EX-99.1 2 d135194dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

FOR IMMEDIATE RELEASE    LOGO

Results for the Quarter and Year ended March 31, 2021 under IFRS

IT Services Revenue growth for the quarter at 3.9% QoQ

EPS for the year increased by 14.6% YoY

Bangalore, India and East Brunswick, New Jersey, USA – April 15, 2021—Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) today announced financial results under International Financial Reporting Standards (IFRS) for the Quarter and Year ended March 31, 2021.

Highlights of the Results

Results for the Quarter ended March 31, 2021:

 

   

Gross Revenue was  162.5 billion ($2.2 billion1), an increase of 3.4% YoY

 

   

IT Services Segment Revenue was at $2,152.4 million, an increase of 3.9% QoQ and 3.8% YoY

 

   

Non-GAAP2 constant currency IT Services Segment Revenue increased by 3.0% QoQ and 0.5% YoY

 

   

IT Services Operating Margin3 for the quarter was at 21.0%, an expansion of 344 bps YoY

 

   

Net Income for the quarter was  29.7 billion ($406.4 million1), an increase of 27.8% YoY

 

   

Earnings Per Share for the quarter was at  5.39 ($0.071), an increase of 31.8% YoY

Results for the Year ended March 31, 2021:

 

   

Gross Revenue was  619.4 billion ($8.5 billion1), an increase of 1.5% YoY

 

   

IT Services Segment Revenue was at $8,136.5 million, a decrease of 1.4% YoY

 

   

Non-GAAP2 constant currency IT Services Segment Revenue decreased by 2.3% YoY

 

   

IT Services Operating Margin3 for the year was at 20.3%, an expansion of 218 bps YoY

 

   

Net Income for the year was  107.9 billion ($1,475.9 million1), an increase of 11.0% YoY

 

   

Earnings Per Share for the year was at  19.11 ($0.261), an increase of 14.6% YoY

 

   

Operating Cash Flow was at  147.6 billion ($2,017.4 million1), an increase of 46.6% YoY, which is 136.7% of Net Income

Performance for the quarter and year ended March 31, 2021

Thierry Delaporte, CEO and Managing Director said, “I am delighted with the way we have finished the financial year. We delivered a third consistent quarter of strong revenue growth, deal wins and operating margins. We also announced our largest ever acquisition of Capco that will bolster our global financial services sector. We are excited with this wave of business momentum that we are witnessing. All key markets are now growing on YoY basis and this provides us a solid foundation to build on next year growth rates.”

Jatin Dalal, Chief Financial Officer said, “We delivered a 340 bps expansion YoY in operating margins for the quarter after absorbing the impact of wage hike. On a full year basis we increased margins by 220 bps with a consistent improvement in operating metrics. Led by disciplined execution, we generated strong operating cash flows at 136.7% of our net income for the full year. We successfully completed the share buyback program returning $1.3Bn to our shareholders.”

 

 

1.

For the convenience of the readers, the amounts in Indian Rupees in this release have been translated into United States Dollars at the certified foreign exchange rate of US$1 = 73.14, as published by the Federal Reserve Board of Governors on March 31, 2021. However, the realized exchange rate in our IT Services business segment for the quarter ended March 31, 2021 was US$1= 73.83

2.

Constant currency revenue for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period

3.

IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials

 

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Outlook for the quarter ending June 30, 2021

We expect Revenue from our IT Services business to be in the range of $2,195 million to $2,238 million*. This translates to a sequential growth of 2.0% to 4.0%. This does not include revenue from our recently announced acquisitions of Capco and Ampion

* Outlook is based on the following exchange rates: GBP/USD at 1.39, Euro/USD at 1.20, AUD/USD at 0.78, USD/INR at 72.76 and CAD/USD at 0.78

Capital Allocation

 

   

In the quarter ended March 31, 2021, the Company has concluded the buyback of 237.5 million equity shares as approved earlier by the Board of Directors at their meeting held on October 13, 2020 for an aggregate amount of  95 billion ($1.3 billion1), excluding buyback tax

 

   

The interim dividend of  1 declared by the Board at its meeting held on January 13, 2021 shall be considered as the final dividend for the financial year 2020-21

IT Services

Wipro continued its momentum in winning large deals with our customers as described below:

 

   

Wipro has won a multi-million-dollar integrated engagement from a leading US-based industrial manufacturing company to transform and modernize its business functions and enable it to become a digital enterprise via transformation in applications, infrastructure, cyber security and service delivery.

