EX-99.3 4 d500020dex993.htm EX-99.3 EX-99.3

Exhibit 99.3

 

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Extract of audited financial results of Wipro Limited and its

subsidiaries for the Quarter ended December 31, 2017

Consolidated Audited Financial Results of Wipro Limited under IFRS

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

 

Particulars

    Quarter ended
December 31, 2017		      Nine months ended
December 31, 2017		      Quarter ended
December 31, 2016		  

Total income from operations (net)

      136,815        408,116        137,645  

Net Profit / (Loss) before tax, exceptional and extraordinary items

      24,714        79,853        27,586  

Net Profit / (Loss) before tax but after exceptional and extraordinary items

      24,714        79,853        27,586  

Net Profit / (Loss) after tax, exceptional and extraordinary items

      19,359        62,078        21,146  

Total Comprehensive Income after tax

      17,875        59,519        22,184  

Equity Share Capital

      9,047        9,047        4,861  

Reserves excluding Revaluation Reserve

      461,417        461,417        501,000  

Earnings Per Share (after extraordinary items) (of ₹ 2/- each)

         

Basic:

      4.03        12.85        4.36  

Diluted:

      4.03        12.83        4.35  

The audited interim consolidated financial results of the Company for the quarter ended December 31, 2017 have been approved by the Board of Directors of the Company at its meeting held on January 19, 2018. The statutory auditors have expressed an unmodified audit opinion.

Financial Results of Wipro Limited under IND AS

The interim condensed financial results are prepared in accordance with Indian Accounting Standards (Ind AS), the provisions of the Companies Act, 2013 (“the Companies Act”), as applicable and guidelines issued by the Securities and Exchange Board of India (“SEBI”). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016.

These financial statements, are prepared in accordance with Ind AS.

Audited Consolidated Financial results under Ind AS

 

Particulars

    Quarter ended
December 31, 2017		      Nine months ended
December 31, 2017		      Quarter ended
December 31, 2016		  

Total income from operations (net)

      136,690        407,185        136,878  

Net Profit / (Loss) before tax, exceptional and extraordinary items

      24,656        79,799        27,589  

Net Profit / (Loss) before tax but after exceptional and extraordinary items

      24,656        79,799        27,589  

Net Profit / (Loss) after tax, exceptional and extraordinary items

      19,301        62,023        21,148  

Total Comprehensive Income after tax

      17,895        59,518        22,113  

Equity Share Capital

      9,047        9,047        4,861  

Reserves excluding Revaluation Reserve

      457,814        457,814        497,229  

Earnings Per Share (after extraordinary items ) (of ₹ 2/- each)

         

Basic:

      4.02        12.83        4.36  

Diluted:

      4.02        12.81        4.35  

The audited interim consolidated financial results (under Ind AS) of the Company for the quarter ended December 31, 2017 have been approved by the Board of Directors of the Company at its meeting held on January 19, 2018. The statutory auditors have expressed an unmodified audit opinion.

Standalone Audited Financial Results of Wipro Limited under Ind AS

 

Particulars

    Quarter ended
December 31, 2017		      Nine months ended
December 31, 2017		      Quarter ended
December 31, 2016		  

Total income from operations (net)

      110,727        332,760        113,783  

Net Profit / (Loss) before tax, exceptional and extraordinary items

      24,484        78,160        25,722  

Net Profit / (Loss) before tax but after exceptional and extraordinary items

      24,484        78,160        25,722  

Net Profit / (Loss) after tax, exceptional and extraordinary items

      18,045        59,656        19,185  

Total Comprehensive Income after tax

      18,118        55,536        19,525  

Equity Share Capital

      9,047        9,047        4,861  

Reserves excluding Revaluation Reserve

      404,171        404,171        443,592  

Earnings Per Share (after extraordinary items) (of ₹ 2/- each)

         

Basic:

      3.76        12.35        3.97  

Diluted:

      3.75        12.33        3.96  

The audited interim financial results of the Company for the quarter ended December 31, 2017 have been approved by the Board of Directors of the Company at its meeting held on January 19, 2018. The statutory auditors have expressed an unmodified audit opinion.

Notes:

 

1. The above is an extract of the detailed format of Quarterly Financial Results filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015. The full format of the Quarterly Financial Results are available on the Bombay Stock Exchange website (URL: www.bseindia.com/corporates), the National Stock Exchange website (URL: www.nseindia.com/corporates) and on the Company’s website (URL: www.wipro.com).

 

2. In December 2017, National Grid filed a legal claim against the Company in U.S.District Court of the Eastern District of New York seeking damages amounting to $140 million (₹ 8,936 million) plus additional costs related to an ERP implementation project that was completed in 2014. The Company expects to defend itself against the claim and believes that the claim will not sustain.

 

3. During the current period, the Company has concluded the buyback of 343.75 million equity shares as approved by the Board of Directors on July 20, 2017. This has resulted in a total cash outflow of ₹ 110,000 million. In line with the requirement of the Companies Act 2013, an amount of ₹ 1,656 and ₹ 108,344 has been utilized from the share premium account and retained earnings respectively. Further, capital redemption reserves (included in other reserves) of ₹ 687 (representing the nominal value of the shares bought back) has been created as an apportionment from retained earnings. Consequent to such buy back, share capital has reduced by ₹ 687.

 

4. Consequent to insolvency of a customer post balance sheet date, the Company has recognized a provision of ₹ 3,175 in Consolidated Results and ₹ 2,395 in Standalone Financial Results for impairment of receivables and deferred contract cost.

 

5. On January 19, 2018, the Board of Directors of the Company declared an interim dividend of ₹ 1.00 ($ 0.02) per equity share and ADR (50% on an equity share of par value of ₹ 2).

 

Place: Bangalore    By Order of the Board,    Wipro Limited
Date: January 19, 2018    For Wipro Ltd.    Regd. Office: Doddakanneli,
   Azim H Premji    Sarjapur Road, Bangalore- 560035
   Executive Chairman & Managing Director    www.wipro.com

Registered Office: Wipro Limited, Doddakanneli, Sarjapur Road, Bangalore-560035, India

Website: www.wipro.com | Email Id- Info@wipro.com | Tel: +91-80-2844 0011 | Fax: +91-80-2844 0054

CIN: L32102KA1945PLC020800

Bengaluru

Page No. 4 Jan 20, 2018

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