | 123 | 124 | 18 | 25 | 2,056 | |||||||||||||||||||||
| Additions through Business combination (Refer to Note 7) |
— | 356 | 112 | — | — | — | 468 | |||||||||||||||||||||
| Disposals |
— | (3,286 | ) | ^ | — | — | (23 | ) | (3,309 | ) | ||||||||||||||||||
| Translation adjustment |
— | (112 | ) | (6 | ) | — | — | (10 | ) | (128 | ) | |||||||||||||||||
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| As at June 30, 2026 |
₹ | 1,122 | ₹ | 39,198 | ₹ | 5,308 | ₹ | 124 | ₹ | 18 | ₹ | 896 | ₹ | 46,666 | ||||||||||||||
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| Accumulated depreciation: |
||||||||||||||||||||||||||||
| As at April 1, 2026 |
₹ | 125 | ₹ | 17,148 | ₹ | 1,502 | ₹ | — | ₹ | — | ₹ | 517 | ₹ | 19,292 | ||||||||||||||
| Depreciation |
5 | 1,560 | 219 | 6 | 1 | 57 | 1,848 | |||||||||||||||||||||
| Disposals |
— | (2,255 | ) | ^ | — | — | (16 | ) | (2,271 | ) | ||||||||||||||||||
| Translation adjustment |
— | (77 | ) | (2 | ) | — | — | (7 | ) | (86 | ) | |||||||||||||||||
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| As at June 30, 2026 |
₹ | 130 | ₹ | 16,376 | ₹ | 1,719 | ₹ | 6 | ₹ | 1 | ₹ | 551 | ₹ | 18,783 | ||||||||||||||
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| Net carrying value as at June 30, 2026 |
₹ | 992 | ₹ | 22,822 | ₹ | 3,589 | ₹ | 118 | ₹ | 17 | ₹ | 345 | ₹ | 27,883 | ||||||||||||||
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| ^ | Value is less than 0.5 |
Lease Liability
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Balance at the beginning of the period |
₹ | 30,218 | ₹ | 35,036 | ||||
| Additions |
7,946 | 1,989 | ||||||
| Additions through subleasing |
3,734 | 1,451 | ||||||
| Additions through Business combinations |
1,062 | 453 | ||||||
| Deletions |
(1,268 | ) | (1,146 | ) | ||||
| Finance cost accrued during the period |
1,956 | 526 | ||||||
| Payment of lease liabilities including interest |
(11,561 | ) | (3,059 | ) | ||||
| Translation adjustment |
2,949 | (77 | ) | |||||
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| Balance at the end of the period |
₹ | 35,036 | ₹ | 35,173 | ||||
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11
6. Goodwill and intangible assets
The movement in goodwill balance is given below:
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Balance at the beginning of the period |
₹ | 325,014 | ₹ | 387,399 | ||||
| Acquisition through Business combinations (Refer to Note 7) |
24,772 | 17,721 | ||||||
| Translation adjustment |
37,613 | (760 | ) | |||||
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| Balance at the end of the period |
₹ | 387,399 | ₹ | 404,360 | ||||
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The movement in intangible assets is given below:
| Intangible assets | ||||||||||||
| Customer-related | Marketing-related | Total | ||||||||||
| Gross carrying value: |
||||||||||||
| As at April 1, 2025 |
₹ | 42,461 | ₹ | 9,722 | ₹ | 52,183 | ||||||
| Translation adjustment |
141 | 34 | 175 | |||||||||
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| As at June 30, 2025 |
₹ | 42,602 | ₹ | 9,756 | ₹ | 52,358 | ||||||
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| Accumulated amortization/ impairment: |
||||||||||||
| As at April 1, 2025 |
₹ | 20,950 | ₹ | 3,783 | ₹ | 24,733 | ||||||
| Amortization and impairment |
1,367 | 258 | 1,625 | |||||||||
| Translation adjustment |
70 | 14 | 84 | |||||||||
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|||||||
| As at June 30, 2025 |
₹ | 22,387 | ₹ | 4,055 | ₹ | 26,442 | ||||||
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| Net carrying value as at June 30, 2025 |
₹ | 20,215 | ₹ | 5,701 | ₹ | 25,916 | ||||||
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|||||||
| Gross carrying value: |
||||||||||||
| As at April 1, 2025 |
₹ | 42,461 | ₹ | 9,722 | ₹ | 52,183 | ||||||
| Acquisition through Business combination |
5,644 | 1,109 | 6,753 | |||||||||
| Deductions/adjustments |
(4,420 | ) | — | (4,420 | ) | |||||||
| Translation adjustment |
4,387 | 1,122 | 5,509 | |||||||||
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|||||||
| As at March 31, 2026 |
₹ | 48,072 | ₹ | 11,953 | ₹ | 60,025 | ||||||
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|||||||
| Accumulated amortization/ impairment: |
||||||||||||
| As at April 1, 2025 |
₹ | 20,950 | ₹ | 3,783 | ₹ | 24,733 | ||||||
| Amortization and impairment (1) |
6,599 | 1,188 | 7,787 | |||||||||
| Deductions/adjustments |
(4,420 | ) | — | (4,420 | ) | |||||||
| Translation adjustment |
2,252 | 497 | 2,749 | |||||||||
|
|
|
|
|
|
|
|||||||
| As at March 31, 2026 |
₹ | 25,381 | ₹ | 5,468 | ₹ | 30,849 | ||||||
|
|
|
|
|
|
|
|||||||
| Net carrying value as at March 31, 2026 |
₹ | 22,691 | ₹ | 6,485 | ₹ | 29,176 | ||||||
|
|
|
|
|
|
|
|||||||
| Gross carrying value: |
||||||||||||
| As at April 1, 2026 |
₹ | 48,072 | ₹ | 11,953 | ₹ | 60,025 | ||||||
| Acquisition through Business combination (Refer to Note 7) |
25,023 | 199 | 25,222 | |||||||||
| Deductions/adjustments |
— | — | — | |||||||||
| Translation adjustment |
(108 | ) | (15 | ) | (123 | ) | ||||||
|
|
|
|
|
|
|
|||||||
| As at June 30, 2026 |
₹ | 72,987 | ₹ | 12,137 | ₹ | 85,124 | ||||||
|
|
|
|
|
|
|
|||||||
| Accumulated amortization/ impairment: |
||||||||||||
| As at April 1, 2026 |
₹ | 25,381 | ₹ | 5,468 | ₹ | 30,849 | ||||||
| Amortization and impairment |
2,013 | 394 | 2,407 | |||||||||
| Translation adjustment |
(28 | ) | (6 | ) | (34 | ) | ||||||
|
|
|
|
|
|
|
|||||||
| As at June 30, 2026 |
₹ | 27,366 | ₹ | 5,856 | ₹ | 33,222 | ||||||
|
|
|
|
|
|
|
|||||||
| Net carrying value as at June 30, 2026 |
₹ | 45,621 | ₹ | 6,281 | ₹ | 51,902 | ||||||
|
|
|
|
|
|
|
|||||||
| (1) | During the year ended March 31, 2026, 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 ₹ 851 for the year ended March 31, 2026, 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.
12
7. Business combinations
During the three months ended June 30, 2026,
| a) | the Company has completed a business combination by acquiring 100% equity interest in Mindsprint Pte. Ltd. and its subsidiaries (“Mindsprint”), Olam Group’s IT services arm, a provider of technology and digital transformation services. The acquisition was consummated in May 2026, for total cash consideration of ₹ 35,150. |
| b) | the Company has completed a business combination by acquiring select customer contracts of Alpha Net Consulting LLC (“Alpha Net”), a provider of enterprise software development, data engineering, and managed services. The acquisition was consummated in June 2026, for total cash consideration (upfront cash, deferred consideration and contingent consideration) of ₹ 5,194. |
The total consideration of Alpha Net includes a deferred consideration of ₹ 208 payable within 100 business days from consummation date.
The total consideration of Alpha Net includes a contingent consideration linked to achievement of revenues and earnings over a period of 3 years, and range of contingent consideration payable is between ₹ Nil and ₹ 3,346. The fair value of the contingent consideration is estimated by applying the discounted cash-flow approach considering probability adjusted revenue and earnings estimates. The undiscounted fair value of contingent consideration is ₹ 3,061 as at the date of acquisition. The discounted fair value of contingent consideration of ₹ 2,141 is recorded as part of provisional purchase price allocation.
| Description | Mindsprint | Alpha Net | ||||||
| Net assets |
₹ | 1,026 | ₹ | — | ||||
| Fair value of property, plant and equipment |
406 | — | ||||||
| Fair value of right-of-use assets |
468 | — | ||||||
| Fair value of customer-related intangibles |
21,762 | 3,261 | ||||||
| Fair value of marketing-related intangibles |
199 | — | ||||||
| Deferred tax liabilities on intangible assets |
(4,831 | ) | — | |||||
|
|
|
|
|
|||||
| Total identifiable assets |
₹ | 19,030 | ₹ | 3,261 | ||||
| Goodwill |
16,120 | 1,933 | ||||||
|
|
|
|
|
|||||
| Total purchase price |
₹ | 35,150 | ₹ | 5,194 | ||||
|
|
|
|
|
|||||
| Net Assets include: |
||||||||
| Cash and cash equivalents |
₹ | 4,624 | ₹ | — | ||||
| Fair value of acquired trade receivables included in net assets |
942 | — | ||||||
| Gross contractual amount of acquired trade receivables |
966 | — | ||||||
| Less: Allowance for lifetime expected credit loss |
(24 | ) | — | |||||
| Transaction costs included in general and administrative expenses |
₹ | 387 | ₹ | 32 | ||||
The above purchase price allocation for Mindsprint and Alpha Net is provisional and will be finalized as soon as practicable within the measurement period, but in no event later than one year following the date of acquisition.
The goodwill of ₹ 18,053 comprises value of acquired workforce and expected synergies arising from the business combinations. Goodwill is allocated to IT Services segment and significant portion is not deductible for income tax purposes.
The pro-forma effects of acquisition of Mindsprint and Alpha Net for the three months ended June 30, 2026, on the Company’s results were not material.
| c) | the provisional purchase price allocation for Digital Transformation Solutions unit of Harman International Inc. which is Harman Connected Services Inc. and its subsidiaries and certain other assets (together, “DTS”), a global provider of Engineering, Research and Development (“ER&D”) services and IT services. The acquisition was consummated on December 1, 2025, for total cash consideration of ₹ 33,752. The following table presents purchase price allocation: |
| Description | DTS | |||
| Net assets |
₹ | 3,036 | ||
| Fair value of property, plant and equipment |
383 | |||
| Fair value of right-of-use assets |
1,062 | |||
| Fair value of customer-related intangibles |
5,644 | |||
| Fair value of marketing-related intangibles |
1,109 | |||
| Deferred tax liabilities on intangible assets |
(1,915 | ) | ||
|
|
|
|||
| Total identifiable assets |
₹ | 9,319 | ||
| Goodwill |
24,433 | |||
|
|
|
|||
| Total purchase price |
₹ | 33,752 | ||
|
|
|
|||
| Net Assets include: |
||||
| Cash and cash equivalents |
₹ | 7,952 | ||
| Fair value of acquired trade receivables included in net assets |
3,064 | |||
| Gross contractual amount of acquired trade receivables |
3,231 | |||
| Less: Allowance for lifetime expected credit loss |
(167 | ) | ||
| Transaction costs included in general and administrative expenses |
₹ | 230 | ||
13
The above purchase price allocation for DTS is provisional and will be finalized as soon as practicable within the measurement period, but in no event later than one year following the date of acquisition.
