EX-99.4 5 d946127dex994.htm EX-99.4 EX-99.4

Exhibit 99.4

WIPRO LIMITED

CIN: L32102KA1945PLC020800 ; Registered Office : Wipro Limited, Doddakannelli, Sarjapur Road, Bengaluru - 560035, India

Website: www.wipro.com ; Email id – info@wipro.com ; Tel: +91-80-2844 0011 ; Fax: +91-80-2844 0054

STATUTORILY AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE THREE MONTHS ENDED JUNE 30, 2025

UNDER IFRS (IASB)

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

 

   

Particulars

   Three months ended     Year ended  
     June 30,
2025
    March 31,
2025
    June 30,
2024
    March 31,
2025
 
  Income         
 

a) Revenue from operations

     221,346     225,042     219,638     890,884
 

b) Foreign exchange gains/(losses), net

     182     224     (206     32
    

 

 

   

 

 

   

 

 

   

 

 

 

I

  Total income      221,528     225,266     219,432     890,916
    

 

 

   

 

 

   

 

 

   

 

 

 
  Expenses         
 

a) Purchases of stock-in-trade

     545     810     664     2,967
 

b) Changes in inventories of stock-in-trade

     121     31     (2     195
 

c) Employee benefits expense

     134,275     133,454     132,293     533,477
 

d) Depreciation, amortization and impairment expense

     6,855     7,217     7,289     29,579
 

e) Sub-contracting and technical fees

     25,578     24,896     24,767     100,148
 

f) Facility expenses

     4,198     4,113     4,133     16,067
 

g) Travel

     3,788     3,158     3,937     14,095
 

h) Communication

     797     899     993     3,842
 

i) Legal and professional fees

     1,889     3,133     2,282     11,270
 

j) Software license expense for internal use

     4,961     4,951     4,605     19,338
 

k) Marketing and brand building

     883     917     804     3,591
 

l) Lifetime expected credit loss/ (write-back)

     502     365     (26     324
 

m) (Gain)/loss on sale of property, plant and equipment, net

     (66     160     (23     (606
 

n) Other expenses

     1,478     2,075     1,647     5,358
    

 

 

   

 

 

   

 

 

   

 

 

 

II

  Total expenses      185,804     186,179     183,363     739,645
    

 

 

   

 

 

   

 

 

   

 

 

 

III

  Finance expenses      3,608     3,767     3,288     14,770

IV

  Finance and other income      10,417     11,819     7,480     38,202

V

  Share of net profit/ (loss) of associate and joint venture accounted for using the equity method      50     291     (45     254
    

 

 

   

 

 

   

 

 

   

 

 

 

VI

  Profit before tax [I-II-III+IV+V]      42,583     47,430     40,216     174,957
    

 

 

   

 

 

   

 

 

   

 

 

 

VII

  Tax expense      9,218     11,549     9,850     42,777
    

 

 

   

 

 

   

 

 

   

 

 

 

VIII

  Profit for the period [VI-VII]      33,365     35,881     30,366     132,180
    

 

 

   

 

 

   

 

 

   

 

 

 
  Other comprehensive income (OCI)         
 

Items that will not be reclassified to profit or loss in subsequent periods

        
 

Remeasurements of the defined benefit plans, net

     (229     124     58     274
 

Net change in fair value of investment in equity instruments measured at fair value through OCI

     (1     (2,943     (319     (3,476
 

Items that will be reclassified to profit or loss in subsequent periods

        
 

Foreign currency translation differences

     6,583     1,762     (1,399     7,331
 

Reclassification of foreign currency translation differences on liquidation of subsidiaries to statement of income

     —      (55     ^     (41
 

Net change in time value of option contracts designated as cash flow hedges, net of taxes

     (274     (94     4     (189
 

Net change in intrinsic value of option contracts designated as cash flow hedges, net of taxes

     170     335     85     146
 

Net change in fair value of forward contracts designated as cash flow hedges, net of taxes

