e6vk

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934

For the month of January 2010

Commission File Number 001-16139

Wipro Limited

(Exact name of Registrant as specified in its charter)

Not Applicable
(Translation of Registrant’s name into English)

Karnataka, India
(Jurisdiction of incorporation or organization)

Doddakannelli
Sarjapur Road
Bangalore, Karnataka 560035, India +91-80-2844-0011
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:

Form 20-F þ Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes o No þ

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes o No þ

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION

We hereby furnish the Commission with copies of the following information concerning our public disclosures regarding our results of operations for the quarter ended December 31, 2009. The following information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

On January 20, 2010, we announced our results of operations for the three months ended December 31, 2009. We issued press releases announcing our results under IFRS and Indian GAAP, copies of which are attached to this Form 6-K as Item 1 and Item 2.

On January 2010, we held a press conference to announce our results. The presentation made by the registrant at the press conference is attached to this Form 6-K as Item 3.

We placed advertisements in certain Indian newspapers concerning our results of operations for the three months ended December 31, 2009 under Indian GAAP. A copy of the form of this advertisement is attached to this Form 6-K as Item 4.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly organized.


	Wipro Limited

	/s/ Suresh C. Senapaty
	Suresh C. Senapaty
Dated: January 20, 2010	Chief Financial Officer & Director

INDEX TO EXHIBITS


Item
1.		IFRS Press Release
2.		Indian GAAP Press Release
3.		Presentation made by the Company at the Press Conference on January 20, 2010
4.		Form of Advertisement Placed in Indian Newspapers

Item 1

FOR IMMEDIATE RELEASE
Contact: Sridhar Ramasubbu
Wipro Limited
408-242-6285

Results for the quarter ended December 31, 2009 under IFRS

Wipro Records 19% YoY Growth in Profit After Tax
IT Services Business crosses the 100,000 employee mark

Bangalore, India and East Brunswick, New Jersey, USA — January 20, 2010 — Wipro Limited (NYSE:WIT) today announced financial results under IFRS for its third fiscal quarter ended December 31, 2009.

Highlights of the Results:

	•		IT Services Revenue in dollar terms was $1,126.8 million, a growth of 5.8% sequentially and 2.4% YoY.

	•		IT Services Revenue on a constant currency basis was $1,117.1 million, a sequential growth of 4.9%. On a constant currency basis, YoY decline was 0.8%.

	•		Total Revenues were Rs. 69.77 billion ($1.50 billion¹), representing an increase of 6% over the same period last year.

	•		Net Income was Rs. 12.03 billion ($259 million¹), representing an increase of 19% over the same period last year.

	•		Non-GAAP Adjusted Net Income (excluding impact of accelerated amortization of stock based compensation) was Rs. 12.06 billion ($260 million¹), representing an increase of 19% over the same period last year.

	•		IT Services Revenues were Rs. 51.65 billion ($1,113 million¹), representing an increase of 2% over the same period last year.

	•		IT Services Earnings Before Interest and Tax (EBIT) was Rs. 12.18 billion ($263 million¹), representing an increase of 17% over the same period last year.

	•		IT Services added 31 new clients in the quarter.

	•		IT Products Revenue grew 22% over the same period last year and EBIT grew by 50%.

	•		IT Services business had a net addition of 4,855 employees.

	•		Consumer Care and Lighting Revenue grew 18% over the same period last year, and EBIT grew 20%.

Performance for the Quarter ended December 31, 2009 and Outlook for our Quarter ending March 31, 2010

Azim Premji Chairman of Wipro, commenting on the results said —

For the convenience of the reader, the amounts in Indian rupees in this release have been translated into United States dollars at the noon buying rate in New York City on December 31, 2009, for cable transfers in Indian rupees, as certified by the Federal Reserve Board of New York, which was US $1=Rs.46.40. However, the realized exchange rate in our IT Services business segment for the quarter ended December 31, 2009 was US$1=Rs.45.84

positive. For the quarter ending March 31, 2010, we expect revenues from our IT Services business to be in the range of $1,161 million to $1,183 million.*”

Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said —

“We reported another strong quarter driven by significant uptick in volumes. We have maintained margins despite a decrease in our rate realization and a strong appreciation of the rupee. Our Order Booking has been good and BFSI has bounced back strongly.”

