EX-99.3 4 d500020dex993.htm EX-99.3

Exhibit 99.3

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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