     (1     810     218     (745
 

Net change in fair value of investment in debt instruments measured at fair value through OCI, net of taxes

     588     352     184     963

IX

  Total other comprehensive income for the period, net of taxes      6,836     291     (1,169     4,263
    

 

 

   

 

 

   

 

 

   

 

 

 
  Total comprehensive income for the period [VIII+IX]      40,201     36,172     29,197     136,443
    

 

 

   

 

 

   

 

 

   

 

 

 

 

1


X

  Profit for the period attributable to:            
 

Equity holders of the Company

     33,304      35,696      30,032      131,354
 

Non-controlling interests

     61      185      334      826
    

 

 

    

 

 

    

 

 

    

 

 

 
       33,365      35,881      30,366      132,180
    

 

 

    

 

 

    

 

 

    

 

 

 
 

Total comprehensive income for the period attributable to:

           
 

Equity holders of the Company

     40,137      36,005      28,865      135,595
 

Non-controlling interests

     64      167      332      848
    

 

 

    

 

 

    

 

 

    

 

 

 
       40,201      36,172      29,197      136,443
    

 

 

    

 

 

    

 

 

    

 

 

 

XI

 

Paid up equity share capital (Par value 2 per share)

     20,965      20,944      10,460      20,944

XII

 

Reserves excluding revaluation reserves and Non-controlling interests as per balance sheet

              807,365
             

 

 

 

XIII

  Earnings per share (EPS)            
 

(Equity shares of par value of 2/- each)

           
 

(EPS for the three months ended periods are not annualized)

           
 

Basic (in )

     3.18      3.41      2.87      12.56
 

Diluted (in )

     3.17      3.39      2.87      12.52

 

^

Value is less than 0.5

 

1.

The audited consolidated financial results of the Company for the three months ended June 30, 2025, have been approved by the Board of Directors of the Company at its meeting held on July 17, 2025. The Company confirms that its statutory auditors, Deloitte Haskins & Sells LLP have issued an audit report with unmodified opinion on the consolidated financial results for the three months ended June 30, 2025.

 

2.

The above consolidated financial results have been prepared on the basis of the audited interim condensed consolidated financial statements for the three months ended June 30, 2025, which are prepared in accordance with International Financial Reporting Standards and its interpretations (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). All amounts included in the consolidated financial results (including notes) are reported in millions of Indian Rupees ( in millions) except share and per share data, unless otherwise stated.

 

3.

(Gain)/loss on sale of property, plant and equipment for the year ended March 31, 2025, includes gain on relinquishment of the lease hold rights of land, and transfer of building along with other assets of  (885).

 

4.

Other expenses are net of insurance claim received of  1,805 for the year ended March 31, 2025.

 

5.

List of subsidiaries, associate and joint venture as at June 30, 2025 are provided in the table below:

 

Subsidiaries

  

Subsidiaries

  

Subsidiaries

  

Country of
Incorporation

Attune Consulting India Private Limited          India
Capco Technologies Private Limited          India
Wipro Chengdu Limited          China
Wipro Holdings (UK) Limited          U.K.
Wipro IT Services Bangladesh Limited          Bangladesh
Wipro IT Services UK Societas          U.K.
   Designit A/S       Denmark
      Designit Denmark A/S    Denmark
      Designit Germany GmbH    Germany
      Designit Oslo A/S    Norway
      Designit Spain Digital, S.L.U    Spain
      Designit T.L.V Ltd.    Israel
   Wipro Bahrain Limited Co. W.L.L       Bahrain
   Wipro Czech Republic IT Services s.r.o.       Czech Republic
   Wipro CRM Services       Belgium
      Wipro 4C Consulting France SAS    France
      Wipro CRM Services B.V.    Netherlands
      Wipro CRM Services ApS    Denmark
      Wipro CRM Services UK Limited    U.K.
   Grove Holdings 2 S.á.r.l       Luxembourg
      Capco Solution Services GmbH    Germany
      The Capital Markets Company Italy Srl    Italy
      Capco Brasil Serviços E Consultoria Ltda    Brazil