| d) | the Company acquired an additional 20% stake in Aggne Global IT Services Private Limited and Aggne Global Inc., for a total consideration of ₹ 2,851. |
8. Investments
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Non-current |
||||||||
| Financial instruments at FVTPL |
||||||||
| Equity instruments (1) |
₹ | 7,336 | ₹ | 7,683 | ||||
| Fixed maturity plan mutual funds |
— | 524 | ||||||
| Financial instruments at FVTOCI |
||||||||
| Equity instruments (1) |
12,143 | 12,681 | ||||||
| Financial instruments at amortized cost |
||||||||
| Inter corporate and term deposits |
8,574 | 8,293 | ||||||
|
|
|
|
|
|||||
| ₹ | 28,053 | ₹ | 29,181 | |||||
|
|
|
|
|
|||||
| Current |
||||||||
| Financial instruments at FVTPL |
||||||||
| Short-term mutual funds |
₹ | 79,719 | ₹ | 36,133 | ||||
| Fixed maturity plan mutual funds |
1,281 | — | ||||||
| Financial instruments at FVTOCI |
||||||||
| Non-convertible debentures |
210,328 | 136,784 | ||||||
| Government securities |
8,948 | 8,849 | ||||||
| Commercial papers |
14,227 | 7,832 | ||||||
| Bonds |
10,385 | 7,150 | ||||||
| Certificate of deposits |
— | 951 | ||||||
| Financial instruments at amortized cost |
||||||||
| Inter corporate and term deposits (2) |
112,792 | 109,582 | ||||||
|
|
|
|
|
|||||
| ₹ | 437,680 | ₹ | 307,281 | |||||
|
|
|
|
|
|||||
| Total |
₹ | 465,733 | ₹ | 336,462 | ||||
|
|
|
|
|
|||||
| Financial instruments at FVTPL |
₹ | 88,336 | ₹ | 44,340 | ||||
| Financial instruments at FVTOCI |
256,031 | 174,247 | ||||||
| Financial instruments at amortized cost |
121,366 | 117,875 | ||||||
| (1) | Uncalled capital commitments outstanding as at March 31, 2026 and June 30, 2026, was ₹ 2,577 and ₹ 2,465, respectively. |
| (2) | These deposits earn a fixed rate of interest. As at March 31, 2026 and June 30, 2026, term deposits include deposits in lien with banks, held as margin money deposits against guarantees amounting to ₹ 961 and ₹ 975, respectively. |
9. Inventories
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Stores and spare parts |
₹ | 3 | ₹ | 6 | ||||
| Traded goods |
514 | 863 | ||||||
|
|
|
|
|
|||||
| ₹ | 517 | ₹ | 869 | |||||
|
|
|
|
|
|||||
10. Cash and cash equivalents
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Cash and bank balances |
₹ | 96,145 | ₹ | 77,832 | ||||
| Demand deposits with banks (1) |
9,410 | 10,612 | ||||||
|
|
|
|
|
|||||
| ₹ | 105,555 | ₹ | 88,444 | |||||
|
|
|
|
|
|||||
| (1) | These deposits can be withdrawn by the Company at any time without prior notice and without any penalty on the principal. |
14
Cash and cash equivalents consist of the following for the purpose of the interim condensed consolidated statement of cash flows:
| As at | ||||||||
| June 30, 2025 | June 30, 2026 | |||||||
| Cash and cash equivalents |
₹ | 125,763 | ₹ | 88,444 | ||||
| Bank overdrafts |
^ | (6 | ) | |||||
|
|
|
|
|
|||||
| ₹ | 125,763 | ₹ | 88,438 | |||||
|
|
|
|
|
|||||
^ Value is less than 0.5
11. Other financial assets
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Non-current |
||||||||
| Finance lease receivables |
₹ | 3,922 | ₹ | 4,327 | ||||
| Security deposits |
1,812 | 1,879 | ||||||
| Advance to customers |
509 | 422 | ||||||
| Dues from officers and employees |
16 | 16 | ||||||
| Other receivables |
^ | ^ | ||||||
|
|
|
|
|
|||||
| ₹ | 6,259 | ₹ | 6,644 | |||||
|
|
|
|
|
|||||
| Current |
||||||||
| Finance lease receivables |
₹ | 4,189 | ₹ | 4,674 | ||||
| Security deposits |
2,235 | 2,244 | ||||||
| Receivables from redemption of mutual funds |
800 | 3,519 | ||||||
| Interest receivables |
357 | 331 | ||||||
| Claims receivables |
384 | 314 | ||||||
| Dues from officers and employees |
435 | 426 | ||||||
| Advance to customers |
494 | 481 | ||||||
| Other receivables |
1,351 | 749 | ||||||
| ₹ | 10,245 | ₹ | 12,738 | |||||
|
|
|
|
|
|||||
| ₹ | 16,504 | ₹ | 19,382 | |||||
|
|
|
|
|
|||||
^ Value is less than 0.5
12. Other assets
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Non-current |
||||||||
| Prepaid expenses |
₹ | 4,356 | ₹ | 4,431 | ||||
| Interest receivable from statutory authorities |
1,062 | 1,197 | ||||||
| Deferred contract cost |
||||||||
| Costs to obtain contracts (1) |
2,592 | 2,159 | ||||||
| Costs to fulfil contracts (2) |
1,000 | 1,302 | ||||||
|
|
|
|
|
|||||
| ₹ | 9,010 | ₹ | 9,089 | |||||
|
|
|
|
|
|||||
| Current |
||||||||
| Prepaid expenses |
₹ | 18,929 | ₹ | 20,073 | ||||
| Balance with GST and other authorities |
7,969 | 8,187 | ||||||
| Advance to suppliers |
2,369 | 2,025 | ||||||
| Withholding taxes |
975 | 601 | ||||||
| Dues from officers and employees |
415 | 408 | ||||||
| Defined benefit plan asset, net |
204 | 241 | ||||||
| Deferred contract cost |
||||||||
| Costs to obtain contracts (1) |
1,903 | 1,775 | ||||||
| Costs to fulfil contracts (2) |
151 | 111 | ||||||
| Other receivables |
249 | 209 | ||||||
|
|
|
|
|
|||||
| ₹ | 33,164 | ₹ | 33,630 | |||||
|
|
|
|
|
|||||
| ₹ | 42,174 | ₹ | 42,719 | |||||
|
|
|
|
|
|||||
| (1) | Costs to obtain contracts amortization of ₹ 629 and ₹ 683 during the three months ended June 30, 2025 and 2026 respectively. |
| (2) | Costs to fulfil contracts amortization of ₹ 40 and ₹ 44 during the three months ended June 30, 2025 and 2026 respectively. |
15
13. Loans, borrowings and bank overdrafts
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Non-current |
||||||||
| Loans from institutions other than banks |
₹ | 1,962 | ₹ | — | ||||
|
|
|
|
|
|||||
| ₹ | 1,962 | ₹ | — | |||||
|
|
|
|
|
|||||
| Current |
||||||||
| Unsecured Notes 2026 (1) |
₹ | 71,052 | ₹ | — | ||||
| Borrowings from banks |
94,860 | 175,684 | ||||||
| Loans from institutions other than banks |
— | 1,959 | ||||||
| Bank overdrafts |
— | 6 | ||||||
|
|
|
|
|
|||||
| ₹ | 165,912 | ₹ | 177,649 | |||||
|
|
|
|
|
|||||
| ₹ | 167,874 | ₹ | 177,649 | |||||
|
|
|
|
|
|||||
| (1) | On June 23, 2021, Wipro IT Services LLC, a wholly owned step-down subsidiary of Wipro Limited, issued U.S.$ 750 million in unsecured notes 2026 (the “Notes”). The Notes were listed on Singapore Exchange Securities Trading Limited (SGX-ST). The Notes matured on June 23, 2026 and fully repaid. |
14. Trade payables and accrued expenses
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Non-current |
||||||||
| Accrued expenses |
₹ | 4,394 | ₹ | 4,320 | ||||
|
|
|
|
|
|||||
| ₹ | 4,394 | ₹ | 4,320 | |||||
|
|
|
|
|
|||||
| Current |
||||||||
| Trade payables |
₹ | 22,258 | ₹ | 20,912 | ||||
| Accrued expenses |
72,666 | 73,307 | ||||||
|
|
|
|
|
|||||
| ₹ | 94,924 | ₹ | 94,219 | |||||
|
|
|
|
|
|||||
| ₹ | 99,318 | ₹ | 98,539 | |||||
|
|
|
|
|
|||||
15. Other financial liabilities
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Non-current |
||||||||
| Liability on written put options to non-controlling interests (Refer to Note 18) |
₹ | 3,071 | ₹ | 3,099 | ||||
| Contingent consideration (Refer to Note 18) |
1,178 | 3,381 | ||||||
| Liabilities towards customer contracts |
719 | 378 | ||||||
| Long-term incentive payable |
376 | 119 | ||||||
| Deferred consideration for Business combination |
34 | 35 | ||||||
| Rent deposit |
12 | 11 | ||||||
| Other liabilities (1) |
1,353 | 1,276 | ||||||
|
|
|
|
|
|||||
| ₹ | 6,743 | ₹ | 8,299 | |||||
|
|
|
|
|
|||||
| Current |
||||||||
| Liability on written put options to non-controlling interests (Refer to Note 18) |
₹ | 2,628 | ₹ | — | ||||
| Liabilities towards customer contracts |
721 | 518 | ||||||
| Capital creditors |
689 | 387 | ||||||
| Advance from customers |
329 | 198 | ||||||
| Rent deposit |
477 | 361 | ||||||
| Contingent consideration (Refer to Note 18) |
456 | 459 | ||||||
| Interest accrued on loans and borrowings |
541 | 330 | ||||||
| Deferred consideration for Business combination |
118 | 410 | ||||||
| Unclaimed dividend |
177 | 168 | ||||||
| Other liabilities (2) |
5,221 | 1,474 | ||||||
|
|
|
|
|
|||||
| ₹ | 11,357 | ₹ | 4,305 | |||||
|
|
|
|
|
|||||
| ₹ | 18,100 | ₹ | 12,604 | |||||
|
|
|
|
|
|||||
| (1) | Includes payable to selling shareholders of DTS |
| (2) | Year ended March 31, 2026 includes liability on non-designated hedges |
16. Other liabilities
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Non-current |
||||||||
| Statutory and other liabilities |
₹ | 17,877 | ₹ | 19,468 | ||||
| Employee benefits obligations |
5,165 | 5,364 | ||||||
|
|
|
|
|
|||||
| ₹ | 23,042 | ₹ | 24,832 | |||||
|
|
|
|
|
|||||
| Current |
||||||||
| Employee benefits obligations |
₹ | 17,967 | ₹ | 19,514 | ||||
| Statutory and other liabilities |
16,012 | 17,697 | ||||||
| Advance from customers |
822 | 1,089 | ||||||
|
|
|
|
|
|||||
| ₹ | 34,801 | ₹ | 38,300 | |||||
|
|
|
|
|
|||||
| ₹ | 57,843 | ₹ | 63,132 | |||||
|
|
|
|
|
|||||
16
17. Provisions
| As at | ||||||||
| March 31, 2026 | June 30, 2026 | |||||||
| Non-current |
||||||||
| Provision for onerous contracts |
₹ | 224 | ₹ | 144 | ||||
|
|
|
|
|
|||||
| ₹ | 224 | ₹ | 144 | |||||
|
|
|
|
|
|||||
| Current |
||||||||
| Provision for onerous contracts |
₹ | 1,184 | ₹ | 924 | ||||
| Provision for warranty |
214 | 199 | ||||||
| Others |
98 | 97 | ||||||
|
|
|
|
|
|||||
| ₹ | 1,496 | ₹ | 1,220 | |||||
|
|
|
|
|
|||||
| ₹ | 1,720 | ₹ | 1,364 | |||||
|
|
|
|
|
|||||
18. Financial instruments
The carrying value of financial instruments by categories as at March 31, 2026 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 10) |
₹ | — | ₹ | — | ₹ | — | ₹ | 105,555 | ₹ | 105,555 | ||||||||||
| Investments (Refer to Note 8) |
||||||||||||||||||||
| Equity Instruments |
7,336 | — | 12,143 | — | 19,479 | |||||||||||||||
| Fixed maturity plan mutual funds |
1,281 | — | — | — | 1,281 | |||||||||||||||
| Short-term mutual funds |
79,719 | — | — | — | 79,719 | |||||||||||||||
| Non-convertible debentures |
— | 210,328 | — | — | 210,328 | |||||||||||||||
| Government securities |
— | 8,948 | — | — | 8,948 | |||||||||||||||
| Commercial papers |
— | 14,227 | — | — | 14,227 | |||||||||||||||
| Bonds |
— | 10,385 | — | — | 10,385 | |||||||||||||||
| Inter corporate and term deposits |
— | — | — | 121,366 | 121,366 | |||||||||||||||
| Other financial assets |
||||||||||||||||||||
| Trade receivables |
— | — | — | 136,250 | 136,250 | |||||||||||||||
| Unbilled receivables |
— | — | — | 84,256 | 84,256 | |||||||||||||||
| Other financial assets (Refer to Note 11) |
— | — | — | 16,504 | 16,504 | |||||||||||||||
| Derivative assets (Refer to Note 18) |
295 | — | 593 | — | 888 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| ₹ | 88,631 | ₹ | 243,888 | ₹ | 12,736 | ₹ | 463,931 | ₹ | 809,186 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Financial Liabilities: |
||||||||||||||||||||
| Trade payables and other financial liabilities |
||||||||||||||||||||
| Trade payables and accrued expenses (Refer to Note 14) |
₹ | — | ₹ | — | ₹ | — | ₹ | 99,318 | ₹ | 99,318 | ||||||||||
| Other financial liabilities (Refer to Note 15) |
1,634 | — | — | 16,466 | 18,100 | |||||||||||||||
| Loans, borrowings and bank overdrafts (Refer to Note 13) |
— | — | — | 167,874 | 167,874 | |||||||||||||||
| Lease liabilities |
— | — | — | 35,036 | 35,036 | |||||||||||||||
| Derivative liabilities (Refer to Note 18) |
1,453 | — | 9,525 | — | 10,978 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| ₹ | 3,087 | ₹ | — | ₹ | 9,525 | ₹ | 318,694 | ₹ | 331,306 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
17
The carrying value of financial instruments by categories as at June 30, 2026 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 10) |
₹ | — | ₹ | — | ₹ | — | ₹ | 88,444 | ₹ | 88,444 | ||||||||||
| Investments (Refer to Note 8) |
||||||||||||||||||||
| Equity Instruments |
7,683 | — | 12,681 | — | 20,364 | |||||||||||||||
| Fixed maturity plan mutual funds |
524 | — | — | — | 524 | |||||||||||||||
| Short-term mutual funds |
36,133 | — | — | — | 36,133 | |||||||||||||||
| Non-convertible debentures |
— | 136,784 | — | — | 136,784 | |||||||||||||||
| Government securities |
— | 8,849 | — | — | 8,849 | |||||||||||||||
| Commercial papers |
— | 7,832 | — | — | 7,832 | |||||||||||||||
| Bonds |
— | 7,150 | — | — | 7,150 | |||||||||||||||
| Certificate of deposits |
— | 951 | — | — | 951 | |||||||||||||||
| Inter corporate and term deposits |
— | — | — | 117,875 | 117,875 | |||||||||||||||
| Other financial assets |
||||||||||||||||||||
| Trade receivables |
— | — | — | 133,056 | 133,056 | |||||||||||||||
| Unbilled receivables |
— | — | — | 88,310 | 88,310 | |||||||||||||||
| Other financial assets (Refer to Note 11) |
— | — | — | 19,382 | 19,382 | |||||||||||||||
| Derivative assets (Refer to Note 18) |
586 | — | 1,339 | — | 1,925 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| ₹ | 44,926 | ₹ | 161,566 | ₹ | 14,020 | ₹ | 447,067 | ₹ | 667,579 | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
| Financial Liabilities: |
||||||||||||||||||||
| Trade payables and other financial liabilities |
||||||||||||||||||||
| Trade payables and accrued expenses (Refer to Note 14) |
₹ | — | ₹ | — | ₹ | — | ₹ | 98,539 | ₹ | 98,539 | ||||||||||
| Other financial liabilities (Refer to Note 15) |
3,840 | — | — | 8,764 | 12,604 | |||||||||||||||
| Loans, borrowings and bank overdrafts (Refer to Note 13) |
— | — | — | 177,649 | 177,649 | |||||||||||||||
| Lease liabilities |
— | — | — | 35,173 | 35,173 | |||||||||||||||
| Derivative liabilities (Refer to Note 18) |
18 | — | 4,627 | — | 4,645 | |||||||||||||||
|
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|
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|
|
|
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|
|
|
|||||||||||
| ₹ | 3,858 | ₹ | — | ₹ | 4,627 | ₹ | 320,125 | ₹ | 328,610 | |||||||||||
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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 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, 2026 and June 30, 2026, the carrying value of such financial assets, net of allowances, and liabilities, approximates the fair value.