 

   

Wipro has won a multi-year strategic contract from a US-based digital transformation and consulting agency to provide Infrastructure Managed Services for its Data Center, and Network and Tools landscape. Wipro will leverage AI Ops tool stack to automate the client’s infrastructure to reduce turnaround time across requests and incidents, improve operational efficiency, and deliver a superior user experience for its end customer, a leading US-based Federal agency.

Digital Services Highlights

We continue to see increasing traction in digital oriented and other strategic deals as illustrated below:

 

   

A leading Indian e-commerce and technology company has selected Wipro to enhance customer experience, leveraging its expertise in digital operations and new-age solutions.

 

   

A leading technology provider has awarded Wipro a contract to consolidate its enterprise digital assets on cloud and on-premise to a centralized content repository to enable robust management of its marketing content needs.

 

   

A global communications and networking giant has extended their decade-long partnership with Wipro Designit to research, prototype, and design their major product family, as well as associated services and experience.

 

   

Wipro has won a multi-year engagement with a US-based utilities company to provide System Integrator services for a large business and IT transformation program in the areas of Supply Chain and Enterprise Work and Asset Management. Wipro will leverage its strong domain expertise and capabilities in Digital, Applications, and Data and Analytics to implement leading practices and business processes across the enterprise.

 

   

A multinational professional services company has engaged Wipro Designit to design next generation, user-centric experience for its employees. Designit will apply research, service design blueprinting and experience design to transform the workplace and the computing experience for the client’s global workforce.

 

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Analyst Recognition

 

   

Wipro was positioned as a Leader in Gartner Magic Quadrant for Managed Workplace Services, North America, Daniel Barros, Mark Ray, Stephanie Stoudt-Hansen, Tobi Bet, 24 Feb 2021

 

   

Wipro was positioned as a Leader in Gartner Magic Quadrant for Managed Workplace Services, Europe, David Groombridge, Claudio Da Rold, Alexandra Chavez, Daniel Barros, Katja Ruud, 24 Feb 2021

 

   

Wipro was positioned as a Leader in Gartner Magic Quadrant for Customer Service BPO, Deborah Alvord, Kim Dans, Philip Jenkins, John Quaglietta, TJ Singh, 9 Feb 2021

 

   

Wipro ranks among the Top Service Providers in Customer Satisfaction Category in Whitelane / Quint Netherlands IT Outsourcing Study 2021

 

   

Wipro ranks among the Top Service Providers in Customer Satisfaction Category in Whitelane & PA Consulting IT Outsourcing Study 2021 in Nordics Region

 

   

Wipro was positioned as a Leader in Everest Group’s Pharmacovigilance and Complaint Management Operations Services PEAK Matrix® Assessment 2021

 

   

Wipro was recognized as a Leader in Everest Group’s Intelligent Process Automation (IPA) Solutions PEAK Matrix® Assessment 2021

 

   

Wipro was recognized as a Leader in Everest Group’s Semiconductor Engineering Services PEAK Matrix® Assessment 2021

 

   

Wipro was rated as a Leader in ISG Provider Lens Salesforce Ecosystem Partners 2021 – US

 

   

Wipro was rated as a Leader in ISG Provider Lens Next-gen Application Development & Maintenance (ADM) Services 2020 – US and UK

Disclaimer: Gartner does not endorse any vendor, 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 research publications consist of the opinions of Gartner’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 particular purpose.

