Wipro Ltd 6-K, filed Jul 14, 2023

Wipro Ltd (WIT)

6-K 2023-07-14 For: 2023-07-14

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Wipro Ltd filed this 6-K on July 14, 2023.

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WIPRO LIMITED

By:		/s/ Jatin Pravinchandra Dalal
Jatin Pravinchandra Dalal
Chief Financial Officer


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


Contact for Investor Relations		Contact for Media & Press
Dipak Kumar Bohra	Abhishek Jain
Phone: +91-80-6142 7201	Phone: +91-80-6142 6143	Phone: +91-80-6142 6450
dipak.bohra@wipro.com	abhishek.jain2@wipro.com	media-relations@wipro.com


	As at March 31, 2023		As at June 30, 2023
					Convenience translation into US dollar in millions Refer footnote in page 4
ASSETS
Goodwill		307,970		306,970		3,741
Intangible assets		43,045		41,155		502
Property, plant and equipment		88,659		86,464		1,054
Right-of-Use assets		18,702		18,448		225
Financial assets
Derivative assets		29		193		2
Investments		20,720		20,782		253
Trade receivables		863		861		10
Other financial assets		6,330		6,368		78
Investments accounted for using the equity method		780		782		10
Deferred tax assets		2,100		1,942		24
Non-current tax assets		11,922		12,295		150
Other non-current assets		13,606		13,247		161

Total non-current assets		514,726		509,507		6,210

Inventories		1,188		1,375		17
Financial assets
Derivative assets		1,844		3,297		40
Investments		309,232		351,156		4,279
Cash and cash equivalents		91,880		83,616		1,019
Trade receivables		126,350		114,457		1,395
Unbilled receivables		60,515		64,467		786
Other financial assets		9,096		12,478		152
Contract assets		23,001		25,168		307
Current tax assets		5,091		4,750		58
Other current assets		32,899		30,344		370

Total current assets		661,096		691,108		8,423

TOTAL ASSETS		1,175,822		1,200,615		14,633

EQUITY
Share capital		10,976		10,978		134
Share premium		3,689		4,155		51
Retained earnings		660,964		545,698		6,650
Share-based payment reserve		5,632		6,268		76
Special Economic Zone re-investment reserve		46,803		45,891		559
Other components of equity		53,100		56,039		683

Equity attributable to the equity holders of the Company		781,164		669,029		8,153
Non-controlling interests		589		624		8

TOTAL EQUITY		781,753		669,653		8,161

LIABILITIES
Financial liabilities
Loans and borrowings		61,272		61,197		746
Lease liabilities		15,953		16,079		196
Derivative liabilities		179		45		1
Other financial liabilities		2,649		1,547		19
Deferred tax liabilities		15,153		15,772		192
Non-current tax liabilities		21,777		23,504		286
Other non-current liabilities		9,333		10,151		124
Provisions		^		—		—

Total non-current liabilities		126,316		128,295		1,564

Financial liabilities
Loans, borrowings and bank overdrafts		88,821		88,712		1,081
Lease liabilities		8,620		8,706		106
Derivative liabilities		2,825		1,448		18
Trade payables and accrued expenses		89,054		80,735		984
Other financial liabilities		4,141		123,413		1,504
Contract liabilities		22,682		19,595		239
Current tax liabilities		18,846		20,898		255
Other current liabilities		30,215		56,760		692
Provisions		2,549		2,400		29

Total current liabilities		267,753		402,667		4,908

TOTAL LIABILITIES		394,069		530,962		6,472

TOTAL EQUITY AND LIABILITIES		1,175,822		1,200,615		14,633

^ Value is less than 1


	Three months ended June 30,
	2022			2023			2023
							Convenience translation into US dollar in millions Refer footnote in page 4
Revenues		215,286			228,310			2,782
Cost of revenues		(155,600	)		(161,261	)		(1,965	)

Gross profit		59,686			67,049			817
Selling and marketing expenses		(15,359	)		(16,584	)		(202	)
General and administrative expenses		(13,471	)		(15,887	)		(194	)
Foreign exchange gains/(losses), net		1,034			(62	)		(1	)

Results from operating activities		31,890			34,516			420
Finance expenses		(2,045	)		(3,086	)		(38	)
Finance and other income		3,690			6,542			80
Share of net profit/ (loss) of associates accounted for using the equity method		(15	)		3			^

Profit before tax		33,520			37,975			462
Income tax expense		(7,931	)		(9,115	)		(111	)