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, bonds and certificate of deposits 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.
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 transfers between Level 1, 2 and 3 during the year ended March 31, 2026 and three months ended June 30, 2026.
The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:
| As at | ||||||||||||||||||||||||||||||||
| March 31, 2026 | June 30, 2026 | |||||||||||||||||||||||||||||||
| 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 |
₹ | 593 | ₹ | — | ₹ | 593 | ₹ | — | ₹ | 1,339 | ₹ | — | ₹ | 1,339 | ₹ | — | ||||||||||||||||
| Others |
295 | — | 295 | — | 586 | — | 586 | — | ||||||||||||||||||||||||
| Investments: |
||||||||||||||||||||||||||||||||
| Short-term mutual funds |
79,719 | 79,719 | — | — | 36,133 | 36,133 | — | — | ||||||||||||||||||||||||
| Fixed maturity plan mutual funds |
1,281 | — | 1,281 | — | 524 | — | 524 | — | ||||||||||||||||||||||||
| Equity instruments |
19,479 | 36 | — | 19,443 | 20,364 | 43 | — | 20,321 | ||||||||||||||||||||||||
| Non-convertible debentures, government securities, commercial papers, bonds and certificate of deposits |
243,888 | 8,854 | 235,034 | — | 161,566 | 8,749 | 152,817 | — | ||||||||||||||||||||||||
18
| Liabilities |
||||||||||||||||||||||||||||||||
| Derivative instruments: |
||||||||||||||||||||||||||||||||
| Cash flow hedges |
₹ | (9,525 | ) | ₹ | — | (9,525 | ) | ₹ | — | (4,627 | ) | ₹ | — | (4,627 | ) | ₹ | — | |||||||||||||||
| Others |
(1,453 | ) | — | (1,453 | ) | — | (18 | ) | — | (18 | ) | — | ||||||||||||||||||||
| Liability on written put options to non-controlling interests |
(5,699 | ) | — | — | (5,699 | ) | (3,099 | ) | — | — | (3,099 | ) | ||||||||||||||||||||
| Contingent consideration |
(1,634 | ) | — | — | (1,634 | ) | (3,840 | ) | — | — | (3,840 | ) |
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 June 30, 2026, 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, bonds and certificate of deposits | 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. | |
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 interests | 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, 2026 and three months ended June 30, 2026:
| As at | ||||||||
| Investment in equity instruments | March 31, 2026 | June 30, 2026 | ||||||
| Balance at the beginning of the period |
₹ | 17,391 | ₹ | 19,443 | ||||
| Additions |
2,038 | 655 | ||||||
| Disposals (1) |
(1,199 | ) | (144 | ) | ||||
| Gain/(loss) recognized in consolidated statement of income |
768 | 94 | ||||||
| Gain/(loss) recognized in other comprehensive income |
(1,431 | ) | 296 | |||||
| Translation adjustment |
1,876 | (23 | ) | |||||
|
|
|
|
|
|||||
| Balance at the end of the period |
₹ | 19,443 | ₹ | 20,321 | ||||
|
|
|
|
|
|||||
| (1) | During the year ended March 31, 2026, as a result of an acquisition by another investors, the Company sold its shares of equity instruments in three companies at a fair value of ₹ 585 and recognized a cumulative gain of ₹ 389 in other comprehensive income and cumulative loss of ₹ 138 in consolidated statement of income. |
19
| As at | ||||||||
| Contingent consideration | March 31, 2026 | June 30, 2026 | ||||||
| Balance at the beginning of the period |
₹ | (1,864 | ) | ₹ | (1,634 | ) | ||
| Addition (1) |
(49 | ) | — | |||||
| Addition through Business combination (Refer to Note 7) |
— | (2,141 | ) | |||||
| Payouts |
648 | — | ||||||
| Finance expense recognized in consolidated statement of income |
(195 | ) | (64 | ) | ||||
| Translation adjustment |
(174 | ) | (1 | ) | ||||
|
|
|
|
|
|||||
| Balance at the end of the period |
₹ | (1,634 | ) | ₹ | (3,840 | ) | ||
|
|
|
|
|
|||||
| (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, 2026 | June 30, 2026 | ||||||
| Balance at the beginning of the period |
₹ | (4,945 | ) | ₹ | (5,699 | ) | ||
| Finance expense recognized in consolidated statement of income |
(585 | ) | (73 | ) | ||||
| Changes in fair value of written put options |
385 | (187 | ) | |||||
| Payouts (Refer to Note 7) |
— | 2,851 | ||||||
| Translation adjustment |
(554 | ) | 9 | |||||
|
|
|
|
|
|||||
| Balance at the end of the period |
₹ | (5,699 | ) | ₹ | (3,099 | ) | ||
|
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|
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|
|||||
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.
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:
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Balance as at the beginning of the period |
₹ | (275 | ) | ₹ | (9,719 | ) | ||
| Changes in fair value of effective portion of derivatives |
(660 | ) | 3,357 | |||||
| Deferred cancellation gain/(loss), net |
5 | (493 | ) | |||||
| Net (gain)/loss reclassified to consolidated statement of income on occurrence of hedged transactions (1) |
515 | 3,461 | ||||||
| Translation gain |
6 | — | ||||||
|
|
|
|
|
|||||
| Gain/(loss) on cash flow hedging derivatives, net |
₹ | (134 | ) | ₹ | 6,325 | |||
|
|
|
|
|
|||||
| Balance as at the end of the period |
₹ | (409 | ) | ₹ | (3,394 | ) | ||
| Deferred tax asset/(liability) thereon |
99 | 854 | ||||||
|
|
|
|
|
|||||
| Balance as at the end of the period, net of deferred taxes |
₹ | (310 | ) | ₹ | (2,540 | ) | ||
|
|
|
|
|
|||||
| (1) | Includes net (gain)/loss reclassified to revenue of ₹ 640 and ₹ 4,212 for the three months ended June 30, 2025, and 2026, respectively; net (gain)/loss reclassified to cost of revenues of ₹ (74) and ₹ (751) for the three months ended June 30, 2025, and 2026, respectively and net (gain)/loss reclassified to finance expenses of ₹ (51) and ₹ Nil for the three months ended June 30, 2025, and 2026, respectively. |
The related hedge transactions for balance in cash flow hedging reserves as at June 30, 2026 are expected to occur and be reclassified to the statement of income over a period of 12 months.
As at June 30, 2025 and 2026, 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.
20
19. Foreign currency translation reserve and Other reserves
The movement in foreign currency translation reserve attributable to equity holders of the Company is summarized below:
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Balance at the beginning of the period |
₹ | 54,500 | ₹ | 100,872 | ||||
| Translation difference related to foreign operations, net |
6,575 | (1,156 | ) | |||||
| Transfer of shares pertaining to Non-controlling interests of subsidiary |
— | 59 | ||||||
| Others |
(5 | ) | — | |||||
|
|
|
|
|
|||||
| Balance at the end of the period |
₹ | 61,070 | ₹ | 99,775 | ||||
|
|
|
|
|
|||||
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, 2025 |
₹ | (135 | ) | ₹ | 2,360 | ₹ | 1,220 | ₹ | — | ₹ | (4,238 | ) | ||||||||
| Other comprehensive income |
(224 | ) | 588 | (1 | ) | — | — | |||||||||||||
| As at June 30, 2025 |
₹ | (359 | ) | ₹ | 2,948 | ₹ | 1,219 | ₹ | — | ₹ | (4,238 | ) | ||||||||
| As at April 1, 2026 |
₹ | 17 | ₹ | 266 | ₹ | (228 | ) | ₹ | — | ₹ | (4,238 | ) | ||||||||
| Other comprehensive income |
392 | 482 | 660 | — | — | |||||||||||||||
| Buyback of equity shares |
— | — | — | 1,200 | — | |||||||||||||||
| Transfer of shares pertaining to Non-controlling interests of subsidiary |
^ | — | — | — | 2,094 | |||||||||||||||
| As at June 30, 2026 |
₹ | 409 | ₹ | 748 | ₹ | 432 | ₹ | 1,200 | ₹ | (2,144 | ) | |||||||||
20. Income taxes
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Income tax expense as per the consolidated statement of income |
₹ | 9,218 | ₹ | 9,782 | ||||
| Income tax included in other comprehensive income on: |
||||||||
| Gains/(losses) on investment securities |
112 | (249 | ) | |||||
| Gains/(losses) on cash flow hedging derivatives |
(35 | ) | 1,466 | |||||
| Remeasurements of the defined benefit plans |
(88 | ) | 120 | |||||
|
|
|
|
|
|||||
| ₹ | 9,207 | ₹ | 11,119 | |||||
|
|
|
|
|
|||||
Income tax expense consists of the following:
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Current tax expense |
₹ | 10,051 | ₹ | 10,207 | ||||
| Deferred tax expense/(reversal) |
(833 | ) | (425 | ) | ||||
|
|
|
|
|
|||||
| ₹ | 9,218 | ₹ | 9,782 | |||||
|
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|
|
|
|||||
Income tax expenses are net of provision recorded/(reversal) of taxes pertaining to earlier periods, amounting to ₹ (2,711) and ₹ (671) for the three months ended June 30, 2025 and 2026, respectively.
The Pillar Two legislations are neither enacted nor substantively enacted by Government of India, where the Parent company is incorporated. Pillar Two legislation has been enacted, or substantively enacted, in certain other jurisdictions where the Company operates. However, the Company does not expect any material financial impact for the three months ended June 30, 2026. In line with amended IAS 12, the Company has not recognized deferred taxes related to Pillar Two income taxes and accordingly has applied the mandatory exception as per the said standard.
The Company has moved to the new tax regime as specified under Section 200 of the Income Tax Act 2025 for the fiscal year 2026-27. Accordingly, the Income-Tax expense has been recognized by applying the provisions of said section without claim of deduction for SEZ units under Section 144 of the Income-tax Act.
21. Revenues
The tables below present disaggregated revenue from contracts with customers by business segment (Refer to Note 28 “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 June 30, 2025 is as follows:
| IT Services | IT Products | Total | ||||||||||||||||||||||||||
| Americas 1 | Americas 2 | Europe | APMEA | Total | ||||||||||||||||||||||||
| A. Revenue |
||||||||||||||||||||||||||||
| Rendering of services |
₹ | 78,973 | ₹ | 61,086 | ₹ | 56,766 | ₹ | 23,793 | ₹ | 220,618 | ₹ | — | ₹ | 220,618 | ||||||||||||||
| Sale of products |
— | — | — | — | — | 728 | 728 | |||||||||||||||||||||
|
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|
|||||||||||||||
| ₹ | 78,973 | ₹ | 61,086 | ₹ | 56,766 | ₹ | 23,793 | ₹ | 220,618 | ₹ | 728 | ₹ | 221,346 | |||||||||||||||
|
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|||||||||||||||
| B. Revenue by sector |
||||||||||||||||||||||||||||
| Banking, Financial Services and Insurance |
₹ | — | ₹ | 42,927 | ₹ | 20,923 | ₹ | 10,286 | ₹ | 74,136 | ||||||||||||||||||
| Health |
28,215 | 26 | 3,124 | 869 | 32,234 | |||||||||||||||||||||||
| Consumer |
26,810 | 345 | 10,657 | 3,237 | 41,049 | |||||||||||||||||||||||
| Technology and Communications |
22,587 | 205 | 8,150 | 3,255 | 34,197 | |||||||||||||||||||||||
| Energy, Manufacturing and Resources |
1,361 | 17,583 | 13,912 | 6,146 | 39,002 | |||||||||||||||||||||||
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|||||||||||||||
| ₹ | 78,973 | ₹ | 61,086 | ₹ | 56,766 | ₹ | 23,793 | ₹ | 220,618 | ₹ | 728 | ₹ | 221,346 | |||||||||||||||
|
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|||||||||||||||
| C. Revenue by nature of contract |
||||||||||||||||||||||||||||
| Fixed price and volume based |
₹ | 39,822 | ₹ | 28,379 | ₹ | 32,224 | ₹ | 14,601 | ₹ | 115,026 | ₹ | — | ₹ | 115,026 | ||||||||||||||
| Time and materials |
39,151 | 32,707 | 24,542 | 9,192 | 105,592 | — | 105,592 | |||||||||||||||||||||
| Products |
— | — | — | — | — | 728 | 728 | |||||||||||||||||||||
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|||||||||||||||
| ₹ | 78,973 | ₹ | 61,086 | ₹ | 56,766 | ₹ | 23,793 | ₹ | 220,618 | ₹ | 728 | ₹ | 221,346 | |||||||||||||||
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|||||||||||||||
Information on disaggregation of revenues for the three months ended June 30, 2026 is as follows:
| IT Services | IT Products | Total | ||||||||||||||||||||||||||
| Americas 1 | Americas 2 | Europe | APMEA | Total | ||||||||||||||||||||||||
| A. Revenue |
||||||||||||||||||||||||||||
| Rendering of services |
₹ | 85,836 | ₹ | 61,924 | ₹ | 66,348 | ₹ | 29,642 | ₹ | 243,750 | ₹ | — | ₹ | 243,750 | ||||||||||||||
| Sale of products |
— | — | — | — | — | 1,036 | 1,036 | |||||||||||||||||||||
|
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|
|||||||||||||||
| ₹ | 85,836 | ₹ | 61,924 | ₹ | 66,348 | ₹ | 29,642 | ₹ | 243,750 | ₹ | 1,036 | ₹ | 244,786 | |||||||||||||||
|
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|
|
|
|||||||||||||||
| B. Revenue by sector |
||||||||||||||||||||||||||||
| Banking, Financial Services and Insurance |
₹ | 4 | ₹ | 42,420 | ₹ | 28,018 | ₹ | 12,660 | ₹ | 83,102 | ||||||||||||||||||
| Health |
29,996 | 202 | 3,277 | 824 | 34,299 | |||||||||||||||||||||||
| Consumer |
28,077 | 210 | 12,190 | 5,301 | 45,778 | |||||||||||||||||||||||
| Technology and Communications |
26,537 | 366 | 10,020 | 4,427 | 41,350 | |||||||||||||||||||||||
| Energy, Manufacturing and Resources |
1,222 | 18,726 | 12,843 | 6,430 | 39,221 | |||||||||||||||||||||||
|
|
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|
|||||||||||||||
| ₹ | 85,836 | ₹ | 61,924 | ₹ | 66,348 | ₹ | 29,642 | ₹ | 243,750 | ₹ | 1,036 | ₹ | 244,786 | |||||||||||||||
|
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|
|
|
|
|
|
|
|||||||||||||||
| C. Revenue by nature of contract |
||||||||||||||||||||||||||||
| Fixed price and volume based |
₹ | 43,666 | ₹ | 29,503 | ₹ | 37,574 | ₹ | 19,480 | ₹ | 130,223 | ₹ | — | ₹ | 130,223 | ||||||||||||||
| Time and materials |
42,170 | 32,421 | 28,774 | 10,162 | 113,527 | — | 113,527 | |||||||||||||||||||||
| Products |
— | — | — | — | — | 1,036 | 1,036 | |||||||||||||||||||||
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|
|||||||||||||||
| ₹ | 85,836 | ₹ | 61,924 | ₹ | 66,348 | ₹ | 29,642 | ₹ | 243,750 | ₹ | 1,036 | ₹ | 244,786 | |||||||||||||||
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|
|||||||||||||||
Effective April 1, 2026, the customers across Latin America and Canada are aligned with the respective industry sectors in Americas 1 and Americas 2. Additionally, Hi-tech sector and airports as a sub-sector for Americas are now subsumed under existing sectors of Americas 1. Prior period comparables are readjusted to reflect this change.