 

2


      The Capital Markets Company BV (1)    Belgium
      Capco Consulting Middle East FZE    UAE
   PT. WT Indonesia       Indonesia
   Rainbow Software LLC       Iraq
   Wipro Arabia Limited (2)       Saudi Arabia
      Women’s Business Park Technologies Limited (2)    Saudi Arabia
   Wipro Doha LLC       Qatar
   Wipro Financial Outsourcing Services Limited       U.K.
      Wipro UK Limited    U.K.
   Wipro Gulf LLC       Sultanate of Oman
   Wipro Holdings Hungary Korlátolt Felelősségű Társaság       Hungary
   Wipro Information Technology Netherlands BV.       Netherlands
      Wipro do Brasil Technologia Ltda (1)    Brazil
      Wipro Information Technology Kazakhstan LLP    Kazakhstan
      Wipro Outsourcing Services (Ireland) Limited    Ireland
      Wipro Portugal S.A. (1)    Portugal
      Wipro Solutions Canada Limited    Canada
      Wipro Technologies Limited    Russia
      Wipro Technologies Peru SAC    Peru
      Wipro Technologies W.T. Sociedad Anonima    Costa Rica
      Wipro Technology Chile SPA    Chile
      Applied Value Technologies B.V.    Netherlands
   Wipro IT Service Ukraine, LLC       Ukraine
   Wipro IT Services Poland SP Z.O.O       Poland
   Wipro IT Services S.R.L.       Romania
   Wipro Regional Headquarter       Saudi Arabia
   Wipro Technologies Australia Pty Ltd       Australia
      Wipro Ampion Holdings Pty Ltd (1)    Australia
   Wipro Technologies SA       Argentina
   Wipro Technologies SA DE CV       Mexico
   Wipro Technologies South Africa (Proprietary) Limited       South Africa
      Wipro Technologies Nigeria Limited    Nigeria
   Wipro Technologies SRL       Romania
   Wipro (Thailand) Co. Limited       Thailand
Wipro Japan KK          Japan
Wipro Networks Pte Limited          Singapore
   Wipro (Dalian) Limited       China
   Wipro Technologies SDN BHD       Malaysia
   Applied Value Technologies Pte Limited       Singapore
   Wipro (Tianjin) Limited (4)       China
Wipro Philippines, Inc.          Philippines
Wipro Shanghai Limited          China
Wipro Travel Services Limited          India
Wipro, LLC          USA
   Wipro Gallagher Solutions, LLC       USA
   Wipro Insurance Solutions, LLC       USA
   Wipro IT Services, LLC       USA
      Aggne Global Inc. (3)    USA
      Cardinal US Holdings, Inc.(1)    USA
      Edgile, LLC    USA
      HealthPlan Services, Inc. (1)    USA
      Infocrossing, LLC    USA
      International TechneGroup Incorporated (1)    USA
      Wipro NextGen Enterprise Inc. (1)    USA
      Rizing Intermediate Holdings, Inc. (1)    USA
      Wipro Appirio, Inc. (1)    USA

 

3


      Wipro Designit Services, Inc. (1)    USA
      Wipro Telecom Consulting LLC    USA
      Wipro VLSI Design Services, LLC    USA
      Applied Value Technologies, Inc.    USA
Aggne Global IT Services Private Limited (3)          India
Wipro, Inc.          USA
   Wipro Life Science Solutions, LLC       USA

The Company controls ‘The Wipro SA Broad Based Ownership Scheme Trust’, ‘Wipro SA Broad Based Ownership Scheme SPV (RF) (PTY) LTD’ incorporated in South Africa and Wipro Foundation in India. All the above direct subsidiaries are 100% held by the Company except as mentioned in footnote (2) and (3) below.

 

(2) 

Wipro IT Services UK Societas holds 66.67% of the equity securities of Wipro Arabia Limited. Wipro Arabia Limited holds 100% of the equity securities of Women’s Business Park Technologies Limited.