Profit for the period		25,589			28,860			351

Profit attributable to:
Equity holders of the Company		25,636			28,701			349
Non-controlling interests		(47	)		159			2

Profit for the period		25,589			28,860			351

Earnings per equity share:
Attributable to equity holders of the Company
Basic		4.69			5.23			0.06
Diluted		4.67			5.12			0.06
Weighted average number of equity shares used in computing earnings per equity share
Basic		5,471,449,783			5,482,733,329			5,482,733,329
Diluted		5,485,057,994			5,600,307,315			5,600,307,315
^ Value is less than 1


	Three months ended									Year ended
Particulars	June 30, 2023			March 31, 2023			June 30, 2022			March 31, 2023
	Audited			Audited			Audited			Audited
Segment revenue
IT Services
Americas 1		65,607			66,430			61,702			261,270
Americas 2		68,303			70,563			66,613			278,374
Europe		67,134			67,562			60,276			256,845
APMEA		26,510			27,207			25,783			106,812

Total of IT Services		227,554			231,762			214,374			903,301
IT Products		694			1,131			1,946			6,047

Total segment revenue		228,248			232,893			216,320			909,348

Segment result
IT Services
Americas 1		13,537			13,445			11,570			51,555
Americas 2		14,169			15,940			13,224			59,689
Europe		9,968			11,024			7,986			37,667
APMEA		2,800			3,030			2,069			10,681
Unallocated		(3,957	)		(5,773	)		(2,844	)		(18,368	)

Total of IT Services		36,517			37,666			32,005			141,224
IT Products		(161	)		(59	)		(55	)		(176	)
Reconciling Items		(1,840	)		(30	)		(60	)		(1,442	)

Total segment result		34,516			37,577			31,890			139,606

Finance expenses		(3,086	)		(2,860	)		(2,045	)		(10,077	)
Finance and Other Income		6,542			5,463			3,690			18,185
Share of net profit/ (loss) of associates accounted for using the equity method		3			4			(15	)		(57	)

Profit before tax		37,975			40,184			33,520			147,657


Three Months ended June 30, 2023

IT Services Revenue as per IFRS	$	2,778.5
Effect of Foreign currency exchange movement	$	(19.5	)

Non-GAAP Constant Currency IT Services Revenue based on previous quarter exchange rates	$	2,759.0


	Amount in INR Mn
	Three months ended June 30, 2023
Net Income for the period [A]		28,860
Computation of Free Cash Flow
Net cash generated from operating activities [B]		37,513
Add/ (deduct) cash inflow/ (outflow) on:
Purchase of property, plant and equipment		(2,209	)
Proceeds from sale of property, plant and equipment		1,030

Free Cash Flow [C]		36,334

Operating Cash Flow as percentage of Net Income [B/A]		130.0	%

Free Cash Flow as percentage of Net Income [C/A]		125.9	%


	Notes		As at March 31, 2023		As at June 30, 2023
							Convenience translation into US dollar in millions (unaudited) Refer to Note 2(iii)
ASSETS
Goodwill		6		307,970		306,970		3,741
Intangible assets		6		43,045		41,155		502
Property, plant and equipment		4		88,659		86,464		1,054
Right-of-Use assets		5		18,702		18,448		225
Financial assets
Derivative assets		17		29		193		2
Investments		8		20,720		20,782		253
Trade receivables				863		861		10
Other financial assets		11		6,330		6,368		78
Investments accounted for using the equity method				780		782		10
Deferred tax assets				2,100		1,942		24
Non-current tax assets				11,922		12,295		150
Other non-current assets		12		13,606		13,247		161

Total non-current assets				514,726		509,507		6,210

Inventories		9		1,188		1,375		17
Financial assets
Derivative assets		17		1,844		3,297		40
Investments		8		309,232		351,156		4,279
Cash and cash equivalents		10		91,880		83,616		1,019
Trade receivables				126,350		114,457		1,395
Unbilled receivables				60,515		64,467		786
Other financial assets		11		9,096		12,478		152
Contract assets				23,001		25,168		307
Current tax assets				5,091		4,750		58
Other current assets		12		32,899		30,344		370

Total current assets				661,096		691,108		8,423

TOTAL ASSETS				1,175,822		1,200,615		14,633

EQUITY
Share capital				10,976		10,978		134
Share premium				3,689		4,155		51
Retained earnings				660,964		545,698		6,650
Share-based payment reserve				5,632		6,268		76
Special Economic Zone re-investment reserve				46,803		45,891		559
Other components of equity				53,100		56,039		683

Equity attributable to the equity holders of the Company				781,164		669,029		8,153
Non-controlling interests				589		624		8

