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6-K

Wipro Ltd (WIT)

6-K 2025-01-22 For: 2024-12-31
View Original
Added on April 08, 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 December 2024

Commission File Number 001-16139

Wipro Limited

(Exactname of Registrant as specified in its charter)

NotApplicable

(Translation of Registrant’s name into English)

Karnataka, India

(Jurisdiction of incorporation or organization)

Doddakannelli

SarjapurRoad

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

(Address of principal executiveoffices)

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

Form 20-F ☒   Form 40-F ☐

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

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

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

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

DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION

Wipro Limited, a company organized under the laws of the Republic of India (the “Company”), hereby furnishes the Commission with the following information concerning its public disclosures regarding its results of operations for the quarter ended December 31, 2024. The following information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

On January 17, 2025, the Company announced its results of operations for the quarter ended December 31, 2024. The Company issued a press release announcing its results under 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 December 31, 2024, under International Financial Reporting Standards (“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 December 31, 2024, under IFRS. A copy of such financial statements is attached to this Form 6-K as Item 99.3.

The Company filed with stock exchanges in India a statement of statutorily audited consolidated financial results for the quarter ended December 31, 2024, under IFRS. A copy of such financial statements is attached to this Form 6-K as Item 99.4.

The Company filed with stock exchanges in India a datasheet containing operating metrics for the quarter ended December 31, 2024. A copy of such data sheet is attached to this Form 6-K as Item 99.5.

SIGNATURES

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

WIPRO LIMITED
By: /s/ Aparna Chandrashekar Iyer
Aparna Chandrashekar Iyer
Chief Financial Officer
Dated: January 22, 2025

INDEX TO EXHIBITS

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

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE ****

LOGO

Wipro announces results for the quarter ended December 31, 2024

Revenue grows 0.1% QoQ, above upper end of guidance

Operating margin 12 quarter high at 17.5%; Expands 0.7% QoQ

Net income grows 24.5% YoY and 4.5% QoQ; EPS growth of 24.4% YoY

Operating cash flows at 146.5% of net income.

EAST BRUNSWICK, N.J. | BANGALORE, India – Jan 17, 2025: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended December 31, 2024.

Highlights of the Results

Results for theQuarter ended December 31, 2024:

1. Gross revenue was at<br>₹223.2 billion ($2,608.9 million^1^), an increase of 0.1% QoQ and 0.5% YoY.
2. IT services segment revenue was at $2,629.1 million, decrease of 1.2% QoQ and 1.0% YoY.<br>
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3. Non-GAAP^2^ constant<br>currency IT Services segment revenue increased 0.1% QoQ and decreased 0.7% YoY.
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4. Total bookings^3^ was at $3,514 million. Large deal<br>bookings^4^ was at $961 million, an increase of 6.0% YoY in constant currency^2^.
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5. IT services operating margin^5^ for the quarter was at<br>17.5%, an increase of 0.7% QoQ and 1.5% YoY.
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6. Net income for the quarter was at<br>₹33.5 billion ($392.0 million^1^), an increase of 4.5% QoQ and 24.5% YoY.
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7. Earnings per share for the quarter was at<br>₹3.21 ($0.04^1^), an increase of 4.6% QoQ and 24.4% YoY.
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8. Operating cash flows of<br>₹49.3 billion ($576.4 million^1^), an increase of 3.0% YoY and at 146.5% of Net Income for the quarter.<br>
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9. Voluntary attrition was at 15.3% on a trailing 12-month basis.<br>
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10. Interim dividend declared of<br>₹6 ($0.070^1^) per equity share/ADS.
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11. Capital allocation policy revised to increase the payout percentage from 45% - 50% to 70% or above of the net<br>income cumulatively on a block of 3-year period.
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1

Outlook for the Quarter ending March 31, 2025

We expect revenue from our IT Services business segment to be in the range of $2,602 million to $2,655 million*. This translates to sequential guidance of (-)1.0 % to 1.0 % in constant currency terms.

* Outlook for the Quarter ending March 31, 2025, is based on the following exchange rates: GBP/USD at1.27, Euro/USD at 1.06, AUD/USD at 0.65, USD/INR at 84.29 and CAD/USD at 0.71

Performance for the Quarter endedDecember 31, 2024

Srini Pallia, CEO and Managing Director, said “In a seasonally weak quarter, our strong in quarter executionhelped us deliver above the top end of our revenue guidance. We also achieved our highest margins in the past three years while continuing to invest in our people. We closed 17 large deals with a total value of $1B. We are advancing steadily andinvesting decisively to lead our clients in an AI-driven future.”

Aparna Iyer, Chief FinancialOfficer, said *“*We expanded margins for a fourth consecutive quarter, enabling us to achieve our previously stated target margin of 17.5%. Our EPS grew 24.4% YoY and operating cash flow was at 146.5% of net income. We arepleased to share that the board has approved our revised capital allocation policy that increases the committed payout percentage to 70% or above in a block of 3 years. In addition, board has also declared an interim dividend of INR 6 pershare.”

1. For the convenience of the readers, the amounts in Indian Rupees in this release have been translated intoUnited States Dollars at the certified foreign exchange rate of US$1 = ₹85.55, as published by the Federal Reserve Board of Governors onDecember 31, 2024. However, the realized exchange rate in our IT Services business segment for the quarter ended December 31, 2024, was US$1=₹84.76
2. Constant currency for a period is the product of volumes in that period times the average actual exchangerate of the corresponding comparative period.
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3. Total Bookings refers to the total contract value of all orders that were booked during the period includingnew 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 currencyexchange 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.
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4. Large deal bookings consist of deals greater than or equal to $30 million in total contract value.
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5. IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials.
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2

Highlights of Strategic Deal Wins

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

1. A US-based health insurance company has selected Wipro for a<br>multi-phase enterprise transformation program. Wipro will implement its industry leading Individual Consumer Affordable Care Act (ACA) and commercial Employer Group Enrolment & Billing platform. Wipro’s AI enabled “Payer-in-a-box” solution will deliver integrated enrolment processing; billing; faster payment processing; improve accuracy,<br>speed & efficiency of financial reconciliation; and enhanced customer services. The program will drive enhanced member experience, better financial management controls, as well as operational efficiency for the client.<br>
2. A US-based leading media corporation has selected Wipro to transform<br>its advertising operations and drive growth in a competitive market. Leveraging its global delivery model, deep expertise in advertising operations, and AI-powered automation, Wipro will deliver operational<br>stability, foster innovation and unlock efficiencies across the value chain for the client. Wipro’s specialized knowledge in media operations enables the delivery of tailored, high-quality, and scalable solutions designed to address the<br>client’s unique challenges.
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3. A leading Indian private banking and financial services institution has selected Wipro to transform and<br>modernize its Core Banking System. Leveraging its deep domain expertise and consultative approach, Wipro will help the client build the “Bank of the Future” – powered by a modern, scalable, and flexible digital platform. The project<br>will improve the client’s customer centricity and platform scalability, while enhancing operational efficiency.
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4. A global Telecom network solutions organization has selected Wipro as a Strategic partner to provide network<br>integration and business application services for its 5G software products in Japan. The Wipro team will leverage its deep engineering, AI, and automation expertise to provide product implementation, customization, and integration services. Wipro<br>will also transform the client’s current operating model through a vendor consolidation program. This transformation will empower the client to become more agile and drive sustainable growth to continue offering market-leading propositions to<br>its customers.
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5. One of the largest health insurers in USA has renewed its engagement with Wipro to operate an end-to-end platform to support its growing (Affordable Care Act) ACA business. Wipro will deliver a PaaS (Platform as a Service) solution and ensure data security, platform<br>stability, and seamless business continuity. Through this solution, the client will have increased flexibility to handle membership growth, improved customer service and assured compliance with regulations.
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6. A global leader in legal technology, payments and banking infrastructure has selected Wipro to improve its<br>overall business efficiency and overhaul its IT infrastructure. The Wipro team will rationalize and stabilize the client’s IT operations as well as create a dashboard for better visibility of business performance. As a result, the client will<br>see a reduction in IT incidents and operational costs, as well as increased efficiency and automation.
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3

7. Wipro has been selected by a leading Indian multinational conglomerate to provide technology support services<br>across the client’s group companies. Wipro will leverage its proprietary AI-powered solutions to deliver services around multi-cloud, data centre, business applications and<br>end-user environments. These solutions will be continuously enhanced to ensure safe, scalable, and reliable performance for the client.
8. A US-based health insurance company has renewed its engagement with<br>Wipro to continue to deliver a comprehensive Business Process as a Service (BPaaS) solution for Affordable Care Act (ACA) members. The innovative solution comprises an AI-powered contact center,<br>sales & support as well as billing & enrolment services. The project will deliver high performance and enhanced member experience while streamlining operations and complying with industry regulations.
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9. A US-based global investment manager has selected Wipro to deliver IT<br>Helpdesk and Digital workplace support services. The Wipro team will deliver personalized services, including desktop engineering and deskside solutions, to support the client’s global employee base. As a result, the client will experience more<br>reliable, stable, and scalable services as well as an enhanced employee experience.
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10. A leading European utilities provider has selected Wipro to deliver innovative AI solutions for preventative<br>maintenance of their water pipelines. Wipro leveraged its InspectAI solution to analyze and detect anomalies from videos taken inside underground water pipelines using robotics. Once rolled out at scale, the client will see a reduction of inspection<br>efforts of up to 35% and a reduction of maintenance costs of up to 20%.
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11. Wipro will support a large technology migration for a US-based health<br>insurance company and set a foundation to help them succeed in the AI era. The Wipro team also showcased an AI-powered software development solution to modernize the client’s billing platform. This<br>initiative would lead to increased productivity, reduction in defects, leading to fewer bugs and errors and more than 20% in cost savings.
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12. Wipro deployed an Intelligent Document Processing (IDP) solution and built customized AI models for a Canadian<br>automotive manufacturer. The solution streamlines the extraction of information from unstructured documents with over 90% accuracy. This project will help the client to precisely generate quotations for the<br>end-customers with a 30% improvement in the efficiency of their sales team.
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13. A global payments company has selected Wipro to modernize its financial forecasting applications. Wipro will<br>deliver a flexible cloud native application, integrating its AI-powered accelerators. This will enable multi-currency forecasting, faster deployment of new model types, and automate error notifications and<br>resolutions. Through this project the client will achieve close to 90% accuracy in forecasting and reduce the model development cycle time by 30%.
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14. A US-based pharmaceutical company has selected Wipro to improve<br>efficiency and productivity of their HR operations. The Wipro team will develop a set of Gen AI-based solutions that will enhance the client’s operations, increase the accuracy of information<br>dissemination, and improve employees’ engagement with their HR systems. The Wipro team will continue to scale and enhance this sophisticated, responsive, and intelligent system to be leveraged across the organization to simplify operations,<br>reduce workload, and improve overall efficiency.
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4

Analyst Recognition

1. Wipro was recognized as a Leader in Avasant’s Generative AI Services 2024 RadarView^™^
2. Wipro was named as a Leader in IDC MarketScape: Worldwide Cloud Security Services in the AI Era2024–2025 Vendor Assessment (Doc # US52048124 Nov 2024)
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3. Wipro was classified as a Leader in Everest Group’s Data and Analytics (D&A) Services PEAK Matrix^®^ Assessment 2024
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4. Wipro was positioned as a Leader in IDC MarketScape: Worldwide Industry Cloud Professional Services 2024Vendor Assessment (Doc # US51036624 Dec 2024)
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5. Wipro was positioned as a Horizon 3 – Market Leader in the HFS Horizons: Sustainability Services, 2024report
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6. Wipro was ranked as a Leader in Avasant’s Digital Talent Capability 2024 RadarView^™^
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7. Wipro was positioned as a Leader in Everest Group’s Semiconductor Engineering Services PEAK Matrix^®^ Assessment 2024
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8. Wipro was positioned as a Leader in Avasant’s SAP S/4HANA Services 2024–2025 RadarView^™^
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9. Wipro was featured as a Leader in ISG ProviderLens^™^—Next-Gen ADM Services 2024 (multiple quadrants)
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10. Wipro was ranked as a Leader in Avasant’s Intelligent ITOps Services 2024–2025 RadarView^™^
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11. Wipro was rated as a Leader in ISG ProviderLens^™^—Contact Center-Customer Experience Services 2024 (multiple quadrants)
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12. Wipro was recognized as a Leader in ISG ProviderLens^™^—Future of Work Services 2024 (multiple quadrants)
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13. Wipro was positioned as a Leader in the 2024Gartner^®^ Magic Quadrant^™^ for Managed Network Services
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Source & Disclaimer: *Gartner, “Magic Quadrant for Managed Network Services”, Ted Corbett, et al, 14 October 2024.

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

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

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

IT Products

1. IT Products segment revenue for the quarter was<br>₹0.7 billion ($8.7 million^1^)
2. IT Products segment results for the quarter were<br>₹0.03 billion ($0.3 million^1^)
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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.

5

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.

Results for the Quarter ended December 31, 2024, prepared under IFRS, along with individual business segment reports, are available inthe 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 (8:30 a.m. U.S. Eastern Time) to discuss our performance for the quarter. The audio from the conference call will be available online through a webcast and can be accessed at the following link- https://links.ccwebcast.com/?EventId=WIP170125

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

6

About Wipro Limited

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

Contact for Investor Relations Contact for Media & Press
Dipak Kumar Bohra Abhishek Jain Dinesh Joshi
Phone: +91-80-6142 7201 Phone: +91-80-6142 6143 Phone: +91 92052-64001
[email protected] [email protected] [email protected]

Forward-Looking Statements

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

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

#

(Tables to follow)

7

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

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

As at March 31, 2024 As at December 31, 2024
Convenience translation into USdollar in millions (unaudited)Refer to Note 2(iii)
ASSETS
Goodwill 316,002 324,686 3,795
Intangible assets 32,748 29,101 340
Property, plant and equipment 81,608 77,760 909
Right-of-Use<br>assets 17,955 21,886 256
Financial assets
Derivative assets 25 — —
Investments 21,629 30,100 352
Trade receivables 4,045 599 7
Other financial assets 5,550 5,039 59
Investments accounted for using the equity method 1,044 1,034 12
Deferred tax assets 1,817 1,811 21
Non-current tax assets 9,043 7,861 92
Other non-current assets 10,331 7,424 87
Total non-current assets **** 501,797 **** 507,301 **** 5,930
Inventories 907 724 8
Financial assets
Derivative assets 1,333 859 10
Investments 311,171 436,108 5,098
Cash and cash equivalents 96,953 125,744 1,470
Trade receivables 115,477 114,616 1,340
Unbilled receivables 58,345 58,775 686
Other financial assets 10,536 9,107 106
Contract assets 19,854 14,205 166
Current tax assets 6,484 5,868 69
Other current assets 29,602 28,712 336
Total current assets **** 650,662 **** 794,718 **** 9,289
TOTAL ASSETS **** 1,152,459 **** 1,302,019 **** 15,219
EQUITY
Share capital 10,450 20,938 245
Share premium 3,291 1,921 22
Retained earnings 630,936 733,625 8,576
Share-based payment reserve 6,384 6,496 76
Special Economic Zone re-investment reserve 42,129 31,905 373
Other components of equity 56,693 58,964 689
Equity attributable to the equity holders of the Company **** 749,883 **** 853,849 **** 9,981
Non-controlling interests 1,340 1,963 23
TOTAL EQUITY **** 751,223 **** 855,812 **** 10,004
LIABILITIES
Financial liabilities
Loans and borrowings 62,300 64,034 748
Lease liabilities 13,962 18,783 220
Derivative liabilities 4 5 ^
Other financial liabilities 4,985 7,825 91
Deferred tax liabilities 17,467 16,813 197
Non-current tax liabilities 37,090 41,330 483
Other non-current liabilities 12,970 16,161 189
Provisions — 381 4
Total non-current liabilities **** 148,778 **** 165,332 **** 1,932
Financial liabilities
Loans, borrowings and bank overdrafts 79,166 102,638 1,200
Lease liabilities 9,221 8,104 95
Derivative liabilities 558 2,947 34
Trade payables and accrued expenses 88,566 81,200 949
Other financial liabilities 2,272 3,110 36
Contract liabilities 17,653 21,413 250
Current tax liabilities 21,756 30,301 354
Other current liabilities 31,295 29,664 347
Provisions 1,971 1,498 18
Total current liabilities **** 252,458 **** 280,875 **** 3,283
TOTAL LIABILITIES **** 401,236 **** 446,207 **** 5,215
TOTAL EQUITY AND LIABILITIES **** 1,152,459 **** 1,302,019 **** 15,219

8

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME

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

Three months ended December 31, Nine months ended December 31,
2023 2024 2024 2023 2024 2024
Convenience translation into<br>US dollar in millions<br>(unaudited) Refer to Note2(iii) Convenience translation intoUS dollar in millions(unaudited) Refer to Note2(iii)
Revenues 222,051 223,188 2,609 675,520 665,842 7,783
Cost of revenues (153,826 ) (153,922 ) (1,799 ) (474,278 ) (462,277 ) (5,404 )
Gross profit **** 68,225 **** 69,266 **** 810 **** 201,242 **** 203,565 **** 2,379
Selling and marketing expenses (19,178 ) (16,081 ) (188 ) (54,529 ) (49,313 ) (576 )
General and administrative expenses (16,444 ) (14,629 ) (171 ) (46,455 ) (41,876 ) (490 )
Foreign exchange gains/(losses), net 262 410 5 468 (192 ) (2 )
Results from operating activities **** 32,865 **** 38,966 **** 456 **** 100,726 **** 112,184 **** 1,311
Finance expenses (3,125 ) (4,146 ) (48 ) (9,244 ) (11,003 ) (129 )
Finance and other income 5,785 9,708 113 17,137 26,383 309
Share of net profit/ (loss) of associate and joint venture accounted for using the equity<br>method (4 ) 5 ^ (31 ) (37 ) ^
Profit before tax **** 35,521 **** 44,533 **** 521 **** 108,588 **** 127,527 **** 1,491
Income tax expense (8,515 ) (10,866 ) (127 ) (26,049 ) (31,228 ) (365 )
Profit for the period **** 27,006 **** 33,667 **** 394 **** 82,539 **** 96,299 **** 1,126
Profit attributable to:
Equity holders of the Company 26,942 33,538 392 82,106 95,658 1,118
Non-controlling interests 64 129 2 433 641 8
Profit for the period **** 27,006 **** 33,667 **** 394 **** 82,539 **** 96,299 **** 1,126
Earnings per equity share:
Attributable to equity holders of the Company
Basic 2.58 3.21 0.04 7.73 9.15 0.11
Diluted 2.58 3.20 0.04 7.71 9.13 0.11
Weighted average number of equity shares used in computing earnings per equityshare
Basic 10,436,941,772 10,457,414,881 10,457,414,881 10,621,971,206 10,454,728,795 10,454,728,795
Diluted 10,461,832,626 10,482,964,010 10,482,964,010 10,653,650,208 10,481,436,710 10,481,436,710
^ Value is less than 0.5
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9

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

Particulars Three months ended Nine months ended Year ended
December 31,2024 September 30,2024 December 31,2023 December 31,2024 December 31,2023 March 31,<br>2024
Audited Audited Audited Audited Audited Audited
Segment revenue
IT Services
Americas 1 72,010 68,393 68,581 208,103 201,001 268,230
Americas 2 68,120 67,932 66,541 203,390 201,758 269,482
Europe 59,282 61,821 61,473 181,525 192,583 253,927
APMEA 23,439 23,811 24,913 70,753 77,678 102,177
Total of IT Services **** 222,851 **** 221,957 **** 221,508 **** 663,771 **** 673,020 **** 893,816
IT Products 747 663 805 1,879 2,968 4,127
Total segment revenue **** 223,598 **** 222,620 **** 222,313 **** 665,650 **** 675,988 **** 897,943
Segment result
IT Services
Americas 1 14,966 13,338 16,459 41,991 45,283 59,364
Americas 2 15,275 15,005 15,180 45,813 43,372 59,163
Europe 7,600 7,821 7,906 21,294 25,421 33,354
APMEA 3,667 3,070 3,433 9,178 9,218 12,619
Unallocated (2,518 ) (1,912 ) (7,552 ) (5,907 ) (15,293 ) (20,304 )
Total of IT Services **** 38,990 **** 37,322 **** 35,426 **** 112,369 **** 108,001 **** 144,196
IT Products 29 (183 ) 114 (201 ) (514 ) (371 )
Reconciling Items (53 ) 10 (2,675 ) 16 (6,761 ) (7,726 )
Total segment result **** 38,966 **** 37,149 **** 32,865 **** 112,184 **** 100,726 **** 136,099
Finance expenses (4,146 ) (3,569 ) (3,125 ) (11,003 ) (9,244 ) (12,552 )
Finance and other income 9,708 9,195 5,785 26,383 17,137 23,896
Share of net profit/ (loss) of associate and joint venture accounted for using the equity<br>method 5 3 (4 ) (37 ) (31 ) (233 )
Profit before tax **** 44,533 **** 42,778 **** 35,521 **** 127,527 **** 108,588 **** 147,210

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 primarily organized by industry sector, while Europe and APMEA are organized by countries.