* Guidance is based on the following constant currency exchange rates: GBP/USD at 1.63, Euro/USD at 1.46, AUD/USD at 0.91, USD/INR at 46.64

Wipro Limited

Total Revenue for our quarter ended December 31, 2009 was Rs. 69.77 billion ($1.50 billion¹), representing an increase of 6% over the same period last year. Net Income for our quarter ended December 31, 2009 was Rs.12.03 billion ($259 million¹), representing an increase of 19% over the same period last year. Net Income for our quarter ended December 31, 2009 on an Adjusted Non-GAAP basis (excluding impact of accelerated amortization of stock based compensation) was Rs. 12.06 billion ($260 million¹), representing an increase of 19% over the same period last year. Earnings per Share for our quarter ended December 31, 2009 were Rs 8.25 ($0.18¹), representing an increase of 19% over the same period last year. Non-GAAP Adjusted Net Income (excluding the impact of accelerated amortization of stock based compensation) per Share for our quarter ended December 31, 2009 were Rs. 8.27 ($0.18¹⁾, representing an increase of 19% over the same period last year.

Reconciliation between IFRS net income and Non-GAAP adjusted net income (excluding impact of accelerated stock based compensation) is provided in the table on page 8.

IT Services (74% of Total Revenue and 90% of Operating Income for our quarter ended December 31, 2009)

Our IT Services business segment recorded Revenue of Rs. 51.65 billion² ($1,113 million¹) for our quarter ended December 31, 2009, representing an increase of 2% over the same period last year. EBIT for this segment was Rs. 12.18 billion ($263 million¹) for our quarter ended December 31, 2009, representing an increase of 17% over the same period last year.

Our Operating Income to Revenue for this segment was 23.6% for our quarter ended December 31, 2009.

We had 102,746 employees as of December 31, 2009, an increase of 4,855 people.

Wipro’s ability to offer integrated Service lines and be a transformational partner to our clients helped us secure several large deals this quarter. Our focus in driving consulting led engagements to solve business challenges is being recognized by our customers.


2		IT Services business segment Revenue was Rs. 51.64 billion for the quarter ended December 31, 2009 under the Indian GAAP. The difference of Rs.12 million ($0.26 million¹) is primarily attributable to differences in accounting standards under Indian GAAP and IFRS.

A large Europe-based global steel manufacturer is leveraging Wipro’s business transformation expertise to engage in business driven initiatives during a period of strategic restructuring. This multi-year strategic program for the customer would help it achieve significant business and operational benefits.

Wipro entered into a multi-year outsourcing engagement with a leading Global tobacco group, to help the customer improve the effectiveness and efficiency of application support services for its global business operations.

Our India & Middle East business registered some strong wins during the quarter. Wipro Arabia won a very large order from an upcoming university in Saudi Arabia for end-to-end set up of their IT and Telecom infrastructure. Wins in the infrastructure segment also include turnkey implementation of State Data Center projects for Gujarat and Maharashtra, end-to-end implementation of a Data Center for Shipping Corporation of India (SCI), and upgrade and enhancement of the Primary Data Center and Disaster Recovery Infrastructure for Oriental Bank of Commerce. Another prestigious win in the government sector was a turnkey project for implementation of FINnet (Financial intelligence network) for tracking money laundering, financing of unlawful activities and other economic crimes occurring within the country for Financial Intelligence Unit, Ministry of Finance, India.

Awards and Recognition

Wipro’s commitment to mitigating the effects of climate change and furthering the Green IT agenda was recognized by Asia Case Research Center (ACRC), a premier portal for teaching case studies that has written a case study on Wipro’s Green IT initiatives. ACRC is the nodal agency for all research cases and this case study will get syndicated across premier universities globally.

Wipro was recognized as a winner of the 2009 Global MAKE (Most Admired Knowledge Enterprises) Award for ‘developing knowledge workers through senior management leadership’ and ‘creating an environment for collaborative knowledge sharing’. This is the third time that Wipro has been recognized as a Global MAKE winner.

Wipro’s website, www.wipro.com was awarded the 5th Annual Davey Award, for outstanding work in digital design by The International Academy of Visual Arts.

Wipro won the Outsourcing Institute and Vantage Partners’ RMMY award for Best Performance Management Process. Wipro has been recognized by this award for the second consecutive year in a row.

The Wipro Brand continued to set high benchmarks in the industry. Wipro was ranked 8th in the India’s most valuable Brand (2009) study carried out by Brand Finance, a global Brand Valuation firm for Economic Times.

Expanding our global footprint

In line with our globalization strategy, we announced the inauguration of our global delivery centre at Chengdu, China to provide IT & BPO services to our customers. This new center, in addition to our Shanghai center, will increase Wipro’s service capabilities in the region.

We also announced the expansion of our Atlanta development center. The center will continue to focus on delivering world-class services and creating new job opportunities in the local community.