TOTAL EQUITY				781,753		669,653		8,161

LIABILITIES
Financial liabilities
Loans and borrowings		13		61,272		61,197		746
Lease liabilities				15,953		16,079		196
Derivative liabilities		17		179		45		1
Other financial liabilities		14		2,649		1,547		19
Deferred tax liabilities				15,153		15,772		192
Non-current tax liabilities				21,777		23,504		286
Other non-current liabilities		15		9,333		10,151		124
Provisions		16		^		—		—

Total non-current liabilities				126,316		128,295		1,564

Financial liabilities
Loans, borrowings and bank overdrafts		13		88,821		88,712		1,081
Lease liabilities				8,620		8,706		106
Derivative liabilities		17		2,825		1,448		18
Trade payables and accrued expenses				89,054		80,735		984
Other financial liabilities		14		4,141		123,413		1,504
Contract liabilities				22,682		19,595		239
Current tax liabilities				18,846		20,898		255
Other current liabilities		15		30,215		56,760		692
Provisions		16		2,549		2,400		29

Total current liabilities				267,753		402,667		4,908

TOTAL LIABILITIES				394,069		530,962		6,472

TOTAL EQUITY AND LIABILITIES				1,175,822		1,200,615		14,633


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	Thierry Delaporte
Chartered Accountants	Chairman	Director	Chief Executive Officer and
Firm’s Registration No: 117366W/W - 100018			Managing Director

Anand Subramanian	Jatin Pravinchandra Dalal		M. Sanaulla Khan
Partner	Chief Financial Officer		Company Secretary
Membership No.: 110815

Bengaluru July 13, 2023


															Other components of equity
Particulars	Number of shares⁽¹⁾		Share capital, fully paid-up		Share premium		Retained earnings			Share- based payment reserve			Special Economic Zone re- investment reserve		Foreign currency translation reserve⁽²⁾		Cash flow hedging reserve⁽³⁾			Other reserves⁽²⁾			Equity attributable to the equity holders of the Company			Non- controlling interests			Total equity
As at April 1, 2022		5,482,070,115		10,964		1,566		551,252			5,258			47,061		26,850		1,477			13,730			658,158			515			658,673
Adjustment on adoption of amendments to IAS 37		—		—		—		(51	)		—			—		—		—			—			(51	)		—			(51	)

Adjusted balance as at April 1, 2022		5,482,070,115		10,964		1,566		551,201			5,258			47,061		26,850		1,477			13,730			658,107			515			658,622

Comprehensive income for the period
Profit for the period				—		—		25,636			—			—		—		—			—			25,636			(47	)		25,589
Other comprehensive income				—		—		—			—			—		5,607		(1,435	)		(2,457	)		1,715			24			1,739

Total comprehensive income for the period				—		—		25,636			—			—		5,607		(1,435	)		(2,457	)		27,351			(23	)		27,328

Issue of equity shares on exercise of options		276,665		1		92		—			(92	)		—		—		—			—			1			—			1
Issue of shares by controlled trust on exercise of options⁽¹⁾				—		—		186			(186	)		—		—		—			—			—			—			—
Compensation cost related to employee share-based payment				—		—		2			1,430			—		—		—			—			1,432			—			1,432
Transferred to Special Economic Zone re-investment reserve				—		—		(931	)		—			931		—		—			—			—			—			—
Others				—		—		—			—			—		—		—			—			—			(77	)		(77	)

Other transactions for the period		276,665		1		92		(743	)		1,152			931		—		—			—			1,433			(77	)		1,356

As at June 30, 2022		5,482,346,780		10,965		1,658		576,094			6,410			47,992		32,457		42			11,273			686,891			415			687,306


	Land			Buildings			Plant and			Furniture			Office			Vehicles			Total
	Land			Buildings			equipment⁽¹⁾			fixtures			equipment			Vehicles			Total
Gross carrying value:
As at April 1, 2022	₹	4,813		₹	40,686		₹	123,471		₹	15,386		₹	7,259		₹	317		₹	191,932
Additions		—			38			3,720			242			84			1			4,085
Additions through Business																				373
combinations		—			7			357			6			—			3			373
Disposals		(3	)		(7	)		(490	)		(2	)		(6	)		—			(508	)
Translation adjustment		(4	)		(18	)		319			6			(3	)		—			300