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

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

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

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

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 toIT Services Revenue as per IFRS ($Mn)
Three Months ended December 31, 2024
--- --- ---
IT Services Revenue as per IFRS $ 2,629.1
Effect of Foreign currency exchange movement $ 32.3
Non-GAAP Constant Currency IT Services Revenue based onprevious quarter exchange rates $ 2,661.4
Three Months ended December 31, 2024
IT Services Revenue as per IFRS $ 2,629.1
Effect of Foreign currency exchange movement $ 9.1
Non-GAAP Constant Currency IT Services Revenue based onexchange rates of comparable period in previous year $ 2,638.1
2. Reconciliation of Free Cash Flow for three months and nine months ended December 31,2024
--- ---
Amount in Mn
--- --- --- --- --- ---
Three months endedDecember 31, 2024 Nine months endedDecember 31, 2024
Net Income for the period [A] 96,299
Computation of Free Cash Flow
Net cash generated from operating activities [B] 131,961
Add/ (deduct) cash inflow/ (outflow)on:
Purchase of property, plant and equipment ) (7,862 )
Proceeds from sale of property, plant and equipment 1,516
Free Cash Flow [C] 125,615
Operating Cash Flow as percentage of Net Income [B/A] % 137.0 %
Free Cash Flow as percentage of Net Income [C/A] % 130.4 %

All values are in Indian Rupees.

—————————————

12

EX-99.2

Exhibit 99.2

LOGO

LOGO

EX-99.3

Exhibit 99.3

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS UNDER IFRS

AS AT AND FOR THE THREE AND NINE MONTHS ENDED DECEMBER 31, 2024

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(₹inmillions, except share and per share data, unless otherwise stated)

Notes As at March 31, 2024 As at December 31, 2024
Convenience translation intoUS dollar in millions(unaudited) Refer to Note 2(iii)
ASSETS
Goodwill 6 316,002 324,686 3,795
Intangible assets 6 32,748 29,101 340
Property, plant and equipment 4 81,608 77,760 909
Right-of-Use<br>assets 5 17,955 21,886 256
Financial assets
Derivative assets 18 25 — —
Investments 8 21,629 30,100 352
Trade receivables 4,045 599 7
Other financial assets 11 5,550 5,039 59
Investments accounted for using the equity method 1,044 1,034 12
Deferred tax assets 1,817 1,811 21
Non-current tax assets 9,043 7,861 92
Other non-current assets 12 10,331 7,424 87
Total non-current assets **** 501,797 **** 507,301 **** 5,930
Inventories 9 907 724 8
Financial assets
Derivative assets 18 1,333 859 10
Investments 8 311,171 436,108 5,098
Cash and cash equivalents 10 96,953 125,744 1,470
Trade receivables 115,477 114,616 1,340
Unbilled receivables 58,345 58,775 686
Other financial assets 11 10,536 9,107 106
Contract assets 19,854 14,205 166
Current tax assets 6,484 5,868 69
Other current assets 12 29,602 28,712 336
Total current assets **** 650,662 **** 794,718 **** 9,289
TOTAL ASSETS **** 1,152,459 **** 1,302,019 **** 15,219
EQUITY
Share capital 10,450 20,938 245
Share premium 3,291 1,921 22
Retained earnings 630,936 733,625 8,576
Share-based payment reserve 6,384 6,496 76
Special Economic Zone re-investment reserve 42,129 31,905 373
Other components of equity 56,693 58,964 689
Equity attributable to the equity holders of the Company **** 749,883 **** 853,849 **** 9,981
Non-controlling interests 1,340 1,963 23
TOTAL EQUITY **** 751,223 **** 855,812 **** 10,004
LIABILITIES
Financial liabilities
Loans and borrowings 13 62,300 64,034 748
Lease liabilities 13,962 18,783 220
Derivative liabilities 18 4 5 ^
Other financial liabilities 15 4,985 7,825 91
Deferred tax liabilities 17,467 16,813 197
Non-current tax liabilities 37,090 41,330 483
Other non-current liabilities 16 12,970 16,161 189
Provisions 17 — 381 4
Total non-current liabilities **** 148,778 **** 165,332 **** 1,932
Financial liabilities
Loans, borrowings and bank overdrafts 13 79,166 102,638 1,200
Lease liabilities 9,221 8,104 95
Derivative liabilities 18 558 2,947 34
Trade payables and accrued expenses 14 88,566 81,200 949
Other financial liabilities 15 2,272 3,110 36
Contract liabilities 17,653 21,413 250
Current tax liabilities 21,756 30,301 354
Other current liabilities 16 31,295 29,664 347
Provisions 17 1,971 1,498 18
Total current liabilities **** 252,458 **** 280,875 **** 3,283
TOTAL LIABILITIES **** 401,236 **** 446,207 **** 5,215
TOTAL EQUITY AND LIABILITIES **** 1,152,459 **** 1,302,019 **** 15,219
^ 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<br><br><br>Chartered Accountants Rishad A. Premji Chairman Deepak M. Satwalekar<br><br><br>Director Srinivas Pallia<br> <br>Chief Executive Officer<br>and
Firm’s Registration No: 117366W/W - 100018 Managing Director
Anand Subramanian Aparna C. Iyer M. Sanaulla Khan
Partner Chief Financial Officer Company Secretary
Membership No.: 110815
Bengaluru
January 17, 2025

1

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME

(₹inmillions, except share and per share data, unless otherwise stated)

Three months ended December 31, Nine months ended December 31,
Notes 2023 2024 2024 2023 2024 2024
Conveniencetranslation into<br>US dollar inmillions(unaudited)<br>Refer to Note2(iii) Conveniencetranslation into<br>US dollar inmillions(unaudited)<br>Refer to Note2(iii)
Revenues 21 222,051 223,188 2,609 675,520 665,842 7,783
Cost of revenues 22 (153,826 ) (153,922 ) (1,799 ) (474,278 ) (462,277 ) (5,404 )
Gross profit **** 68,225 **** 69,266 **** 810 **** 201,242 **** 203,565 **** 2,379
Selling and marketing expenses 22 (19,178 ) (16,081 ) (188 ) (54,529 ) (49,313 ) (576 )
General and administrative expenses 22 (16,444 ) (14,629 ) (171 ) (46,455 ) (41,876 ) (490 )
Foreign exchange gains/(losses), net 24 262 410 5 468 (192 ) (2 )
Results from operating activities **** 32,865 **** 38,966 **** 456 **** 100,726 **** 112,184 **** 1,311
Finance expenses 23 (3,125 ) (4,146 ) (48 ) (9,244 ) (11,003 ) (129 )
Finance and other income 24 5,785 9,708 113 17,137 26,383 309
Share of net profit/ (loss) of associate and joint venture accounted for using the equity<br>method (4 ) 5 ^ (31 ) (37 ) ^
Profit before tax **** 35,521 **** 44,533 **** 521 **** 108,588 **** 127,527 **** 1,491
Income tax expense 20 (8,515 ) (10,866 ) (127 ) (26,049 ) (31,228 ) (365 )
Profit for the period **** 27,006 **** 33,667 **** 394 **** 82,539 **** 96,299 **** 1,126
Profit attributable to:
Equity holders of the Company 26,942 33,538 392 82,106 95,658 1,118
Non-controlling interests 64 129 2 433 641 8
Profit for the period **** 27,006 **** 33,667 **** 394 **** 82,539 **** 96,299 **** 1,126
Earnings per equity share: 25
Attributable to equity holders of the Company
Basic 2.58 3.21 0.04 7.73 9.15 0.11
Diluted 2.58 3.20 0.04 7.71 9.13 0.11
Weighted average number of equity shares used in computing earnings per equityshare
Basic 10,436,941,772 10,457,414,881 10,457,414,881 10,621,971,206 10,454,728,795 10,454,728,795
Diluted 10,461,832,626 10,482,964,010 10,482,964,010 10,653,650,208 10,481,436,710 10,481,436,710
^ 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<br><br><br>Chartered Accountants Rishad A. Premji Chairman Deepak M. Satwalekar<br><br><br>Director Srinivas Pallia<br> <br>Chief<br>Executive **** Officer and
Firm’s Registration No: 117366W/W - 100018 Managing Director
Anand Subramanian Aparna C. Iyer M. Sanaulla Khan
Partner Chief Financial Officer Company Secretary
Membership No.: 110815
Bengaluru
January 17, 2025

2

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(₹inmillions, except share and per share data, unless otherwise stated)

Three months ended December 31, Nine months ended December 31,
2023 2024 2024 2023 2024 2024
Conveniencetranslation intoUS dollar inmillions(unaudited) Referto Note 2(iii) Conveniencetranslation intoUS dollar inmillions(unaudited) Referto Note 2(iii)
Profit for the period **** 27,006 **** 33,667 **** 394 **** 82,539 **** 96,299 **** 1,126
Other comprehensive income (OCI)
Items that will not be reclassified to profit or loss in subsequent periods
Remeasurements of the defined benefit plans, net 253 (231 ) (3 ) 259 150 2
Net change in fair value of investment in equity instruments measured at fair value through<br>OCI 141 (367 ) (4 ) 33 (533 ) (7 )
**** 394 **** (598 ) **** (7 ) **** 292 **** (383 ) **** (5 )
Items that will be reclassified to profit or loss in subsequent periods
Foreign currency translation differences 3,601 1,853 22 5,063 5,569 65
Reclassification of foreign currency translation differences on liquidation of subsidiaries to<br>statement of income (15 ) 1 ^ (196 ) 14 ^
Net change in time value of option contracts designated as cash flow hedges, net of taxes (324 ) 269 3 (73 ) (95 ) (1 )
Net change in intrinsic value of option contracts designated as cash flow hedges, net of<br>taxes (88 ) (171 ) (2 ) 113 (189 ) (2 )
Net change in fair value of forward contracts designated as cash flow hedges, net of<br>taxes (286 ) (1,100 ) (13 ) 1,300 (1,555 ) (18 )
Net change in fair value of investment in debt instruments measured at fair value through OCI, net<br>of taxes (81 ) 37 ^ 1,255 611 7
**** 2,807 **** 889 **** 10 **** 7,462 **** 4,355 **** 51
Total other comprehensive income, net of taxes 3,201 291 3 7,754 3,972 46
Total comprehensive income for the period **** 30,207 **** 33,958 **** 397 **** 90,293 **** 100,271 **** 1,172
Total comprehensive income attributable to:
Equity holders of the Company 30,154 33,783 395 89,963 99,590 1,164
Non-controlling interests 53 175 2 330 681 8
**** 30,207 **** 33,958 **** 397 **** 90,293 **** 100,271 **** 1,172
^ 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<br><br><br>Chartered Accountants Rishad A. Premji<br><br><br>Chairman Deepak M. Satwalekar<br><br><br>Director Srinivas Pallia<br> <br>Chief Executive Officer<br>and
Firm’s Registration No: 117366W/W - 100018 Managing Director
Anand Subramanian Aparna C. Iyer M. Sanaulla Khan
Partner Chief Financial Officer Company Secretary
Membership No.: 110815
Bengaluru
January 17, 2025

3

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(₹inmillions, except share and per share data, unless otherwise stated)

Other components of equity Equityattributable tothe equityholders of theCompany Non-controllinginterests Total equity
Particulars Number ofshares^(1)^ Sharecapital,fullypaid-up Sharepremium Retainedearnings Share-basedpaymentreserve SpecialEconomicZonere-investmentreserve Foreigncurrencytranslationreserve^(2)^ Cash flowhedgingreserve^(3)^ Otherreserves^(2)^
As at April 1, 2023 **** 5,487,917,741 **** 10,976 **** 3,689 **** 660,964 **** 5,632 **** 46,803 **** 43,255 **** (1,403 ) **** 11,248 **** 781,164 **** 589 **** 781,753
Comprehensive income for the period
Profit for the period — — — 82,106 — — — — — 82,106 433 82,539
Other comprehensive income — — — — — — 4,857 1,340 1,660 7,857 (103 ) 7,754
Total comprehensive income for the period **** — **** **** — **** **** — **** **** 82,106 **** — **** **** — **** **** 4,857 **** 1,340 **** 1,660 **** 89,963 **** 330 **** 90,293
Issue of equity shares on exercise of options 5,980,812 11 2,916 — (2,916 ) — — — — **** 11 — **** 11
Issue of shares by controlled trust on exercise of options^(1)^ — — — 1,204 (1,204 ) — — — — **** — **** — **** — ****
Compensation cost related to employee share-based payment — — — 6 4,292 — — — — **** 4,298 — **** 4,298
Transferred from Special Economic Zone re-investment<br>reserve — — — 4,077 — (4,077 ) — — — **** — **** — **** — ****
Buyback of equity shares, including tax<br>thereon^(4)^ (269,662,921 ) (539 ) (3,768 ) (141,015 ) — — — — 539 **** (144,783 ) — **** (144,783 )
Transaction cost related to buyback of equity shares^(4)^ — — — (390 ) — — — — — **** (390 ) — **** (390 )
Dividend — — — — — — — — — **** — **** (322 ) **** (322 )
Others — — — — — — — — — — 101 101
Other transactions for the period **** (263,682,109 ) **** (528 ) **** (852 ) **** (136,118 ) **** 172 **** (4,077 ) **** — **** — **** **** 539 **** (140,864 ) **** (221 ) **** (141,085 )
As at December 31, 2023 **** 5,224,235,632 **** 10,448 **** 2,837 **** 606,952 **** 5,804 **** 42,726 **** 48,112 **** (63 ) **** 13,447 **** 730,263 **** 698 **** 730,961
^(1)^ Includes 6,580,333 treasury shares held as at December 31, 2023 by a controlled trust. 3,315,503 shares<br>have been transferred by the controlled trust to eligible employees on exercise of options during the nine months ended December 31, 2023.
--- ---
^(2)^ Refer to Note 19
--- ---
^(3)^ Refer to Note 18
--- ---
^(4)^ Refer to Note 30
--- ---

4

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(₹inmillions, except share and per share data, unless otherwise stated)

Other components of equity Equityattributable tothe equityholders of theCompany Non-controllinginterests Total equity
Particulars Number ofshares^(1)^ Share capital,fully paid-up Sharepremium Retainedearnings Share-basedpaymentreserve SpecialEconomicZonere-investmentreserve Foreigncurrencytranslationreserve^(2)^ Cash flowhedgingreserve^(3)^ Otherreserves^(2)^
As at April 1, 2024 **** 5,225,138,246 **** 10,450 **** 3,291 **** 630,936 **** 6,384 **** 42,129 **** 47,261 **** 578 **** 8,854 **** 749,883 **** 1,340 **** 751,223
Comprehensive income for the period
Profit for the period — — — 95,658 — — — — — 95,658 641 96,299
Other comprehensive income — — — — — — 5,534 (1,839 ) 237 3,932 40 3,972
Total comprehensive income for the period **** — **** — **** — **** **** 95,658 **** — **** **** — **** **** 5,534 **** (1,839 ) **** 237 **** 99,590 **** 681 **** 100,271
Issue of equity shares on exercise of options 10,727,228 21 4,243 — (4,243 ) — — — — **** 21 — **** 21
Bonus issue of equity<br>shares^(4)^ 5,233,369,207 10,467 (5,613 ) (3,193 ) — — — — (1,661 ) **** — — **** — ****
Compensation cost related to employee share-based payment — — — — 4,355 — — — — **** 4,355 — **** 4,355
Transferred from Special Economic Zone re-investment<br>reserve — — — 10,224 — (10,224 ) — — — **** — — **** — ****
Others — — — — — — — — — **** — (58 ) **** (58 )
Other transactions for the period **** 5,244,096,435 **** 10,488 **** (1,370 ) **** 7,031 **** 112 **** (10,224 ) **** — **** — **** **** (1,661 ) **** 4,376 **** (58 ) **** 4,318
As at December 31, 2024 **** 10,469,234,681 **** 20,938 **** 1,921 **** 733,625 **** 6,496 **** 31,905 **** 52,795 **** (1,261 ) **** 7,430 **** 853,849 **** 1,963 **** 855,812
Convenience translation into US dollar in millions (unaudited) Refer to Note2(iii) **** 245 **** 22 **** 8,576 **** 76 **** 373 **** 617 **** (15 ) **** 87 **** 9,981 **** 23 **** 10,004
^(1)^ Includes 11,905,480 treasury shares held as at December 31, 2024 by a controlled trust.<br>
--- ---
^(2)^ Refer to Note 19
--- ---
^(3)^ Refer to Note 18
--- ---
^(4)^ Refer to Note 31
--- ---

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<br>Firm’s Registration No: 117366W/W - 100018 Chairman Director Chief Executive Officer and Managing Director
Anand Subramanian Aparna C. Iyer M. Sanaulla Khan
Partner Chief Financial Officer Company Secretary
Membership No.: 110815
Bengaluru
January 17, 2025

5

WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(₹inmillions, except share and per share data, unless otherwise stated)

Nine months ended December 31,
2023 2024 2024
Convenience translationinto US dollar in millions(unaudited) Refer toNote 2(iii)
Cash flows from operating activities
Profit for the period 82,539 96,299 1,126
Adjustments to reconcile profit for the period to net cash generated from operatingactivities:
Gain on sale of property, plant and equipment, net (2,174 ) (766 ) (9 )
Depreciation, amortization and impairment expense 25,666 22,362 261
Unrealized exchange (gain)/loss, net 458 421 5
Share-based compensation expense 4,292 4,355 51
Share of net (profit)/loss of associate and joint venture accounted for using equity<br>method 31 37 ^
Income tax expense 26,049 31,228 365
Finance and other income, net of finance expenses (7,893 ) (15,380 ) (180 )
Change in fair value of contingent consideration (508 ) (167 ) (2 )
Lifetime expected credit loss/(write-back) 273 (41 ) ^
Other non-cash items 488 — —
Changes in operating assets and liabilities, net of effects from acquisitions
(Increase)/Decrease in trade receivables 2,619 4,722 55
(Increase)/Decrease in unbilled receivables and contract assets 7,409 5,519 65
(Increase)/Decrease in Inventories 130 183 2
(Increase)/Decrease in other assets 12,634 5,013 59
Increase/(Decrease) in trade payables, accrued expenses, other liabilities and provisions (9,820 ) (7,429 ) (87 )
Increase/(Decrease) in contract liabilities (3,850 ) 3,765 44
Cash generated from operating activities before taxes **** 138,343 **** 150,121 **** 1,755
Income taxes paid, net (14,306 ) (18,160 ) (212 )
Net cash generated from operating activities **** 124,037 **** 131,961 **** 1,543
Cash flows from investing activities:
Payment for purchase of property, plant and equipment (6,262 ) (7,862 ) (92 )
Proceeds from disposal of property, plant and equipment 3,903 1,516 18
Payment for purchase of investments (725,864 ) (596,107 ) (6,968 )
Proceeds from sale of investments 744,556 472,190 5,519
Payment for business acquisitions, net of cash acquired — (891 ) (10 )
Repayment of security deposit for property, plant and equipment — (300 ) (4 )
Interest received 15,786 19,810 232
Dividend received 2 1 ^
Net cash generated from/(used in) investing activities **** 32,121 **** (111,643 ) **** (1,305 )
Cash flows from financing activities:
Proceeds from issuance of equity shares and shares pending allotment 11 21 ^
Repayment of loans and borrowings (74,500 ) (112,419 ) (1,314 )
Proceeds from loans and borrowings 78,750 135,088 1,579
Payment of lease liabilities (7,393 ) (7,543 ) (88 )
Payment for contingent consideration (1,293 ) — —
Interest and finance expenses paid (7,641 ) (6,713 ) (78 )
Payment of dividend to Non-controlling interest<br>holders (322 ) — —
Payment for buyback of equity shares, including tax and transaction cost (145,173 ) — —
Net cash generated from/(used in) financing activities **** (157,561 ) **** 8,434 **** 99
Net increase/(decrease) in cash and cash equivalents during the period (1,403 ) 28,752 336
Effect of exchange rate changes on cash and cash equivalents 634 26 ^
Cash and cash equivalents at the beginning of the period 91,861 96,951 1,133
Cash and cash equivalents at the end of the period (Note 10) **** 91,092 **** 125,729 **** 1,469
^ 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<br>Firm’s Registration No: 117366W/W - 100018 Chairman Director Chief Executive Officer and Managing Director
Anand Subramanian Aparna C. Iyer M. Sanaulla Khan
Partner Chief Financial Officer Company Secretary
Membership No.: 110815
Bengaluru
January 17, 2025

6

WIPRO LIMITED AND SUBSIDIARIES

NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(₹inmillions, except share and per share data, unless otherwise stated)

1. The Company overview

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

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

The Company’s Board of Directors authorized these interim condensed consolidated financial statements for issue on January 17, 2025.

