Wipro Limited Announces Results for the quarter ended September 30, 2017 under IFRS | Digital Conqueror

Wipro Limited Announces Results for the quarter ended September 30, 2017 under IFRS

Wipro limited and subsidiaries CONDENSED CONSOLIDATED INTERIM STATEMENTS OF INCOME (Rupees in millions, except share and per share data, unless otherwise stated)                       Three Months ended September 30,         Six Months ended September 30,         2016   2017 2017   2016   2017 2017          Convenience translation into US dollar in millions  (unaudited) Refer footnote 1          Convenience translation into US dollar in millions  (unaudited) Refer footnote 1 Gross revenues            137,657                          134,234                        2,056               273,649              270,495                       4,142 Cost of revenues            (97,808)                          (94,694)                       (1,450)              (194,197)             (191,805)                      (2,937) Gross profit            39,849   39,540    606   79,452    78,690   1,205                     Selling and marketing expenses              (9,614)                            (9,867)                         (151)               (19,755)              (20,013)                        (306) General and administrative expenses              (8,545)                            (7,085)                         (109)               (16,144)              (14,349)                        (220) Foreign exchange gains/(losses), net                1,281                                453                              7                   2,265                    806                           12                     Results from operating activities            22,971     23,041  353   45,818   45,134  691                     Finance expenses              (1,428)                            (1,386)                           (21)                 (2,764)                (2,860)                          (44) Finance and other income                5,105                             6,661                           102                 10,305                12,861                          197 Share of profits/(loss) of equity accounted investee                    –                                     5                             –                         –                          4                            –   Profit before tax            26,648                          28,321                          434               53,359              55,139                         844 Income tax expense  (5,909)    (6,426)   (98)    (12,031)    (12,420)  (190) Profit for the period  20,739    21,895   336      41,328      42,719   654                     Attributable to:                   Equity holders of the company              20,672                            21,917                           336                 41,190                42,682                          653 Non-controlling interest       67         (22)       –           138          37       1 Profit for the period  20,739     21,895     336    41,328    42,719   654                                         Earnings per equity share:                   Attributable to equity share holders of the company                   Basic                 4.27      4.52  0.07   8.44     8.81  0.13 Diluted                 4.26                               4.52                          0.07                    8.42                   8.80                         0.13                     Weighted average number of equity shares used in                   computing earnings per equity share                   Basic    4,841,242,274                 4,845,485,149            4,845,485,149       4,878,025,634      4,844,289,024           4,844,289,024 Diluted    4,853,625,288                 4,852,992,546            4,852,992,546       4,890,933,302      4,852,340,224           4,852,340,224                     Additional Information                   Segment Revenue                   IT Services Business Units                   BFSI              33,583                            36,349                           557                 67,213                71,283                       1,092 HLS              20,883                            17,989                           275                 40,814                37,139                          569 CBU              20,708                            20,989                           321                 41,433                41,524                          636 ENU              16,881                            17,769                           272                 34,237                35,233                          540 MNT              29,463                            30,010                           460                 59,001                59,352                          909 COMM     9,848       8,583      131     19,760      17,414     265 IT SERVICES TOTAL 131,366    131,689   2,016   262,458    261,945  4,011 IT PRODUCTS                7,666                             2,988                             47                 13,596                  9,331                          143 RECONCILING ITEMS       (94)           10       –          (140)           25         0 TOTAL 138,938    134,687  2,063    275,914    271,301   4,154                     Segment Result                   IT Services Business Units                   BFSI                6,379                             6,055                             93                 13,373                11,496                          176 HLS                3,234                             2,698                             41                   6,090                  5,432                           83 CBU                3,584                             3,244                             50                   7,359                  6,178                           95 ENU                3,443                             3,435                             53                   6,468                  7,086                          109 MNT                6,175                             5,400                             83                 12,129                10,575                          162 COMM                1,594                             1,147                             18                   3,096                  2,596                           40 OTHERS                    –                                    –                               –             UNALLOCATED (1,037)        805    11   (1,874)     1,337     20 TOTAL IT SERVICES              23,372                            22,784                           349                 46,641                44,700                          685 IT PRODUCTS                 (298)                                  88                              1                    (666)                    119                             2 RECONCILING ITEMS    (103)        169     3       (157)        315      5 TOTAL  22,971    23,041  353    45,818    45,134  691 FINANCE EXPENSE              (1,428)                            (1,386)                           (21)                 (2,764)                (2,860)                          (44) FINANCE AND OTHER INCOME                5,105                             6,661                           102                 10,305                12,861                          197 SHARE OF PROFIT/(LOSS) OF EQUITY ACCOUNTED INVESTEE            5     –            –             4     0 PROFIT BEFORE TAX              26,648                            28,321                           434                 53,359                55,139                          844 INCOME TAX EXPENSE (5,909)    (6,426)   (98)   (12,031)    (12,420)  (190) PROFIT FOR THE PERIOD 20,739    21,895   336    41,328     42,719   654 Segment result represents operating profits of the segments and dividend income and gains or losses (net) relating to strategic investments, which are presented within “Finance and other income” in the statement of Income. The Company is organized by the following operating segments; IT Services and IT Products.
The IT Services segment primarily consists of IT Service offerings to customers organized by industry verticals. The industry verticals are as follows: Banking,Financial Services and Insurance (BFSI), Healthcare & Lifesciences (HLS), Consumer Business Unit (CBU), Energy, Natural Resources & Utilities (ENU), Manufacturing & Technology (MNT), Communications (COMM). IT Services segment also includes Others which comprises dividend income relating to strategic investments, which are presented within “Finance and other income” in the statement of Income. Key service offerings to customers includes software application development and maintenance, research and development services for hardware and software design, business application services, analytics, consulting, infrastructure outsourcing services and business process services.In the IT Products segment, the Company is a value added reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware products, software licenses and other related deliverables.
  Reconciliation  of Non-GAAP Constant Currency IT Services Revenue to IT Services Revenue as per IFRS ($MN) Three Months ended September 30,2017
  IT Services Revenue as per IFRS  $ 2,013.5     IT Services Revenue as per IFRS      $ 2,013.5 Effect of Foreign currency exchange movement  $ (36.6)     Effect of Foreign currency exchange movement      $  (44.1) Non-GAAP Constant Currency IT Services Revenue based on previous quarter exchange rates  $ 1,976.9     Non-GAAP Constant Currency IT Services Revenue based on previous year exchange rates  $ 1,969.4

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