IT Products

 

   

IT Products Segment Revenue for the year was  7.7 billion ($105.1 million1)

 

   

IT Products Segment Results for the year was a profit of  0.05 billion ($0.62 million1)

 

   

IT Products Segment Revenue for the quarter was  2.1 billion ($28.9 million1)

 

   

IT Products Segment Results for the quarter was a profit of  0.15 billion ($2.0 million1)

India business from State Run Enterprises (ISRE)

 

   

India SRE Segment Revenue for the year was  8.9 billion ($121.8 million1)

 

   

India SRE Segment Results for the year was a profit of  1.1 billion ($14.5 million1)

 

   

India SRE Segment Revenue for the quarter was  2.3 billion ($31.5 million1)

 

   

India SRE Segment Results for the quarter was a profit of  0.6 billion ($8.0 million1)

Please refer to the table on page 9 for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis.

About Non-GAAP Financial Measures

This press release contains 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.

 

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The table on page 9 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.

This non-GAAP financial measure is 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. In addition to this non-GAAP measure, 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 and year ended March 31, 2021, prepared under IFRS, along with individual business segment reports, are available in the Investors section of our website www.wipro.com

Quarterly Conference Call

We will hold an earnings conference call today at 07:15 p.m. Indian Standard Time (09:45 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 web-cast and can be accessed at the following link- https://links.ccwebcast.com/?EventId=WIPRO210415

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

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 190,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.

 

Contact for Investor Relations    Contact for Media & Press
Aparna Iyer    Abhishek Kumar Jain    Vipin Nair
Phone: +91-80-6142 7139    Phone: +91-9845791363    Phone: +91-80-6142 6450
iyer.aparna@wipro.com    abhishekkumar.jain@wipro.com    vipin.nair1@wipro.com

 

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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, 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)

 

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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, 2020      As at March 31, 2021  
    

 

    

 

     Convenience translation
into US dollar in millions

Refer footnote 1 in page 1
 

ASSETS

        

Goodwill

     131,012        139,127        1,902  

Intangible assets

     16,362        13,085        179  

Property, plant and equipment

     81,120        85,192        1,165  

Right-of-Use assets

     16,748        16,420        225  

Financial assets

        

Derivative assets

     —          16        ^  

Investments

     9,302        10,576        145  

Trade receivables

     6,049        4,358        60  

Other financial assets

     5,881        6,088        83  

Investments accounted for using the equity method

     1,383        1,464        20  

Deferred tax assets

     6,005        1,664        23  

Non-current tax assets

     11,414        14,323        196  

Other non-current assets

     11,935        15,935        217  
  

 

 

    

 

 

    

 

 

 

Total non-current assets

     297,211        308,248        4,215  
  

 

 

    

 

 

    

 

 

 

Inventories

     1,865        1,064        15  

Financial assets

        

Derivative assets

     3,025        4,064        56  

Investments

     189,635        175,707        2,402  

Cash and cash equivalents

     144,499        169,793        2,321  

Trade receivables

     104,474        94,298        1,289  

Unbilled receivables

     25,209        27,124        371  

Other financial assets

     8,614        7,245        99  

Contract assets

     17,143        16,507        226  

Current tax assets

     2,882        2,461        34  

Other current assets

     22,505        24,923        340  
  

 

 

    

 

 

    

 

 

 

Total current assets

     519,851        523,186        7,153  
  

 

 

    

 

 

    

 

 

 

TOTAL ASSETS

     817,062        831,434        11,368  
  

 

 

    

 

 

    

 

 

 

EQUITY

        

Share capital

     11,427        10,958        150  

Share premium

     1,275        714        10  

Retained earnings

     476,103        466,692        6,381  

Share-based payment reserve

     1,550        3,071        42  

SEZ Re-investment reserve

     43,804        41,154        563  

Other components of equity

     23,299        30,506        418  
  

 

 

    

 

 

    

 

 

 

Equity attributable to the equity holders of the Company

     557,458        553,095        7,564  

Non-controlling interests

     1,875        1,498        20  
  

 

 

    

 

 

    

 

 

 

TOTAL EQUITY

     559,333        554,593        7,584  
  

 

 

    

 

 

    

 

 

 

LIABILITIES

        

Financial liabilities

        