IT Products (14% of Total Revenue and 4% of Operating Income for our quarter ended December 31, 2009)

Our IT Products business segment recorded Revenue of Rs. 10.11 billion ($218 million¹) for our quarter ended December 31, 2009, recording growth of 22% over the same period last year. EBIT for this segment was Rs. 603 million ($12.99 million¹) for our quarter ended December 31, 2009.

Our Operating Income to Revenue for this segment was 6.0% for our quarter ended December 31, 2009.

Return on Capital Employed (ROCE) for our IT Services and Products segment was 46% for our quarter ended December 31, 2009, compared to 46% for the same period last year.

Consumer Care and Lighting (8% of Total Revenue and 6% of Operating Income for our quarter ended December 31, 2009)

Our Consumer Care and Lighting business segment recorded Revenue of Rs. 5.74 billion ($124 million¹) for our quarter ended December 31, 2009, representing an increase of 18% over the same period last year. EBIT for this segment was Rs. 747 million ($16.11 million¹) for our quarter ended December 31, 2009, representing an increase of 20% over the same period last year.

Our Operating Income to Revenue for this segment was 13.0% for our quarter ended December 31, 2009. ROCE for this segment was 16% for our quarter ended December 31, 2009, compared to 13% for the same period last year.

During the quarter, Wipro completed its acquisition of the Yardley business in Asia, Middle East, Australasia and certain African markets from the UK-based Lornamead Group. The revenues of Yardley have been consolidated with Wipro from December 9, 2009.

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.

The table on page 8 provides our Adjusted Net Income for the period, which is a non-GAAP measure that excludes the impact of accelerated amortization in respect of stock options that vest in a graded manner.

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 this non-GAAP financial measure with the most directly comparable IFRS financial measure should be carefully evaluated.

The Company believes that the presentation of this Non-GAAP Adjusted Net Income, when shown in conjunction with the corresponding IFRS measure, provides useful information to investors and

management regarding financial and business trends relating to its net income for the period. The Company considers a stock option award with the graded vesting schedule to be in substance a single award not multiple stock option awards. Further, the Company considers the services of the employee in each year covered by the stock option award to be equally valuable and accordingly believes that the straight line amortization reflects the economic substance of the stock awards. However, the Company records the related stock compensation expenses on an accelerated amortization basis for IFRS reporting. Therefore, we believe that making available an adjusted net income number that excludes the impact of accelerated amortization from net income provides useful supplemental information to both management and investors about our financial and business trends.

For our internal budgeting process, our management also uses financial statements that exclude the impact of accelerated amortization relating to stock options that vest in a graded manner. The management of the Company also uses Non-GAAP Adjusted Net Income, in addition to the corresponding IFRS measure, in reviewing our financial results.

A material limitation associated with the use of Non-GAAP Adjusted Net Income as compared to the IFRS measure of net income is that it does not include costs which are recurring in nature and may not be comparable with the calculation of net income for other companies in our industry. The Company compensates for these limitations by providing full disclosure of the effects of this non-GAAP measure, by presenting the corresponding IFRS financial measure and by providing a reconciliation to the corresponding IFRS measure.

Our results for the quarter ended December 31, 2009, computed under Indian GAAP and IFRS, along with our individual business segment reports, are available in the Investors section of our website at www.wipro.com.

Quarterly Conference Calls

We will hold conference calls today at 02:00 p.m. Indian Standard Time (03:30 a.m. US Eastern Time) and at 6:30 p.m. Indian Standard Time (8:00 a.m. US Eastern Time) to discuss our performance for the quarter and answer questions sent to email ID: sridhar.ramasubbu@wipro.com. 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 provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services company globally. Wipro’s IT Services business was assessed at Level 5 for CMMI V 1.2 across Offshore and Onsite development centers.

Wipro also has a strong presence in niche market segments of Infrastructure Engineering, and Consumer Products & Lighting.

Wipro’s ADS are listed on the New York Stock Exchange, and our equity shares are listed in India on the Stock Exchange — Mumbai, and the National Stock Exchange. For more information, please visit our websites at www.wipro.com, www.wiprocorporate.com and www.wipro.in

Forward-looking and Cautionary Statements

In addition to historical information, this press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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, 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)

WIPRO LIMITED AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
(Rupees in millions, except share and per share data, unless otherwise stated)


	As of March 31,			As of December 31,
	2009			2009			2009
							Convenience
							translation into
							US$ in millions
ASSETS
Goodwill		56,143			54,254			1,169
Intangible assets		3,493			4,152			89
Property, plant and equipment		49,794			53,074			1,144
Investment in equity accounted investees		1,670			1,991			43
Other non-current assets		10,675			9,021			194