2. Basis of preparation of interim condensed consolidated financial statements

(i) Statement of compliance and basis of preparation

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

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

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

(ii) Basis of measurement

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

a. Derivative financial instruments;
b. Financial instruments classified as fair value through other comprehensive income or fair value through profit<br>or loss;
--- ---
c. The defined benefit liability/(asset) is recognized as the present value of defined benefit obligation less<br>fair value of plan assets; and
--- ---
d. Contingent consideration and liability on written put options.
--- ---

(iii) Convenience translation (unaudited)

The accompanying interim condensed consolidated financial statements have been prepared and reported in Indian rupees, the functional currency of the Parent Company. Solely for the convenience of the readers, the interim condensed consolidated financial statements as at and for the three and nine months ended December 31, 2024, have been translated into United States dollars at the certified foreign exchange rate of US$1 = ₹ 85.55 as published by Federal Reserve Board of Governors on December 31, 2024. No representation is made that the Indian rupee amounts have been, could have been or could be converted into United States dollars at such a rate or any other rate. Due to rounding off, the translated numbers presented throughout the document may not add up precisely to the totals.

(iv) Use of estimates and judgment

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

7

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

a) Revenue recognition: The Company applies judgement to determine whether each product or service promised<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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<br>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,<br>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<br>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<br>are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology. The estimated useful life is reviewed at least annually.
--- ---
h) Useful lives of intangible assets: The Company amortizes intangible assets on a straight-line basis over<br>estimated useful lives of the assets. The useful life is estimated based on a number of factors including the effects of obsolescence, demand, competition and other economic factors such as the stability of the industry and known technological<br>advances and the level of maintenance expenditures required to obtain the expected future cash flows from the assets. The estimated useful life is reviewed at least annually.
--- ---

8

i) Provisions and contingent liabilities: The Company estimates the provisions<br>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<br>best estimates.

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

3. Material accounting policy information

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

i. New amendments not yet adopted:

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

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

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

IFRS 18 – Presentation and Disclosure in Financial Statements

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

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

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

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

IFRS 19 – Subsidiaries without Public Accountability: Disclosures

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

9

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

On May 30, 2024, IASB issued ‘Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)’ to address matters identified during the post-implementation review of IFRS 9. The amendments 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 Company is currently assessing the impact of adopting these amendments 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 Company is currently assessing the impact of adopting these amendments on the interim condensed consolidated financial statements.

4. Property, plant and equipment

Land Buildings Plant andequipment^(1)^ Furniture andfixtures Office<br>equipment Vehicles Total
Gross carrying value:
As at April 1, 2023 ₹ 4,860 ₹ 47,700 ₹ 117,732 ₹ 18,086 ₹ 7,818 ₹ 161 ₹ 196,357
Additions — 413 3,236 1,488 200 2 5,339
Disposals (486 ) (947 ) (6,217 ) (1,025 ) (240 ) (124 ) (9,039 )
Translation adjustment 5 88 540 40 16 1 690
As at December 31, 2023 ₹ 4,379 ₹ 47,254 ₹ 115,291 ₹ 18,589 ₹ 7,794 ₹ 40 ₹ 193,347
Accumulated depreciation/ impairment: ****
As at April 1, 2023 ₹ — ₹ 10,927 ₹ 85,501 ₹ 11,520 ₹ 5,928 ₹ 145 ₹ 114,021
Depreciation and impairment — 1,111 8,809 1,618 481 5 12,024
Disposals — (484 ) (5,565 ) (948 ) (233 ) (123 ) (7,353 )
Translation adjustment — 45 454 31 14 1 545
As at December 31, 2023 ₹ — **** ₹ 11,599 ₹ 89,199 ₹ 12,221 ₹ 6,190 ₹ 28 ₹ 119,237
Net carrying value as at December 31, 2023 ₹ 4,379 ₹ 35,655 ₹ 26,092 ₹ 6,368 ₹ 1,604 ₹ 12 ₹ 74,110
Capital<br>work-in-progress ₹ 7,296
Net carrying value including Capital work-in-progress as at December 31, 2023 ₹ 81,406
Gross carrying value:
As at April 1, 2023 ₹ 4,860 ₹ 47,700 ₹ 117,732 ₹ 18,086 ₹ 7,818 ₹ 161 ₹ 196,357
Additions — 428 6,975 1,716 354 3 9,476
Additions through Business combinations — — 373 — 1 — 374
Disposals (486 ) (1,174 ) (22,815 ) (1,586 ) (663 ) (131 ) (26,855 )
Translation adjustment 1 70 248 17 4 1 341
As at March 31, 2024 ₹ 4,375 ₹ 47,024 ₹ 102,513 ₹ 18,233 ₹ 7,514 ₹ 34 ₹ 179,693
Accumulated depreciation/ impairment: ****
As at April 1, 2023 ₹ — ₹ 10,927 ₹ 85,501 ₹ 11,520 ₹ 5,928 ₹ 145 ₹ 114,021
Depreciation and impairment — 1,490 11,856 2,193 638 7 16,184
Disposals — (683 ) (22,019 ) (1,444 ) (639 ) (130 ) (24,915 )
Translation adjustment — 41 211 18 5 ^ 275
As at March 31, 2024 ₹ — **** ₹ 11,775 ₹ 75,549 ₹ 12,287 ₹ 5,932 ₹ 22 ₹ 105,565
Net carrying value as at March 31, 2024 ₹ 4,375 ₹ 35,249 ₹ 26,964 ₹ 5,946 ₹ 1,582 ₹ 12 ₹ 74,128
Capital<br>work-in-progress ₹ 7,480
Net carrying value including Capital work-in-progress as at March 31, 2024 ₹ 81,608
Gross carrying value:
As at April 1, 2024 ₹ 4,375 ₹ 47,024 ₹ 102,513 ₹ 18,233 ₹ 7,514 ₹ 34 ₹ 179,693
Additions 4 2,342 4,493 728 580 6 8,153

10

Additions through Business combination (Refer to Note 7) — — 9 — — — 9
Disposals — (464 ) (6,100 ) (735 ) (236 ) (1 ) (7,536 )
Translation adjustment (2 ) (48 ) (207 ) (25 ) (15 ) (1 ) (298 )
As at December 31, 2024 ₹ 4,377 ₹ 48,854 ₹ 100,708 ₹ 18,201 ₹ 7,843 ₹ 38 ₹ 180,021
Accumulated depreciation/ impairment: ****
As at April 1, 2024 ₹ — ₹ 11,775 ₹ 75,549 ₹ 12,287 ₹ 5,932 ₹ 22 ₹ 105,565
Depreciation and impairment — 1,211 8,325 1,616 455 3 11,610
Disposals — (217 ) (5,877 ) (603 ) (210 ) (1 ) (6,908 )
Translation adjustment — (50 ) (188 ) (17 ) (15 ) (1 ) (271 )
As at December 31, 2024 ₹ — **** ₹ 12,719 ₹ 77,809 ₹ 13,283 ₹ 6,162 ₹ 23 ₹ 109,996
Net carrying value as at December 31, 2024 ₹ 4,377 ₹ 36,135 ₹ 22,899 ₹ 4,918 ₹ 1,681 ₹ 15 ₹ 70,025
Capital<br>work-in-progress ₹ 7,735
Net carrying value including Capital work-in-progress as at December 31, 2024 ₹ 77,760
^ Value is less than 0.5
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^(1)^ Including net carrying value of computer equipment and software amounting to ₹ 16,672, ₹ 17,553 and<br>₹ 13,587, as at December 31, 2023, March 31, 2024 and December 31, 2024, respectively.
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5. Right-of-Use assets

Category of Right-of-Use asset
Land Buildings Plant andequipment^(1)^ Vehicles Total
Gross carrying value:
As at April 1, 2023 ₹ 1,278 ₹ 27,946 ₹ 2,580 ₹ 865 ₹ 32,669
Additions — 4,033 263 156 4,452
Disposals — (3,532 ) (634 ) (185 ) (4,351 )
Translation adjustment — 332 51 24 407
As at December 31, 2023 ₹ 1,278 ₹ 28,779 ₹ 2,260 ₹ 860 ₹ 33,177
Accumulated depreciation:
As at April 1, 2023 ₹ 77 ₹ 12,127 ₹ 1,192 ₹ 571 ₹ 13,967
Depreciation 14 3,971 333 137 4,455
Disposals — (2,191 ) (559 ) (164 ) (2,914 )
Translation adjustment — 157 24 15 196
As at December 31, 2023 ₹ 91 ₹ 14,064 ₹ 990 ₹ 559 ₹ 15,704
Net carrying value as at December 31, 2023 ₹ 1,187 ₹ 14,715 ₹ 1,270 ₹ 301 ₹ 17,473
Gross carrying value:
As at April 1, 2023 ₹ 1,278 ₹ 27,946 ₹ 2,580 ₹ 865 ₹ 32,669
Additions 65 6,505 264 251 7,085
Additions through Business combination — 33 — — 33
Disposals — (6,203 ) (636 ) (271 ) (7,110 )
Translation adjustment — 172 34 4 210
As at March 31, 2024 ₹ 1,343 ₹ 28,453 ₹ 2,242 ₹ 849 ₹ 32,887
Accumulated depreciation:
As at April 1, 2023 ₹ 77 ₹ 12,127 ₹ 1,192 ₹ 571 ₹ 13,967
Depreciation 21 5,485 444 181 6,131
Disposals — (4,439 ) (561 ) (244 ) (5,244 )
Translation adjustment — 64 11 3 78
As at March 31, 2024 ₹ 98 ₹ 13,237 ₹ 1,086 ₹ 511 ₹ 14,932
Net carrying value as at March 31, 2024 ₹ 1,245 ₹ 15,216 ₹ 1,156 ₹ 338 ₹ 17,955
Gross carrying value:
As at April 1, 2024 ₹ 1,343 ₹ 28,453 ₹ 2,242 ₹ 849 ₹ 32,887
Additions — 8,954 33 165 9,152
Disposals (221 ) (3,687 ) (2 ) (153 ) (4,063 )
Translation adjustment — (53 ) 31 (9 ) (31 )
As at December 31, 2024 ₹ 1,122 ₹ 33,667 ₹ 2,304 ₹ 852 ₹ 37,945
Accumulated depreciation:
As at April 1, 2024 ₹ 98 ₹ 13,237 ₹ 1,086 ₹ 511 ₹ 14,932
Depreciation 16 3,987 338 133 4,474
Disposals (14 ) (3,140 ) (2 ) (148 ) (3,304 )
Translation adjustment — (46 ) 8 (5 ) (43 )
As at December 31, 2024 ₹ 100 ₹ 14,038 ₹ 1,430 ₹ 491 ₹ 16,059
Net carrying value as at December 31, 2024 ₹ 1,022 ₹ 19,629 ₹ 874 ₹ 361 ₹ 21,886
^(1)^ Including net carrying value of computer equipment amounting to ₹ 3, ₹ 2 and ₹ 1 as at<br>December 31, 2023, March 31, 2024 and December 31, 2024, respectively.
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11

6. Goodwill and intangible assets

The movement in goodwill balance is given below:

As at
March 31, 2024 December 31, 2024
Balance at the beginning of the period ₹ 307,970 ₹ 316,002
Translation adjustment 4,206 7,390
Acquisition through Business<br>combinations^(1)^ 4,314 1,294
Disposals (488 ) —
Balance at the end of the period ₹ 316,002 ₹ 324,686
^(1)^ Acquisition through business combination for the year ended March 31, 2024 is after considering the impact<br>of ₹ (503) towards measurement period changes in purchase price allocation of acquisitions made during the year ended March 31, 2023.
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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, 2023 ₹ 49,813 ₹ 11,924 ₹ 61,737
Deductions/adjustments (6,748 ) (207 ) (6,955 )
Translation adjustment 595 156 751
As at December 31, 2023 ₹ 43,660 ₹ 11,873 ₹ 55,533
Accumulated amortization/ impairment:
As at April 1, 2023 ₹ 15,417 ₹ 3,275 ₹ 18,692
Amortization and impairment^(1)(2)^ 7,888 1,299 9,187
Deductions/adjustments (6,748 ) (207 ) (6,955 )
Translation adjustment 212 56 268
As at December 31, 2023 ₹ 16,769 ₹ 4,423 ₹ 21,192
Net carrying value as at December 31, 2023 ₹ 26,891 ₹ 7,450 ₹ 34,341
Gross carrying value:
As at April 1, 2023 ₹ 49,813 ₹ 11,924 ₹ 61,737
Acquisition through Business combination 556 390 946
Deductions/adjustments (7,306 ) (505 ) (7,811 )
Translation adjustment 609 163 772
As at March 31, 2024 ₹ 43,672 ₹ 11,972 ₹ 55,644
Accumulated amortization/ impairment:
As at April 1, 2023 ₹ 15,417 ₹ 3,275 ₹ 18,692
Amortization and impairment^(1)(2)^ 9,961 1,795 11,756
Deductions/adjustments (7,306 ) (505 ) (7,811 )
Translation adjustment 209 50 259
As at March 31, 2024 ₹ 18,281 ₹ 4,615 ₹ 22,896
Net carrying value as at March 31, 2024 ₹ 25,391 ₹ 7,357 ₹ 32,748
Gross carrying value:
As at April 1, 2024 ₹ 43,672 ₹ 11,972 ₹ 55,644
Acquisition through Business combination (Refer to Note 7) 1,896 — 1,896
Deductions/adjustments (4,091 ) (2,503 ) (6,594 )
Translation adjustment 1,052 270 1,322
As at December 31, 2024 ₹ 42,529 ₹ 9,739 ₹ 52,268

12

Accumulated amortization/ impairment:
As at April 1, 2024 ₹ 18,281 ₹ 4,615 ₹ 22,896
Amortization and impairment^(1)^ 4,959 1,319 6,278
Deductions/adjustments (4,091 ) (2,503 ) (6,594 )
Translation adjustment 484 103 587
As at December 31, 2024 ₹ 19,633 ₹ 3,534 ₹ 23,167
Net carrying value as at December 31, 2024 ₹ 22,896 ₹ 6,205 ₹ 29,101
^(1)^ During the nine months ended December 31, 2023 and 2024, and year ended March 31, 2024, decline in<br>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<br>charge of ₹ 456 and ₹ Nil for the three months ended December 31, 2023<br>and 2024, respectively and ₹ 893 and ₹ 1,149 for the nine months ended<br>December 31, 2023 and 2024 respectively, and ₹ 1,701 for the year ended March 31, 2024, as part of amortization and impairment.
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^(2)^ Due to change in our estimate of useful life of customer-related intangibles in an earlier business<br>combination, the Company has recognized additional amortization charge of ₹ 1,589 and<br>₹ 2,800 for the three and nine months ended December 31, 2023 respectively and<br>₹ 2,807 for the year ended March 31, 2024, as part of amortization and impairment.
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Amortization expense on intangible assets is included in selling and marketing expenses in the interim condensed consolidated statement of income.

7. Business combinations

During the nine months ended December 31, 2024, the Company has completed a business combination by acquiring 100% equity interest in Applied Value Technologies, Inc. and Applied Value Technologies B.V. (“AVT”). AVT helps enterprises transform IT operations through a highly customized and data-driven approach. AVT will augment Wipro’s existing application services capabilities, helping drive new growth opportunities. The acquisition was consummated on December 16, 2024, for total consideration (upfront cash to acquire control, deferred consideration and contingent consideration) of ₹ 2,805.

Description AVT
Net assets ₹ 181
Fair value of customer-related intangibles 1,896
Deferred tax liabilities on intangible assets (566 )
Total identifiable assets ₹ 1,511
Goodwill 1,294
Total purchase price ₹ 2,805
Net Assets include:
Cash and cash equivalents ₹ 113
Fair value of acquired trade receivables included in net assets 215
Gross contractual amount of acquired trade receivables 215
Less: Allowance for lifetime expected credit loss —
Transaction costs included in general and administrative expenses ₹ 45

The above purchase price allocation for AVT 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 ₹ 1,294 comprises value of acquired workforce and expected synergies arising from the business combinations. Goodwill is allocated to IT Services segment and is not deductible for income tax purposes.

The total consideration of AVT includes a contingent consideration linked to achievement of revenues and earnings over a period of 3 years ending December 31, 2027, and range of contingent consideration payable is between ₹ Nil and ₹ 2,122. 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 ₹ 1,773 as at the date of acquisition. The discounted fair value of contingent consideration of ₹ 1,537 is recorded as part of provisional purchase price allocation.

The pro-forma effects of acquisition of AVT for the three and nine months ended December 31, 2024, on the Company’s results were not material.

8. Investments

As at
March 31, 2024 December 31, 2024
Non-current
Financial instruments at FVTPL
Equity instruments^(1)^ ₹ 4,404 ₹ 5,075
Fixed maturity plan mutual funds 1,395 1,180
Financial instruments at FVTOCI
Equity instruments^(1)^ 15,830 16,174
Financial instruments at amortized cost
Inter corporate and term deposits ^ 7,671
₹ 21,629 ₹ 30,100

13

Current
Financial instruments at FVTPL
Short-term mutual funds^(2)^ ₹ 71,686 ₹ 126,516
Fixed maturity plan mutual funds — 295
Financial instruments at FVTOCI
Non-convertible debentures 154,407 214,685
Government securities 7,030 10,654
Commercial papers 11,845 3,953
Bonds 28,195 18,940
Financial instruments at amortized cost
Inter corporate and term<br>deposits^(3)^ 38,008 61,065
₹ 311,171 ₹ 436,108
₹ 332,800 ₹ 466,208
Financial instruments at FVTPL ₹ 77,485 ₹ 133,066
Financial instruments at FVTOCI 217,307 264,406
Financial instruments at amortized cost 38,008 68,736
^ Value is less than 0.5
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^(1)^ Uncalled capital commitments outstanding as at March 31, 2024 and December 31, 2024, was ₹ 1,450 and ₹ 1,795, respectively.
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^(2)^ As at March 31, 2024 and December 31, 2024, short-term mutual funds include units lien with bank on<br>account of margin money for currency derivatives amounting to ₹ 218 and<br>₹ 229, respectively.
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^(3)^ These deposits earn a fixed rate of interest. As at March 31, 2024 and December 31, 2024, term<br>deposits include current deposits in lien with banks, held as margin money deposits against guarantees amounting to ₹ 117 and ₹ 165, respectively.
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9. Inventories

As at
March 31, 2024 December 31, 2024
Stores and spare parts ₹ 27 ₹ 8
Traded goods 880 716
₹ 907 ₹ 724

10. Cash and cash equivalents

As at
March 31, 2024 December 31, 2024
Cash and bank balances ₹ 60,648 ₹ 69,416
Demand deposits with banks^(1)^ 36,305 56,328
₹ 96,953 ₹ 125,744
^(1)^ These deposits can be withdrawn by the Company at any time without prior notice and without any penalty on the<br>principal.
--- ---

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

As at
December 31, 2023 December 31, 2024
Cash and cash equivalents ₹ 91,113 ₹ 125,744
Bank overdrafts (21 ) (15 )
₹ 91,092 ₹ 125,729

11. Other financial assets

As at
March 31, 2024 December 31, 2024
Non-current
Security deposits ₹ 1,221 ₹ 1,377
Finance lease receivables 4,270 3,365
Dues from officers and employees 59 27
Others — 270
₹ 5,550 ₹ 5,039
Current
Security deposits ₹ 2,035 ₹ 1,855
Dues from officers and employees 596 396
Interest receivables 230 1,183
Finance lease receivables 5,307 5,259
Others 2,368 414
₹ 10,536 ₹ 9,107
₹ 16,086 ₹ 14,146

14

12. Other assets

As at
March 31, 2024 December 31, 2024
Non-current
Prepaid expenses ₹ 3,424 ₹ 2,311
Costs to obtain contract^(1)^ 2,324 3,669
Costs to fulfil contract^(2)^ 205 366
Others 4,378 1,078
₹ 10,331 ₹ 7,424
Current
Prepaid expenses ₹ 17,574 ₹ 15,375
Dues from officers and employees 343 344
Advance to suppliers 3,267 3,252
Balance with GST and other authorities 6,029 6,285
Costs to obtain contract^(1)^ 867 1,875
Costs to fulfil contract^(2)^ 60 113
Others 1,462 1,468
₹ 29,602 ₹ 28,712
₹ 39,933 ₹ 36,136
^(1)^ Costs to obtain contract amortization of<br>₹ 236 and ₹ 322 during the three months ended December 31, 2023 and<br>2024 respectively, ₹ 808 and ₹ 977 during the nine months ended<br>December 31, 2023 and 2024 respectively.
--- ---
^(2)^ Costs to fulfil contract amortization of<br>₹ 15 and ₹ 22 during the three months ended December 31, 2023 and 2024<br>respectively, ₹ 45 and ₹ 52 during the nine months ended December 31,<br>2023 and 2024 respectively.
--- ---