As at June 30, 2022	₹	4,806		₹	40,706		₹	127,377		₹	15,638		₹	7,334		₹	321		₹	196,182
Accumulated depreciation/ impairment:
As at April 1, 2022	₹	—		₹	10,003		₹	90,465		₹	10,814		₹	5,743		₹	297		₹	117,322
Depreciation and impairment		—			318			3,390			395			150			2			4,255
Disposals		—			(1	)		(439	)		(1	)		(6	)		—			(447	)
Translation adjustment		—			3			320			9			(3	)		—			329

As at June 30, 2022	₹	—		₹	10,323		₹	93,736		₹	11,217		₹	5,884		₹	299		₹	121,459
Capital work-in-progress																			₹	16,953

Net carrying value including Capital work-in-progress as at June 30, 2022																			₹	91,676

Gross carrying value:
As at April 1, 2022	₹	4,813		₹	40,686		₹	123,471		₹	15,386		₹	7,259		₹	317		₹	191,932
Additions		40			7,269			12,191			3,917			964			7			24,388
Additions through Business combinations		—			7			357			6			—			3			373
Disposals		(3	)		(435	)		(20,016	)		(1,325	)		(474	)		(168	)		(22,421	)
Translation adjustment		10			173			1,729			102			69			2			2,085

As at March 31, 2023	₹	4,860		₹	47,700		₹	117,732		₹	18,086		₹	7,818		₹	161		₹	196,357
Accumulated depreciation/ impairment:
As at April 1, 2022	₹	—		₹	10,003		₹	90,465		₹	10,814		₹	5,743		₹	297		₹	117,322
Depreciation and impairment		—			1,217			13,305			1,794			600			10			16,926
Disposals		—			(395	)		(19,655	)		(1,158	)		(463	)		(163	)		(21,834	)
Translation adjustment		—			102			1,386			70			48			1			1,607

As at March 31, 2023	₹	—		₹	10,927		₹	85,501		₹	11,520		₹	5,928		₹	145		₹	114,021
Capital work-in-progress																			₹	6,323

Net carrying value including Capital work-in-progress as at March 31, 2023																			₹	88,659

Gross carrying value:
As at April 1, 2023	₹	4,860		₹	47,700		₹	117,732		₹	18,086		₹	7,818		₹	161		₹	196,357
Additions		—			97			1,176			446			60			1			1,780
Disposals		—			(1	)		(3,661	)		(38	)		(1	)		—			(3,701	)
Translation adjustment		(1	)		26			(16	)		(6	)		(14	)		1			(10	)

As at June 30, 2023	₹	4,859		₹	47,822		₹	115,231		₹	18,488		₹	7,863		₹	163		₹	194,426
Accumulated depreciation/ impairment:
As at April 1, 2023	₹	—		₹	10,927		₹	85,501		₹	11,520		₹	5,928		₹	145		₹	114,021
Depreciation and impairment		—			358			2,993			532			162			2			4,047
Disposals		—			(1	)		(3,312	)		(26	)		(1	)		—			(3,340	)
Translation adjustment		—			13			(14	)		—			(9	)		1			(9	)

As at June 30, 2023	₹	—		₹	11,297		₹	85,168		₹	12,026		₹	6,080		₹	148		₹	114,719
Capital work-in-progress																			₹	6,757

Net carrying value including Capital work-in-progress as at June 30, 2023																			₹	86,464


	Category of Right-of-Use asset
	Land		Buildings			Plant and equipment⁽¹⁾			Vehicles			Total
Gross carrying value:
As at April 1, 2022	₹	1,278	₹	25,993		₹	2,511		₹	904		₹	30,686
Additions		—		1,433			45			72			1,550
Additions through business combinations		—		201			—			—			201
Disposals		—		(919	)		—			(88	)		(1,007	)
Translation adjustment		—		(23	)		—			(14	)		(37	)

As at June 30, 2022	₹	1,278	₹	26,685		₹	2,556		₹	874		₹	31,393
Accumulated depreciation:
As at April 1, 2022	₹	58	₹	9,676		₹	1,512		₹	570		₹	11,816
Depreciation		5		1,386			125			74			1,590
Disposals		—		(739	)		—			(81	)		(820	)
Translation adjustment		—		17			9			(8	)		18

As at June 30, 2022	₹	63	₹	10,340		₹	1,646		₹	555		₹	12,604

Net carrying value as at June 30, 2022												₹	18,789

Gross carrying value:
As at April 1, 2022	₹	1,278	₹	25,993		₹	2,511		₹	904		₹	30,686
Additions		—		6,015			1,109			236			7,360
Additions through business combinations		—		201			—			—			201
Disposals		—		(5,085	)		(1,160	)		(317	)		(6,562	)
Translation adjustment		—		822			120			42			984