22
22. Expenses by nature
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Employee compensation |
₹ | 134,275 | ₹ | 147,531 | ||||
| Sub-contracting and technical fees |
25,578 | 28,787 | ||||||
| Cost of hardware and software |
668 | 889 | ||||||
| Travel |
3,788 | 4,181 | ||||||
| Facility expenses |
4,198 | 4,313 | ||||||
| Software license expense for internal use |
4,961 | 6,303 | ||||||
| Depreciation, amortization and impairment |
6,855 | 8,044 | ||||||
| Communication |
797 | 899 | ||||||
| Legal and professional fees |
1,889 | 3,161 | ||||||
| Rates, taxes and insurance |
1,121 | 1,193 | ||||||
| Marketing and brand building |
883 | 1,153 | ||||||
| Lifetime expected credit loss/(write-back) |
502 | (152 | ) | |||||
| (Gain)/loss on sale of property, plant and equipment, net |
(66 | ) | (139 | ) | ||||
| Miscellaneous expenses |
355 | 196 | ||||||
|
|
|
|
|
|||||
| Total cost of revenues, selling and marketing expenses and general and administrative expenses |
₹ | 185,804 | ₹ | 206,359 | ||||
|
|
|
|
|
|||||
23. Finance expenses
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Interest on loans, borrowings and bank overdrafts |
₹ | 1,684 | ₹ | 1,847 | ||||
| Interest on lease liabilities |
443 | 526 | ||||||
| Interest on liability on written put options to non-controlling interests |
136 | 73 | ||||||
| Other finance expenses |
1,345 | 2,282 | ||||||
|
|
|
|
|
|||||
| ₹ | 3,608 | ₹ | 4,728 | |||||
|
|
|
|
|
|||||
24. Finance and other income and Foreign exchange gains/(losses), net
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Interest income |
₹ | 7,327 | ₹ | 6,654 | ||||
| Net gain from investments classified as FVTPL |
2,831 | 2,164 | ||||||
| Net gain from investments classified as FVTOCI |
259 | 54 | ||||||
|
|
|
|
|
|||||
| Finance and other income |
₹ | 10,417 | ₹ | 8,872 | ||||
|
|
|
|
|
|||||
| Foreign exchange gains/(losses), net, on financial instruments measured at FVTPL |
₹ | 111 | ₹ | 411 | ||||
| Other foreign exchange gains/(losses), net |
71 | 368 | ||||||
|
|
|
|
|
|||||
| Foreign exchange gains/(losses), net |
₹ | 182 | ₹ | 779 | ||||
|
|
|
|
|
|||||
25. 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 June 30, | ||||||||
| 2025 | 2026 | |||||||
| Profit attributable to equity holders of the Company |
₹ | 33,304 | ₹ | 33,520 | ||||
| Weighted average number of equity shares outstanding |
10,472,085,808 | 10,459,341,744 | ||||||
|
|
|
|
|
|||||
| Basic earnings per equity share |
₹ | 3.18 | ₹ | 3.20 | ||||
|
|
|
|
|
|||||
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.
23
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Profit attributable to equity holders of the Company |
₹ | 33,304 | ₹ | 33,520 | ||||
| Weighted average number of equity shares outstanding |
10,472,085,808 | 10,459,341,744 | ||||||
| Effect of dilutive equivalent share options |
20,016,207 | 16,169,287 | ||||||
|
|
|
|
|
|||||
| Weighted average number of equity shares for diluted earnings per equity share |
10,492,102,015 | 10,475,511,031 | ||||||
|
|
|
|
|
|||||
| Diluted earnings per equity share |
₹ | 3.17 | ₹ | 3.20 | ||||
|
|
|
|
|
|||||
26. Employee compensation
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Salaries and bonus |
₹ | 128,481 | ₹ | 140,775 | ||||
| Employee benefits plans |
5,358 | 6,155 | ||||||
| Share-based compensation |
436 | 601 | ||||||
|
|
|
|
|
|||||
| ₹ | 134,275 | ₹ | 147,531 | |||||
|
|
|
|
|
|||||
The employee benefit cost is recognized in the following line items in the interim condensed consolidated statement of income:
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Cost of revenues |
₹ | 115,633 | ₹ | 128,141 | ||||
| Selling and marketing expenses |
11,640 | 11,531 | ||||||
| General and administrative expenses |
7,002 | 7,859 | ||||||
|
|
|
|
|
|||||
| ₹ | 134,275 | ₹ | 147,531 | |||||
|
|
|
|
|
|||||
The Company has granted below options under RSU and ADS option plan:
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Restricted Stock Units (RSU) |
6,598,279 | 8,388,373 | ||||||
| ADS RSU |
12,077,322 | 15,152,527 | ||||||
| Performance based stock options (RSUs) |
3,874,099 | 4,964,973 | ||||||
| Performance based stock options (ADS) |
8,424,826 | 12,025,558 | ||||||
During the three months ended June 30, 2026, RSU and ADS grants were issued under the Wipro Limited Employee Stock Options, Performance Stock Unit and Restricted Stock Unit Scheme 2024. Performance based stock options will vest based on the performance parameters of the Company.
27. Commitments and contingencies
Capital commitments: As at March 31, 2026 and June 30, 2026 the Company had committed to spend approximately ₹ 9,416 and ₹ 11,291 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 8 for uncalled capital commitments on investment in equity instruments.
Guarantees: As at March 31, 2026 and June 30, 2026, guarantees provided by banks on behalf of the Company to the Indian Government, customers and certain other agencies aggregate to ₹ 13,358 and ₹ 28,304 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 in India are completed for the years up to March 31, 2022. 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 ₹ 104,613 and ₹ 105,607 are not acknowledged as debt as at March 31, 2026 and June 30, 2026, 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.
24
The contingent liability in respect of disputed demands for excise duty, custom duty, sales tax and other matters amounting to ₹ 20,733 and ₹ 20,472 as of March 31, 2026, and June 30, 2026, 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.
28. 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 organized by industry sector, while Europe and APMEA are organized by countries.
Effective April 1, 2026, the customers across Latin America and Canada are aligned with the respective industry sectors in Americas 1 and Americas 2. Additionally, Hi-tech sector and airports as a sub-sector for Americas are now subsumed under existing sectors of Americas 1. Prior period comparables are readjusted to reflect this change.
Americas 1 includes the following industry sectors in the United States of America, Latin America and Canada: Communication, Media and Networks, Technology Software and Gaming, Technology New Age, Health and Consumer. Americas 2 includes the following industry sectors in the United States of America, Latin America, and Canada: Banking and Financial Services, Energy, Manufacturing and Resources and Capital Markets and Insurance. Europe consists of the United Kingdom and Ireland, Switzerland, Germany and Western Europe. APMEA consists of Australia and New Zealand, Southeast Asia, Japan, India, the Middle East, 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 AI-powered IT and IT-enabled services including AI advisory, industry & functional consulting, AI native development, customer centric design, modernization, custom application development, infrastructure services, cybersecurity services, data and analytics services, business process services, research and development, and hardware and software design. Through AI-powered, consulting-led solutions, we help our clients transform their businesses to drive better efficiencies and generate new growth opportunities.
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.
25
Information on reportable segments for the three months ended June 30, 2025 is as follows:
| IT Services | IT Products | Reconciling Items |
Total | |||||||||||||||||||||||||||||
| Americas 1 | Americas 2 | Europe | APMEA | Total | ||||||||||||||||||||||||||||
| Revenue |
₹ | 79,039 | ₹ | 61,128 | ₹ | 56,817 | ₹ | 23,816 | ₹ | 220,800 | ₹ | 728 | ₹ | — | ₹ | 221,528 | ||||||||||||||||
| Segment result |
16,316 | 12,063 | 6,026 | 2,979 | 37,384 | 20 | (2,430 | ) | 34,974 | |||||||||||||||||||||||
| Unallocated |
750 | — | — | 750 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
| Segment result total |
₹ | 38,134 | ₹ | 20 | ₹ | (2,430 | ) | ₹ | 35,724 | |||||||||||||||||||||||
| Finance expenses |
(3,608 | ) | ||||||||||||||||||||||||||||||
| Finance and other income |
10,417 | |||||||||||||||||||||||||||||||
| Share of net profit/(loss) of associate and joint venture accounted for using the equity method |
50 | |||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
| Profit before tax |
₹ | 42,583 | ||||||||||||||||||||||||||||||
| Income tax expense |
(9,218 | ) | ||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
| Profit for the period |
₹ | 33,365 | ||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
| Depreciation, amortization and impairment |
₹ | 6,855 | ||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
Information on reportable segments for the three months ended June 30, 2026 is as follows:
| IT Services | IT Products | Reconciling Items |
Total | |||||||||||||||||||||||||||||
| Americas 1 | Americas 2 | Europe | APMEA | Total | ||||||||||||||||||||||||||||
| Revenue |
₹ | 86,087 | ₹ | 62,119 | ₹ | 66,569 | ₹ | 29,754 | ₹ | 244,529 | ₹ | 1,036 | ₹ | — | ₹ | 245,565 | ||||||||||||||||
| Segment result |
16,691 | 9,874 | 9,047 | 4,362 | 39,974 | 16 | 3 | 39,993 | ||||||||||||||||||||||||
| Unallocated |
(787 | ) | — | — | (787 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
| Segment result total |
₹ | 39,187 | ₹ | 16 | ₹ | 3 | ₹ | 39,206 | ||||||||||||||||||||||||
| Finance expenses |
(4,728 | ) | ||||||||||||||||||||||||||||||
| Finance and other income |
8,872 | |||||||||||||||||||||||||||||||
| Share of net profit/(loss) of associate and joint venture accounted for using the equity method |
(5 | ) | ||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
| Profit before tax |
₹ | 43,345 | ||||||||||||||||||||||||||||||
| Income tax expense |
(9,782 | ) | ||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
| Profit for the period |
₹ | 33,563 | ||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
| Depreciation, amortization and impairment |
₹ | 8,044 | ||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||
26
Revenues from India, being Company’s country of domicile, is ₹ 4,926 and ₹ 5,448 for the three months ended June 30, 2025, and 2026, 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 June 30, | ||||||||
| 2025 | 2026 | |||||||
| United States of America |
₹ | 133,973 | ₹ | 142,768 | ||||
| United Kingdom |
21,675 | 27,723 | ||||||
|
|
|
|
|
|||||
| ₹ | 155,648 | ₹ | 170,491 | |||||
|
|
|
|
|
|||||
No customer individually accounted for more than 10% of the revenues during the three months June 30, 2025 and 2026.