Loans and borrowings

     4,840        7,458        102  

Derivative liabilities

     138        —          —    

Lease liabilities

     12,638        13,513        185  

Other financial liabilities

     151        2,291        31  

Deferred tax liabilities

     2,825        4,633        63  

Non-current tax liabilities

     13,205        11,069        151  

Other non-current liabilities

     7,537        7,835        107  

Provisions

     2        2        ^  
  

 

 

    

 

 

    

 

 

 

Total non-current liabilities

     41,336        46,801        639  
  

 

 

    

 

 

    

 

 

 

Financial liabilities

        

Loans, borrowings and bank overdrafts

     73,202        75,874        1,037  

Derivative liabilities

     7,231        1,070        15  

Trade payables and accrued expenses

     78,129        78,870        1,078  

Lease liabilities

     6,560        7,669        105  

Other financial liabilities

     899        1,470        20  

Contract liabilities

     18,775        22,535        308  

Current tax liabilities

     11,731        17,324        237  

Other current liabilities

     19,254        24,552        336  

Provisions

     612        676        9  
  

 

 

    

 

 

    

 

 

 

Total current liabilities

     216,393        230,040        3,145  
  

 

 

    

 

 

    

 

 

 

TOTAL LIABILITIES

     257,729        276,841        3,784  
  

 

 

    

 

 

    

 

 

 

TOTAL EQUITY AND LIABILITIES

     817,062        831,434        11,368  
  

 

 

    

 

 

    

 

 

 
^

Value is less than 1

 

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WIPRO LIMITED AND SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME

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

 

 
     Three months ended March 31,     Year ended March 31,  
     2020     2021     2021     2020     2021     2021  
    

 

   

 

    Convenience
translation into
US dollar in
millions

Refer footnote 1
in page 1
   

 

   

 

    Convenience
translation into
US dollar in
millions

Refer footnote 1
in page 1
 

Revenues

     157,110       162,454       2,221       610,232       619,430       8,469  

Cost of revenues

     (114,133     (109,805     (1,501     (436,085     (423,205     (5,786
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     42,977       52,649       720       174,147       196,225       2,683  

Selling and marketing expenses

     (10,295     (10,679     (146     (42,907     (41,400     (566

General and administrative expenses

     (7,681     (8,689     (119     (29,823     (34,686     (474

Foreign exchange gains

     993       886       12       3,169       2,995       41  

Other operating income/(loss), net

     395       —         —         1,144       (81     (1
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Results from operating activities

     26,389       34,167       467       105,730       123,053       1,683  

Finance expenses

     (1,653     (1,122     (15     (7,328     (5,088     (70

Finance and other income

     4,907       4,447       61       24,081       20,912       286  

Share of net profit /(loss) of associates accounted for using the equity method

     13       4       ^       29       130       2  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit before tax

     29,656       37,496       513       122,512       139,007       1,901  

Income tax expense

     (6,205     (7,755     (106     (24,799     (30,345     (415
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit for the period

     23,451       29,741       407       97,713       108,662       1,486  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit attributable to:

            

Equity holders of the Company

     23,260       29,721       407       97,218       107,946       1,476  

Non-controlling interests

     191       20       ^       495       716       10  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit for the period

     23,451       29,741       407       97,713       108,662       1,486  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings per equity share:

            

Attributable to equity holders of the Company

            

Basic

     4.09       5.39       0.07       16.67       19.11       0.26  

Diluted

     4.07       5.38       0.07       16.62       19.07       0.26  

Weighted average number of equity shares used in computing earnings per equity share

            

Basic

     5,692,835,298       5,510,335,838       5,510,335,838       5,833,384,018       5,649,265,885       5,649,265,885  

Diluted

     5,703,378,727       5,524,619,810       5,524,619,810       5,847,823,239       5,661,657,822       5,661,657,822  
^

Value is less than 1

 

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Additional Information:

 

Particulars    Three months ended     Year ended  
   March 31,
2021
    December 31,
2020
    March 31,
2020
    March 31,
2021
    March 31,
2020
 
   Audited     Audited     Audited     Audited     Audited  

Revenue

          

IT Services

          