(3) 

The Company holds 60% of the equity securities of Aggne Global IT Services Private Limited and Wipro IT Services, LLC holds 60% of the equity securities of Aggne Global Inc.

(4) 

Wipro (Tianjin) Limited has been incorporated with effect from May 23, 2025, which is 100% held by Wipro Networks Pte Limited.

 

(1) 

Step Subsidiary details of Cardinal US Holdings, Inc., HealthPlan Services, Inc., International TechneGroup Incorporated, Wipro NextGen Enterprise Inc., Rizing Intermediate Holdings, Inc., The Capital Markets Company BV, Wipro Ampion Holdings Pty Ltd, Wipro Appirio, Inc., Wipro Designit Services, Inc., Wipro do Brasil Technologia Ltda and Wipro Portugal S.A. are as follows:

 

Subsidiaries

  

Subsidiaries

  

Subsidiaries

  

Country of
Incorporation

Cardinal US Holdings, Inc.          USA
   Capco Consulting Services LLC       USA
   Capco RISC Consulting LLC       USA
   The Capital Markets Company LLC       USA
HealthPlan Services, Inc.          USA
   HealthPlan Services Insurance Agency, LLC       USA
International TechneGroup Incorporated          USA
   International TechneGroup Ltd.       U.K.
   ITI Proficiency Ltd       Israel
   MechWorks S.R.L.       Italy
Wipro NextGen Enterprise Inc.          USA
   LeanSwift AB       Sweden
Rizing Intermediate Holdings, Inc.          USA
   Rizing Lanka (Private) Ltd       Sri Lanka
      Attune Netherlands B.V. (5)    Netherlands
   Rizing Solutions Canada Inc.       Canada
   Rizing LLC       USA
      Aasonn Philippines Inc.    Philippines
      Rizing B.V.    Netherlands
      Rizing Consulting Ireland Limited    Ireland
      Rizing Consulting Pty Ltd.    Australia
      Rizing Geospatial LLC    USA
      Rizing GmbH    Germany
      Rizing Limited    U.K.
      Rizing Consulting USA, LLC (formerly known as Rizing Consulting USA, Inc.)    USA
      Rizing Pte Ltd. (5)    Singapore
The Capital Markets Company BV          Belgium
   CapAfric Consulting (Pty) Ltd       South Africa
   Capco Belgium BV       Belgium
   Capco Consultancy (Malaysia) Sdn. Bhd       Malaysia
   Capco Consultancy (Thailand) Ltd       Thailand
   Capco Consulting Singapore Pte. Ltd       Singapore
   Capco Greece Single Member P.C       Greece
   Capco Poland sp. z.o.o       Poland

 

4


   The Capital Markets Company (UK) Ltd       U.K.
   The Capital Markets Company GmbH       Germany
      Capco Austria GmbH    Austria
   The Capital Markets Company Limited       Hong Kong
   The Capital Markets Company Limited       Canada
   The Capital Markets Company S.á.r.l       Switzerland
      Andrion AG    Switzerland
   The Capital Markets Company S.A.S       France
   The Capital Markets Company s.r.o       Slovakia
Wipro Ampion Holdings Pty Ltd          Australia
   Wipro Revolution IT Pty Ltd       Australia
   Wipro Shelde Australia Pty Ltd       Australia
Wipro Appirio, Inc.          USA
   Wipro Appirio (Ireland) Limited       Ireland
      Wipro Appirio UK Limited    U.K.
   Topcoder, LLC.       USA
Wipro Designit Services, Inc.          USA
   Wipro Designit Services Limited       Ireland
Wipro do Brasil Technologia Ltda          Brazil
   Wipro do Brasil Servicos Ltda       Brazil
   Wipro Do Brasil Sistemas De Informatica Ltda       Brazil
Wipro Portugal S.A.          Portugal
   Wipro Technologies GmbH       Germany
      Wipro Business Solutions GmbH (5)    Germany
      Wipro IT Services Austria GmbH    Austria

 

(5) 