13. Loans, borrowings and bank overdrafts

As at
March 31, 2024 December 31, 2024
Non-current
Unsecured Notes 2026^(1)^ ₹ 62,300 ₹ 64,034
₹ 62,300 ₹ 64,034
Current
Borrowings from banks ₹ 79,164 ₹ 102,623
Bank overdrafts 2 15
₹ 79,166 ₹ 102,638
₹ 141,466 ₹ 166,672
^(1)^ On June 23, 2021, Wipro IT Services LLC, a wholly owned step-down subsidiary of Wipro Limited, issued US$<br>750 million in unsecured notes 2026 (the “Notes”). The Notes bear interest at a rate of 1.50% per annum and will mature on June 23, 2026. Interest on the Notes is payable semi-annually on June 23 and December 23 of each<br>year, commencing from December 23, 2021. The Notes are listed on Singapore Exchange Securities Trading Limited (SGX-ST).
--- ---

14. Trade payables and accrued expenses

As at
March 31, 2024 December 31, 2024
Trade payables ₹ 23,275 ₹ 16,050
Accrued expenses 65,291 65,150
₹ 88,566 ₹ 81,200

15. Other financial liabilities

As at
March 31, 2024 December 31, 2024
Non-current
Contingent consideration (Refer to Note 18) ₹ 429 ₹ 1,554
Liability on written put options to non-controlling<br>interests (Refer to Note 18) 4,303 4,821
Deposits and others 253 1,450
₹ 4,985 ₹ 7,825
Current
Contingent consideration (Refer to Note 18) ₹ — ₹ 262
Advance from customers 598 452
Cash settled ADS RSUs 3 —
Capital creditors 333 876
Deposits and others 1,338 1,520
₹ 2,272 ₹ 3,110
₹ 7,257 ₹ 10,935

15

16. Other liabilities

As at
March 31, 2024 December 31, 2024
Non-current
Employee benefits obligations ₹ 4,219 ₹ 4,381
Others 8,751 11,780
₹ 12,970 ₹ 16,161
Current
Employee benefits obligations ₹ 16,057 ₹ 15,060
Statutory and other liabilities 13,275 12,947
Advance from customers 1,192 590
Others 771 1,067
₹ 31,295 ₹ 29,664
₹ 44,265 ₹ 45,825

17. Provisions

As at
March 31, 2024 December 31, 2024
Non-current
Provision for onerous contracts ₹ — ₹ 381
₹ — ₹ 381
Current
Provision for onerous contracts ₹ 1,599 ₹ 1,155
Provision for warranty 217 206
Others 155 137
₹ 1,971 ₹ 1,498
₹ 1,971 ₹ 1,879

18. Financial instruments

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

Fair value through othercomprehensive income
Fair valuethrough profitor loss Mandatory Designated<br>upon initial<br>recognition Amortizedcost Total
Financial Assets:
Cash and cash equivalents (Refer to Note 10) ₹ — ₹ — ₹ — ₹ 96,953 ₹ 96,953
Investments (Refer to Note 8)
Equity Instruments 4,404 — 15,830 — 20,234
Fixed maturity plan mutual funds 1,395 — — — 1,395
Short-term mutual funds 71,686 — — — 71,686
Non-convertible debentures — 154,407 — — 154,407
Government securities — 7,030 — — 7,030
Commercial papers — 11,845 — — 11,845
Bonds — 28,195 — — 28,195
Inter corporate and term deposits — — — 38,008 38,008
Other financial assets
Trade receivables — — — 119,522 119,522
Unbilled receivables — — — 58,345 58,345
Other financial assets (Refer to Note 11) — — — 16,086 16,086
Derivative assets (Refer to Note 18) 390 — 968 — 1,358
₹ 77,875 ₹ 201,477 ₹ 16,798 ₹ 328,914 ₹ 625,064
Financial Liabilities:
Trade payables and other liabilities
Trade payables and accrued expenses (Refer to Note 14) ₹ — ₹ — ₹ — ₹ 88,566 ₹ 88,566
Other financial liabilities (Refer to Note 15) — — — 7,257 7,257
Loans, borrowings and bank overdrafts (Refer to Note 13) — — — 141,466 141,466
Lease liabilities — — — 23,183 23,183
Derivative liabilities (Refer to Note 18) 329 — 233 — 562
₹ 329 ₹ — ₹ 233 ₹ 260,472 ₹ 261,034

16

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

Fair value through othercomprehensive income
Fair valuethrough profitor loss Mandatory Designated<br>upon initial<br>recognition Amortizedcost Total
Financial Assets:
Cash and cash equivalents (Refer to Note 10) ₹ — ₹ — ₹ — ₹ 125,744 ₹ 125,744
Investments (Refer to Note 8)
Equity Instruments 5,075 — 16,174 — 21,249
Fixed maturity plan mutual funds 1,475 — — — 1,475
Short-term mutual funds 126,516 — — — 126,516
Non-convertible debentures — 214,685 — — 214,685
Government securities — 10,654 — — 10,654
Commercial papers — 3,953 — — 3,953
Bonds — 18,940 — — 18,940
Inter corporate and term deposits — — — 68,736 68,736
Other financial assets
Trade receivables — — — 115,215 115,215
Unbilled receivables — — — 58,775 58,775
Other financial assets (Refer to Note 11) — — — 14,146 14,146
Derivative assets (Refer to Note 18) 171 — 688 — 859
₹ 133,237 ₹ 248,232 ₹ 16,862 ₹ 382,616 ₹ 780,947
Financial Liabilities:
Trade payables and other liabilities
Trade payables and accrued expenses (Refer to Note 14) ₹ — ₹ — ₹ — ₹ 81,200 ₹ 81,200
Other financial liabilities (Refer to Note 15) — — — 10,935 10,935
Loans, borrowings and bank overdrafts (Refer to Note 13) — — — 166,672 166,672
Lease liabilities — — — 26,887 26,887
Derivative liabilities (Refer to Note 18) 672 — 2,280 — 2,952
₹ 672 ₹ — ₹ 2,280 ₹ 285,694 ₹ 288,646

Fair value

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

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

The Company’s Unsecured Notes 2026 are contracted at fixed coupon rate of 1.50% and market yield of Unsecured Notes 2026 as of December 31, 2024 is 4.99%

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

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

Fair value hierarchy

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

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

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

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

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

17

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

As at
March 31, 2024 December 31, 2024
Fair value measurements at reporting date Fair value measurements at reporting date
Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3
Assets
Derivative instruments:
Cash flow hedges ₹ 968 ₹ — ₹ 968 ₹ — ₹ 688 ₹ — ₹ 688 ₹ —
Others **** 390 — 390 — **** 171 — 171 —
Investments:
Short-term mutual funds **** 71,686 71,686 — — **** 126,516 126,516 — —
Fixed maturity plan mutual funds **** 1,395 — 1,395 — **** 1,475 — 1,475 —
Equity instruments **** 20,234 108 — 20,126 **** 21,249 61 — 21,188
Non-convertible debentures, government securities,<br>commercial papers and bonds **** 201,477 1,282 200,195 — **** 248,232 10,401 237,831 —
Liabilities
Derivative instruments:
Cash flow hedges ₹ (233 ) ₹ — ₹ (233 ) ₹ — ₹ (2,280 ) ₹ — ₹ (2,280 ) ₹ —
Others **** (329 ) — (329 ) — **** (672 ) — (672 ) —
Liability on written put options to non-controlling<br>interests **** (4,303 ) — — (4,303 ) **** (4,821 ) — — (4,821 )
Contingent consideration **** (429 ) — — (429 ) **** (1,816 ) — — (1,816 )

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<br>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<br>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 December 31, 2024, the changes in<br>counterparty credit risk had no material effect on the hedge effectiveness assessment for derivatives designated in hedge relationships and other financial instruments recognized at fair value.
Investment in non-convertible debentures, government securities, commercial papers, certificate of deposits and bonds Fair value of these instruments is derived based on the indicative quotes of price and yields prevailing in the market as at reporting date.
Investment in fixed maturity plan mutual funds Fair value of these instruments is derived based on the indicative quotes of price prevailing in the market as at reporting date.

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

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

18

The following table presents changes in Level 3 assets and liabilities for the year endedMarch 31, 2024 and nine months ended December 31, 2024:

As at
Investment in equity instruments March 31, 2024 December 31, 2024
Balance at the beginning of the period ₹ 19,321 ₹ 20,126
Additions 1,277 1,378
Disposals^(1) (2)^ (416 ) (535 )
Gain/(loss) recognized in consolidated statement of income (136 ) 376
Gain/(loss) recognized in other comprehensive income (485 ) (693 )
Translation adjustment 565 536
Balance at the end of the period ₹ 20,126 ₹ 21,188
^(1)^ During the year ended March 31, 2024, the Company sold its shares in Moogsoft (Herd) Inc. at a fair value of ₹ 179 and recognized a cumulative loss of ₹ 91 in other comprehensive income.<br>
--- ---
^(2)^ During the nine months ended December 31, 2024, the Company sold its shares in Headspin Inc. and Sealights<br>Technologies Ltd at a fair value of ₹ 397 and recognized a cumulative loss of ₹ 185<br>in other comprehensive income and cumulative gain of ₹ 58 in the consolidated statement of income.
--- ---
As at
--- --- --- --- --- --- ---
Contingent consideration March 31, 2024 December 31, 2024
Balance at the beginning of the period ₹ (3,053 ) ₹ (429 )
Addition through Business combination — (1,537 )
Reversals^(1)^ 1,300 167
Payouts 1,294 —
Finance expense (recognized)/reversed in consolidated statement of income 55 4
Translation adjustment (25 ) (21 )
Balance at the end of the period ₹ (429 ) ₹ (1,816 )
^(1)^ Towards change in fair value of earn-out liability as a result of<br>changes in estimates of revenue and earnings over the earn-out period.
--- ---
As at
--- --- --- --- --- --- ---
Liability on written put options to non-controlling interests March 31, 2024 December 31, 2024
Balance at the beginning of the period ₹ — ₹ (4,303 )
Addition through Business combination (4,238 ) —
Finance expense recognized in consolidated statement of income (33 ) (396 )
Translation adjustment (32 ) (122 )
Balance at the end of the period ₹ (4,303 ) ₹ (4,821 )

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.

19

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

Nine months ended December 31,
2023 2024
Balance as at the beginning of the period ₹ (1,762 ) ₹ 773 ****
Changes in fair value of effective portion of derivatives 389 (1,958 )
Deferred cancellation gain/(loss), net 14 (102 )
Net (gain)/loss reclassified to consolidated statement of income on occurrence of hedged<br>transactions^(1)^ 1306 (454 )
Net (gain)/loss on ineffective portion of derivative instruments classified to consolidated<br>statement of income (27 ) 43
Gain/(loss) on cash flow hedging derivatives, net ₹ 1,682 **** ₹ (2,471 )
Balance as at the end of the period ₹ (80 ) ₹ (1,698 )
Deferred tax asset/(liability) thereon 17 437
Balance as at the end of the period, net of deferred taxes ₹ (63 ) ₹ (1,261 )
^(1)^ Includes net (gain)/loss reclassified to revenue of<br>₹ (346); net (gain)/loss reclassified to cost of revenues of ₹ (13); net<br>(gain)/loss reclassified to finance expenses of ₹ (168), and net (gain)/loss reclassified to finance and other income of ₹ 73 for the nine months ended December 31, 2024.
--- ---

The related hedge transactions for balance in cash flow hedging reserves as at December 31, 2024 are expected to occur and be reclassified to the statement of income over a period of 20 months.

As at December 31, 2023 and 2024, there were no material gains or losses on derivative transactions or portions thereof that have become ineffective as hedges or associated with an underlying exposure that did not occur.

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:

Nine months ended December 31,
2023 2024
Balance at the beginning of the period ₹ 43,255 ₹ 47,261
Translation difference related to foreign operations, net 5,053 5,520
Reclassification of foreign currency translation differences on liquidation of subsidiaries to<br>statement of income (196 ) 14
Balance at the end of the period ₹ 48,112 ₹ 52,795

The movement in other reserves is summarized below:

Other Reserves
Particulars Remeasurementsof the defined benefitplans Investment in debtinstruments<br>measured at fairvalue through OCI Investment in equityinstruments<br>measured at fairvalue through OCI Capital RedemptionReserve Gross obligation tonon-controllinginterests under<br>put options
As at April 1, 2023 ₹ (548 ) ₹ (119 ) ₹ 10,793 ₹ 1,122 ₹ — ****
Other comprehensive income 372 1,255 33 — —
Buyback of equity shares (Refer to Note 30) — — — 539 —
As at December 31, 2023 ₹ (176 ) ₹ 1,136 ₹ 10,826 ₹ 1,661 ₹ — ****
As at April 1, 2024 ₹ (286 ) ₹ 1,397 ₹ 10,320 ₹ 1,661 ₹ (4,238 )
Other comprehensive income 159 611 (533 ) — —
Bonus issue of equity shares (Refer to Note 31) — — — (1,661 ) —
As at December 31, 2024 ₹ (127 ) ₹ 2,008 ₹ 9,787 ₹ — **** ₹ (4,238 )

20. Income taxes

Three months ended December 31, Nine months ended December 31,
2023 2024 2023 2024
Income tax expense as per the consolidated statement of income ₹ 8,515 ₹ 10,866 ₹ 26,049 ₹ 31,228
Income tax included in other comprehensive income on:
Gains/(losses) on investment securities (6 ) (99 ) 190 3
Gains/(losses) on cash flow hedging derivatives (237 ) (354 ) 343 (632 )
Remeasurements of the defined benefit plans 90 (94 ) 133 75
₹ 8,362 ₹ 10,319 ₹ 26,715 ₹ 30,674

Income tax expense consists of the following:

Three months ended December 31, Nine months ended December 31,
2023 2024 2023 2024
Current taxes ₹ 8,958 ₹ 10,829 ₹ 27,379 ₹ 32,349
Deferred taxes (443 ) 37 (1,330 ) (1,121 )
₹ 8,515 ₹ 10,866 ₹ 26,049 ₹ 31,228

20

Income tax expenses are net of provision reversal of taxes pertaining to earlier periods, amounting to ₹ 552 and ₹ 815 for the three months ended December 31, 2023 and 2024, and ₹ 1,288 and ₹ 1,617 for the nine months ended December 31, 2023 and 2024, 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 and nine months ended December 31, 2024. The Company is continuing to assess the impact, if any, of Pillar Two income taxes legislation on future financial performance.

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 December 31, 2023 is as follows:

IT Services IT Products Total
Americas 1 Americas 2 Europe APMEA Total
A. Revenue
Rendering of services ₹ 68,507 ₹ 66,468 ₹ 61,389 ₹ 24,882 ₹ 221,246 ₹ — ₹ 221,246
Sale of products — — — — — 805 **** 805
₹ 68,507 ₹ 66,468 ₹ 61,389 ₹ 24,882 ₹ 221,246 ₹ 805 ₹ 222,051
B. Revenue by sector
Banking, Financial Services and Insurance ₹ 506 ₹ 40,615 ₹ 22,378 ₹ 8,871 ₹ 72,370
Health 25,096 30 4,484 1,178 30,788
Consumer 25,180 1,408 10,897 4,055 41,540
Technology &<br>Communications^(1)^ 17,364 6,205 7,463 4,617 35,649
Energy, Manufacturing &<br>Resources^(1)^ 361 18,210 16,167 6,161 40,899
₹ 68,507 ₹ 66,468 ₹ 61,389 ₹ 24,882 ₹ 221,246 ₹ 805 ₹ 222,051
C. Revenue by nature of contract
Fixed price and volume based ₹ 39,123 ₹ 35,284 ₹ 36,464 ₹ 15,080 ₹ 125,951 ₹ — ₹ 125,951
Time and materials 29,384 31,184 24,925 9,802 95,295 — **** 95,295
Products — — — — — 805 **** 805
₹ 68,507 ₹ 66,468 ₹ 61,389 ₹ 24,882 ₹ 221,246 ₹ 805 ₹ 222,051

Information on disaggregation of revenues for the three months ended December 31, 2024 is as follows:

IT Services IT Products Total
Americas 1 Americas 2 Europe APMEA Total
A. Revenue
Rendering of services ₹ 71,894 ₹ 67,998 ₹ 59,274 ₹ 23,275 ₹ 222,441 ₹ — ₹ 222,441
Sale of products — — — — — 747 **** 747
₹ 71,894 ₹ 67,998 ₹ 59,274 ₹ 23,275 ₹ 222,441 ₹ 747 ₹ 223,188
B. Revenue by sector
Banking, Financial Services and Insurance ₹ 305 ₹ 43,563 ₹ 22,428 ₹ 9,556 ₹ 75,852
Health 28,476 59 3,275 882 32,692
Consumer 26,075 1,800 10,670 3,688 42,233
Technology &<br>Communications^(1)^ 16,183 5,955 8,277 3,555 33,970
Energy, Manufacturing &<br>Resources^(1)^ 855 16,621 14,624 5,594 37,694
₹ 71,894 ₹ 67,998 ₹ 59,274 ₹ 23,275 ₹ 222,441 ₹ 747 ₹ 223,188
C. Revenue by nature of contract
Fixed price and volume based ₹ 37,063 ₹ 34,704 ₹ 35,451 ₹ 14,174 ₹ 121,392 ₹ — ₹ 121,392
Time and materials 34,831 33,294 23,823 9,101 101,049 — **** 101,049
Products — — — — — 747 **** 747
₹ 71,894 ₹ 67,998 ₹ 59,274 ₹ 23,275 ₹ 222,441 ₹ 747 ₹ 223,188

22

Information on disaggregation of revenues for the nine months ended December 31, 2023 is as follows:

IT Services IT Products Total
Americas 1 Americas 2 Europe APMEA Total
A. Revenue
Rendering of services ₹ 200,864 ₹ 201,626 ₹ 192,436 ₹ 77,626 ₹ 672,552 ₹ — ₹ 672,552
Sale of products — — — — — 2,968 **** 2,968
₹ 200,864 ₹ 201,626 ₹ 192,436 ₹ 77,626 ₹ 672,552 ₹ 2,968 ₹ 675,520
B. Revenue by sector
Banking, Financial Services and Insurance ₹ 1,966 ₹ 123,785 ₹ 72,308 ₹ 26,798 ₹ 224,857
Health 69,636 141 13,588 3,775 87,140
Consumer 77,038 3,742 32,478 12,575 125,833
Technology &<br>Communications^(1)^ 51,500 18,801 23,279 14,883 108,463
Energy, Manufacturing &<br>Resources^(1)^ 724 55,157 50,783 19,595 126,259
₹ 200,864 ₹ 201,626 ₹ 192,436 ₹ 77,626 ₹ 672,552 ₹ 2,968 ₹ 675,520
C. Revenue by nature of contract
Fixed price and volume based ₹ 114,583 ₹ 105,065 ₹ 113,116 ₹ 46,792 ₹ 379,556 ₹ — ₹ 379,556
Time and material 86,281 96,561 79,320 30,834 292,996 — **** 292,996
Products — — — — — 2,968 **** 2,968
₹ 200,864 ₹ 201,626 ₹ 192,436 ₹ 77,626 ₹ 672,552 ₹ 2,968 ₹ 675,520

Information on disaggregation of revenues for the nine months ended December 31, 2024 is as follows:

IT Services IT Products Total
Americas 1 Americas 2 Europe APMEA Total
A. Revenue
Rendering of services ₹ 208,158 ₹ 203,448 ₹ 181,695 ₹ 70,662 ₹ 663,963 ₹ — ₹ 663,963
Sale of products — — — — — 1,879 **** 1,879
₹ 208,158 ₹ 203,448 ₹ 181,695 ₹ 70,662 ₹ 663,963 ₹ 1,879 ₹ 665,842
B. Revenue by sector
Banking, Financial Services and Insurance ₹ 976 ₹ 128,644 ₹ 69,627 ₹ 28,391 ₹ 227,638
Health 80,014 107 10,858 2,465 93,444
Consumer 77,477 5,580 32,284 11,541 126,882
Technology &<br>Communications^(1)^ 47,322 18,515 24,142 11,769 101,748
Energy, Manufacturing &<br>Resources^(1)^ 2,369 50,602 44,784 16,496 114,251
₹ 208,158 ₹ 203,448 ₹ 181,695 ₹ 70,662 ₹ 663,963 ₹ 1,879 ₹ 665,842
C. Revenue by nature of contract
Fixed price and volume based ₹ 107,892 ₹ 103,383 ₹ 107,997 ₹ 41,723 ₹ 360,995 ₹ — ₹ 360,995
Time and materials 100,266 100,065 73,698 28,939 302,968 — **** 302,968
Products — — — — — 1,879 **** 1,879
₹ 208,158 ₹ 203,448 ₹ 181,695 ₹ 70,662 ₹ 663,963 ₹ 1,879 ₹ 665,842
^(1)^ Effective October 1, 2024, the Company has reorganized its sectors by merging “Technology” and<br>“Communications” into “Technology and Communications” sector, and by merging “Energy, Natural Resources and Utilities” and “Manufacturing” into “Energy, Manufacturing & Resources” sector.<br>Comparative period disaggregation of revenue has been restated to give effect to this change.
--- ---