Americas 1

     46,510       45,015       45,977       178,091       176,115  

Americas 2

     46,475       44,702       45,418       179,821       181,481  

Europe

     45,107       42,880       41,104       165,441       157,526  

APMEA

     20,825       20,717       20,395       82,462       78,676  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total of IT Services

     158,917       153,314       152,894       605,815       593,798  

IT Products

     2,117       1,563       3,266       7,685       11,657  

ISRE

     2,302       2,388       1,931       8,912       7,950  

Reconciling Items

     4       1       12       13       (4
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Revenue

     163,340       157,266       158,103       622,425       613,401  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Other operating income/(loss), net

          

IT Services

     —         —         395       (81     1,144  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Other operating income/(loss), net

     —         —         395       (81     1,144  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Segment Result

          

IT Services

          

Americas 1

     9,863       8,095       7,324       33,040       27,289  

Americas 2

     10,500       10,216       9,008       41,589       34,341  

Europe

     8,704       9,251       7,181       31,673       27,617  

APMEA

     3,074       2,765       2,426       11,476       9,550  

Unallocated

     1,257       2,944       609       5,153       7,732  

Other operating income/(loss), net

     —         —         395       (81     1,144  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total of IT Services

     33,398       33,271       26,943       122,850       107,673  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

IT Products

     145       78       145       45       (323

ISRE

     587       471       (510     1,061       (1,849

Reconciling Items

     37       (7     (189     (903     229  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

     34,167       33,813       26,389       123,053       105,730  

Finance Expense

     (1,122     (1,400     (1,653     (5,088     (7,328

Finance and Other Income

     4,447       5,975       4,907       20,912       24,081  

Share of net profit/ (loss) of associates accounted for using the equity method

     4       101       13       130       29  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit before tax

     37,496       38,489       29,656       139,007       122,512  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

8


LOGO

 

The Company is organized into the following operating segments: IT Services, IT Products and India State Run Enterprise segment (ISRE).

IT Services: As announced on November 12, 2020, effective January 1, 2021, the Company re-organized IT Services segment.to four Strategic Market Units (“SMUs”)—Americas 1, Americas 2, Europe and Asia Pacific Middle East Africa (“APMEA”).

Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries.

Americas 1 includes Healthcare and Medical Devices, Consumer Goods and Lifesciences, Retail, Transportation and Services, Communications, Media and Information services, Technology Products and Platforms, in the United States of America and entire business of Latin America (“LATAM”). Americas 2 includes Banking, Financial Services and Insurance, Manufacturing, Hi-tech, Energy and Utilities industry sectors in the United States of America and entire business of Canada. Europe consists of United Kingdom and Ireland, Switzerland, Germany, Benelux, Nordics and Southern Europe. APMEA consists of Australia and New Zealand, India, Middle East, South East Asia, Japan and Africa.

IT Products: 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, software products and other related deliverables. Revenue relating to the above items is reported as revenue from the sale of IT Products.

India State Run Enterprise segment (ISRE): This segment consists of IT Services offerings to entities/ departments owned or controlled by the Government of India and/ or any State Governments.

Reconciliation of Non-GAAP Constant Currency IT Services Revenue to IT Services Revenue as per IFRS ($Mn)

Three Months ended March 31, 2021

 

IT Services Revenue as per IFRS

   $ 2,152.4  

Effect of Foreign currency exchange movement

   $ (18.7
  

 

 

 

Non-GAAP Constant Currency IT Services Revenue based on previous quarter exchange rates

   $ 2,133.7  

Three Months ended March 31, 2021

 

IT Services Revenue as per IFRS

   $ 2,152.4  

Effect of Foreign currency exchange movement

   $ (68.8
  

 

 

 

Non-GAAP Constant Currency IT Services Revenue based on exchange rates of comparable period in previous year

   $ 2,083.6  

Year ended March 31, 2021

 

IT Services Revenue as per IFRS

   $ 8,136.5  

Effect of Foreign currency exchange movement

   $ (72.2
  

 

 

 

Non-GAAP Constant Currency IT Services Revenue based on exchange rates of comparable period in previous year

   $ 8,064.4  

 

9