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, amounting to ₹ 182 and ₹ 779 for the three months ended June 30, 2025 and 2026, respectively. |
| d) | Restructuring cost of ₹ 2,469 and ₹ Nil for the three months ended June 30, 2025 and 2026, respectively is included under Reconciling items. |
| e) | “Unallocated” within IT Services segment includes: |
| Three months ended June 30, | ||||||||
| 2025 | 2026 | |||||||
| Amortization and impairment expenses on intangible assets (Refer to Note 6) |
₹ | 1,625 | ₹ | 2,407 | ||||
| Change in fair value of contingent consideration |
48 | — | ||||||
| f) | Segment results of IT Services segment are after recognition of share-based compensation expense of ₹ 436 and ₹ 601 for the three months ended June 30, 2025 and 2026, respectively. |
| g) | Segment results of IT Services segment are after recognition of (gain)/loss on sale of property, plant and equipment of ₹ (66) and ₹ (139) for the three months ended June 30, 2025 and 2026, respectively. |
29. List of subsidiaries, associate and joint venture as at June 30, 2026 is provided below:
| Subsidiaries |
Subsidiaries |
Subsidiaries | Country of Incorporation |
Holding | ||||
| Attune Consulting India Private Limited |
India | 100.00% | ||||||
| Capco Technologies Private Limited |
India | 100.00% | ||||||
| Wipro Chengdu Limited |
China | 8.96% | ||||||
| Wipro Holdings (UK) Limited |
Wipro Technologies SRL | U.K. Romania |
100.00% ^ | |||||
| Wipro IT Services Bangladesh Limited |
Bangladesh | 100.00% | ||||||
| Wipro IT Services UK Societas |
U.K. | 100.00% | ||||||
| Capco Consulting Middle East FZE | UAE | 100.00% | ||||||
| Designit A/S | Denmark | 100.00% | ||||||
| Designit Denmark A/S | Denmark | 100.00% | ||||||
| Designit Germany GmbH | Germany | 100.00% | ||||||
| Designit Oslo A/S | Norway | 100.00% | ||||||
| Designit Spain Digital, S.L.U | Spain | 100.00% | ||||||
| Designit T.L.V Ltd. | Israel | 100.00% | ||||||
| Wipro Bahrain Limited Co. W.L.L | Bahrain | 100.00% | ||||||
| Wipro Czech Republic IT Services s.r.o. | Czech Republic | 100.00% | ||||||
27
| Wipro CRM Services | Belgium | 100.00% | ||||||
| Wipro 4C Consulting France SAS | France | 100.00% | ||||||
| Wipro CRM Services B.V. | Netherlands | 100.00% | ||||||
| Wipro CRM Services ApS | Denmark | 100.00% | ||||||
| Wipro CRM Services UK Limited | U.K. | 100.00% | ||||||
| Grove Holdings 2 S.á.r.l | Luxembourg | 100.00% | ||||||
| Capco Solution Services GmbH | Germany | 100.00% | ||||||
| The Capital Markets Company | Italy | 100.00% | ||||||
| Italy Srl | ||||||||
| Capco Brasil Serviços E | Brazil | 99.99% | ||||||
| Consultoria Ltda | ||||||||
| The Capital Markets Company BV (1) | Belgium | 100.00% | ||||||
| PT. WT Indonesia | Indonesia | 99.60% | ||||||
| Rainbow Software LLC | Iraq | 100.00% | ||||||
| Wipro Arabia Co. Limited | Saudi Arabia | 66.67% | ||||||
| Women’s Business Park | Saudi Arabia | 100.00% | ||||||
| Technologies Limited | ||||||||
| Wipro Doha LLC | Qatar | 100.00% | ||||||
| Wipro Financial Outsourcing | U.K. | 100.00% | ||||||
| Services Limited | ||||||||
| Wipro UK Limited | U.K. | 100.00% | ||||||
| Wipro Gulf LLC | Sultanate of Oman |
99.98% | ||||||
| Wipro Information Technology | Netherlands | 100.00% | ||||||
| Netherlands BV. | ||||||||
| Wipro Gulf LLC | Sultanate of Oman |
0.02% | ||||||
| Wipro Technologies SA | Argentina | 2.62% | ||||||
| Wipro (Thailand) Co. Limited | Thailand | 0.03% | ||||||
| Wipro Technologies GmbH | Germany | 14.87% | ||||||
| Wipro Do Brasil Sistemas De | Brazil | 0.07% | ||||||
| Informatica Ltda | ||||||||
| Wipro do Brasil Technologia Ltda (1) | Brazil | 99.44% | ||||||
| Wipro Information Technology | Kazakhstan | 100.00% | ||||||
| Kazakhstan LLP | ||||||||
| Wipro Outsourcing Services | Ireland | 100.00% | ||||||
| (Ireland) Limited | ||||||||
| Wipro Portugal S.A. (1) | Portugal | 100.00% | ||||||
| Wipro Solutions Canada Limited | Canada | 100.00% | ||||||
| Wipro Technologies Limited | Russia | 99.99% | ||||||
| Wipro Technologies Peru SAC | Peru | 99.98% | ||||||
| Wipro Technologies W.T. | Costa Rica | 100.00% | ||||||
| Sociedad Anonima | ||||||||
| Wipro Technology Chile SPA | Chile | 100.00% | ||||||
| Applied Value Technologies B.V. | Netherlands | 100.00% | ||||||
| Wipro IT Service Ukraine, LLC | Ukraine | 100.00% | ||||||
| Wipro IT Services Poland SP Z.O.O | Poland | 100.00% | ||||||
| Wipro IT Services S.R.L. | Romania | 100.00% | ||||||
| Wipro Regional Headquarters | Saudi Arabia | 100.00% | ||||||
| Wipro Technologies Australia Pty Ltd | Australia | 100.00% | ||||||
| Wipro Ampion Holdings Pty Ltd (1) | Australia | 100.00% | ||||||
| Wipro Technologies SA | Argentina | 97.38% | ||||||
| Wipro Technologies SA DE CV | Mexico | 91.08% | ||||||
| Wipro Technologies South Africa | South Africa | 69.42% | ||||||
| (Proprietary) Limited | ||||||||
| Wipro Technologies Nigeria Limited | Nigeria | 99.84% | ||||||
| Wipro Technologies SRL | Romania | 100.00% | ||||||
| Wipro (Thailand) Co. Limited | Thailand | 99.97% | ||||||
| Wipro Shanghai Limited | China | 84.63% | ||||||
28
| Wipro Technologies Nigeria Limited | Nigeria | 0.16% | ||||||
| Wipro Technologies Limited | Russia | 0.01% | ||||||
| Wipro Technologies Peru SAC | Peru | 0.02% | ||||||
| Wipro Japan KK |
Japan | 100.00% | ||||||
| Wipro Networks Pte Limited |
Singapore | 100.00% | ||||||
| Applied Value Technologies Pte. Limited | Singapore | 100.00% | ||||||
| Wipro Chengdu Limited | China | 91.04% | ||||||
| PT. WT Indonesia | Indonesia | 0.40% | ||||||
| Wipro (Thailand) Co. Limited | Thailand | ^ | ||||||
| Wipro (Dalian) Limited | China | 100.00% | ||||||
| Wipro Technologies SDN BHD | Malaysia | 100.00% | ||||||
| Wipro (Tianjin) Limited | China | 100.00% | ||||||
| Mindsprint Pte Ltd. (4) | Singapore | 100.00% | ||||||
| Mindsprint Digital India Pvt. Ltd. | India | 99.99% | ||||||
| Mindsprint UK Limited | UK | 100.00% | ||||||
| Mindsprint Solutions Company (1) | Saudi Arabia | 100.00% | ||||||
| Mindsprint Malaysia SDN BHD | Malaysia | 100.00% | ||||||
| Mindsprint Digital India Pvt. Ltd. (4) | India | 0.01% | ||||||
| Wipro Philippines, Inc. |
Philippines | 100.00% | ||||||
| Wipro Shanghai Limited |
China | 15.37% | ||||||
| Wipro Travel Services Limited |
India | 100.00% | ||||||
| Wipro, LLC |
USA | 100.00% | ||||||
| Wipro Technologies SA DE CV | Mexico | 8.92% | ||||||
| Wipro Gallagher Solutions, LLC | USA | 100.00% | ||||||
| Wipro Insurance Solutions, LLC | USA | 100.00% | ||||||
| Wipro IT Services, LLC | USA | 100.00% | ||||||
| Aggne Global Inc. (2) | USA | 80.00% | ||||||
| Edgile, LLC | USA | 100.00% | ||||||
| HealthPlan Services, Inc. (1) | USA | 100.00% | ||||||
| Infocrossing, LLC | USA | 100.00% | ||||||
| International TechneGroup | USA | 100.00% | ||||||
| Incorporated (1) | ||||||||
| Wipro NextGen Enterprise Inc. (1) | USA | 100.00% | ||||||
| Rizing Intermediate Holdings, Inc. (1) | USA | 100.00% | ||||||
| Wipro Appirio, Inc. (1) | USA | 100.00% | ||||||
| Wipro Designit Services, Inc. (1) | USA | 100.00% | ||||||
| Wipro Telecom Consulting LLC | USA | 100.00% | ||||||
| Wipro VLSI Design Services, LLC | USA | 100.00% | ||||||
| Applied Value Technologies, Inc. | USA | 100.00% | ||||||
| Wipro Business Services LLC | USA | 100.00% | ||||||
| The Capital Markets Company, LLC (1) | USA | 100.00% | ||||||
| Aggne Global IT Services Private |
India | 80.00% | ||||||
| Limited (3) |
||||||||
| Wipro, Inc. |
USA | 100.00% | ||||||
| Wipro Life Science Solutions, LLC | USA | 100.00% | ||||||
| Wipro Connected Services, Inc. |
USA | 100.00% | ||||||
| Wipro Connected Services | Mauritius | 100.00% | ||||||
| Mauritius Pvt Ltd | ||||||||
| Connected Services Corporation | India | 98.40% | ||||||
| Wipro India Private Limited | ||||||||
| Connected Services Corporation | India | 1.60% | ||||||
| Wipro India Private Limited | ||||||||
| Wipro Connected Services | USA | 100.00% | ||||||
| Engineering Corp. | ||||||||
| Wipro Connected Services UK Limited | UK | 100.00% | ||||||
| Harman Connected Services | Morocco | 100.00% | ||||||
| Morocco | ||||||||
29
| Wipro Connected Services US | USA | 100.00 | % | |||||||
| Midco LLC | ||||||||||
| Wipro Connected Services AB (Formerly known as Harman Connected Services AB) (1) | Sweden | 100.00 | % | |||||||
| The Wipro SA Broad Based |
||||||||||
| Ownership Scheme Trust |
||||||||||
| Wipro SA Broad Based Ownership | 100.00 | % | ||||||||
| Scheme SPV (RF) (PTY) LTD | ||||||||||
| Wipro Technologies South Africa (Proprietary) Limited | South Africa | 30.58 | % |
^ Value is less than 0.01%
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.
| (4) | The Company, through its subsidiary, has acquired 100% shareholding in Mindsprint Pte. Ltd. and its subsidiaries, effective May 15, 2026. |
| (3) | The Company has acquired an additional 20% stake in Aggne Global IT Services Private Limited, with effect from June 18, 2026. |
| (2) | The step-down subsidiary of the Company, Wipro IT Services, LLC has acquired an additional 20% stake in Aggne Global Inc., with effect from June 1, 2026. |
| (1) | Step Subsidiary details of The Capital Markets Company LLC, 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, Wipro Portugal S.A., Wipro Connected Services AB and Mindsprint Solutions Company are as follows: |
| Subsidiaries |
Subsidiaries |
Subsidiaries |
Country of |
Holding | ||||
| The Capital Markets Company, LLC |
USA | |||||||
| Capco Consulting Services LLC | USA | 100.00% | ||||||
| HealthPlan Services, Inc. |
USA | |||||||
| HealthPlan Services Insurance | USA | 100.00% | ||||||
| Agency, LLC | ||||||||
| International TechneGroup Incorporated |
USA | |||||||
| International TechneGroup Ltd. | U.K. | 100.00% | ||||||
| ITI Proficiency Ltd | Israel | 100.00% | ||||||
| MechWorks S.R.L. | Italy | 100.00% | ||||||
| Wipro NextGen Enterprise Inc. |
USA | |||||||
| LeanSwift AB | Sweden | 100.00% | ||||||
| Rizing Intermediate Holdings, Inc. |
USA | |||||||
| Rizing Lanka (Private) Ltd | Sri Lanka | 100.00% | ||||||
| Attune Netherlands B.V. (5) | Netherlands | 100.00% | ||||||
| Rizing Solutions Canada Inc. | Canada | 100.00% | ||||||
| Rizing LLC | USA | 100.00% | ||||||
| Rizing B.V. | Netherlands | 100.00% | ||||||
| Rizing Consulting Ireland Limited | Ireland | 100.00% | ||||||
| Rizing Consulting Pty Ltd. | Australia | 100.00% | ||||||
| Rizing Geospatial LLC | USA | 100.00% | ||||||
| Rizing GmbH | Germany | 100.00% | ||||||
| Rizing Limited | U.K. | 100.00% |
30
| Rizing Pte Ltd. (5) | Singapore | 100.00% | ||||||
| The Capital Markets Company BV |
Belgium | |||||||
| CapAfric Consulting (Pty) Ltd | South Africa | 100.00% | ||||||
| Capco Belgium BV | Belgium | 100.00% | ||||||
| The Capital Markets Company s.r.o | Slovakia | 15.00% | ||||||
| Capco Consultancy (Thailand) Ltd | Thailand | 0.04% | ||||||
| Capco Consultancy (Malaysia) Sdn. Bhd | Malaysia | 100.00% | ||||||
| Capco Consultancy (Thailand) Ltd | Thailand | 99.92% | ||||||
| Capco Consulting Singapore Pte. Ltd | Singapore | 100.00% | ||||||
| Capco Greece Single Member P.C | Greece | 100.00% | ||||||
| Capco Poland sp. z.o.o | Poland | 100.00% | ||||||
| The Capital Markets Company | U.K. | 100.00% | ||||||
| (UK) Ltd | ||||||||
| Capco Consultancy (Thailand) Ltd | Thailand | 0.04% | ||||||
| The Capital Markets Company Limited | Hong Kong | 0.01% | ||||||
| The Capital Markets Company GmbH | Germany | 100.00% | ||||||
| Capco Austria GmbH | Austria | 100.00% | ||||||
| The Capital Markets Company Limited | Hong Kong | 99.99% | ||||||
| The Capital Markets Company Limited | Canada | 100.00% | ||||||
| Capco Brasil Serviços E Consultoria Ltda | Brazil | 0.01% | ||||||
| The Capital Markets Company S.á.r.l | Switzerland | 100.00% | ||||||
| Andrion AG | Switzerland | 100.00% | ||||||
| The Capital Markets Company S.A.S | France | 100.00% | ||||||
| The Capital Markets Company s.r.o | Slovakia | 85.00% | ||||||
| Wipro Ampion Holdings Pty Ltd |
Australia | |||||||
| Wipro Revolution IT Pty Ltd | Australia | 100.00% | ||||||
| Wipro Shelde Australia Pty Ltd | Australia | 100.00% | ||||||
| Wipro Appirio, Inc. |
USA | |||||||
| Wipro Appirio (Ireland) Limited | Ireland | 100.00% | ||||||
| Wipro Appirio UK Limited | U.K. | 100.00% | ||||||
| Topcoder, LLC | USA | 100.00% | ||||||
| Wipro Designit Services, Inc. |
USA | |||||||
| Wipro Designit Services Limited | Ireland | 100.00% | ||||||
| Wipro do Brasil Technologia Ltda |
Brazil | |||||||
| Wipro do Brasil Servicos Ltda | Brazil | 100.00% | ||||||
| Wipro Do Brasil Sistemas De Informatica Ltda | Brazil | 96.84% | ||||||
| Wipro Portugal S.A. |
Portugal | |||||||
| Wipro do Brasil Technologia Ltda | Brazil | 0.56% | ||||||
| Wipro Do Brasil Sistemas De Informatica Ltda | Brazil | 3.09% | ||||||
| Wipro Technologies GmbH | Germany | 85.13% | ||||||
| Wipro Business Solutions GmbH (5) | Germany | 100.00% | ||||||
| Wipro IT Services Austria GmbH | Austria | 100.00% | ||||||
| Wipro Connected Services AB (Formerly known as Harman Connected Services AB) |
Sweden | |||||||
| Wipro Connected Services Solutions (Chengdu) Co. Ltd. (Formerly known as Harman Connected Services Solutions (Chengdu) Co. Ltd.) | China | 100.00% | ||||||
| Mindsprint Solutions Company |
Saudi Arabia | |||||||
| Mindsprint Inc. | USA | 100.00% |
31
| (5) | Step Subsidiary details of Attune Netherlands B.V., Rizing Pte Ltd. and Wipro Business Solutions GmbH are as follows: |
| Subsidiaries |
Subsidiaries |
Subsidiaries |
|
Country of | ||||
| Attune Netherlands B.V. |
Netherlands | |||||||
| Rizing Germany GmbH | Germany | 100.00% | ||||||
| Attune Italia S.R.L | Italy | 100.00% | ||||||
| Attune UK Ltd. | U.K. | 100.00% | ||||||
| Rizing Pte Ltd. |
Singapore | |||||||
| Rizing New Zealand Ltd. | New Zealand | 100.00% | ||||||
| Rizing Philippines Inc. | Philippines | 100.00% | ||||||
| Rizing SDN BHD | Malaysia | 100.00% | ||||||
| Rizing Solutions Pty Ltd | Australia | 100.00% | ||||||
| Wipro Business Solutions GmbH |
Germany | |||||||
| Wipro Technology Solutions S.R.L | Romania | 100.00% |
As at June 30, 2026, Wipro, LLC held 43.7% interest in Drivestream Inc. and Wipro IT Services LLC held 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 |
30. Buyback of equity shares
On April 16, 2026, the Board of Directors approved a proposal to Buyback up to 600,000,000 fully paid-up equity shares of ₹ 2 each (representing up to 5.7% of the number of equity shares in the paid-up equity share capital as at March 31, 2026) from the shareholders of the
Company on a proportionate basis by way of a tender offer at a price of ₹ 250 per equity share for an aggregate amount not exceeding ₹ 150,000 (“Buyback”), in accordance with the provisions contained in the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended and the Companies Act, 2013 and rules made thereunder (“Buyback Regulations”). Subsequently, the shareholders of the
Company approved the Buyback, by way of a special resolution, through a postal ballot.