23

22. Expenses by nature

Three months ended December 31, Nine months ended December 31,
2023 2024 2023 2024
Employee compensation ₹ 134,234 ₹ 133,035 ₹ 413,046 ₹ 400,023
Sub-contracting and technical fees 25,780 25,903 78,712 75,252
Cost of hardware and software 831 778 3,138 2,329
Travel 3,529 3,164 11,753 10,937
Facility expenses 3,562 3,884 10,829 11,954
Software license expense for internal use 4,675 5,080 13,983 14,387
Depreciation, amortization and<br>impairment^(1)^ 9,316 6,765 25,666 22,362
Communication 1,313 871 3,922 2,943
Legal and professional fees 2,477 2,842 7,235 8,137
Rates, taxes and insurance 1,476 1,503 4,579 4,114
Marketing and brand building 1,031 1,032 2,888 2,674
Lifetime expected credit loss/ (write-back) (166 ) (608 ) 273 (41 )
(Gain)/loss on sale of property, plant and equipment, net^(2)^ 68 77 (2,174 ) (766 )
Miscellaneous expenses^(3)^ 1,322 306 1,412 (839 )
Total cost of revenues, selling and marketing expenses and general and administrativeexpenses ₹ 189,448 ₹ 184,632 ₹ 575,262 ₹ 553,466
^(1)^ Depreciation, amortization and impairment includes an impairment charge on intangible assets amounting to ₹ 456 and ₹ Nil for the three months ended December 31, 2023 and 2024,<br>respectively and ₹ 893 and ₹ 1,149 for the nine months ended<br>December 31, 2023 and 2024, respectively (Refer to Note 6).
--- ---
^(2)^ (Gain)/loss on sale of property, plant and equipment for the nine months ended December 31, 2023 and 2024,<br>includes gain on sale of immovable properties of ₹ (2,357) and gain on relinquishment of the lease hold rights of land, and transfer of building along with other<br>assets of ₹ (885), respectively.
--- ---
^(3)^ Miscellaneous expenses are net of reversals of contingent consideration of ₹ 508 and ₹ 167 for the nine months ended December 31, 2023 and 2024 (Refer to Note 18). Miscellaneous<br>expenses are net of insurance claim received of ₹ 1,805 during the nine months ended December 31, 2024.
--- ---

23. Finance expenses

Three months ended December 31, Nine months ended December 31,
2023 2024 2023 2024
Interest expense^(1)^ ₹ 3,125 ₹ 4,146 ₹ 9,244 ₹ 11,003
₹ 3,125 ₹ 4,146 ₹ 9,244 ₹ 11,003
^(1)^ Includes Interest expense on lease liabilities of<br>₹ 308 and ₹ 404 for the three months ended December 31, 2023 and 2024,<br>respectively and ₹ 960 and ₹ 1,151 for the nine months ended<br>December 31, 2023, and 2024, respectively.
--- ---

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

Three months ended December 31, Nine months ended December 31,
2023 2024 2023 2024
Interest income ₹ 4,735 ₹ 7,478 ₹ 14,137 ₹ 19,681
Dividend income from equity investments designated as FVTOCI — — 2 1
Net gain from investments classified as FVTPL 1,054 2,302 3,127 6,773
Net loss from investments classified as FVTOCI (4 ) (72 ) (129 ) (72 )
Finance and other income ₹ 5,785 ₹ 9,708 ₹ 17,137 ₹ 26,383
Foreign exchange gains/(losses), net, on financial instruments measured at FVTPL ₹ (632 ) ₹ (350 ) ₹ (101 ) ₹ (903 )
Other foreign exchange gains/(losses), net 894 760 569 711
Foreign exchange gains/(losses), net ₹ 262 ₹ 410 ₹ 468 ₹ (192 )

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 December 31, Nine months ended December 31,
2023 2024 2023 2024
Profit attributable to equity holders of the Company ₹ 26,942 ₹ 33,538 ₹ 82,106 ₹ 95,658
Weighted average number of equity shares outstanding 10,436,941,772 10,457,414,881 10,621,971,206 10,454,728,795
Basic earnings per equity share ₹ 2.58 ₹ 3.21 ₹ 7.73 ₹ 9.15

24

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

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

Three months ended December 31, Nine months ended December 31,
2023 2024 2023 2024
Profit attributable to equity holders of the Company ₹ 26,942 ₹ 33,538 ₹ 82,106 ₹ 95,658
Weighted average number of equity shares outstanding 10,436,941,772 10,457,414,881 10,621,971,206 10,454,728,795
Effect of dilutive equivalent share options 24,890,854 25,549,129 31,679,002 26,707,915
Weighted average number of equity shares for diluted earnings per equity share 10,461,832,626 10,482,964,010 10,653,650,208 10,481,436,710
Diluted earnings per equity share ₹ 2.58 ₹ 3.20 ₹ 7.71 ₹ 9.13

Earnings per share and number of shares outstanding for the three months and nine months ended December 31, 2023, have been proportionately adjusted for the bonus issue in the ratio of 1:1 i.e. 1 (one) bonus equity share of ₹ 2 each for every 1 (one) fully paid-up equity shares held (including ADS holders). Refer to Note 31.

Earnings per share for each of the three months ended June 30, 2023, September 30, 2023 and December 31, 2023 will not add up to earnings per share for the nine months ended December 31, 2023, on account of buyback of equity shares.

26. Employee compensation

Three months ended December 31, Nine months ended December 31,
2023 2024 2023 2024
Salaries and bonus ₹ 128,329 ₹ 126,258 ₹ 394,308 ₹ 380,914
Employee benefits plans 4,715 5,065 14,441 14,762
Share-based compensation^(1)^ 1,190 1,712 4,297 4,347
₹ 134,234 ₹ 133,035 ₹ 413,046 ₹ 400,023
^(1)^ Includes ₹ (3) and ₹ (3) for the three months ended December 31, 2023 and 2024, respectively and ₹ 5 and ₹ (8) for the nine months ended December 31, 2023 and 2024 respectively, towards cash settled ADS RSUs.
--- ---

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

Three months ended December 31, Nine months ended December 31,
2023 2024 2023 2024
Cost of revenues ₹ 110,777 ₹ 112,409 ₹ 343,354 ₹ 338,529
Selling and marketing expenses 12,808 12,186 38,416 36,562
General and administrative expenses 10,649 8,440 31,276 24,932
₹ 134,234 ₹ 133,035 ₹ 413,046 ₹ 400,023

The Company has granted below options under RSU and ADS option plan:

Three months ended December 31, Nine months ended December 31,
2023 2024 2023 2024
Restricted Stock Units (RSU) — 85,637 3,273,900 3,431,043
ADS RSU 422,024 74,677 8,775,276 8,470,177
Performance based stock options (RSUs) — — 1,892,498 2,014,993
Performance based stock options (ADS) 10,331 25,510 5,659,164 5,323,067

Numbers in above table are not given effect of bonus shares issued during the three months ended December 31, 2024.

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

27. Commitments andcontingencies

Capital commitments: As at March 31, 2024 and December 31, 2024 the Company had committed to spend approximately ₹ 10,322 and ₹ 9,170 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, 2024 and December 31, 2024, guarantees provided by banks on behalf of the Company to the Indian Government, customers and certain other agencies aggregate to ₹ 13,455 and ₹ 12,941 respectively, as part of the bank line of credit.

25

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

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

Income tax claims against the Company amounting to ₹ 95,520 and ₹ 98,007 are not acknowledged as debt as at March 31, 2024 and December 31, 2024, respectively. These matters are pending before various Appellate Authorities and the management expects its position will likely be upheld on ultimate resolution and will not have a material adverse effect on the Company’s financial position and results of operations.

The contingent liability in respect of disputed demands for excise duty, custom duty, sales tax and other matters amounting to ₹ 18,799 and ₹ 19,480 as of March 31, 2024, and December 31, 2024, respectively. However, the resolution of these disputed demands is not likely to have a material and adverse effect on the results of operations or the financial position of the Company.

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 primarily organized by industry sector, while Europe and APMEA are organized by countries.

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

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

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

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

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

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

26

Information on reportable segments for the three months ended December 31, 2023, is as follows:

IT Services IT Products ReconcilingItems Total
Americas 1 Americas 2 Europe APMEA Total
Revenue ₹ 68,581 ₹ 66,541 ₹ 61,473 ₹ 24,913 ₹ 221,508 ₹ 805 ₹ — ₹ 222,313
Segment result 16,459 15,180 7,906 3,433 **** 42,978 114 (2,675 ) 40,417
Unallocated **** (7,552 ) — — (7,552 )
Segment result total ₹ 35,426 ₹ 114 ₹ (2,675 ) ₹ 32,865
Finance expenses (3,125 )
Finance and other income 5,785
Share of net profit/(loss) of associate accounted for using the equity method (4 )
Profit before tax ₹ 35,521
Income tax expense (8,515 )
Profit for the period ₹ 27,006
Depreciation, amortization and impairment ₹ 9,316

Information on reportable segments for the three months ended December 31, 2024, is as follows:

IT Services IT Products ReconcilingItems Total
Americas 1 Americas 2 Europe APMEA Total
Revenue ₹ 72,010 ₹ 68,120 ₹ 59,282 ₹ 23,439 ₹ 222,851 ₹ 747 ₹ — ₹ 223,598
Segment result 14,966 15,275 7,600 3,667 **** 41,508 29 (53 ) 41,484
Unallocated **** (2,518 ) (2,518 )
Segment result total ₹ 38,990 ₹ 29 ₹ (53 ) ₹ 38,966
Finance expenses (4,146 )
Finance and other income 9,708
Share of net profit/(loss) of associate and joint venture accounted for using the equity<br>method 5
Profit before tax ₹ 44,533
Income tax expense (10,866 )
Profit for the period ₹ 33,667
Depreciation, amortization and impairment ₹ 6,765

27

Information on reportable segments for the nine months ended December 31, 2023, is as follows:

IT Services IT Products ReconcilingItems Total
Americas 1 Americas 2 Europe APMEA Total
Revenue ₹ 201,001 ₹ 201,758 ₹ 192,583 ₹ 77,678 ₹ 673,020 ₹ 2,968 ₹ — ₹ 675,988
Segment result 45,283 43,372 25,421 9,218 **** 123,294 (514 ) (6,761 ) 116,019
Unallocated **** (15,293 ) — — (15,293 )
Segment result total ₹ 108,001 ₹ (514 ) ₹ (6,761 ) ₹ 100,726
Finance expense (9,244 )
Finance and other income 17,137
Share of net profit/(loss) of associates accounted for using the equity method (31 )
Profit before tax ₹ 108,588
Income tax expense (26,049 )
Profit for the period ₹ 82,539
Depreciation, amortization and impairment ₹ 25,666

Information on reportable segments for the nine months ended December 31, 2024, is as follows:

IT Services IT Products ReconcilingItems Total
Americas 1 Americas 2 Europe APMEA Total
Revenue ₹ 208,103 ₹ 203,390 ₹ 181,525 ₹ 70,753 ₹ 663,771 ₹ 1,879 ₹ — ₹ 665,650
Segment result 41,991 45,813 21,294 9,178 **** 118,276 (201 ) 16 118,091
Unallocated **** (5,907 ) — — (5,907 )
Segment result total ₹ 112,369 ₹ (201 ) ₹ 16 ₹ 112,184
Finance expense (11,003 )
Finance and other income 26,383
Share of net profit/(loss) of associate and joint venture accounted for using the equity<br>method (37 )
Profit before tax ₹ 127,527
Income tax expense (31,228 )
Profit for the period ₹ 96,299
Depreciation, amortization and impairment ₹ 22,362

28

Revenues from India, being Company’s country of domicile, is ₹ 5,863 and ₹ 5,311 for the three months ended December 31, 2023 and 2024, respectively and ₹ 17,909 and ₹ 15,428 for the nine months ended December 31, 2023, and 2024, respectively.

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

Three months ended December 31, Nine months ended December 31,
2023 2024 2023 2024
United States of America ₹ 129,008 ₹ 133,884 ₹ 383,806 ₹ 393,558
United Kingdom 26,003 22,946 83,221 72,287
₹ 155,011 ₹ 156,830 ₹ 467,027 ₹ 465,845

No customer individually accounted for more than 10% of the revenues during the three and nine months ended December 31, 2023 and 2024.

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

Notes:

a) “Reconciling Items” includes elimination of inter-segment transactions and other corporate<br>activities.
b) Revenue from sale of Company owned intellectual properties is reported as part of IT Services revenues.<br>
--- ---
c) For the purpose of segment reporting, the Company has included the impact of “foreign exchange<br>gains/(losses), net” in revenues, which is reported as a part of operating profit in the interim condensed consolidated statement of income.
--- ---
d) Restructuring cost of<br>₹ 2,678 and ₹ 6,814 for the three and nine months ended December 31,<br>2023, respectively is included under Reconciling items.
--- ---
e) “Unallocated” within IT Services segment results is after recognition of amortization and impairment<br>expense on intangible assets of ₹ 3,893 and ₹ 1,577, for the three months<br>ended December 31, 2023 and 2024, respectively and of ₹ 9,187 and<br>₹ 6,278 for the nine months ended December 31, 2023 and 2024, respectively and change in fair value of contingent consideration of ₹ (2) and ₹ Nil, for the three months ended December 31, 2023 and 2024,<br>respectively and of ₹ (508) and ₹ (167) for the nine months ended<br>December 31, 2023 and 2024, respectively.
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Segment results of IT Services segment for the three and nine months ended December 31, 2023 are after considering additional amortization due to change in estimate of useful life of the customer-related intangibles in an earlier Business combination. (Refer to Note 6)

f) Segment results of IT Services segment are after recognition of share-based compensation expense of ₹ 1,190 and ₹ 1,712 for the three months ended December 31, 2023 and 2024,<br>respectively and ₹ 4,297 and ₹ 4,347 for the nine months ended<br>December 31, 2023 and 2024 respectively.
g) Segment results of IT Services segment are after recognition of (gain)/loss on sale of property, plant and<br>equipment of ₹ 68 and ₹ 77 for the three months ended December 31,<br>2023 and 2024, respectively and ₹ (2,174) and ₹ (766) for the nine months<br>ended December 31, 2023 and 2024 respectively.
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29. List of subsidiaries, associate and joint venture as at December 31,2024 is provided below:

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

29

Wipro 4C Consulting France SAS France
Wipro CRM Services B.V. (formerly known as Wipro 4C Nederland B.V) Netherlands
Wipro CRM Services ApS Denmark
Wipro CRM Services UK Limited U.K.
Grove Holdings 2 S.á.r.l Luxembourg
Capco Solution Services GmbH Germany
The Capital Markets Company Italy Srl Italy
Capco Brasil Serviços E Consultoria Ltda Brazil
The Capital Markets Company BV^(1)^ Belgium
Capco Consulting Middle East FZE^(4)^ UAE
PT. WT Indonesia Indonesia
Rainbow Software LLC Iraq
Wipro Arabia Limited^(2)^ Saudi Arabia
Women’s Business Park Technologies Limited^(2)^ Saudi Arabia
Wipro Doha LLC Qatar
Wipro Financial Outsourcing Services Limited U.K.
Wipro UK Limited U.K.
Wipro Gulf LLC Sultanate of Oman
Wipro Holdings Hungary Korlátolt Felelősségű Társaság Hungary
Wipro Holdings Investment Korlátolt Felelősségű Társaság Hungary
Wipro Information Technology Netherlands BV. Netherlands
Wipro do Brasil Technologia Ltda^(1)^ Brazil
Wipro Information Technology Kazakhstan LLP Kazakhstan
Wipro Outsourcing Services (Ireland) Limited Ireland
Wipro Portugal S.A.^(1)^ Portugal
Wipro Solutions Canada Limited Canada
Wipro Technologies Limited Russia
Wipro Technologies Peru SAC Peru
Wipro Technologies W.T. Sociedad Anonima Costa Rica
Wipro Technology Chile SPA Chile
Applied Value Technologies B.V.^(5)^ Netherlands
Wipro IT Service Ukraine, LLC Ukraine
Wipro IT Services Poland SP Z.O.O Poland
Wipro IT Services S.R.L. Romania
Wipro Regional Headquarter Saudi Arabia
Wipro Technologies Australia Pty Ltd Australia
Wipro Ampion Holdings Pty Ltd^(1)^ Australia
Wipro Technologies SA Argentina
Wipro Technologies SA DE CV Mexico
Wipro Technologies South Africa (Proprietary) Limited South Africa
Wipro Technologies Nigeria Limited Nigeria
Wipro Technologies SRL Romania
Wipro (Thailand) Co. Limited Thailand
Wipro Japan KK Japan
Wipro Networks Pte Limited Singapore
Wipro (Dalian) Limited China
Wipro Technologies SDN BHD Malaysia
Wipro Overseas IT Services Private Limited India
Wipro Philippines, Inc. Philippines
Wipro Shanghai Limited China
Wipro Trademarks Holding Limited India
Wipro Travel Services Limited India
Wipro VLSI Design Services India Private Limited India

30

Wipro, LLC USA
Wipro Gallagher Solutions, LLC USA
Wipro Insurance Solutions, LLC USA
Wipro IT Services, LLC USA
Aggne Global Inc.^(3)^ USA
Cardinal US Holdings, Inc.^(1)^ USA
Edgile, LLC USA
HealthPlan Services, Inc.^(1)^ USA
Infocrossing, LLC USA
International TechneGroup Incorporated^(1)^ USA
Wipro NextGen Enterprise Inc.^(1)^ USA
Rizing Intermediate Holdings, Inc.^(1)^ USA
Wipro Appirio, Inc.^(1)^ USA
Wipro Designit Services, Inc.^(1)^ USA
Wipro Telecom Consulting LLC USA
Wipro VLSI Design Services, LLC USA
Applied Value Technologies, Inc.^(6)^ USA
Aggne Global IT Services Private Limited^(3)^ India
Wipro, Inc.^(7)^ USA
Wipro Life Science Solutions, LLC^(8)^ USA

The Company controls ‘The Wipro SA Broad Based Ownership Scheme Trust’, ‘Wipro SA Broad Based Ownership Scheme SPV (RF) (PTY) LTD’ incorporated in South Africa and Wipro Foundation in India. All the above direct subsidiaries are 100% held by the Company except as mentioned in footnote (2) and (3) below.