As at March 31, 2023	₹	1,278	₹	27,946		₹	2,580		₹	865		₹	32,669
Accumulated depreciation:
As at April 1, 2022	₹	58	₹	9,676		₹	1,512		₹	570		₹	11,816
Depreciation		19		5,651			614			238			6,522
Disposals		—		(3,564	)		(1,003	)		(263	)		(4,830	)
Translation adjustment		—		364			69			26			459

As at March 31, 2023	₹	77	₹	12,127		₹	1,192		₹	571		₹	13,967

Net carrying value as at March 31, 2023												₹	18,702

Gross carrying value:
As at April 1, 2023	₹	1,278	₹	27,946		₹	2,580		₹	865		₹	32,669
Additions		—		1,520			—			64			1,584
Disposals		—		(934	)		(367	)		(42	)		(1,343	)
Translation adjustment		—		(20	)		6			(3	)		(17	)

As at June 30, 2023	₹	1,278	₹	28,512		₹	2,219		₹	884		₹	32,893
Accumulated depreciation:
As at April 1, 2023	₹	77	₹	12,127		₹	1,192		₹	571		₹	13,967
Depreciation		5		1,361			109			48			1,523
Disposals		—		(706	)		(292	)		(35	)		(1,033	)
Translation adjustment		—		(10	)		—			(2	)		(12	)

As at June 30, 2023	₹	82	₹	12,772		₹	1,009		₹	582		₹	14,445

Net carrying value as at June 30, 2023												₹	18,448


	For the period ended
	March 31, 2023			June 30, 2023
Balance at the beginning of the period	₹	246,989		₹	307,970
Translation adjustment		20,335			(511	)
Acquisition through business combinations⁽¹⁾		40,687			(489	)
Disposals		(41	)		—

Balance at the end of the period	₹	307,970		₹	306,970


	Intangible assets
	Customer-related			Marketing- related			Total
Gross carrying value:
As at April 1, 2022	₹	43,366		₹	11,428		₹	54,794
Acquisition through business combinations		5,480			482			5,962
Deductions/adjustments⁽¹⁾		(38	)		—			(38	)
Translation adjustment		1,522			411			1,933

As at June 30, 2022	₹	50,330		₹	12,321		₹	62,651
Accumulated amortization/ impairment:
As at April 1, 2022	₹	9,483		₹	1,756		₹	11,239
Amortization and impairment		1,455			438			1,893
Translation adjustment		266			54			320

As at June 30, 2022	₹	11,204		₹	2,248		₹	13,452

Net carrying value as at June 30, 2022	₹	39,126		₹	10,073		₹	49,199

Gross carrying value:
As at April 1, 2022	₹	43,366		₹	11,428		₹	54,794
Acquisition through business combinations		5,602			482			6,084
Deductions/adjustments⁽¹⁾		(2,555	)		(862	)		(3,417	)
Translation adjustment		3,400			876			4,276

As at March 31, 2023	₹	49,813		₹	11,924		₹	61,737
Accumulated amortization/ impairment:
As at April 1, 2022	₹	9,483		₹	1,756		₹	11,239
Amortization and impairment⁽²⁾		7,718			2,236			9,954
Deductions/adjustments		(2,519	)		(862	)		(3,381	)
Translation adjustment		735			145			880

As at March 31, 2023	₹	15,417		₹	3,275		₹	18,692

Net carrying value as at March 31, 2023	₹	34,396		₹	8,649		₹	43,045

Gross carrying value:
As at April 1, 2023	₹	49,813		₹	11,924		₹	61,737
Translation adjustment		(98	)		(25	)		(123	)

As at June 30, 2023	₹	49,715		₹	11,899		₹	61,614
Accumulated amortization/ impairment:
As at April 1, 2023	₹	15,417		₹	3,275		₹	18,692
Amortization and impairment		1,420			390			1,810
Translation adjustment		(34	)		(9	)		(43	)

As at June 30, 2023	₹	16,803		₹	3,656		₹	20,459

Net carrying value as at June 30, 2023	₹	32,912		₹	8,243		₹	41,155


Description	Amount
Net assets	₹	4,425
Fair value of customer-related intangibles		3,894
Fair value of marketing-related intangibles		482
Deferred tax liabilities on intangible assets		(1,750	)

Total	₹	7,051
Goodwill		36,794

Total purchase price	₹	43,845

Net Assets include:
Cash and cash equivalents	₹	2,114
Fair value of acquired trade receivables included in net assets	₹	3,220
Gross contractual amount of acquired trade receivables	₹	3,233
Less: Allowance for lifetime expected credit loss		(13	)