In accordance with the provisions of the Buyback Regulations, the Letter of offer for the Buyback was filed with SEBI on June 9, 2026, and tender period for Buyback opened on June 11, 2026, and closed on June 17, 2026. The settlement of all valid bids was completed on June 24, 2026, and the equity shares bought back were extinguished on June 25, 2026.
During the three months ended June 30, 2026, the Company concluded the buyback of 600,000,000 equity shares (at a price of ₹ 250 per equity share) as approved by the Board of Directors on April 16, 2026. This has resulted in a total cash outflow of ₹ 150,497 (including transaction costs related to buyback of ₹ 497). In line with the requirement of the Companies Act, 2013, an amount of ₹ 8,457 and ₹ 141,543 has been utilized from share premium and retained earnings respectively. Further, capital redemption reserve (included in other reserves) of ₹ 1,200 (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 ₹ 1,200.
31. Events after the reporting period
The Board of Directors in their meeting held on July 16, 2026, declared an interim dividend of ₹ 2/- (U.S.$ 0.02) per equity share and ADR (100% on an equity share of par value of ₹ 2 /-).
| 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 | (DIN: 02983899) | (DIN:00009627) | Managing Director | |||
| (DIN: 10574442) | ||||||
| Anand Subramanian | Aparna C. Iyer | M. Sanaulla Khan | ||||
| Partner | Chief Financial Officer | Company Secretary | ||||
| Membership No. 110815 | Membership No.: F4129 | |||||
| Bengaluru | ||||||
| July 16, 2026 | ||||||
32
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 | ||||||||||||||||||
| AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2026 | ||||||||||||||||||
| UNDER IFRS (IASB) | ||||||||||||||||||
| (₹ in millions, except share and per share data, unless otherwise stated) | ||||||||||||||||||
| Particulars | Three months ended | Year ended | ||||||||||||||||
| June 30, 2026 |
March 31, 2026 |
June 30, 2025 |
March 31, 2026 |
|||||||||||||||
| Income |
||||||||||||||||||
| a) Revenue from operations |
244,786 | 242,363 | 221,346 | 926,240 | ||||||||||||||
| b) Foreign exchange gains/(losses), net |
779 | 325 | 182 | 1,853 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| I | Total income |
245,565 | 242,688 | 221,528 | 928,093 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| Expenses |
||||||||||||||||||
| a) Purchases of stock-in-trade |
1,235 | 1,678 | 545 | 5,755 | ||||||||||||||
| b) Changes in inventories of stock-in-trade |
(349 | ) | 237 | 121 | 171 | |||||||||||||
| c) Employee benefits expense |
147,531 | 143,408 | 134,275 | 555,855 | ||||||||||||||
| d) Depreciation, amortization and impairment |
||||||||||||||||||
| expense |
8,044 | 7,285 | 6,855 | 29,107 | ||||||||||||||
| e) Sub-contracting and technical fees |
28,787 | 27,925 | 25,578 | 107,668 | ||||||||||||||
| f) Facility expenses |
4,313 | 4,082 | 4,198 | 15,886 | ||||||||||||||
| g) Travel |
4,181 | 3,702 | 3,788 | 13,882 | ||||||||||||||
| h) Communication |
899 | 895 | 797 | 3,414 | ||||||||||||||
| i) Legal and professional fees |
3,161 | 2,661 | 1,889 | 10,199 | ||||||||||||||
| j) Software license expense for internal use |
6,303 | 5,805 | 4,961 | 21,720 | ||||||||||||||
| k) Marketing and brand building |
1,153 | 923 | 883 | 3,480 | ||||||||||||||
| l) Lifetime expected credit loss/ (write-back) |
(152 | ) | (144 | ) | 502 | 2,838 | ||||||||||||
| m) (Gain)/loss on sale of property, plant and |
||||||||||||||||||
| equipment, net |
(139 | ) | 170 | (66 | ) | (393 | ) | |||||||||||
| n) Other expenses |
1,392 | 2,098 | 1,478 | 7,260 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| II | Total expenses |
206,359 | 200,725 | 185,804 | 776,842 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| III | Finance expenses |
4,728 | 3,701 | 3,608 | 14,577 | |||||||||||||
| IV | Finance and other income |
8,872 | 8,387 | 10,417 | 36,491 | |||||||||||||
| V | Share of net profit/ (loss) of associate and joint |
|||||||||||||||||
| venture accounted for using the equity method |
(5 | ) | 27 | 50 | 257 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| VI | Profit before tax [I-II-III+IV+V] |
43,345 | 46,676 | 42,583 | 173,422 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| VII | Tax expense |
9,782 | 11,460 | 9,218 | 40,767 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| VIII Profit for the period [VI-VII] |
33,563 | 35,216 | 33,365 | 132,655 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| Other comprehensive income (OCI) |
||||||||||||||||||
| Items that will not be reclassified to profit or loss in subsequent periods |
||||||||||||||||||
| Remeasurements of the defined benefit plans, net |
392 | 363 | (229 | ) | 132 | |||||||||||||
| Net change in fair value of investment in equity instruments measured at fair value through OCI |
660 | (963 | ) | (1 | ) | (1,448 | ) | |||||||||||
| Items that will be reclassified to profit or loss in subsequent periods |
||||||||||||||||||
| Foreign currency translation differences |
(1,159 | ) | 21,655 | 6,583 | 46,643 | |||||||||||||
| Net change in time value of option contracts designated as cash flow hedges, net of taxes |
180 | 132 | (274 | ) | 55 | |||||||||||||
| Net change in intrinsic value of option contracts designated as cash flow hedges, net of taxes |
912 | (719 | ) | 170 | (1,234 | ) | ||||||||||||
| Net change in fair value of forward contracts designated as cash flow hedges, net of taxes |
3,767 | (3,682 | ) | (1 | ) | (6,015 | ) | |||||||||||
| Net change in fair value of investment in debt instruments measured at fair value through OCI, net of taxes |
482 | (1,622 | ) | 588 | (2,094 | ) | ||||||||||||
| IX | Total other comprehensive income for the period, net of taxes |
5,234 | 15,164 | 6,836 | 36,039 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| Total comprehensive income for the period [VIII+IX] |
38,797 | 50,380 | 40,201 | 168,694 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
1
| X |
Profit for the period attributable to: |
|||||||||||||||||
| Equity holders of the Company |
33,520 | 35,018 | 33,304 | 131,974 | ||||||||||||||
| Non-controlling interests |
43 | 198 | 61 | 681 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| 33,563 | 35,216 | 33,365 | 132,655 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| Total comprehensive income for the period attributable to: |
||||||||||||||||||
| Equity holders of the Company |
38,757 | 50,037 | 40,137 | 167,767 | ||||||||||||||
| Non-controlling interests |
40 | 343 | 64 | 927 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| 38,797 | 50,380 | 40,201 | 168,694 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||
| XI |
Paid up equity share capital (Par value ₹ 2 per share) |
19,807 | 20,977 | 20,965 | 20,977 | |||||||||||||
| XII |
Reserves excluding revaluation reserves and Non- controlling interests as per balance sheet | 864,391 | ||||||||||||||||
| XIII Earnings per share (EPS) |
||||||||||||||||||
| (Equity shares of par value of ₹ 2/- each) |
||||||||||||||||||
| (EPS for the three months ended periods are not annualized) |
||||||||||||||||||
| Basic (in ₹) |
3.20 | 3.34 | 3.18 | 12.60 | ||||||||||||||
| Diluted (in ₹) |
3.20 | 3.33 | 3.17 | 12.56 | ||||||||||||||
| 1. | The audited consolidated financial results of the Company for the three months ended June 30, 2026, have been approved by the Board of Directors of the Company at its meeting held on July 16, 2026. The Company confirms that its statutory auditors, Deloitte Haskins & Sells LLP have issued an audit report with unmodified opinion on the consolidated financial results for the three months ended June 30, 2026. |
| 2. | The above consolidated financial results have been prepared on the basis of the audited interim condensed consolidated financial statements for the three months ended June 30, 2026, 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 year ended March 31, 2026, includes gain on transfer of building of ₹ (405). |
| 4. | Employee benefits expense includes impact of past service cost on gratuity and remeasurement of leave encashment due to implementation of new labour code amounting to ₹ (272) for the three months ended March 31, 2026 and ₹ 2,756 for the year ended March 31, 2026. |
5. List of subsidiaries, associate and joint venture as at June 30, 2026 are provided in the table below:
| Subsidiaries |
Subsidiaries |
Subsidiaries |
Country of Incorporation |
Holding | ||||||
| Attune Consulting India Private Limited |
India |
100.00% | ||||||||
| Capco Technologies Private Limited |
India |
100.00% | ||||||||
| Wipro Chengdu Limited |
China |
8.96% | ||||||||
| Wipro Holdings (UK) Limited |
U.K. |
100.00% | ||||||||
| Wipro Technologies SRL |
Romania |
^ | ||||||||
| Wipro IT Services Bangladesh Limited |
Bangladesh |
100.00% | ||||||||
| Wipro IT Services UK Societas |
U.K. |
100.00% | ||||||||
| Capco Consulting Middle East FZE |
UAE |
100.00% | ||||||||
| Designit A/S |
Denmark |
100.00% | ||||||||
| Designit Denmark A/S |
Denmark |
100.00% | ||||||||
| Designit Germany GmbH |
Germany |
100.00% | ||||||||
| Designit Oslo A/S |
Norway |
100.00% | ||||||||
| Designit Spain Digital, S.L.U |
Spain |
100.00% | ||||||||
| Designit T.L.V Ltd. |
Israel |
100.00% | ||||||||
| Wipro Bahrain Limited Co. W.L.L |
Bahrain |
100.00% | ||||||||
| Wipro Czech Republic IT Services s.r.o. |
Czech Republic |
100.00% | ||||||||
| Wipro CRM Services |
Belgium |
100.00% | ||||||||
| Wipro 4C Consulting France SAS |
France |
100.00% | ||||||||
| Wipro CRM Services B.V. |
Netherlands |
100.00% | ||||||||
| Wipro CRM Services ApS |
Denmark |
100.00% | ||||||||
2
| Wipro CRM Services UK Limited |
U.K. |
100.00% | ||||||||
| Grove Holdings 2 S.á.r.l |
Luxembourg |
100.00% | ||||||||
| Capco Solution Services GmbH |
Germany |
100.00% | ||||||||
| The Capital Markets Company |
Italy |
100.00% | ||||||||
| Italy Srl |
||||||||||
| Capco Brasil Serviços E |
Brazil |
99.99% | ||||||||
| Consultoria Ltda |
||||||||||
| The Capital Markets Company |
Belgium |
100.00% | ||||||||
| BV (1) |
||||||||||
| PT. WT Indonesia |
Indonesia |
99.60% | ||||||||
| Rainbow Software LLC |
Iraq |
100.00% | ||||||||
| Wipro Arabia Co. Limited |
Saudi Arabia |
66.67% | ||||||||
| Women’s Business Park Technologies Limited |
Saudi Arabia |
100.00% | ||||||||
| Wipro Doha LLC |
Qatar |
100.00% | ||||||||
| Wipro Financial Outsourcing |
U.K. |
100.00% | ||||||||
| Services Limited |
||||||||||
| Wipro UK Limited |
U.K. |
100.00% | ||||||||
| Wipro Gulf LLC |
Sultanate of Oman |
99.98% | ||||||||
| Wipro Information Technology Netherlands BV. | Netherlands | 100.00% | ||||||||
| Wipro Gulf LLC |
Sultanate of Oman |
0.02% | ||||||||
| Wipro Technologies SA |
Argentina |
2.62% | ||||||||
| Wipro (Thailand) Co. Limited |
Thailand |
0.03% | ||||||||
| Wipro Technologies GmbH |
Germany |
14.87% | ||||||||
| Wipro Do Brasil Sistemas De Informatica Ltda |
Brazil |
0.07% | ||||||||
| Wipro do Brasil Technologia Ltda (1) |
Brazil |
99.44% | ||||||||
| Wipro Information Technology Kazakhstan LLP |
Kazakhstan |
100.00% | ||||||||
| Wipro Outsourcing Services (Ireland) Limited |
Ireland |
100.00% | ||||||||
| Wipro Portugal S.A. (1) |
Portugal |
100.00% | ||||||||
| Wipro Solutions Canada Limited |
Canada |
100.00% | ||||||||
| Wipro Technologies Limited |
Russia |
99.99% | ||||||||
| Wipro Technologies Peru SAC |
Peru |
99.98% | ||||||||
| Wipro Technologies W.T. Sociedad Anonima |
Costa Rica |
100.00% | ||||||||
| Wipro Technology Chile SPA |
Chile |