^(2)^ Wipro IT Services UK Societas holds 66.67% of the equity securities of Wipro Arabia Limited. Wipro Arabia<br>Limited holds 55% of the equity securities of Women’s Business Park Technologies Limited.
^(3)^ The Company holds 60% of the equity securities of Aggne Global IT Services Private Limited and Wipro IT<br>Services, LLC holds 60% of the equity securities of Aggne Global Inc.
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^(4)^ Capco Consulting Middle East FZE has been incorporated with effect from December 17, 2024 which is 100%<br>held by Grove Holdings 2 S.á.r.l.
--- ---
^(5)^ Wipro Information Technology Netherlands BV. has acquired 100% of the equity securities of Applied Value<br>Technologies B.V.
--- ---
^(6)^ Wipro IT Services, LLC has acquired 100% of the equity securities of Applied Value Technologies, Inc.<br>
--- ---
^(7)^ Wipro, Inc. has been incorporated as a wholly-owned subsidiary of the Company with the effect from<br>September 30, 2024.
--- ---
^(8)^ Wipro Life Science Solutions, LLC has been incorporated as a wholly-owned subsidiary of Wipro, Inc. with effect<br>from October 10, 2024.
--- ---
^(1)^ Step Subsidiary details of Cardinal US Holdings, Inc., HealthPlan Services, Inc., International TechneGroup<br>Incorporated, Wipro NextGen Enterprise Inc., Rizing Intermediate Holdings, Inc., The Capital Markets Company BV, Wipro Ampion Holdings Pty Ltd, Wipro Appirio, Inc., Wipro Designit Services, Inc., Wipro do Brasil Technologia Ltda and Wipro Portugal<br>S.A. are as follows:
--- ---
Subsidiaries Subsidiaries Subsidiaries Country ofIncorporation
--- --- --- ---
Cardinal US Holdings, Inc. USA
Capco Consulting Services LLC USA
Capco RISC Consulting LLC USA
The Capital Markets Company LLC USA
HealthPlan Services, Inc. USA
HealthPlan Services Insurance Agency, LLC USA
International TechneGroup Incorporated USA
International TechneGroup Ltd. U.K.
ITI Proficiency Ltd Israel
MechWorks S.R.L. Italy
Wipro NextGen Enterprise Inc. USA
LeanSwift AB Sweden

31

Rizing Intermediate Holdings, Inc. USA
Rizing Lanka (Private) Ltd Sri Lanka
Attune Netherlands B.V.^(9)^ Netherlands
Rizing Solutions Canada Inc. Canada
Rizing LLC USA
Aasonn Philippines Inc. Philippines
Rizing B.V. Netherlands
Rizing Consulting Ireland Limited Ireland
Rizing Consulting Pty Ltd. Australia
Rizing Geospatial LLC USA
Rizing GmbH Germany
Rizing Limited U.K.
Rizing Pte Ltd.^(9)^ Singapore
The Capital Markets Company BV Belgium
CapAfric Consulting (Pty) Ltd South Africa
Capco Belgium BV Belgium
Capco Consultancy (Malaysia) Sdn. Bhd Malaysia
Capco Consultancy (Thailand) Ltd Thailand
Capco Consulting Singapore Pte. Ltd Singapore
Capco Greece Single Member P.C Greece
Capco Poland sp. z.o.o Poland
The Capital Markets Company (UK) Ltd U.K.
Capco (UK) 1, Limited U.K.
The Capital Markets Company GmbH Germany
Capco Austria GmbH Austria
The Capital Markets Company Limited Hong Kong
The Capital Markets Company Limited Canada
The Capital Markets Company S.á.r.l Switzerland
Andrion AG Switzerland
The Capital Markets Company S.A.S France
The Capital Markets Company s.r.o Slovakia
Wipro Ampion Holdings Pty Ltd Australia
Wipro Revolution IT Pty Ltd Australia
Crowdsprint Pty Ltd Australia
Wipro Shelde Australia Pty Ltd Australia
Wipro Appirio, Inc. USA
Wipro Appirio (Ireland) Limited Ireland
Wipro Appirio UK Limited U.K.
Topcoder, LLC. USA
Wipro Designit Services, Inc. USA
Wipro Designit Services Limited Ireland
Wipro do Brasil Technologia Ltda Brazil
Wipro do Brasil Servicos Ltda Brazil
Wipro Do Brasil Sistemas De Informatica Ltda Brazil
Wipro Portugal S.A. Portugal
Wipro Technologies GmbH Germany
Wipro Business Solutions GmbH^(9)^ Germany
Wipro IT Services Austria GmbH Austria

32

^(9)^ Step Subsidiary details of Attune Netherlands B.V., Rizing Pte Ltd., Wipro Business Solutions GmbH are as<br>follows:
Subsidiaries Subsidiaries Subsidiaries Country ofIncorporation
--- --- --- ---
Attune Netherlands B.V. Netherlands
Rizing Consulting USA, Inc. USA
Rizing Germany GmbH Germany
Attune Italia S.R.L Italy
Attune UK Ltd. U.K.
Rizing Pte Ltd. Singapore
Rizing New Zealand Ltd. New Zealand
Rizing Philippines Inc. Philippines
Rizing SDN BHD Malaysia
Rizing Solutions Pty Ltd Australia
Wipro Business Solutions GmbH Germany
Wipro Technology Solutions S.R.L Romania

As at December 31, 2024, the Company held 43.7% interest in Drivestream Inc. and 27% interest in SDVerse LLC, accounted for using the equity method.

The list of controlled trusts are:

Name of the entity Country of incorporation
Wipro Equity Reward Trust India
Wipro Foundation India

30. Buyback of equity shares

During the nine months ended December 31, 2023, the Company concluded the buyback of 269,662,921 equity shares (at a price of ₹ 445 per equity share) as approved by the Board of Directors on April 27, 2023. This has resulted in a total cash outflow of ₹ 145,173 (including tax on buyback of ₹ 24,783 and transaction costs related to buyback of ₹ 390). In line with the requirement of the Companies Act, 2013, an amount of ₹ 3,768 and ₹ 141,405 has been utilized from share premium and retained earnings respectively. Further, capital redemption reserve (included in other reserves) of ₹ 539 (representing the nominal value of the shares bought back) has been created as an apportionment from retained earnings. Consequent to such buyback, the paid-up equity share capital has reduced by ₹ 539.

31. Issue of bonus shares

The bonus issue in the ratio of 1:1 i.e.1 (one) bonus equity share of ₹ 2 each for every 1 (one) fully paid-up equity shares held (including ADS holders) was approved by the shareholders of the Company on November 21, 2024. Subsequently, on December 4, 2024, the Company allotted 5,232,094,402 equity shares (including ADS) to shareholders who held equity shares as on the record date of December 3, 2024. The Company also allotted 1:1 bonus equity share on 1,274,805 equity shares (including ADS) under allotment as on the record date. Consequently, ₹ 10,467 (representing par value of ₹ 2 per share) was transferred from capital redemption reserves, securities premium and retained earnings to the share capital.

32. Events after the reporting period

The Board of Directors in their meeting held on January 17, 2025, declared an interim dividend of ₹ XXX /- (USD XXX) per equity share and ADR (XXX% 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 Managing Director
Anand Subramanian Aparna C. Iyer M. Sanaulla Khan
Partner Chief Financial Officer Company Secretary
Membership No. 110815
Bengaluru
January 17, 2025

33

WIPRO LIMITED

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

Website: www.wipro.com ; Email id – [email protected] ; Tel:+91-80-2844 0011 ; Fax: +91-80-2844 0054

STATUTORILY AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED DECEMBER 31, 2024

UNDER IFRS (IASB)

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

Particulars Three months ended Nine months ended Year ended
December 31,2024 September 30,2024 December 31,2023 December 31,2024 December 31,2023 March 31,2024
Income
a) Revenue from operations 223,188 223,016 222,051 665,842 675,520 897,603
b) Foreign exchange gains/(losses), net 410 (396 ) 262 (192 ) 468 340
I Total income **** 223,598 **** 222,620 **** 222,313 **** 665,650 **** 675,988 **** 897,943
Expenses
a) Purchases of<br>stock-in-trade 459 1,034 1,453 2,157 3,007 3,832
b) Changes in inventories of<br>stock-in-trade 318 (152 ) (616 ) 164 122 278
c) Employee benefits expense 133,035 134,695 134,234 400,023 413,046 549,301
d) Depreciation, amortization and impairment expense 6,765 8,308 9,316 22,362 25,666 34,071
e) Sub-contracting and technical fees 25,903 24,582 25,780 75,252 78,712 103,030
f) Facility expenses 3,884 3,937 3,562 11,954 10,829 14,556
g) Travel 3,164 3,836 3,529 10,937 11,753 15,102
h) Communication 871 1,079 1,313 2,943 3,922 4,878
i) Legal and professional fees 2,842 3,013 2,477 8,137 7,235 9,559
j) Software license expense for internal use 5,080 4,702 4,675 14,387 13,983 18,378
k) Marketing and brand building 1,032 838 1,031 2,674 2,888 3,555
l) Lifetime expected credit loss/ (write-back) (608 ) 593 (166 ) (41 ) 273 640
m) (Gain)/loss on sale of property, plant and equipment, net 77 (820 ) 68 (766 ) (2,174 ) (2,072 )
n) Other expenses 1,810 (174 ) 2,792 3,283 6,000 6,736
II Total expenses **** 184,632 **** 185,471 **** 189,448 **** 553,466 **** 575,262 **** 761,844
III Finance expenses 4,146 3,569 3,125 11,003 9,244 12,552
IV Finance and other income 9,708 9,195 5,785 26,383 17,137 23,896
V Share of net profit/ (loss) of associate and joint venture accounted for using the equity<br>method 5 3 (4 ) (37 ) (31 ) (233 )
VI Profit before tax[I-II-III+IV+V] **** 44,533 **** 42,778 **** 35,521 **** 127,527 **** 108,588 **** 147,210
VII Tax expense 10,866 10,512 8,515 31,228 26,049 36,089
VIII Profit for the period [VI-VII] **** 33,667 **** 32,266 **** 27,006 **** 96,299 **** 82,539 **** 111,121
Other comprehensive income (OCI)
Items that will not be reclassified to profit or loss in subsequent periods
Remeasurements of the defined benefit plans, net (231 ) 323 253 150 259 82
Net change in fair value of investment in equity instruments measured at fair value through<br>OCI (367 ) 153 141 (533 ) 33 (473 )
Items that will be reclassified to profit or loss in subsequent periods
Foreign currency translation differences 1,853 5,115 3,601 5,569 5,063 4,219
Reclassification of foreign currency translation differences on liquidation of subsidiaries to<br>statement of income 1 13 (15 ) 14 (196 ) (198 )
Net change in time value of option contracts designated as cash flow hedges, net of<br>taxes 269 (368 ) (324 ) (95 ) (73 ) 198
Net change in intrinsic value of option contracts designated as cash flow hedges, net of<br>taxes (171 ) (103 ) (88 ) (189 ) 113 128
Net change in fair value of forward contracts designated as cash flow hedges, net of<br>taxes (1,100 ) (673 ) (286 ) (1,555 ) 1,300 1,655
Net change in fair value of investment in debt instruments measured at fair value through OCI,<br>net of taxes 37 390 (81 ) 611 1,255 1,516

34

IX Total other comprehensive income for the period, net of taxes 4,850 3,201 3,972 7,754 7,127
Total comprehensive income for the period [VIII+IX] 37,116 30,207 100,271 90,293 118,248
X Profit for the period attributable to:
Equity holders of the Company 32,088 26,942 95,658 82,106 110,452
Non-controlling interests 178 64 641 433 669
32,266 27,006 96,299 82,539 111,121
Total comprehensive income for the period attributable to:
Equity holders of the Company 36,942 30,154 99,590 89,963 117,744
Non-controlling interests 174 53 681 330 504
37,116 30,207 100,271 90,293 118,248
XI Paid up equity share capital (Par value<br> 2 per share) 10,463 10,448 20,938 10,448 10,450
XII Reserves excluding revaluation reserves and Non-controlling<br>interests as per balance sheet 739,433
XIII Earnings per share (EPS)
(Equity shares of par value of<br> 2/- each)
(EPS for the three and nine months ended periods are not annualized)
Basic (in<br>) 3.07 2.58 9.15 7.73 10.44
Diluted (in<br>) 3.06 2.58 9.13 7.71 10.41

All values are in Indian Rupees.

1. The audited consolidated financial results of the Company for the three and nine months ended<br>December 31, 2024, have been approved by the Board of Directors of the Company at its meeting held on January 17, 2025. The Company confirms that its statutory auditors, Deloitte Haskins & Sells LLP have issued an audit report<br>with unmodified opinion on the consolidated financial results.
2. The above consolidated financial results have been prepared on the basis of the audited interim<br>condensed consolidated financial statements which are prepared in accordance with International Financial Reporting Standards and its interpretations (“IFRS”), as issued by the International Accounting Standards Board (“IASB”).<br>All amounts included in the consolidated financial results (including notes) are reported in millions of Indian rupees (₹ in millions) except share and per share<br>data, unless otherwise stated.
--- ---
3. (Gain)/loss on sale of property, plant and equipment for the three months ended September 30, 2024<br>and nine months ended December 31, 2024, includes gain on relinquishment of the lease hold rights of land, and transfer of building along with other assets of<br>₹ (885), and for the nine months ended December 31, 2023 and year ended March 31, 2024 includes gain on sale of immovable properties of ₹ (2,357).
--- ---
4. Other expenses are net of reversals of contingent consideration of ₹ Nil, ₹ 167, ₹ 2 for<br>the three months ended December 31, 2024, September 30, 2024 and December 31, 2023, ₹ 167 and ₹ 508 for the nine months ended December 31, 2024 and 2023, and ₹ 1,300 for the year ended March 31,<br>2024, respectively. Other expenses are net of insurance claim received of ₹ Nil,<br>₹ 1,805, ₹ Nil for the three months ended December 31, 2024,<br>September 30, 2024 and December 31, 2023, ₹ 1,805 and ₹ Nil for<br>the nine months ended December 31, 2024 and 2023, and ₹ Nil for the year ended March 31, 2024, respectively.
--- ---
5. List of subsidiaries, associate and joint venture as at December 31, 2024 are provided in the tablebelow:
--- ---
Subsidiaries Subsidiaries Subsidiaries Country ofIncorporation
--- --- --- ---
Attune Consulting India Private Limited India
Capco Technologies Private Limited India
Wipro Technology Product Services Private Limited India
Wipro Chengdu Limited China
Wipro Holdings (UK) Limited U.K.
Wipro HR Services India Private Limited India
Wipro IT Services Bangladesh Limited Bangladesh
Wipro IT Services UK Societas U.K.
Designit A/S Denmark
Designit Denmark A/S Denmark
Designit Germany GmbH Germany
Designit Oslo A/S Norway

35

Designit Spain Digital, S.L.U Spain
Designit Sweden AB Sweden
Designit T.L.V Ltd. Israel
Wipro Bahrain Limited Co. W.L.L Bahrain
Wipro Czech Republic IT Services s.r.o. Czech Republic
Wipro CRM Services (formerly known as Wipro 4C NV) Belgium
Wipro 4C Consulting France SAS France
Wipro CRM Services B.V. (formerly known as Wipro 4C Nederland B.V) Netherlands
Wipro CRM Services ApS Denmark
Wipro CRM Services UK Limited U.K.
Grove Holdings 2 S.á.r.l Luxembourg
Capco Solution Services GmbH Germany
The Capital Markets Company Italy Srl Italy
Capco Brasil Serviços E Consultoria Ltda Brazil
The Capital Markets Company<br>BV^(1)^ Belgium
Capco Consulting Middle East<br>FZE^(4)^ UAE
PT. WT Indonesia Indonesia
Rainbow Software LLC Iraq
Wipro Arabia Limited^(2)^ Saudi Arabia
Women’s Business Park Technologies Limited^(2)^ Saudi Arabia
Wipro Doha LLC Qatar
Wipro Financial Outsourcing Services Limited U.K.
Wipro UK Limited U.K.
Wipro Gulf LLC Sultanate of Oman
Wipro Holdings Hungary Korlátolt Felelősségű Társaság Hungary
Wipro Holdings Investment Korlátolt Felelősségű Társaság Hungary
Wipro Information Technology Netherlands BV. Netherlands
Wipro do Brasil Technologia<br>Ltda^(1)^ Brazil
Wipro Information Technology Kazakhstan LLP Kazakhstan
Wipro Outsourcing Services (Ireland) Limited Ireland
Wipro Portugal S.A.^(1)^ Portugal
Wipro Solutions Canada Limited Canada
Wipro Technologies Limited Russia
Wipro Technologies Peru SAC Peru
Wipro Technologies W.T. Sociedad Anonima Costa Rica
Wipro Technology Chile SPA Chile
Applied Value Technologies<br>B.V.^(5)^ Netherlands
Wipro IT Service Ukraine, LLC Ukraine
Wipro IT Services Poland SP Z.O.O Poland
Wipro IT Services S.R.L. Romania
Wipro Regional Headquarter Saudi Arabia
Wipro Technologies Australia Pty Ltd Australia
Wipro Ampion Holdings Pty<br>Ltd^(1)^ Australia
Wipro Technologies SA Argentina
Wipro Technologies SA DE CV Mexico
Wipro Technologies South Africa (Proprietary) Limited South Africa
Wipro Technologies Nigeria Limited Nigeria
Wipro Technologies SRL Romania
Wipro (Thailand) Co. Limited Thailand
Wipro Japan KK Japan
Wipro Networks Pte Limited Singapore
Wipro (Dalian) Limited China
Wipro Technologies SDN BHD Malaysia

36

Wipro Overseas IT Services Private Limited India
Wipro Philippines, Inc. Philippines
Wipro Shanghai Limited China
Wipro Trademarks Holding Limited India
Wipro Travel Services Limited India
Wipro VLSI Design Services India Private Limited India
Wipro, LLC USA
Wipro Gallagher Solutions, LLC USA
Wipro Insurance Solutions, LLC USA
Wipro IT Services, LLC USA
Aggne Global Inc.^(3)^ USA
Cardinal US Holdings, Inc.^(1)^ USA
Edgile, LLC USA
HealthPlan Services, Inc.^(1)^ USA
Infocrossing, LLC USA
International TechneGroup<br>Incorporated^(1)^ USA
Wipro NextGen Enterprise<br>Inc.^(1)^ USA
Rizing Intermediate Holdings,<br>Inc.^(1)^ USA
Wipro Appirio, Inc.^(1)^ USA
Wipro Designit Services,<br>Inc.^(1)^ USA
Wipro Telecom Consulting LLC USA
Wipro VLSI Design Services, LLC USA
Applied Value Technologies,<br>Inc.^(6)^ USA
Aggne Global IT Services Private<br>Limited^(3)^ India
Wipro, Inc.^(7)^ USA
Wipro Life Science Solutions,<br>LLC^(8)^ USA

The Company controls ‘The Wipro SA Broad Based Ownership Scheme Trust’, ‘Wipro SA Broad Based Ownership Scheme SPV (RF) (PTY) LTD’ incorporated in South Africa and Wipro Foundation in India. All the above direct subsidiaries are 100% held by the Company except as mentioned in footnote (2) and (3) below.

^(2)^ Wipro IT Services UK Societas holds 66.67% of the equity securities of Wipro Arabia Limited. Wipro Arabia<br>Limited holds 55% of the equity securities of Women’s Business Park Technologies Limited.
^(3)^ The Company holds 60% of the equity securities of Aggne Global IT Services Private Limited and Wipro IT<br>Services, LLC holds 60% of the equity securities of Aggne Global Inc.
--- ---
^(4)^ Capco Consulting Middle East FZE has been incorporated with effect from December 17, 2024 which is 100%<br>held by Grove Holdings 2 S.á.r.l.
--- ---
^(5)^ Wipro Information Technology Netherlands BV. has acquired 100% of the equity securities of Applied Value<br>Technologies B.V.
--- ---
^(6)^ Wipro IT Services, LLC has acquired 100% of the equity securities of Applied Value Technologies, Inc.<br>
--- ---
^(7)^ Wipro, Inc. has been incorporated as a wholly-owned subsidiary of the Company with the effect from<br>September 30, 2024.
--- ---
^(8)^ Wipro Life Science Solutions, LLC has been incorporated as a wholly-owned subsidiary of Wipro, Inc. with effect<br>from October 10, 2024.
--- ---
^(1)^ Step Subsidiary details of Cardinal US Holdings, Inc., HealthPlan Services, Inc., International TechneGroup<br>Incorporated, Wipro NextGen Enterprise Inc., Rizing Intermediate Holdings, Inc., The Capital Markets Company BV, Wipro Ampion Holdings Pty Ltd, Wipro Appirio, Inc., Wipro Designit Services, Inc., Wipro do Brasil Technologia Ltda and Wipro Portugal<br>S.A. are as follows:
--- ---
Subsidiaries Subsidiaries Subsidiaries Country ofIncorporation
--- --- --- ---
Cardinal US Holdings, Inc. USA
Capco Consulting Services LLC USA
Capco RISC Consulting LLC USA
The Capital Markets Company LLC USA

37

HealthPlan Services, Inc. USA
HealthPlan Services Insurance Agency, LLC USA
International TechneGroup Incorporated USA
International TechneGroup Ltd. U.K.
ITI Proficiency Ltd Israel
MechWorks S.R.L. Italy
Wipro NextGen Enterprise Inc. USA
LeanSwift AB Sweden
Rizing Intermediate Holdings, Inc. USA
Rizing Lanka (Private) Ltd Sri Lanka
Attune Netherlands B.V.^(9)^ Netherlands
Rizing Solutions Canada Inc. Canada
Rizing LLC USA
Aasonn Philippines Inc. Philippines
Rizing B.V. Netherlands
Rizing Consulting Ireland Limited Ireland
Rizing Consulting Pty Ltd. Australia
Rizing Geospatial LLC USA
Rizing GmbH Germany
Rizing Limited U.K.
Rizing Pte Ltd.^(9)^ Singapore
The Capital Markets Company BV Belgium
CapAfric Consulting (Pty) Ltd South Africa
Capco Belgium BV Belgium
Capco Consultancy (Malaysia) Sdn. Bhd Malaysia
Capco Consultancy (Thailand) Ltd Thailand
Capco Consulting Singapore Pte. Ltd Singapore
Capco Greece Single Member P.C Greece
Capco Poland sp. z.o.o Poland
The Capital Markets Company (UK) Ltd U.K.
Capco (UK) 1, Limited U.K.
The Capital Markets Company GmbH Germany
Capco Austria GmbH Austria
The Capital Markets Company Limited Hong Kong
The Capital Markets Company Limited Canada
The Capital Markets Company S.á.r.l Switzerland
Andrion AG Switzerland
The Capital Markets Company S.A.S France
The Capital Markets Company s.r.o Slovakia
Wipro Ampion Holdings Pty Ltd Australia
Wipro Revolution IT Pty Ltd Australia
Crowdsprint Pty Ltd Australia
Wipro Shelde Australia Pty Ltd Australia
Wipro Appirio, Inc. USA
Wipro Appirio (Ireland) Limited Ireland
Wipro Appirio UK Limited U.K.
Topcoder, LLC. USA
Wipro Designit Services, Inc. USA
Wipro Designit Services Limited Ireland
Wipro do Brasil Technologia Ltda Brazil
Wipro do Brasil Servicos Ltda Brazil
Wipro Do Brasil Sistemas De Informatica Ltda Brazil
Wipro Portugal S.A. Portugal
Wipro Technologies GmbH Germany
Wipro Business Solutions GmbH^(9)^ Germany
Wipro IT Services Austria GmbH Austria

38

^(9)^ Step Subsidiary details of Attune Netherlands B.V., Rizing Pte Ltd., Wipro Business Solutions GmbH are as<br>follows:
Subsidiaries Subsidiaries Subsidiaries Country ofIncorporation
--- --- --- ---
Attune Netherlands B.V. Netherlands
Rizing Consulting USA, Inc. USA
Rizing Germany GmbH Germany
Attune Italia S.R.L Italy
Attune UK Ltd. U.K.
Rizing Pte Ltd. Singapore
Rizing New Zealand Ltd. New Zealand
Rizing Philippines Inc. Philippines
Rizing SDN BHD Malaysia
Rizing Solutions Pty Ltd Australia
Wipro Business Solutions GmbH Germany
Wipro Technology Solutions S.R.L Romania

As at December 31, 2024, the Company held 43.7% interest in Drivestream Inc. and 27% interest in SDVerse LLC, accounted for using the equity method.