	As at
	March 31, 2023		June 30, 2023
Non-current
Financial instruments at FVTPL
Equity instruments	₹	3,773	₹	3,812
Fixed maturity plan mutual funds		1,300		1,324
Financial instruments at FVTOCI
Equity instruments		15,647		15,646
Financial instruments at amortized cost
Inter corporate and term deposits		^		^

	₹	20,720	₹	20,782
Current
Financial instruments at FVTPL
Short-term mutual funds	₹	40,262	₹	157,972
Financial instruments at FVTOCI
Non-convertible debentures, government securities, commercial papers, certificate of deposit and bonds		245,195		160,675
Financial instruments at amortized cost
Inter corporate and term deposits ⁽¹⁾		23,775		32,509

	₹	309,232	₹	351,156

	₹	329,952	₹	371,938


	As at
	June 30, 2022			June 30, 2023
Cash and cash equivalents	₹	82,828		₹	83,616
Bank overdrafts		(2	)		(24	)

	₹	82,826		₹	83,592


	As at
Investment in equity instruments	March 31, 2023			June 30, 2023
Balance at the beginning of the period	₹	16,324		₹	19,321
Additions		2,093			78
Disposals⁽¹⁾		(632	)		(46	)
Unrealized gain/(loss) recognized in statement of income		(2	)		(12	)
Gain recognized in other comprehensive income		291			19
Translation adjustment		1,247			24

Balance at the end of the period	₹	19,321		₹	19,384


	As at
Contingent consideration	March 31, 2023			June 30, 2023
Balance at the beginning of the period	₹	(4,329	)	₹	(3,053	)
Additions		(1,662	)		—
Reversals⁽¹⁾		1,671			16
Payouts		1,784			1,286
Finance expense recognized in statement of income		(131	)		(20	)
Translation adjustment		(386	)		2

Balance at the end of the period	₹	(3,053	)	₹	(1,769	)


	IT Services										IT Products		Total
	Americas 1		Americas 2		Europe		APMEA		Total		IT Products		Total
A. Revenue
Rendering of services	₹	61,440	₹	66,300	₹	59,957	₹	25,643	₹	213,340	₹	—	₹	213,340
Sale of products		—		—		—		—		—		1,946		1,946

	₹	61,440	₹	66,300	₹	59,957	₹	25,643	₹	213,340	₹	1,946	₹	215,286

B. Revenue by sector
Banking, Financial Services and Insurance	₹	1,085	₹	40,988	₹	24,536	₹	9,094	₹	75,703
Health		19,444		42		3,929		884		24,299
Consumer		25,721		896		8,820		4,193		39,630
Communications		3,192		341		3,134		3,883		10,550
Energy, Natural Resources and Utilities		217		9,273		9,304		4,986		23,780
Manufacturing		17		7,843		5,583		904		14,347
Technology		11,764		6,917		4,651		1,699		25,031

	₹	61,440	₹	66,300	₹	59,957	₹	25,643	₹	213,340	₹	1,946	₹	215,286

C. Revenue by nature of contract
Fixed price and volume based	₹	35,884	₹	33,859	₹	33,977	₹	15,224	₹	118,944	₹	—	₹	118,944
Time and materials		25,556		32,441		25,980		10,419		94,396		—		94,396
Products		—		—		—		—		—		1,946		1,946

	₹	61,440	₹	66,300	₹	59,957	₹	25,643	₹	213,340	₹	1,946	₹	215,286


	Three months ended June 30,
	2022		2023
United States of America	₹	120,491	₹	126,497
United Kingdom		26,606	₹	29,763

	₹	147,097	₹	156,260


Subsidiaries	Subsidiaries	Subsidiaries	Country of Incorporation

Attune Consulting India Private Limited			India

Capco Technologies Private Limited			India

Encore Theme Technologies Private Limited			India

Wipro Chengdu Limited			China

Wipro Holdings (UK) Limited			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 4C NV		Belgium
		Wipro 4C Consulting France SAS	France
		Wipro 4C Danmark ApS	Denmark
		Wipro 4C Nederland B.V	Netherlands
		Wipro Weare4C UK Limited⁽¹⁾	U.K.
	Wipro Bahrain Limited Co. W.L.L		Bahrain
	Wipro Financial Outsourcing Services		U.K.
	Limited
		Wipro UK Limited	U.K.
	Wipro Gulf LLC		Sultanate of
			Oman
	Wipro IT Services S.R.L.		Romania