Total non-current assets		121,775			122,492			2,640


Inventories		7,587			7,880			170
Trade receivables		48,652			50,035			1,078
Other current assets		15,083			18,334			395
Derivative assets		1,162			2,559			55
Unbilled revenues		14,108			16,385			353
Available for sale investments		16,543			39,855			859
Current tax assets		9,826			11,883			256
Cash and cash equivalents		49,117			42,563			917

Total current assets		162,078			189,494			4,084

TOTAL ASSETS		283,853			311,986			6,724


EQUITY
Share capital		2,930			2,935			63
Share premium		27,280			28,810			621
Retained earnings		126,646			153,664			3,312
Share based payment reserve		3,745			3,178			68
Other components of equity		(12,915	)		(6,623	)		(143	)
Shares held by control trust		(542	)		(542	)		(12	)

Equity attributable to the equity holders of the company		147,144			181,422			3,910
Minority Interest		237			393			8

Total equity		147,381			181,815			3,918


LIABILITIES
Long — term loans and borrowings		19,681			19,079			411
Employee benefit obligations		3,111			2,907			63
Other non-current liabilities		1,668			757			16

Total non-current liabilities		24,460			22,743			490


Loans and borrowings and bank overdrafts		37,211			35,849			773
Trade payables and accrued expenses		41,650			44,548			960
Unearned revenues		8,453			8,423			182
Current tax liabilities		6,492			7,666			165
Derivative liabilities		12,022			5,047			109
Other current liabilities		6,184			5,895			127

Total current liabilities		112,012			107,428			2,315



TOTAL LIABILITIES		136,472			130,171			2,805

TOTAL EQUITY AND LIABILITIES		283,853			311,986			6,724

WIPRO LIMITED AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED INTERIM STATEMENTS OF INCOME
(Rupees in millions, except share and per share data, unless otherwise stated)


	Three months ended December 31,									Nine months ended December 31,
	2008			2009			2009			2008			2009			2009
							Convenience									Convenience
							translation into									translation into
							US $ in millions									US $ in millions
Gross revenues		65,898			69,380			1,495			191,616			202,185			4,357

Cost of revenues		(46,409	)		(47,766	)		(1,029	)		(134,850	)		(138,534	)		(2,986	)

Gross profit		19,489			21,614			466			56,766			63,651			1,372

Selling and marketing expenses		(4,364	)		(4,817	)		(104	)		(12,996	)		(13,547	)		(292	)
General and administrative expenses		(4,191	)		(3,655	)		(79	)		(10,933	)		(11,183	)		(241	)
Foreign exchange gains/(losses), net		186			394			8			(792	)		(772	)		(17	)

Results from operating activities		11,120			13,536			292			32,045			38,149			822

Finance and other income / (expenses), net		452			721			16			1,001			1,757			38
Share of profits of equity accounted associates		114			128			3			327			354			8

Profit before tax		11,686			14,385			310			33,373			40,260			868
Income tax expense		(1,572	)		(2,321	)		(50	)		(4,574	)		(6,279	)		(135	)

Profit for the period		10,114			12,063			260			28,799			33,981			732

Attributable to:
Equity holders of the company		10,098			12,032			259			28,749			33,842			729
Minority interest		16			31			1			50			139			3

Profit for the period		10,114			12,063			260			28,799			33,981			732

Earnings per equity share:
Basic		6.94			8.25			0.18			19.78			23.23			0.50
Diluted		6.91			8.19			0.18			19.66			23.04			0.50

Weighted average number of equity shares used in computing EPS earnings per equity share
Basic		1,454,578,545			1,457,758,937			1,457,758,937			1,453,654,904			1,456,931,312			1,456,931,312
Diluted		1,461,046,302			1,469,303,689			1,469,303,689			1,462,331,122			1,469,028,352			1,469,028,352

Additional Information
Segment Revenue
IT Services		50,787			51,648			1,113			142,306			149,894			3,230
IT Products		8,269			10,114			218			25,516			29,305			632
IT Services & Products		59,056			61,762			1,331			167,822			179,199			3,862
Consumer Care and Lighting		4,864			5,743			124			14,447			16,500			356
Others		2,164			2,269			49			8,555			5,714			123
Total		66,084			69,774			1,504			190,824			201,413			4,341

Operating Income
IT Services		10,422			12,182			263			29,527			34,691			748
IT Products		401			603			13			1,071			1,504			32
IT Services & Products		10,823			12,784			276			30,598			36,195			780
Consumer Care and Lighting		621			747			16			1,896			2,272			49
Others		(324	)		5			0			(449	)		(318	)		(7	)
Total		11,120			13,536			292			32,045			38,149			822