The list of controlled trusts are:

Name of the entity Country of incorporation
Wipro Equity Reward Trust India
Wipro Foundation India
6. Segment Information
--- ---

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

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

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

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

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

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

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

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

39

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

Particulars Three months ended Nine months ended Year ended
December 31,2024 September 30,2024 December 31,2023 December 31,2024 December 31,2023 March 31,2024
Audited Audited Audited Audited Audited Audited
Segment revenue
IT Services
Americas 1 72,010 68,393 68,581 208,103 201,001 268,230
Americas 2 68,120 67,932 66,541 203,390 201,758 269,482
Europe 59,282 61,821 61,473 181,525 192,583 253,927
APMEA 23,439 23,811 24,913 70,753 77,678 102,177
Total of IT Services **** 222,851 **** 221,957 **** 221,508 **** 663,771 **** 673,020 **** 893,816
IT Products 747 663 805 1,879 2,968 4,127
Total segment revenue **** 223,598 **** 222,620 **** 222,313 **** 665,650 **** 675,988 **** 897,943
Segment result
IT Services
Americas 1 14,966 13,338 16,459 41,991 45,283 59,364
Americas 2 15,275 15,005 15,180 45,813 43,372 59,163
Europe 7,600 7,821 7,906 21,294 25,421 33,354
APMEA 3,667 3,070 3,433 9,178 9,218 12,619
Unallocated (2,518 ) (1,912 ) (7,552 ) (5,907 ) (15,293 ) (20,304 )
Total of IT Services **** 38,990 **** 37,322 **** 35,426 **** 112,369 **** 108,001 **** 144,196
IT Products 29 (183 ) 114 (201 ) (514 ) (371 )
Reconciling Items (53 ) 10 (2,675 ) 16 (6,761 ) (7,726 )
Total segment result **** 38,966 **** 37,149 **** 32,865 **** 112,184 **** 100,726 **** 136,099
Finance expenses (4,146 ) (3,569 ) (3,125 ) (11,003 ) (9,244 ) (12,552 )
Finance and other income 9,708 9,195 5,785 26,383 17,137 23,896
Share of net profit/ (loss) of associate and joint venture accounted for using the equity<br>method 5 3 (4 ) (37 ) (31 ) (233 )
Profit before tax **** 44,533 **** 42,778 **** 35,521 **** 127,527 **** 108,588 **** 147,210

Notes:

a) “Reconciling Items” includes elimination of inter-segment transactions and other corporate<br>activities.
b) Revenue from sale of Company owned intellectual properties is reported as part of IT Services revenues.<br>
--- ---
c) For the purpose of segment reporting, the Company has included the net impact of foreign exchange<br>gains/(losses), net in revenues amounting to ₹ 410, ₹ (396), and ₹ 262 for the three months ended December 31, 2024, September 30, 2024 and December 31, 2023 respectively, ₹ (192), and ₹ 468 for the nine months ended December 31, 2024, December 31, 2023, respectively and ₹ 340 for the year ended March 31, 2024, which is reported under foreign exchange gains/(losses), net in the consolidated financial results.
--- ---
d) Restructuring cost of<br>₹ 2,678 and ₹ 6,814 for the three and nine months ended December 31,<br>2023 respectively, and ₹ 6,814 for the year ended March 31, 2024, is included under Reconciling Items.
--- ---
e) Reconciling Items for the year ended March 31, 2024 includes employee costs of<br>₹ 921 towards outgoing CEO and Managing Director.
--- ---
f) “Unallocated” within IT Services segment results is after recognition of amortization and impairment<br>expense on intangible assets of ₹ 1,577, ₹ 2,919, ₹ 3,893, ₹ 6,278,<br>₹ 9,187 and ₹ 11,756 for the three months ended December 31, 2024,<br>September 30, 2024, December 31, 2023, nine months ended December 31, 2024, December 31, 2023 and year ended March 31, 2024 respectively, and change in fair value of contingent consideration of ₹ Nil, ₹ (167), ₹ (2), ₹ (167), ₹ (508) and<br>₹ (1,300) for the three months ended December 31, 2024, September 30, 2024, December 31, 2023, nine months ended December 31, 2024,<br>December 31, 2023 and year ended March 31, 2024 respectively.
--- ---

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

g) Segment results of IT Services segment are after recognition of share-based compensation expense ₹ 1,712, ₹ 1,306 and<br>₹ 1,190 for the three months ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and ₹ 4,347 and ₹ 4,297 for the nine months ended December 31, 2024, December 31, 2023, respectively, and<br>₹ 5,590 for the year ended March 31, 2024.
h) Segment results of IT Services segment are after recognition of (gain)/loss on sale of property, plant and<br>equipment of ₹ 77, (820) and ₹ 68 for the three months ended<br>December 31, 2024, September 30, 2024 and December 31, 2023, respectively and ₹ (766) and ₹ (2,174) for the nine months ended December 31, 2024, December 31, 2023, respectively, and ₹ (2,072)<br>for the year ended March 31, 2024.
--- ---
7. Buyback of equity shares
--- ---

During the nine months ended December 31, 2023, the Company concluded the buyback of 269,662,921 equity shares (at a price of ₹ 445 per equity share) as approved by the Board of Directors on April 27, 2023. This has resulted in a total cash outflow of ₹ 145,173 (including tax on buyback of ₹ 24,783 and transaction costs related to buyback of ₹ 390). In line with the requirement of the Companies Act, 2013, an amount of ₹ 3,768 and ₹ 141,405 has been utilized from share premium and retained earnings respectively. Further, capital redemption reserve (included in other reserves) of ₹ 539 (representing the nominal value of the shares bought back) has been created as an apportionment from retained earnings. Consequent to such buyback, the paid-up equity share capital has reduced by ₹ 539.

Earnings per share for each of the three months ended December 31, 2023, September 30, 2023 and June 30, 2023 will not add up to earnings per share for the nine months ended December 31, 2023, on account of buyback of equity shares.

40

8. Issue of bonus shares

The bonus issue in the ratio of 1:1 i.e.1 (one) bonus equity share of ₹ 2 each for every 1 (one) fully paid-up equity shares held (including ADS holders) was approved by the shareholders of the Company on November 21, 2024. Subsequently, on December 4, 2024, the Company allotted 5,232,094,402 equity shares (including ADS) to shareholders who held equity shares as on the record date of December 3, 2024. The Company also allotted 1:1 bonus equity share on 1,274,805 equity shares (including ADS) under allotment as on the record date. Consequently, ₹ 10,467 (representing par value of ₹ 2 per share) was transferred from capital redemption reserves, securities premium and retained earnings to the share capital.

Earnings per share for all prior periods have been proportionately adjusted for the bonus issue in the ratio of 1:1 i.e. 1 (one) bonus equity share of ₹ 2 each for every 1 (one) fully paid-up equity shares held (including ADS holders).

9. Events after the reporting period

The Board of Directors in their meeting held on January 17, 2025, declared an interim dividend of ₹ XXX /- (USD XXX) per equity share and ADR (XXX% on an equity share of par value of ₹ 2 /-).

By order of the Board, For, Wipro Limited
Place: Bengaluru<br> <br>Date: January 17,<br>2025 Rishad A. Premji<br><br><br>Chairman

41

EX-99.4

Exhibit 99.4

WIPRO LIMITED

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

Website:www.wipro.com ; Email id – [email protected] ; Tel: +91-80-2844 0011 ; Fax: +91-80-28440054

STATUTORILY AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED DECEMBER 31, 2024

UNDER IFRS (IASB)

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

Three months ended Nine months ended Year ended
Particulars December 31,2024 September 30,2024 December 31,2023 December 31,2024 December 31,2023 March 31,2024
Income
a) Revenue from operations 223,188 223,016 222,051 665,842 675,520 897,603
b) Foreign exchange gains/(losses), net 410 (396 ) 262 (192 ) 468 340
I Total income **** 223,598 **** 222,620 **** 222,313 **** 665,650 **** 675,988 **** 897,943
Expenses
a) Purchases of<br>stock-in-trade 459 1,034 1,453 2,157 3,007 3,832
b) Changes in inventories of<br>stock-in-trade 318 (152 ) (616 ) 164 122 278
c) Employee benefits expense 133,035 134,695 134,234 400,023 413,046 549,301
d) Depreciation, amortization and impairment expense 6,765 8,308 9,316 22,362 25,666 34,071
e) Sub-contracting and technical fees 25,903 24,582 25,780 75,252 78,712 103,030
f) Facility expenses 3,884 3,937 3,562 11,954 10,829 14,556
g) Travel 3,164 3,836 3,529 10,937 11,753 15,102
h) Communication 871 1,079 1,313 2,943 3,922 4,878
i) Legal and professional fees 2,842 3,013 2,477 8,137 7,235 9,559
j) Software license expense for internal use 5,080 4,702 4,675 14,387 13,983 18,378
k) Marketing and brand building 1,032 838 1,031 2,674 2,888 3,555
l) Lifetime expected credit loss/ (write-back) (608 ) 593 (166 ) (41 ) 273 640
m) (Gain)/loss on sale of property, plant and equipment, net 77 (820 ) 68 (766 ) (2,174 ) (2,072 )
n) Other expenses 1,810 (174 ) 2,792 3,283 6,000 6,736
II Total expenses **** 184,632 **** 185,471 **** 189,448 **** 553,466 **** 575,262 **** 761,844
III Finance expenses 4,146 3,569 3,125 11,003 9,244 12,552
IV Finance and other income 9,708 9,195 5,785 26,383 17,137 23,896
V Share of net profit/ (loss) of associate and joint venture accounted for using the equity method 5 3 (4 ) (37 ) (31 ) (233 )
VI Profit before tax [I-II-III+IV+V] **** 44,533 **** 42,778 **** 35,521 **** 127,527 **** 108,588 **** 147,210
VII Tax expense 10,866 10,512 8,515 31,228 26,049 36,089
VIII Profit for the period [VI-VII] **** 33,667 **** 32,266 **** 27,006 **** 96,299 **** 82,539 **** 111,121
Other comprehensive income (OCI)
Items that will not be reclassified to profit or loss in subsequent periods
Remeasurements of the defined benefit plans, net (231 ) 323 253 150 259 82
Net change in fair value of investment in equity instruments measured at fair value through OCI (367 ) 153 141 (533 ) 33 (473 )
Items that will be reclassified to profit or loss in subsequent periods
Foreign currency translation differences 1,853 5,115 3,601 5,569 5,063 4,219
Reclassification of foreign currency translation differences on liquidation of subsidiaries to statement of<br>income 1 13 (15 ) 14 (196 ) (198 )
Net change in time value of option contracts designated as cash flow hedges, net of taxes 269 (368 ) (324 ) (95 ) (73 ) 198
Net change in intrinsic value of option contracts designated as cash flow hedges, net of taxes (171 ) (103 ) (88 ) (189 ) 113 128
Net change in fair value of forward contracts designated as cash flow hedges, net of taxes (1,100 ) (673 ) (286 ) (1,555 ) 1,300 1,655
Net change in fair value of investment in debt instruments measured at fair value through OCI, net of taxes 37 390 (81 ) 611 1,255 1,516

1

IX Total other comprehensive income for the period, net of taxes 4,850 3,201 3,972 7,754 7,127
Total comprehensive income for the period [VIII+IX] 37,116 30,207 100,271 90,293 118,248
X Profit for the period attributable to:
Equity holders of the Company 32,088 26,942 95,658 82,106 110,452
Non-controlling interests 178 64 641 433 669
32,266 27,006 96,299 82,539 111,121
Total comprehensive income for the period attributable to:
Equity holders of the Company 36,942 30,154 99,590 89,963 117,744
Non-controlling interests 174 53 681 330 504
37,116 30,207 100,271 90,293 118,248
XI Paid up equity share capital (Par value 2 per share) 10,463 10,448 20,938 10,448 10,450
XII Reserves excluding revaluation reserves and Non-controlling interests as per balance sheet 739,433
XIII Earnings per share (EPS)
(Equity shares of par value of 2/- each) (EPS for the three and nine months ended periods are not annualized)
Basic (in ) 3.07 2.58 9.15 7.73 10.44
Diluted (in ) 3.06 2.58 9.13 7.71 10.41

All values are in Indian Rupees.

1. The audited consolidated financial results of the Company for the three and nine months ended<br>December 31, 2024, have been approved by the Board of Directors of the Company at its meeting held on January 17, 2025. The Company confirms that its statutory auditors, Deloitte Haskins & Sells LLP have issued an audit report<br>with unmodified opinion on the consolidated financial results.
2. The above consolidated financial results have been prepared on the basis of the audited interim<br>condensed consolidated financial statements which are prepared in accordance with International Financial Reporting Standards and its interpretations (“IFRS”), as issued by the International Accounting Standards Board (“IASB”).<br>All amounts included in the consolidated financial results (including notes) are reported in millions of Indian rupees (₹ in millions) except share and per share<br>data, unless otherwise stated.
--- ---
3. (Gain)/loss on sale of property, plant and equipment for the three months ended September 30, 2024<br>and nine months ended December 31, 2024, includes gain on relinquishment of the lease hold rights of land, and transfer of building along with other assets of<br>₹ (885), and for the nine months ended December 31, 2023 and year ended March 31, 2024 includes gain on sale of immovable properties of ₹ (2,357).
--- ---
4. Other expenses are net of reversals of contingent consideration of ₹ Nil, ₹ 167, ₹ 2 for<br>the three months ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively, ₹ 167 and ₹ 508 for the nine months ended December 31, 2024 and 2023, respectively and ₹ 1,300 for the year ended<br>March 31, 2024. Other expenses are net of insurance claim received of ₹ Nil,<br>₹ 1,805, ₹ Nil for the three months ended December 31, 2024,<br>September 30, 2024 and December 31, 2023, respectively, ₹ 1,805 and<br>₹ Nil for the nine months ended December 31, 2024 and 2023, respectively and<br>₹ Nil for the year ended March 31, 2024.
--- ---
5. List of subsidiaries, associate and joint venture as at December 31, 2024 are provided in the tablebelow:
--- ---
Subsidiaries Subsidiaries Subsidiaries Country ofIncorporation
--- --- --- ---
Attune Consulting India Private Limited India
Capco Technologies Private Limited India
Wipro Technology Product Services Private Limited India
Wipro Chengdu Limited China
Wipro Holdings (UK) Limited U.K.
Wipro HR Services India Private Limited India
Wipro IT Services Bangladesh Limited Bangladesh

2

Wipro IT Services UK Societas U.K.
Designit A/S Denmark
Designit Denmark A/S Denmark
Designit Germany GmbH Germany
Designit Oslo A/S Norway
Designit Spain Digital, S.L.U Spain
Designit Sweden AB Sweden
Designit T.L.V Ltd. Israel
Wipro Bahrain Limited Co. W.L.L Bahrain
Wipro Czech Republic IT Services s.r.o. Czech Republic
Wipro CRM Services (formerly known as Wipro 4C NV) Belgium
Wipro 4C Consulting France SAS France
Wipro CRM Services B.V. (formerly known as Wipro 4C Nederland B.V) Netherlands
Wipro CRM Services ApS Denmark
Wipro CRM Services UK Limited U.K.
Grove Holdings 2 S.á.r.l Luxembourg
Capco Solution Services GmbH Germany
The Capital Markets Company Italy Srl Italy
Capco Brasil Serviços E Consultoria Ltda Brazil
The Capital Markets Company BV^(1)^ Belgium
Capco Consulting Middle East FZE^(4)^ UAE
PT. WT Indonesia Indonesia
Rainbow Software LLC Iraq
Wipro Arabia Limited^(2)^ Saudi Arabia
Women’s Business Park Technologies Limited^(2)^ Saudi Arabia
Wipro Doha LLC Qatar
Wipro Financial Outsourcing Services Limited U.K.
Wipro UK Limited U.K.
Wipro Gulf LLC Sultanate of Oman
Wipro Holdings Hungary Korlátolt Felelősségű Társaság Hungary
Wipro Holdings Investment Korlátolt Felelősségű Társaság Hungary
Wipro Information Technology Netherlands BV. Netherlands
Wipro do Brasil Technologia Ltda^(1)^ Brazil
Wipro Information Technology Kazakhstan LLP Kazakhstan
Wipro Outsourcing Services (Ireland) Limited Ireland
Wipro Portugal S.A.^(1)^ Portugal
Wipro Solutions Canada Limited Canada
Wipro Technologies Limited Russia
Wipro Technologies Peru SAC Peru
Wipro Technologies W.T. Sociedad Anonima Costa Rica
Wipro Technology Chile SPA Chile
Applied Value Technologies B.V.^(5)^ Netherlands
Wipro IT Service Ukraine, LLC Ukraine
Wipro IT Services Poland SP Z.O.O Poland
Wipro IT Services S.R.L. Romania
Wipro Regional Headquarter Saudi Arabia
Wipro Technologies Australia Pty Ltd Australia
Wipro Ampion Holdings Pty Ltd^(1)^ Australia
Wipro Technologies SA Argentina
Wipro Technologies SA DE CV Mexico
Wipro Technologies South Africa (Proprietary) Limited South Africa
Wipro Technologies Nigeria Limited Nigeria
Wipro Technologies SRL Romania
Wipro (Thailand) Co. Limited Thailand
Wipro Japan KK Japan
Wipro Networks Pte Limited Singapore
Wipro (Dalian) Limited China
Wipro Technologies SDN BHD Malaysia

3

Wipro Overseas IT Services Private Limited India
Wipro Philippines, Inc. Philippines
Wipro Shanghai Limited China
Wipro Trademarks Holding Limited India
Wipro Travel Services Limited India
Wipro VLSI Design Services India Private Limited India
Wipro, LLC USA
Wipro Gallagher Solutions, LLC USA
Wipro Insurance Solutions, LLC USA
Wipro IT Services, LLC USA
Aggne Global Inc.^(3)^ USA
Cardinal US Holdings, Inc.^(1)^ USA
Edgile, LLC USA
HealthPlan Services, Inc.^(1)^ USA
Infocrossing, LLC USA
International TechneGroup Incorporated^(1)^ USA
Wipro NextGen Enterprise Inc.^(1)^ USA
Rizing Intermediate Holdings, Inc.^(1)^ USA
Wipro Appirio, Inc.^(1)^ USA
Wipro Designit Services, Inc.^(1)^ USA
Wipro Telecom Consulting LLC USA
Wipro VLSI Design Services, LLC USA
Applied Value Technologies, Inc.^(6)^ USA
Aggne Global IT Services Private Limited^(3)^ India
Wipro, Inc.^(7)^ USA
Wipro Life Science Solutions, LLC^(8)^ USA

The Company controls ‘The Wipro SA Broad Based Ownership Scheme Trust’, ‘Wipro SA Broad Based Ownership Scheme SPV (RF) (PTY) LTD’ incorporated in South Africa and Wipro Foundation in India. All the above direct subsidiaries are 100% held by the Company except as mentioned in footnote (2) and (3) below.