Wipro HR Services India Private Limited			India


Wipro IT Services Bangladesh Limited			Bangladesh

Wipro IT Services UK Societas			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 Em	Brazil
		Informática Ltda
		The Capital Markets Company BV⁽¹⁾	Belgium
	PT. WT Indonesia		Indonesia
	Rainbow Software LLC		Iraq
	Wipro Arabia Limited⁽²⁾		Saudi Arabia
		Women’s Business Park Technologies	Saudi Arabia
		Limited⁽²⁾
	Wipro Doha LLC		Qatar
	Wipro Holdings Hungary Korlátolt		Hungary
	Felelősségű Társaság
		Wipro Holdings Investment Korlátolt	Hungary
		Felelősségű Társaság
	Wipro Information Technology Egypt		Egypt
	SAE
	Wipro Information Technology		Netherlands
	Netherlands BV.
		Wipro do Brasil Technologia Ltda⁽¹⁾	Brazil
		Wipro Information Technology Kazakhstan	Kazakhstan
		LLP
		Wipro Outsourcing Services (Ireland) Limited	Ireland
		Wipro Portugal S.A.⁽¹⁾	Portugal
		Wipro Solutions Canada Limited	Canada
		Wipro Technologies Limited	Russia
		Wipro Technologies Peru SAC	Peru
		Wipro Technologies W.T. Sociedad Anonima	Costa Rica
		Wipro Technology Chile SPA	Chile
	Wipro IT Service Ukraine, LLC		U.K.raine
	Wipro IT Services Poland SP Z.O.O		Poland
	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		South Africa
	(Proprietary) Limited
		Wipro Technologies Nigeria Limited	Nigeria
	Wipro Technologies SRL		Romania
	Wipro (Thailand) Co. Limited		Thailand

Wipro Japan KK			Japan
	Designit Tokyo Co., Ltd.		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

Wipro, LLC			USA
	Wipro Gallagher Solutions, LLC		USA
	Wipro Insurance Solutions, LLC		USA
	Wipro IT Services, LLC		USA


				Cardinal US Holdings, Inc.⁽¹⁾		USA
				Convergence Acceleration Solutions, LLC		USA
				Designit North America, Inc.		USA
				Edgile, LLC		USA
				HealthPlan Services, Inc. ⁽¹⁾		USA
				Infocrossing, LLC		USA
				International TechneGroup Incorporated ⁽¹⁾		USA
				LeanSwift Solutions, Inc.⁽¹⁾		USA
				Rizing Intermediate Holdings, Inc. ⁽¹⁾		USA
				Wipro Appirio, Inc. ⁽¹⁾		USA
				Wipro Designit Services, Inc. ⁽¹⁾		USA
				Wipro VLSI Design Services, LLC		USA


	Capco Consultancy (Malaysia) Sdn. Bhd		Malaysia
	Capco Consultancy (Thailand) Ltd		Thailand
	Capco Consulting Singapore Pte. Ltd		Singapore
	Capco Greece Single Member P.C		Greece
	Capco Poland sp. z.o.o		Poland
	The Capital Markets Company (UK) Ltd		U.K.
		Capco (UK) 1, Limited	U.K.
	The Capital Markets Company BV		Netherlands
	The Capital Markets Company GmbH		Germany
		Capco Austria GmbH	Austria
	The Capital Markets Company Limited		Hong Kong
		Capco Consulting Services (Guangzhou)	China
		Company Limited
	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 Ampion Pty Ltd		Australia
		Wipro Iris Holdco Pty Ltd⁽³⁾	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.
	Wipro Appirio, K.K.		Japan
	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 Sistemetas De		Brazil
	Informatica Ltda

Wipro Portugal S.A.			Portugal
	Wipro Technologies GmbH		Germany
		Wipro Business Solutions GmbH⁽³⁾	Germany
		Wipro IT Services Austria GmbH	Austria

Wipro Weare4C UK Limited			U.K.
	CloudSocius DMCC		United Arab
			Emirates


	Rizing Solutions Pty Ltd	Australia
	Synchrony Global SDN BHD	Malaysia

Wipro Business Solutions GmbH		Germany
	Wipro Technology Solutions S.R.L	Romania

Wipro Iris Holdco Pty Ltd		Australia
	Wipro Iris Bidco Pty Ltd	Australia


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


		Three months ended									Year ended
		June 30,			March 31,			June 30,			March
	Particulars	2023			2023			2022			31, 2023
	Income from operations
	a) Revenue		228,310			231,903			215,286			904,876
	b) Foreign exchange gains/(losses), net		(62	)		990			1,034			4,472