Step Subsidiary details of Attune Netherlands B.V., Rizing Pte Ltd. and Wipro Business Solutions GmbH are as follows:

 

Subsidiaries

  

Subsidiaries

  

Subsidiaries

  

Country of
Incorporation

Attune Netherlands B.V.          Netherlands
   Rizing Germany GmbH       Germany
   Attune Italia S.R.L       Italy
   Attune UK Ltd.       U.K.
Rizing Pte Ltd.          Singapore
   Rizing New Zealand Ltd.       New Zealand
   Rizing Philippines Inc.       Philippines
   Rizing SDN BHD       Malaysia
   Rizing Solutions Pty Ltd       Australia
Wipro Business Solutions GmbH          Germany
   Wipro Technology Solutions S.R.L       Romania

As at June 30, 2025, the Company held 43.7% interest in Drivestream Inc. and 27% interest in SDVerse LLC, accounted for using the equity method.

The list of controlled trusts are:

 

Name of the entity

  

Country of incorporation

Wipro Equity Reward Trust    India
Wipro Foundation    India

Vide the order dated June 06, 2025, the Hon’ble National Company Law Tribunal, Bengaluru bench, approved the scheme of amalgamation for the merger of wholly owned subsidiaries Wipro HR Services India Private Limited, Wipro Overseas IT Services Private Limited, Wipro Technology Product Services Private Limited, Wipro Trademarks Holding Limited and Wipro VLSI Design Services India Private Limited with Wipro Limited. As per the said scheme, the appointed date is April 1, 2025.

 

6.

Segment Information

The Company is organized into the following operating segments: IT Services and IT Products.

IT Services: The IT services segment primarily consists of IT services offerings to customers organized by four Strategic Market Units (“SMUs”) - Americas 1, Americas 2, Europe and Asia Pacific Middle East and Africa (“APMEA”).

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

 

5


Americas 1 includes the entire business of Latin America (“LATAM”) and the following industry sectors in the United States of America: Communication, Media and Networks, Technology Software and Gaming, Technology New Age, Health, and Consumer. Americas 2 includes the entire business in Canada and the following industry sectors in the United States of America: Banking and Financial services, Energy, Manufacturing and Resources, Capital markets and Insurance, and Hi-tech. Europe consists of the United Kingdom and Ireland, Switzerland, Germany and Western Europe. APMEA consists of Australia and New Zealand, Southeast Asia, Japan, India, the Middle East, and Africa.

Revenue from each customer is attributed to the respective SMUs based on the location of the customer’s primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer’s buying centers, but the total revenue related to these strategic global customers are attributed to a single SMU based on the geographical location of key decision makers.

Our IT Services segment provides a range of IT and IT enabled services which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure services, business process services, cloud, mobility and analytics services, research and development and hardware and software design.

IT Products: The Company is a value-added reseller of security, packaged and SaaS 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 these items is reported as revenue from the sale of IT Products.

The Chief Executive Officer (“CEO”) and Managing Director of the Company has been identified as the Chief Operating Decision Maker as defined by IFRS 8, “Operating Segments”. The CEO of the Company evaluates the segments based on their revenue growth and operating income.

Assets and liabilities used in the Company’s business are not identified to any of the operating segments, as these are used interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.

Information on reportable segments for the three months ended June 30, 2025, March 31, 2025, June 30, 2024, and year ended March 31, 2025 are as follows:

 

     Three months ended      Year ended  
     June 30,
2025
     March 31,
2025
     June 30,
2024
     March 31,
2025
 

Particulars

   Audited      Audited      Audited      Audited  

Segment revenue

           

IT Services

           

  

Americas 1

     73,097      73,721      67,700      281,824
  

Americas 2

     67,070      68,582      67,338      271,972
  

Europe

     56,817      58,552      60,422      240,077
  

APMEA

     23,816      23,598      23,503      94,351
     

 

 

    

 

 

    

 

 

    

 

 

 