100.00% | ||||||||
| Applied Value Technologies B.V. |
Netherlands |
100.00% | ||||||||
| Wipro IT Service Ukraine, LLC |
Ukraine |
100.00% | ||||||||
| Wipro IT Services Poland SP Z.O.O |
Poland |
100.00% | ||||||||
| Wipro IT Services S.R.L. |
Romania |
100.00% | ||||||||
| Wipro Regional Headquarters |
Saudi Arabia |
100.00% | ||||||||
| Wipro Technologies Australia Pty Ltd |
Australia |
100.00% | ||||||||
| Wipro Ampion Holdings Pty Ltd (1) |
Australia |
100.00% | ||||||||
| Wipro Technologies SA |
Argentina |
97.38% | ||||||||
| Wipro Technologies SA DE CV |
Mexico |
91.08% | ||||||||
| Wipro Technologies South Africa (Proprietary) Limited |
South Africa |
69.42% | ||||||||
| Wipro Technologies Nigeria Limited |
Nigeria |
99.84% | ||||||||
| Wipro Technologies SRL |
Romania |
100.00% | ||||||||
| Wipro (Thailand) Co. Limited |
Thailand |
99.97% | ||||||||
| Wipro Shanghai Limited |
China |
84.63% | ||||||||
| Wipro Technologies Nigeria Limited |
Nigeria |
0.16% | ||||||||
| Wipro Technologies Limited |
Russia |
0.01% | ||||||||
| Wipro Technologies Peru SAC |
Peru |
0.02% | ||||||||
| Wipro Japan KK |
Japan |
100.00% | ||||||||
3
| Wipro Networks Pte Limited |
Singapore |
100.00% | ||||||||
| Applied Value Technologies Pte. Limited |
Singapore |
100.00% | ||||||||
| Wipro Chengdu Limited |
China |
91.04% | ||||||||
| PT. WT Indonesia |
Indonesia |
0.40% | ||||||||
| Wipro (Thailand) Co. Limited |
Thailand |
^ | ||||||||
| Wipro (Dalian) Limited |
China |
100.00% | ||||||||
| Wipro Technologies SDN BHD |
Malaysia |
100.00% | ||||||||
| Wipro (Tianjin) Limited |
China |
100.00% | ||||||||
| Mindsprint Pte Ltd. (4) |
Singapore |
100.00% | ||||||||
| Mindsprint Digital India Pvt. Ltd. |
India |
99.99% | ||||||||
| Mindsprint UK Limited |
UK |
100.00% | ||||||||
| Mindsprint Solutions Company (1) |
Saudi Arabia |
100.00% | ||||||||
| Mindsprint Malaysia SDN BHD |
Malaysia |
100.00% | ||||||||
| Mindsprint Digital India Pvt. Ltd. (4) |
India |
0.01% | ||||||||
| Wipro Philippines, Inc. |
Philippines |
100.00% | ||||||||
| Wipro Shanghai Limited |
China |
15.37% | ||||||||
| Wipro Travel Services Limited |
India |
100.00% | ||||||||
| Wipro, LLC |
USA |
100.00% | ||||||||
| Wipro Technologies SA DE CV |
Mexico |
8.92% | ||||||||
| Wipro Gallagher Solutions, LLC |
USA |
100.00% | ||||||||
| Wipro Insurance Solutions, LLC |
USA |
100.00% | ||||||||
| Wipro IT Services, LLC |
USA |
100.00% | ||||||||
| Aggne Global Inc. (2) Edgile, LLC |
USA USA |
|
80.00% 100.00% |
| ||||||
| HealthPlan Services, Inc. (1) |
USA |
100.00% | ||||||||
| Infocrossing, LLC |
USA |
100.00% | ||||||||
| International TechneGroup |
USA |
100.00% | ||||||||
| Incorporated (1) |
||||||||||
| Wipro NextGen Enterprise Inc. (1) |
USA |
100.00% | ||||||||
| Rizing Intermediate Holdings, Inc. (1) |
USA |
100.00% | ||||||||
| Wipro Appirio, Inc. (1) |
USA |
100.00% | ||||||||
| Wipro Designit Services, Inc. (1) |
USA |
100.00% | ||||||||
| Wipro Telecom Consulting LLC |
USA |
100.00% | ||||||||
| Wipro VLSI Design Services, LLC |
USA | 100.00% | ||||||||
| Applied Value Technologies, Inc. |
USA |
100.00% | ||||||||
| Wipro Business Services LLC |
USA |
100.00% | ||||||||
| The Capital Markets Company, LLC (1) |
USA |
100.00% | ||||||||
| Aggne Global IT Services Private Limited (3) |
India |
80.00% | ||||||||
| Wipro, Inc. |
USA |
100.00% | ||||||||
| Wipro Life Science Solutions, LLC |
USA |
100.00% | ||||||||
| Wipro Connected Services, Inc. |
USA |
100.00% | ||||||||
| Wipro Connected Services Mauritius Pvt Ltd |
Mauritius |
100.00% | ||||||||
| Connected Services Corporation Wipro India Private Limited |
India |
98.40% | ||||||||
| Connected Services Corporation Wipro India Private Limited |
India |
1.60% | ||||||||
| Wipro Connected Services Engineering Corp. |
USA |
100.00% | ||||||||
| Wipro Connected Services UK Limited |
UK |
100.00% | ||||||||
| Harman Connected Services Morocco |
Morocco |
100.00% | ||||||||
| Wipro Connected Services US Midco LLC |
USA |
100.00% | ||||||||
| Wipro Connected Services AB (Formerly known as Harman Connected Services AB) (1) | Sweden | 100.00% |
4
| The Wipro SA Broad Based | ||||||||
| Ownership Scheme Trust | ||||||||
| Wipro SA Broad Based Ownership Scheme SPV (RF) (PTY) LTD | 100.00% | |||||||
| Wipro Technologies South Africa (Proprietary) Limited | South Africa | 30.58% | ||||||
^ Value is less than 0.01%
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.
| (4) | The Company, through its subsidiary, has acquired 100% shareholding in Mindsprint Pte. Ltd. and its subsidiaries, effective May 15, 2026. |
| (3) | The Company has acquired an additional 20% stake in Aggne Global IT Services Private Limited, with effect from June 18, 2026. |
| (2) | The step-down subsidiary of the Company, Wipro IT Services, LLC has acquired an additional 20% stake in Aggne Global Inc., with effect from June 1, 2026. |
| (1) | Step Subsidiary details of The Capital Markets Company LLC, 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, Wipro Portugal S.A., Wipro Connected Services AB and Mindsprint Solutions Company are as follows: |
| Subsidiaries |
Subsidiaries |
Subsidiaries |
Country of Incorporation |
Holding | ||||
| The Capital Markets Company, LLC |
Capco Consulting Services LLC | USA USA |
100.00% | |||||
| HealthPlan Services, Inc. |
HealthPlan Services Insurance Agency, LLC | USA USA |
100.00% | |||||
| International TechneGroup Incorporated |
USA |
|||||||
| International TechneGroup Ltd. ITI Proficiency Ltd MechWorks S.R.L. |
U.K. Israel Italy |
100.00% 100.00% 100.00% | ||||||
| Wipro NextGen Enterprise Inc. |
LeanSwift AB | USA Sweden |
100.00% | |||||
| Rizing Intermediate Holdings, Inc. |
USA |
|||||||
| Rizing Lanka (Private) Ltd |
Sri Lanka |
100.00% | ||||||
| Attune Netherlands B.V. (5) |
Netherlands |
100.00% | ||||||
| Rizing Solutions Canada Inc. |
Canada |
100.00% | ||||||
| Rizing LLC |
USA |
100.00% | ||||||
| Rizing B.V. |
Netherlands |
100.00% | ||||||
| Rizing Consulting Ireland Limited |
Ireland |
100.00% | ||||||
| Rizing Consulting Pty Ltd. |
Australia |
100.00% | ||||||
| Rizing Geospatial LLC |
USA |
100.00% | ||||||
| Rizing GmbH |
Germany |
100.00% | ||||||
| Rizing Limited |
U.K. |
100.00% | ||||||
| Rizing Pte Ltd. (5) |
Singapore |
100.00% | ||||||
| The Capital Markets Company BV |
Belgium |
|||||||
| CapAfric Consulting (Pty) Ltd |
South Africa |
100.00% | ||||||
| Capco Belgium BV |
Belgium |
100.00% | ||||||
| The Capital Markets Company s.r.o |
Slovakia |
15.00% | ||||||
| Capco Consultancy (Thailand) Ltd |
Thailand |
0.04% |
5
| Capco Consultancy (Malaysia) Sdn. Bhd | Malaysia | 100.00% | ||||||
| Capco Consultancy (Thailand) Ltd | Thailand | 99.92% | ||||||
| Capco Consulting Singapore Pte. Ltd | Singapore | 100.00% | ||||||
| Capco Greece Single Member P.C | Greece | 100.00% | ||||||
| Capco Poland sp. z.o.o | Poland | 100.00% | ||||||
| The Capital Markets Company (UK) Ltd | U.K. | 100.00% | ||||||
| Capco Consultancy (Thailand) Ltd | Thailand | 0.04% | ||||||
| The Capital Markets Company Limited | Hong Kong | 0.01% | ||||||
| The Capital Markets Company GmbH | Germany | 100.00% | ||||||
| Capco Austria GmbH | Austria | 100.00% | ||||||
| The Capital Markets Company Limited | Hong Kong | 99.99% | ||||||
| The Capital Markets Company Limited | Canada | 100.00% | ||||||
| Capco Brasil Serviços E Consultoria Ltda | Brazil | 0.01% | ||||||
| The Capital Markets Company S.á.r.l | Switzerland | 100.00% | ||||||
| Andrion AG | Switzerland | 100.00% | ||||||
| The Capital Markets Company S.A.S | France | 100.00% | ||||||
| The Capital Markets Company s.r.o | Slovakia | 85.00% | ||||||
| Wipro Ampion Holdings Pty Ltd | Australia | |||||||
| Wipro Revolution IT Pty Ltd | Australia | 100.00% | ||||||
| Wipro Shelde Australia Pty Ltd | Australia | 100.00% | ||||||
| Wipro Appirio, Inc. | USA | |||||||
| Wipro Appirio (Ireland) Limited | Ireland | 100.00% | ||||||
| Wipro Appirio UK Limited | U.K. | 100.00% | ||||||
| Topcoder, LLC | USA | 100.00% | ||||||
| Wipro Designit Services, Inc. | USA | |||||||
| Wipro Designit Services Limited | Ireland | 100.00% | ||||||
| Wipro do Brasil Technologia Ltda | Brazil | |||||||
| Wipro do Brasil Servicos Ltda | Brazil | 100.00% | ||||||
| Wipro Do Brasil Sistemas De Informatica Ltda | Brazil | 96.84% | ||||||
| Wipro Portugal S.A. | Portugal | |||||||
| Wipro do Brasil Technologia Ltda | Brazil | 0.56% | ||||||
| Wipro Do Brasil Sistemas De | Brazil | 3.09% | ||||||
| Informatica Ltda | ||||||||
| Wipro Technologies GmbH | Germany | 85.13% | ||||||
| Wipro Business Solutions GmbH (5) | Germany | 100.00% | ||||||
| Wipro IT Services Austria GmbH | Austria | 100.00% | ||||||
| Wipro Connected Services AB (Formerly known as Harman Connected Services AB) | Sweden | |||||||
| Wipro Connected Services Solutions (Chengdu) Co. Ltd. (Formerly known as Harman Connected Services Solutions (Chengdu) Co. Ltd.) | China | 100.00% | ||||||
| Mindsprint Solutions Company | Saudi Arabia | |||||||
| Mindsprint Inc. | USA | 100.00% |
6
(5) Step Subsidiary details of Attune Netherlands B.V., Rizing Pte Ltd. and Wipro Business Solutions GmbH are as follows:
| Subsidiaries |
Subsidiaries |
Subsidiaries |
Country of | |||||
| Attune Netherlands B.V. | Netherlands | |||||||
| Rizing Germany GmbH | Germany | 100.00% | ||||||
| Attune Italia S.R.L | Italy | 100.00% | ||||||
| Attune UK Ltd. | U.K. | 100.00% | ||||||
| Rizing Pte Ltd. | Singapore | |||||||
| Rizing New Zealand Ltd. | New Zealand | 100.00% | ||||||
| Rizing Philippines Inc. | Philippines | 100.00% | ||||||
| Rizing SDN BHD | Malaysia | 100.00% | ||||||
| Rizing Solutions Pty Ltd | Australia | 100.00% | ||||||
| Wipro Business Solutions GmbH | Germany | |||||||
| Wipro Technology Solutions S.R.L | Romania | 100.00% |
As at June 30, 2026, Wipro, LLC held 43.7% interest in Drivestream Inc. and Wipro IT Services LLC held 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 organized by industry sector, while Europe and APMEA are organized by countries.
Effective April 1, 2026, the customers across Latin America and Canada are aligned with the respective industry sectors in Americas 1 and Americas 2. Additionally, Hi-tech sector and airports as a sub-sector for Americas are now subsumed under existing sectors of Americas 1. Prior period comparables are readjusted to reflect this change.
Americas 1 includes the following industry sectors in the United States of America, Latin America and Canada: Communication, Media and Networks, Technology Software and Gaming, Technology New Age, Health and Consumer. Americas 2 includes the following industry sectors in the United States of America, Latin America, and Canada: Banking and Financial Services, Energy, Manufacturing and Resources and Capital Markets and Insurance. Europe consists of the United Kingdom and Ireland, Switzerland, Germany and Western Europe. APMEA consists of Australia and New Zealand, Southeast Asia, Japan, India, the Middle East, 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 AI-powered IT and IT-enabled services including AI advisory, industry & functional consulting, AI native development, customer centric design, modernization, custom application development, infrastructure services, cybersecurity services, data and analytics services, business process services, research and development, and hardware and software design. Through AI-powered, consulting-led solutions, we help our clients transform their businesses to drive better efficiencies and generate new growth opportunities.