I	Total income from operations		228,248			232,893			216,320			909,348

	Expenses
	a) Purchases of stock-in-trade		978			361			2,487			6,494
	b) Changes in inventories of finished goods and stock-in-trade		(182	)		835			(346	)		150
	c) Employee benefits expense		140,276			138,076			126,134			537,644
	d) Depreciation, amortization and impairment expense		7,380			8,466			7,738			33,402
	e) Sub-contracting and technical fees		26,385			28,176			29,454			115,247
	f) Facility expenses		3,452			3,693			3,299			13,492
	g) Travel		4,175			4,565			3,070			14,445
	h) Communication		1,249			1,405			1,543			5,911
	i) Legal and professional fees		2,251			2,856			3,893			13,288
	j) Software license expense for internal use		4,607			4,444			4,577			18,717
	k) Marketing and brand building		977			728			900			2,951
	l) Lifetime expected credit loss/ (write-back)		300			(604	)		(22	)		(604	)
	m) Other expenses		1,884			2,315			1,703			8,605

II	Total expenses		193,732			195,316			184,430			769,742

III	Finance expenses		3,086			2,860			2,045			10,077
IV	Finance and other Income		6,542			5,463			3,690			18,185
V	Share of net profit/ (loss) of associates accounted for using the equity method		3			4			(15	)		(57	)

VI	Profit before tax [I-II-III+IV+V]		37,975			40,184			33,520			147,657

VII	Tax expense		9,115			9,249			7,931			33,992

VIII	Profit for the period [VI-VII]		28,860			30,935			25,589			113,665

IX	Total other comprehensive income for the period		2,850			720			1,739			11,095

	Total comprehensive income for the period [VIII+IX]		31,710			31,655			27,328			124,760

X	Profit for the period attributable to:
	Equity holders of the Company		28,701			30,745			25,636			113,500
	Non-controlling interests		159			190			(47	)		165

			28,860			30,935			25,589			113,665

	Total comprehensive income for the period attributable to:
	Equity holders of the Company		31,640			31,463			27,351			124,543
	Non-controlling interests		70			192			(23	)		217

			31,710			31,655			27,328			124,760

XI	Paid up equity share capital (Par value ₹ 2 per share)		10,978			10,976			10,965			10,976

XII	Reserves excluding revaluation reserves and Non-controlling interests as per balance sheet											770,188

XIII	Earnings per share (EPS)
	(Equity shares of par value of ₹ 2/- each)
	(EPS for the three months ended periods is not annualized)
	Basic (in ₹)		5.23			5.61			4.69			20.73
	Diluted (in ₹)		5.12			5.60			4.67			20.68


	Wipro Information Technology Netherlands BV.		Netherlands
		Wipro do Brasil Technologia Ltda ⁽¹⁾	Brazil
		Wipro Information Technology Kazakhstan LLP	Kazakhstan
		Wipro Outsourcing Services (Ireland) Limited	Ireland
		Wipro Portugal S.A. ⁽¹⁾	Portugal
		Wipro Solutions Canada Limited	Canada
		Wipro Technologies Limited	Russia
		Wipro Technologies Peru SAC	Peru
		Wipro Technologies W.T. Sociedad Anonima	Costa Rica
		Wipro Technology Chile SPA	Chile
	Wipro IT Service Ukraine, LLC		U.K.raine
	Wipro IT Services Poland SP Z.O.O		Poland
	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
	Designit Tokyo Co., Ltd.		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

Wipro, LLC			USA
	Wipro Gallagher Solutions, LLC		USA
	Wipro Insurance Solutions, LLC		USA
	Wipro IT Services, LLC		USA
		Cardinal US Holdings, Inc.⁽¹⁾	USA
		Convergence Acceleration Solutions, LLC	USA
		Designit North America, Inc.	USA
		Edgile, LLC	USA
		HealthPlan Services, Inc. ⁽¹⁾	USA
		Infocrossing, LLC	USA
		International TechneGroup Incorporated ⁽¹⁾	USA
		LeanSwift Solutions, Inc.⁽¹⁾	USA
		Rizing Intermediate Holdings, Inc. ⁽¹⁾	USA
		Wipro Appirio, Inc. ⁽¹⁾	USA
		Wipro Designit Services, Inc. ⁽¹⁾	USA
		Wipro VLSI Design Services, LLC	USA


By order of the Board,		For, Wipro Limited

Place: Bengaluru		Rishad A. Premji
Date: July 13, 2023		Chairman