Bangalore, India and East Brunswick, New Jersey, USA – July 20, 2018 – Wipro Limited (NYSE: WIT,
BSE: 507685, NSE: WIPRO) today announced financial results under International Financial Reporting
Standards (IFRS) for its quarter ended June 30, 2018.
Highlights of the Results
Results for the Quarter ended June 30, 2018:
Gross Revenue was ₹139.8 billion ($2.0 billion1), up 1.5% sequentially and 2.6% YoY.
IT Services Segment Revenue at ₹137.0 billion ($2.0 billion1), up 2.2% sequentially and 5.2% YoY.
IT Services Segment Revenue in dollar terms at $2,026.5 million, down 1.7% sequentially, up 2.8% YoY.
Non-GAAP constant currency IT Services Segment Revenue up 0.1% sequentially and 2.4% YoY.
IT Services Margin2 for the quarter at 17.2%. This includes a gain of ₹2,529 million ($36.9 million1) from
the sale of our hosted data center business in the quarter ended June 30, 2018.
EPS for the quarter at ₹4.71 ($0.071) per share, an increase of 9.9% YoY.
Performance for the Quarter ended June 30, 2018
Abidali Z. Neemuchwala, CEO and Member of the Board said – “We have seen pickup in spending in the
developed markets, particularly in North America and BFSI. Our investments in Digital continue to help us
build differentiation in key industry segments, which is resulting in a consistent improvement in our client
metrics. We have had a good quarter of order bookings and I am confident we are moving in the right
Jatin Dalal, Chief Financial Officer said -“We successfully concluded the sale of our hosted data center
business in the quarter. We continue to improve our operating metrics and generated strong operating cash
flows at 136% of our Net Income during the quarter.”
Outlook for the Quarter ending September 30, 2018
We expect Revenue from our IT Services business to be in the range of $2,009 million to $2,049
million*. This translates to a sequential growth of 0.3% to 2.3%, excluding the impact of the
divestment of our hosted data center services business which concluded in the quarter ended June
* Outlook is based on the following exchange rates: GBP/USD at 1.34, Euro/USD at 1.18, AUD/USD at 0.75, USD/INR at 68.50
and USD/CAD at 1.29.
Wipro continued its momentum in winning large deals globally as described below:
Wipro has won an applications cloud migration contract from a European investment bank for their repository
A major US airline has renewed its multi-year contract with Wipro for global contact center support and other
business process services.
Wipro has won a multi-year business process operations transformation contract from an Australian
construction and property management company. The engagement will leverage Wipro’s AI, cognitive-driven
automation and platforms to standardize and transform the client’s finance and HR operations into a global
shared services model.
Wipro has been awarded a multi-year cargo management contract by LATAM Cargo S.A., a leader in air
cargo transport to, from and within Latin America. Wipro will deploy its end to end cargo management system,
CROAMIS, for the client.
Wipro has been awarded a multi-year quality engineering transformation contract by a leading African
financial services company. Our proprietary platforms – Wipro AssureNXT and Wipro HOLMESTM will drive
cost optimization as well as standardize and transform the quality engineering landscape for the client.
We continue to see increasing traction in digital oriented deals as illustrated below:
A global pharmaceutical company has selected Wipro to support its strategic assessment and go-to-market
approach for its diagnostics business unit. The project will leverage Wipro’s industry expertise and service
design methodology to help define a futuristic strategy roadmap for the business unit.
Wipro has won an application modernization and cloud migration contract from a global financial services
company, aimed at driving greater business agility and improved end-customer experience.
Wipro and Designit have been selected by a leading North American student aid organization to help
transform and reimagine its customer experience across its loan portals through redesigned business
processes and digital touchpoints.
Wipro also continues to win deals in the cloud applications space by leveraging Appirio Cloud Services:
An American retailer has extended its HR transformation contract with Wipro. This program will improve
the customer experience as well as the employee satisfaction in its stores.
A large medical advocacy group has selected Wipro as a partner to transform its employee and member
experience. Wipro will implement a cloud-based solution to enhance the group’s human capital
management, payroll and finance operations.
Analyst Accolades and Awards
Wipro was recognized as a Leader in the Nelson Hall NEAT assessment on Business Process
Transformation through RPA & AI.
Wipro was recognized as a Leader in IDC MarketScape for Worldwide Manufacturing Information
Transformation Strategic Consulting 2018 Vendor Assessment.
Wipro was recognized as a Leader in Everest Group’s Know Your Customer-Anti Money Laundering (KYCAML)
BPO – State of the Market with Services PEAK Matrix™ Assessment 2018.
Wipro has been awarded the National Intellectual Property (IP) Award 2018 by Intellectual Property Office
(IPO), Government of India and The Department of Industrial Policy and Promotion (DIPP), in the ‘Top Public
Limited Company / Private Limited Company for Patents & Commercialization in India’ category.
All product names, logos, and brands are property of their respective owners.
IT Products Segment Revenue for the quarter ended June 30, 2018 was ₹3.5 billion ($51.6 million1).
IT Products Margin for the quarter was -20.9%.
Please refer the table on page 9 for reconciliation between IFRS IT Services Revenue and IT Services
Revenue on a non-GAAP constant currency basis.