^(2)^ Wipro IT Services UK Societas holds 66.67% of the equity securities of Wipro Arabia Limited. Wipro Arabia<br>Limited holds 55% of the equity securities of Women’s Business Park Technologies Limited.
^(3)^ The Company holds 60% of the equity securities of Aggne Global IT Services Private Limited and Wipro IT<br>Services, LLC holds 60% of the equity securities of Aggne Global Inc.
--- ---
^(4)^ Capco Consulting Middle East FZE has been incorporated with effect from December 17, 2024 which is 100%<br>held by Grove Holdings 2 S.á.r.l.
--- ---
^(5)^ Wipro Information Technology Netherlands BV. has acquired 100% of the equity securities of Applied Value<br>Technologies B.V.
--- ---
^(6)^ Wipro IT Services, LLC has acquired 100% of the equity securities of Applied Value Technologies, Inc.<br>
--- ---
^(7)^ Wipro, Inc. has been incorporated as a wholly-owned subsidiary of the Company with the effect from<br>September 30, 2024.
--- ---
^(8)^ Wipro Life Science Solutions, LLC has been incorporated as a wholly-owned subsidiary of Wipro, Inc. with effect<br>from October 10, 2024.
--- ---
^(1)^ Step Subsidiary details of Cardinal US Holdings, Inc., HealthPlan Services, Inc., International TechneGroup<br>Incorporated, Wipro NextGen Enterprise Inc., Rizing Intermediate Holdings, Inc., The Capital Markets Company BV, Wipro Ampion Holdings Pty Ltd, Wipro Appirio, Inc., Wipro Designit Services, Inc., Wipro do Brasil Technologia Ltda and Wipro Portugal<br>S.A. are as follows:
--- ---
Subsidiaries Subsidiaries Subsidiaries Country ofIncorporation
--- --- --- ---
Cardinal US Holdings, Inc. USA
Capco Consulting Services LLC USA
Capco RISC Consulting LLC USA
The Capital Markets Company LLC USA

4

HealthPlan Services, Inc. USA
HealthPlan Services Insurance Agency, LLC USA
International TechneGroup Incorporated USA
International TechneGroup Ltd. U.K.
ITI Proficiency Ltd Israel
MechWorks S.R.L. Italy
Wipro NextGen Enterprise Inc. USA
LeanSwift AB Sweden
Rizing Intermediate Holdings, Inc. USA
Rizing Lanka (Private) Ltd Sri Lanka
Attune Netherlands B.V.^(9)^ Netherlands
Rizing Solutions Canada Inc. Canada
Rizing LLC USA
Aasonn Philippines Inc. Philippines
Rizing B.V. Netherlands
Rizing Consulting Ireland Limited Ireland
Rizing Consulting Pty Ltd. Australia
Rizing Geospatial LLC USA
Rizing GmbH Germany
Rizing Limited U.K.
Rizing Pte Ltd.^(9)^ Singapore
The Capital Markets Company BV Belgium
CapAfric Consulting (Pty) Ltd South Africa
Capco Belgium BV Belgium
Capco Consultancy (Malaysia) Sdn. Bhd Malaysia
Capco Consultancy (Thailand) Ltd Thailand
Capco Consulting Singapore Pte. Ltd Singapore
Capco Greece Single Member P.C Greece
Capco Poland sp. z.o.o Poland
The Capital Markets Company (UK) Ltd U.K.
Capco (UK) 1, Limited U.K.
The Capital Markets Company GmbH Germany
Capco Austria GmbH Austria
The Capital Markets Company Limited Hong Kong
The Capital Markets Company Limited Canada
The Capital Markets Company S.á.r.l Switzerland
Andrion AG Switzerland
The Capital Markets Company S.A.S France
The Capital Markets Company s.r.o Slovakia
Wipro Ampion Holdings Pty Ltd Australia
Wipro Revolution IT Pty Ltd Australia
Crowdsprint Pty Ltd Australia
Wipro Shelde Australia Pty Ltd Australia
Wipro Appirio, Inc. USA
Wipro Appirio (Ireland) Limited Ireland
Wipro Appirio UK Limited U.K.
Topcoder, LLC. USA
Wipro Designit Services, Inc. USA
Wipro Designit Services Limited Ireland
Wipro do Brasil Technologia Ltda Brazil
Wipro do Brasil Servicos Ltda Brazil
Wipro Do Brasil Sistemas De Informatica Ltda Brazil
Wipro Portugal S.A. Portugal
Wipro Technologies GmbH Germany
Wipro Business Solutions GmbH^(9)^ Germany
Wipro IT Services Austria GmbH Austria

5

^(9)^ Step Subsidiary details of Attune Netherlands B.V., Rizing Pte Ltd., Wipro Business Solutions GmbH are as<br>follows:
Subsidiaries Subsidiaries Subsidiaries Country ofIncorporation
--- --- --- ---
Attune Netherlands B.V. Netherlands
Rizing Consulting USA, Inc. USA
Rizing Germany GmbH Germany
Attune Italia S.R.L Italy
Attune UK Ltd. U.K.
Rizing Pte Ltd. Singapore
Rizing New Zealand Ltd. New Zealand
Rizing Philippines Inc. Philippines
Rizing SDN BHD Malaysia
Rizing Solutions Pty Ltd Australia
Wipro Business Solutions GmbH Germany
Wipro Technology Solutions S.R.L Romania

As at December 31, 2024, the Company held 43.7% interest in Drivestream Inc. and 27% interest in SDVerse LLC, accounted for using the equity method.

The list of controlled trusts are:

Name of the entity Country of incorporation
Wipro Equity Reward Trust India
Wipro Foundation India
6. Segment Information
--- ---

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

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

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

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

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

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

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

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

6

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

Particulars Three months ended Nine months ended Year ended
December 31,2024 September 30,2024 December 31,2023 December 31,2024 December 31,2023 March 31,2024
Audited Audited Audited Audited Audited Audited
Segment revenue
IT Services
Americas 1 72,010 68,393 68,581 208,103 201,001 268,230
Americas 2 68,120 67,932 66,541 203,390 201,758 269,482
Europe 59,282 61,821 61,473 181,525 192,583 253,927
APMEA 23,439 23,811 24,913 70,753 77,678 102,177
Total of IT Services **** 222,851 **** 221,957 **** 221,508 **** 663,771 **** 673,020 **** 893,816
IT Products 747 663 805 1,879 2,968 4,127
Total segment revenue **** 223,598 **** 222,620 **** 222,313 **** 665,650 **** 675,988 **** 897,943
Segment result
IT Services
Americas 1 14,966 13,338 16,459 41,991 45,283 59,364
Americas 2 15,275 15,005 15,180 45,813 43,372 59,163
Europe 7,600 7,821 7,906 21,294 25,421 33,354
APMEA 3,667 3,070 3,433 9,178 9,218 12,619
Unallocated (2,518 ) (1,912 ) (7,552 ) (5,907 ) (15,293 ) (20,304 )
Total of IT Services **** 38,990 **** 37,322 **** 35,426 **** 112,369 **** 108,001 **** 144,196
IT Products 29 (183 ) 114 (201 ) (514 ) (371 )
Reconciling Items (53 ) 10 (2,675 ) 16 (6,761 ) (7,726 )
Total segment result **** 38,966 **** 37,149 **** 32,865 **** 112,184 **** 100,726 **** 136,099
Finance expenses (4,146 ) (3,569 ) (3,125 ) (11,003 ) (9,244 ) (12,552 )
Finance and other income 9,708 9,195 5,785 26,383 17,137 23,896
Share of net profit/ (loss) of associate and joint venture accounted for using the equity<br>method 5 3 (4 ) (37 ) (31 ) (233 )
Profit before tax **** 44,533 **** 42,778 **** 35,521 **** 127,527 **** 108,588 **** 147,210

Notes:

a) “Reconciling Items” includes elimination of inter-segment transactions and other corporate<br>activities.
b) Revenue from sale of Company owned intellectual properties is reported as part of IT Services revenues.<br>
--- ---
c) For the purpose of segment reporting, the Company has included the net impact of foreign exchange<br>gains/(losses), net in revenues amounting to ₹ 410, ₹ (396), and ₹ 262 for the three months ended December 31, 2024, September 30, 2024 and December 31, 2023 respectively, ₹ (192), and ₹ 468 for the nine months ended December 31, 2024, December 31, 2023, respectively and ₹ 340 for the year ended March 31, 2024, which is reported under foreign exchange gains/(losses), net in the consolidated financial results.
--- ---
d) Restructuring cost of<br>₹ 2,678 and ₹ 6,814 for the three and nine months ended December 31,<br>2023 respectively, and ₹ 6,814 for the year ended March 31, 2024, is included under Reconciling Items.
--- ---
e) Reconciling Items for the year ended March 31, 2024 includes employee costs of<br>₹ 921 towards outgoing CEO and Managing Director.
--- ---
f) “Unallocated” within IT Services segment results is after recognition of amortization and impairment<br>expense on intangible assets of ₹ 1,577, ₹ 2,919, ₹ 3,893, ₹ 6,278,<br>₹ 9,187 and ₹ 11,756 for the three months ended December 31, 2024,<br>September 30, 2024, December 31, 2023, nine months ended December 31, 2024, December 31, 2023 and year ended March 31, 2024 respectively and change in fair value of contingent consideration of ₹ Nil, ₹ (167), ₹ (2), ₹ (167), ₹ (508) and<br>₹ (1,300) for the three months ended December 31, 2024, September 30, 2024, December 31, 2023, nine months ended December 31, 2024,<br>December 31, 2023 and year ended March 31, 2024 respectively.
--- ---

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

g) Segment results of IT Services segment are after recognition of share-based compensation expense ₹ 1,712, ₹ 1,306 and<br>₹ 1,190 for the three months ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively and ₹ 4,347 and ₹ 4,297 for the nine months ended December 31, 2024, December 31, 2023, respectively, and<br>₹ 5,590 for the year ended March 31, 2024.
h) Segment results of IT Services segment are after recognition of (gain)/loss on sale of property, plant and<br>equipment of ₹ 77, (820) and ₹ 68 for the three months ended<br>December 31, 2024, September 30, 2024 and December 31, 2023, respectively, ₹ (766) and<br>₹ (2,174) for the nine months ended December 31, 2024, December 31, 2023, respectively and<br>₹ (2,072) for the year ended March 31, 2024.
--- ---

7

7. Buyback of equity shares

During the nine months ended December 31, 2023, the Company concluded the buyback of 269,662,921 equity shares (at a price of ₹ 445 per equity share) as approved by the Board of Directors on April 27, 2023. This has resulted in a total cash outflow of ₹ 145,173 (including tax on buyback of ₹ 24,783 and transaction costs related to buyback of ₹ 390). In line with the requirement of the Companies Act, 2013, an amount of ₹ 3,768 and ₹ 141,405 has been utilized from share premium and retained earnings respectively. Further, capital redemption reserve (included in other reserves) of ₹ 539 (representing the nominal value of the shares bought back) has been created as an apportionment from retained earnings. Consequent to such buyback, the paid-up equity share capital has reduced by ₹ 539.

Earnings per share for each of the three months ended December 31, 2023, September 30, 2023 and June 30, 2023 will not add up to earnings per share for the nine months ended December 31, 2023, on account of buyback of equity shares.

8. Issue of bonus shares

The bonus issue in the ratio of 1:1 i.e.1 (one) bonus equity share of ₹ 2 each for every 1 (one) fully paid-up equity shares held (including ADS holders) was approved by the shareholders of the Company on November 21, 2024. Subsequently, on December 4, 2024, the Company allotted 5,232,094,402 equity shares (including ADS) to shareholders who held equity shares as on the record date of December 3, 2024. The Company also allotted 1:1 bonus equity share on 1,274,805 equity shares (including ADS) under allotment as on the record date. Consequently, ₹ 10,467 (representing par value of ₹ 2 per share) was transferred from capital redemption reserves, securities premium and retained earnings to the share capital.

Earnings per share for all prior periods have been proportionately adjusted for the bonus issue in the ratio of 1:1 i.e. 1 (one) bonus equity share of ₹ 2 each for every 1 (one) fully paid-up equity shares held (including ADS holders).

9. Events after the reporting period

The Board of Directors in their meeting held on January 17, 2025, declared an interim dividend of ₹ 6 /- (USD 0.07) per equity share and ADR (300% on an equity share of par value of ₹ 2 /-).

By order of the Board, For, Wipro Limited
Place: Bengaluru<br> <br>Date: January 17,<br>2025 Rishad A. Premji<br><br><br>Chairman

8

EX-99.5

Exhibit 99.5

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Wipro Limited Highlights for the Quarter ended December 31, 2024 REVENUE QoQ Constant YoY Constant Operating $2.63 Bn Currency Currency Margin 0.1% 0.7% 17.5% STRATEGIC MARKET UNITS MIX 32.3% AMERICAS 1 30.6% AMERICAS 2 26.7% EUROPE 10.4% APMEA SECTOR MIX 34.1% 19.0% 16.9% 15.3% 14.7% Banking, Consumer Technology & Energy, Health Financial Communications Manufacturing Services & Resources & Insurance TOTAL $3.5 Bn Operating EPS ₹ 3.21 Cash Flow $576.4 Mn BOOKINGS 7.3% YoY CC 4.6% QoQ Operating LARGE DEAL $0.96 Bn cash 146.5% TCV 24.4% YoY Flow/Net 6.0% YoY CC Income Revenue from our IT Services business segment to be in the range of $2,602 million to OUTLOOK $2,655 million*. This translates to a sequential guidance of (-) 1.0% to + 1.0% in constant currency terms. for the Quarter ending * Outlook for the Quarter ending March 31, 2025, is based on the following exchange rates: GBP/USD at 1.27, Euro/USD at 1.06, March 31, 2025 AUD/USD at 0.65, USD/INR at 84.29 and CAD/USD at 0.71 CUSTOMER CONCENTRATION TOP1 4.5% 14.3% TOP 10 23.7% TOP 5 TOTAL HEADCOUNT 232,732 ATTRITION VOL – TTM 15.3% OFFSHORE REVENUE NET UTILIZATION 83.5% 60.8% PERCENTAGE OF SERVICES EXCLUDING TRAINEES P a g e 1

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Wipro Limited Results for the Quarter ended December 31, 2024 FY 24-25 FY 23–24 A IT Services Q3 Q2 Q1 FY Q4 Q3 Q2 IT Services Revenues ($Mn) 2,629.1 2,660.1 2625.9 10,805.3 2,657.4 2,656.1 2,713.3 Sequential Growth -1.2% 1.3% -1.2% -3.8% 0.1% -2.1% -2.3% Sequential Growth in Constant Currency Note 1 0.1% 0.6% -1.0% -4.4% -0.3% -1.7% -2.0% Operating Margin % Note 2 17.5% 16.8% 16.5% 16.1% 16.4% 16.0% 16.1% Strategic Market Units Mix Americas 1 32.3% 30.8% 30.9% 30.0% 30.4% 31.0% 29.8% Americas 2 30.6% 30.6% 30.8% 30.1% 30.7% 30.0% 29.9% Europe 26.7% 27.9% 27.6% 28.4% 27.8% 27.7% 28.6% APMEA 10.4% 10.7% 10.7% 11.5% 11.1% 11.3% 11.7% Sectors Mix Banking, Financial Services and Insurance 34.1% 34.8% 34.0% 33.4% 33.5% 32.7% 33.6% Consumer 19.0% 19.2% 19.2% 18.8% 18.7% 18.8% 18.7% Energy, Manufacturing & Resources Note3 16.9% 17.0% 17.6% 18.7% 18.5% 18.5% 18.6% Technology and Communications 15.3% 15.4% 15.3% 15.9% 15.2% 16.1% 16.4% Health 14.7% 13.6% 13.9% 13.2% 14.1% 13.9% 12.7% Total Bookings Total Bookings TCV ($Mn) Note 4 3,514 3,561 3,284 14,907 3,607 3,791 3,785 Large deal TCV ($Mn) Note 5 961 1,489 1,154 4,573 1,191 909 1,275 Guidance ($Mn) 2,607—2,660 2,600—2,652 2,617-2,670—2,615–2,669 2,617-2,672 2,722-2,805 Guidance restated based on 2,575 – 2,628 2,618 – 2,670 2,612-2,665—2,624–2,678 2,605-2,659 2,712-2,795 actual currency realized ($Mn) Revenues performance against guidance ($Mn) 2,629 2,660 2,626—2,657 2,656 2,713 P a g e 2 Public

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FY 24-25 FY 23–24 Q3 Q2 Q1 FY Q4 Q3 Q2 Customer size distribution (TTM) > $100Mn 18 21 22 22 22 22 22 > $75Mn 30 30 29 32 32 31 28 > $50Mn 42 42 43 45 45 46 51 > $20Mn 114 117 117 116 116 121 122 > $10Mn 187 186 192 205 205 203 207 > $5Mn 290 297 301 301 301 305 313 > $3Mn 403 411 407 409 409 430 437 > $1Mn 722 733 735 741 741 750 774 Revenue from Existing customers % 98.8% 99.4% 99.7% 98.9% 97.8% 98.8% 99.1% Number of new customers 63 28 43 229 60 55 49 Total Number of active customers 1,299 1,342 1,364 1,371 1,371 1,349 1,393 Customer Concentration Top customer 4.5% 4.1% 4.0% 3.0% 3.8% 3.0% 3.0% Top 5 14.3% 14.0% 13.6% 13.0% 13.4% 12.1% 12.3% Top 10 23.7% 22.9% 22.5% 21.4% 22.0% 20.5% 20.6% % of Revenue USD 62% 61% 61% 60% 60% 61% 60% GBP 10% 11% 11% 11% 11% 10% 11% EUR 10% 10% 10% 10% 10% 10% 10% INR 4% 4% 4% 5% 5% 5% 5% AUD 4% 4% 4% 4% 4% 4% 4% CAD 3% 3% 3% 3% 3% 3% 3% Others 7% 7% 7% 7% 7% 7% 7% Closing Employee Count 232,732 233,889 232,911 232,614 232,614 239,655 244,707 Sales & Support Staff (IT Services) 15,311 15,336 15,539 15,601 15,601 15,833 16,778 Utilization Note 6 Net Utilization (Excluding Trainees) 83.5% 86.4% 87.7% 84.8% 86.9% 84.0% 84.5% Attrition Voluntary TTM (IT Services excl. DOP) 15.3% 14.5% 14.1% 14.2% 14.2% 14.2% 15.5% DOP % — Post Training Quarterly 7.1% 7.9% 8.3% 9.1% 8.9% 8.3% 9.8% P a g e 3

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FY 24-25 FY 23–24 B Q3 Q2 Q1 FY Q4 Q3 Q2 Revenue Mix Note 6 Revenue from FPP 56.7% 56.7% 57.6% 59.2% 58.9% 59.9% 58.4% Offshore Revenue — % of Services 60.8% 59.8% 57.9% 59.9% 60.4% 59.8% 59.9% Growth Metrics Note 1 C Q3’25 Q3’25 Q3’25 Q3’25 Reported Reported Constant Constant QoQ% YoY% QoQ% YoY% IT Services -1.2% -1.0% 0.1% -0.7% Strategic Market Units Americas 1 3.6% 3.3% 3.9% 3.7% Americas 2 -1.2% 0.8% -0.6% 1.2% Europe -5.4% -4.9% -2.7% -4.6% APMEA -3.8% -8.0% -2.1% -8.0% Sectors Banking, Financial Services and Insurance -3.0% 3.4% -1.9% 3.4% Consumer -2.0% 0.0% -0.9% 0.4% Energy, Manufacturing and Resources Note 3 -1.5% -9.3% 0.4% -8.7% Technology and Communications -2.3% -6.3% -0.6% -5.3% Health 6.5% 4.4% 6.7% 4.5% D Annexure to Datasheet Break-up of Energy, Manufacturing and Resources Note 3 Energy, Natural Resources and Utilities -3.0% -11.3% -0.9% -10.8% Manufacturing 1.0% -5.8% 2.5% -5.1% Segment-wise breakup of Q3 FY24-25 (INR Mn) Cost of Revenues, S&M and G&A Particulars IT Services IT Products Reconciling Items Total Cost of revenues 153,285 635 2 153,922 Selling and marketing expenses 16,002 71 8 16,081 General and administrative expenses 14,574 12 43 14,629 Total 183,861 718 53 184,632 Note 1: Constant currency (CC) for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period Note 2: IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials Note 3: Effective Q3’25 , we have merged Energy, Natural resources and Utilities and Manufacturing sectors for our external reporting. For the current quarter we are sharing the split of Energy, Natural resources and Utilities and Manufacturing sectors as part of annexure. Note 4: Total Bookings refers to the total contract value of all orders that were booked during the period including new orders, renewals, and changes to existing contracts. Bookings do not reflect subsequent terminations or reductions related to bookings originally recorded in prior fiscal periods. Bookings are recorded using then-existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations. The revenues from these contracts accrue over the tenure of the contract. For constant currency growth rates, refer note 1 Note 5: Large deal bookings constitute of deals greater than or equal to $30 million in total contract value terms Note 6: IT Services excluding DOP (Digital Operations and Platforms) and entities which are not integrated in Wipro limited systems until that quarter. P a g e 4

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