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.
7
Information on reportable segments for the three months ended June 30, 2026, March 31, 2026, June 30, 2025, and year ended March 31, 2026 are as follows:
| Three months ended |
Year ended |
|||||||||||||||
| June
30, |
March |
June
30, |
March
31, |
|||||||||||||
| Particulars |
Audited | Audited | Audited | Audited | ||||||||||||
| Segment revenue |
||||||||||||||||
| IT Services |
||||||||||||||||
| Americas 1 |
86,087 | 85,414 | 79,039 | 328,118 | ||||||||||||
| Americas 2 |
62,119 | 61,718 | 61,128 | 246,530 | ||||||||||||
| Europe |
66,569 | 65,412 | 56,817 | 244,165 | ||||||||||||
| APMEA |
29,754 | 27,623 | 23,816 | 102,340 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total of IT Services |
244,529 | 240,167 | 220,800 | 921,153 | ||||||||||||
| IT Products |
1,036 | 2,521 | 728 | 6,940 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total segment revenue |
245,565 | 242,688 | 221,528 | 928,093 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Segment result |
||||||||||||||||
| IT Services |
||||||||||||||||
| Americas 1 |
16,691 | 18,089 | 16,316 | 69,852 | ||||||||||||
| Americas 2 |
9,874 | 10,150 | 12,063 | 46,182 | ||||||||||||
| Europe |
9,047 | 10,092 | 6,026 | 31,083 | ||||||||||||
| APMEA |
4,362 | 5,085 | 2,979 | 14,955 | ||||||||||||
| Unallocated |
(787 | ) | (1,899 | ) | 750 | (3,426 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total of IT Services |
39,187 | 41,517 | 38,134 | 158,646 | ||||||||||||
| IT Products |
16 | 211 | 20 | 559 | ||||||||||||
| Reconciling Items |
3 | 235 | (2,430 | ) | (7,954 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total segment result |
39,206 | 41,963 | 35,724 | 151,251 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Finance expenses |
(4,728 | ) | (3,701 | ) | (3,608 | ) | (14,577 | ) | ||||||||
| Finance and other income |
8,872 | 8,387 | 10,417 | 36,491 | ||||||||||||
| Share of net profit/ (loss) of associate and joint venture accounted for using the equity method |
(5 | ) | 27 | 50 | 257 | |||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Profit before tax |
43,345 | 46,676 | 42,583 | 173,422 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
Notes:
| a) | “Reconciling Items” includes elimination of inter-segment transactions and other corporate activities. |
| b) | Revenue from sale of the 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 ₹ 779, ₹ 325, and ₹ 182 for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively, ₹ 1,853 for the year ended March 31, 2026, which is reported under foreign exchange gains/(losses), net in the consolidated financial results. |
| d) | Restructuring cost of ₹ Nil, ₹ Nil and ₹ 2,469 for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively, ₹ 5,139 for the year ended March 31, 2026, is included under Reconciling Items. |
| e) | Impact of past service cost on gratuity and remeasurement of leave encashment due to implementation of new labour code amounting to ₹ (272) for the three months ended March 31, 2026 and ₹ 2,756 for the year ended March 31, 2026, is included under Reconciling items. |
| f) | “Unallocated” within IT Services segment results is after recognition of the below: |
| Three months ended | Year ended | |||||||||||||||
| Particulars |
June |
March |
June |
March 31, 2026 |
||||||||||||
| Amortization and impairment expenses on intangible assets |
2,407 | 1,840 | 1,625 | 7,787 | ||||||||||||
| Change in fair value of contingent consideration |
— | ^ | 48 | 49 | ||||||||||||
| ^ | Value is less than 0.5 |
| g) | Segment results of IT Services segment are after recognition of share-based compensation expense ₹ 601, ₹ 1,400 and ₹ 436 for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively and ₹ 4,465 for the year ended March 31, 2026. |
| h) | Segment results of IT Services segment are after recognition of (gain)/loss on sale of property, plant and equipment of ₹ (139), ₹ 170 and ₹ (66) for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively, and ₹ (393) for the year ended March 31, 2026. |
7. 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 ₹ 851, for the year ended March 31, 2026, as part of depreciation, amortization and impairment expense.
8
| 8. | Buyback of equity shares |
On April 16, 2026, the Board of Directors approved a proposal to Buyback up to 600,000,000 fully paid-up equity shares of ₹ 2 each (representing up to 5.7% of the number of equity shares in the paid-up equity share capital as at March 31, 2026) from the shareholders of the Company on a proportionate basis by way of a tender offer at a price of ₹ 250 per equity share for an aggregate amount not exceeding ₹ 150,000 (“Buyback”), in accordance with the provisions contained in the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, as amended and the Companies Act, 2013 and rules made thereunder (“Buyback Regulations”). Subsequently, the shareholders of the Company approved the Buyback, by way of a special resolution, through a postal ballot.
In accordance with the provisions of the Buyback Regulations, the Letter of offer for the Buyback was filed with SEBI on June 9, 2026, and tender period for Buyback opened on June 11, 2026, and closed on June 17, 2026. The settlement of all valid bids was completed on June 24, 2026, and the equity shares bought back were extinguished on June 25, 2026.
During the three months ended June 30, 2026, the Company concluded the buyback of 600,000,000 equity shares (at a price of ₹ 250 per equity share) as approved by the Board of Directors on April 16, 2026. This has resulted in a total cash outflow of ₹ 150,497 (including transaction costs related to buyback of ₹ 497). In line with the requirement of the Companies Act, 2013, an amount of ₹ 8,457 and ₹ 141,543 has been utilized from share premium and retained earnings respectively. Further, capital redemption reserve (included in other reserves) of ₹ 1,200 (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 ₹ 1,200.
| 9. | Events after the reporting period |
The Board of Directors in their meeting held on July 16, 2026, declared an interim dividend of ₹ 2/- (U.S.$ 0.02) per equity share and ADR (100% on an equity share of par value of ₹ 2 /-).
| By order of the Board, |
For, Wipro Limited | |
| Place: Bengaluru | Rishad A. Premji | |
| Date: July 16, 2026 | Chairman | |
9
Exhibit 99.5
W ipro Limited Highlights for the Quarter ended June 30, 2026 REVENUE QoQ Constant YoY Constant Operating $2.61 Bn Currency Currency Margin 1.2% 0.9% 16.0% STRATEGIC MARKET UNITS MIX Note 1 35.2% AMERICAS 1 25.4% AMERICAS 2 27.2% EUROPE 12.2% APMEA SECTOR MIX 34.1% 18.8% 17.0% 16.1% 14.0% Banking, Consumer Technology and Energy, Health Financial Communications Manufacturing Services and Resources and Insurance TOTAL $3.4 Bn Operating EPS $348 Mn BOOKINGS Cash Flow 2.4% QoQ CC ₹ 3.20 4.2% QoQ Operating LARGE DEAL $1.6 Bn cash 98.0% TCV 0.6% YoY Flow/Net 12.9% QoQ CC Income Revenue from our IT Services business segment to be in the range of $2,574 million to $2,627 million*. This translates to sequential guidance of (-)1.5% to OUTLOOK (+)0.5% in constant currency terms. for the Quarter ending September 30, 2026 *Outlook for the Quarter ending September 30, 2026, is based on the following exchange rates: GBP/USD at 1.34, Euro/USD at 1.16, AUD/USD at 0.71, USD/INR at 94.50 and CAD/USD at 0.71 CUSTOMER CONCENTRATION TOP1 4.4% 14.3% TOP 10 23.6% TOP 5 TOTAL HEADCOUNT 243,044 ATTRITION VOL – TTM 13.9% OFFSHORE REVENUE NET UTILIZATION 83.6% 59.7% PERCENTAGE OF SERVICES EXCLUDING TRAINEES
W ipro Limited Results for the Quarter ended June 30, 2026 FY 26–27 FY 25-26 FY 24-25 A IT Services Q1 FY Q4 Q3 Q2 Q1 FY IT Services Revenues ($Mn) 2614.5 10,478.1 2651.0 2,635.4 2,604.3 2,587.4 10,511.5 Sequential Growth -1.4% -0.3% 0.6% 1.2% 0.7% -0.3% -2.7% Sequential Growth in Constant Currency Note 2 -1.2% -1.6% 0.2% 1.4% 0.3% -2.0% -2.3% Operating Margin % Note 3 16.0% 17.2% 17.3% 17.6% 16.7% 17.3% 17.1% Strategic Market Units Mix Note 1 Americas 1 35.2% 35.6% 35.6% 35.6% 35.6% 35.8% 35.2% Americas 2 25.4% 26.8% 25.7% 26.6% 27.0% 27.7% 27.1% Europe 27.2% 26.5% 27.2% 26.7% 26.3% 25.7% 27.1% APMEA 12.2% 11.1% 11.5% 11.1% 11.1% 10.8% 10.6% Sectors Mix Banking, Financial Services and Insurance 34.1% 34.1% 34.1% 34.6% 34.3% 33.6% 34.3% Consumer 18.8% 18.4% 18.4% 18.2% 18.2% 18.6% 19.1% Technology and Communications 17.0% 16.0% 16.8% 16.0% 15.6% 15.5% 15.3% Energy, Manufacturing and Resources 16.1% 17.0% 16.5% 16.3% 17.4% 17.7% 17.2% Health 14.0% 14.5% 14.2% 14.9% 14.5% 14.6% 14.1% Total Bookings Total Bookings TCV ($Mn) Note 4 3,370 16,449 3,455 3,335 4,688 4,971 14,315 Large deal TCV ($Mn) Note 5 1,626 7,829 1,440 871 2,853 2,666 5,368 Guidance ($Mn) 2,597-2,651—2,635-2,688 2,591-2,644 2,560—2,612 2,505—2,557 - Guidance restated based on 2,592-2646—2,645-2,698 2,585-2,638 2,570 – 2,622 2,549 – 2,601 -actual currency realized ($Mn) Revenues performance against guidance 2,614—2,651 2,635 2,604 2,587 - ($Mn)
FY 26–27 FY 25-26 FY 24-25 Q1 FY Q4 Q3 Q2 Q1 FY Customer size distribution (TTM) > $100Mn 16 16 16 16 16 16 17 > $75Mn 32 29 29 31 29 27 28 > $50Mn 45 45 45 45 45 47 44 > $20Mn 110 106 106 103 104 109 111 > $10Mn 184 183 183 177 177 180 181 > $5Mn 287 289 289 281 272 281 289 > $3Mn 394 391 391 390 393 397 398 > $1Mn 714 715 715 722 730 725 716 Revenue from Existing customers % 98.9% 97.3% 94.7% 96.5% 98.6% 99.6% 99.0% Number of new customers 49 216 30 92 45 49 197 Total Number of active customers 1233 1233 1233 1272 1257 1,266 1,282 Customer Concentration Top customer 4.4% 4.6% 4.3% 4.7% 4.8% 4.7% 4.3% Top 5 14.3% 14.3% 13.8% 14.4% 14.4% 14.7% 14.0% Top 10 23.6% 23.7% 23.1% 23.7% 24.0% 24.5% 23.3% % of Revenue USD 59% 61% 60% 61% 62% 63% 62% GBP 12% 11% 12% 11% 11% 10% 10% EUR 8% 9% 9% 9% 9% 9% 10% INR 6% 5% 5% 5% 4% 4% 4% AUD 4% 4% 4% 4% 4% 3% 4% CAD 2% 3% 3% 3% 3% 3% 3% Others 9% 7% 7% 7% 7% 8% 7% Closing Employee Count 243,044 242,156 242,156 242,021 235,492 233,232 233,346 Sales & Support Staff (IT Services) 15,100 14,574 14,574 14,663 14,863 15,131 15,230 Utilization Note 6 Net Utilization (Excluding Trainees) 83.6% 84.5% 83.5% 83.1% 86.4% 85.0% 85.6% Attrition Voluntary TTM (IT Services excl. BPS) 13.9% 13.8% 13.8% 14.2% 14.9% 15.1% 15.0% BPS % — Post Training Quarterly 9.9% 8.6% 9.7% 8.5% 8.2% 8.2% 7.8% Revenue Mix Note 6 Revenue from FPP 53.6% 54.3% 55.6% 55.1% 53.0% 53.5% 56.6% Offshore Revenue — % of Services 59.7% 61.1% 62.8% 61.6% 60.2% 59.8% 60.1%
Growth Metrics B for the Quarter ended June 30, 2026 Note 2 Q1’27 Q1’27 Q1’27 Q1’27 Reported Reported CC CC QoQ% YoY% QoQ% YoY% IT Services -1.4% 1.0% -1.2% 0.9% Strategic Market UnitsNote 1 Americas 1 -2.4% -0.7% -2.3% -0.3% Americas 2 -2.6% -7.3% -2.5% -7.3% Europe -1.3% 6.8% -0.9% 6.0% APMEA 4.4% 14.3% 4.4% 13.5% Sectors Banking, Financial Services and Insurance -1.5% 2.4% -1.2% 2.6% Consumer 0.4% 2.0% 0.7% 1.9% Technology and Communications 0.1% 10.8% 0.2% 10.8% Energy, Manufacturing and Resources -3.7% -7.9% -3.6% -8.9% Health -2.5% -2.8% -2.6% -3.0% Annexure to Datasheet Segment-wise breakup of C Q1 FY26-27 (INR Mn) Cost of Revenues, S&M and G&A Reconciling Particulars IT Services IT Products Total Items Cost of revenues 173,874 1,023 3 174,900 Selling and marketing expenses 16,468 26 2 16,496 General and administrative expenses 15,000 (29) (8) 14,963 Total 205,342 1,020 (3) 206,359 Note 1: Effective April 1, 2026, the customers across Latin America and Canada are aligned with the respective industry sectors in Americas 1 and Americas 2. Additionally, hi-tech sector and airports as a sub-sector for Americas are now subsumed under existing sectors of Americas 1. Prior period comparables are readjusted to reflect this change. Note 2: 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 3: IT Services Operating Margin refers to Segment Results total as reflected in IFRS financials 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 2. Note 5: Large deal bookings constitute of deals greater than or equal to $30 million in total contract value terms Note 6: IT Services excluding BPS (Business Process Services) and entities which are not integrated in Wipro limited systems at the beginning of current fiscal year.