Total of IT Services

     220,800      224,453      218,963      888,224
  

IT Products

     728      813      469      2,692
     

 

 

    

 

 

    

 

 

    

 

 

 

Total segment revenue

     221,528      225,266      219,432      890,916
     

 

 

    

 

 

    

 

 

    

 

 

 

Segment result

           

IT Services

           
  

Americas 1

     14,994      16,195      13,687      58,186
  

Americas 2

     13,385      15,513      15,533      61,326
  

Europe

     6,026      8,140      5,873      29,434
  

APMEA

     2,979      3,672      2,441      12,850
  

Unallocated

     750      (4,250      (1,477      (10,157
     

 

 

    

 

 

    

 

 

    

 

 

 

Total of IT Services

     38,134      39,270      36,057      151,639

IT Products

     20      28      (47      (173

Reconciling Items

     (2,430      (211      59      (195
     

 

 

    

 

 

    

 

 

    

 

 

 

Total segment result

     35,724      39,087      36,069      151,271
     

 

 

    

 

 

    

 

 

    

 

 

 

Finance expenses

     (3,608      (3,767      (3,288      (14,770

Finance and other income

     10,417      11,819      7,480      38,202

Share of net profit/ (loss) of associate and joint venture accounted for using the equity method

     50      291      (45      254
     

 

 

    

 

 

    

 

 

    

 

 

 

Profit before tax

     42,583      47,430      40,216      174,957
     

 

 

    

 

 

    

 

 

    

 

 

 

Notes:

  a)

“Reconciling Items” includes elimination of inter-segment transactions and other corporate activities.

  b)

Revenue from sale of Company owned intellectual properties is reported as part of IT Services revenues.

 

6


  c)

For the purpose of segment reporting, the Company has included the net impact of foreign exchange gains/(losses), net in revenues amounting to  182,  224, and  (206) for the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively,  32 for the year ended March 31, 2025, which is reported under foreign exchange gains/(losses), net in the consolidated financial results.

  d)

Restructuring cost of  2,469 for the three months ended June 30, 2025, and  Nil for three months ended March 31, 2025, June 30, 2024 and  Nil for the year ended March 31, 2025, is included under Reconciling Items.

  e)

“Unallocated” within IT Services segment results is after recognition of the below:

 

     Three months ended      Year ended  
   June 30,
2025
     March 31,
2025
     June 30,
2024
     March 31,
2025
 

Amortization and impairment expenses on intangible assets

     1,625      1,631      1,782      7,909
  

 

 

    

 

 

    

 

 

    

 

 

 

Change in fair value of contingent consideration

     48      (2      —       (169
  

 

 

    

 

 

    

 

 

    

 

 

 

 

  f)

Segment results of IT Services segment are after recognition of share-based compensation expense  436,  1,195 and  1,329 for the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively and  5,542 for the year ended March 31, 2025.

  g)

Segment results of IT Services segment are after recognition of (gain)/loss on sale of property, plant and equipment of  (66),  160 and  (23) for the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively, and  (606) for the year ended March 31, 2025.

 

7.

During the year ended March 31, 2025, decline in revenue and earnings estimates led to revision of recoverable value of customer-relationship intangible assets and marketing related intangible assets recognized on business combinations. Consequently, the Company has recognized impairment charge of  1,155 for the year ended March 31, 2025, as part of amortization and impairment.

 

8.

Earnings per share for the three months ended June 30, 2024, have been proportionately adjusted for the bonus shares issued during the year ended March 31, 2025, in the ratio of 1:1 i.e. 1 (one) bonus equity share of  2 each for every 1 (one) fully paid-up equity shares held (including ADS holders).

 

9.

Events after the reporting period

The Board of Directors in their meeting held on July 17, 2025, declared an interim dividend of  5 /- (U.S.$ 0.06) per equity share and ADR (250% on an equity share of par value of  2 /-).

 

By order of the Board,    For, Wipro Limited

Place: Bengaluru

Date: July 17, 2025

  

Rishad A. Premji

Chairman

 

7