Reconciliation of adjusted Non-GAAP profit to profit as per IFRS

Profit for the period as per IFRS		10,098			12,032			259			28,749			33,842			729

Adjustments :
Accelerated amortization of stock options that vest in a graded manner		(14	)		28			1			175			(101	)		(2	)


Non-GAAP adjusted profit		10,084			12,060			260			28,924			33,741			727

Item 2

FOR IMMEDIATE RELEASE

Results for the quarter ended December 31, 2009 under Consolidated Indian GAAP

Wipro Records 21% YoY Growth in Profit After Tax
IT Services Business crosses the 100,000 employee mark

Bangalore, January 20, 2010 —Wipro Limited today announced its audited results approved by the Board of Directors for the quarter ended December 31, 2009.

Highlights of the Results

•		Wipro Limited Revenue grew by 5% YoY to Rs. 69.66 billion (Rs. 6,966 Crores); Profit After Tax (PAT) grew by 21% YoY to Rs. 12.17 billion (Rs. 1,217 Crores).

•		IT Services Revenue at $1,126.8 million, a sequential growth of 5.8% and YoY growth of 2.4%.

•		IT Services Revenue in constant currency was $1,117.1 million, a sequential growth of 4.9%. On a constant currency basis, YoY decline was 0.8%.

•		In Rupee terms, Revenue for IT Services stood at Rs. 51.64 billion (Rs. 5,164 Crores), a YoY growth of 2% and sequential growth of 3.4%.

•		Profit Before Interest & Tax (PBIT) for IT Services segment was Rs. 12.27 billion (Rs. 1,227 Crores), a growth of 17% YoY.

•		IT Services business added 31 new clients during the quarter.

•		IT Services business had a net addition of 4,855 employees

•		IT Products business recorded 20% YoY growth in Revenues and 34% YoY growth in PBIT.

•		Wipro Consumer Care and Lighting business Revenue grew 14% YoY and PBIT grew 21% YoY.

Performance for the quarter ended December 31, 2009 and Outlook for quarter ending March 31, 2010

Azim Premji Chairman of Wipro, commenting on the results said —

“We have seen a positive demand environment which has driven broad based sequential growth across all our verticals, service lines and geographies. In 2010, we expect IT budgets to be flat to marginally positive. For the quarter ending March 31, 2010, we expect revenues from our IT Services business to be in the range of $1,161 million to $1,183 million.*”

Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said —

* Guidance is based on the following constant currency exchange rates: GBP/USD at 1.63, Euro/USD at 1.46, AUD/USD at 0.91, USD/INR at 46.64

Wipro Limited

Revenues for the quarter ended December 31, 2009, were Rs. 69.66 billion, a growth of 5% YoY. PAT for the quarter was Rs. 12.17 billion, a growth of 21% YoY.

IT Services

IT Services business reported Revenues of Rs. 51.64 billion for the quarter ended December 31, 2009, a growth of 2% YoY and PBIT of Rs. 12.27 billion, a growth of 17% YoY. Operating Income to Revenue for the quarter was 23.8%.

We had 102,746 employees as of December 31, 2009, an increase of 4,855 people.

IT Services business accounted for 74% of the Revenue and 90% of the PBIT for the quarter ended December 31, 2009.

Awards and Recognition

Wipro’s website, www.wipro.com was awarded the 5th Annual Davey Award, for outstanding work in digital design by The International Academy of Visual Arts.

Wipro won the Outsourcing Institute and Vantage Partners’ RMMY award for Best Performance Management Process. Wipro has been recognized by this award for the second consecutive year in a row.

The Wipro Brand continued to set high benchmarks in the industry. Wipro was ranked 8th in the India’s most valuable Brand ( 2009) study carried out by Brand Finance, a global Brand Valuation firm for Economic Times.

Expanding our global footprint

We also announced the expansion of our Atlanta development center. The center will continue to focus on delivering world-class services, and creating new job opportunities in the local community.

IT Products

For the quarter ended December 31, 2009, IT Products business recorded Revenues of Rs. 10.02 billion, representing a growth of 20% YoY. PBIT grew by 34% YoY to Rs. 579 million. Operating Income to Revenue for the quarter was 5.8%.

IT Products business accounted for 14% of the Revenue and 4% of the PBIT for the quarter ended December 31, 2009.

Consumer Care & Lighting

For the quarter ended December 31, 2009, our Consumer Care and Lighting business recorded Revenues of Rs. 6.01 billion, a growth of 14% YoY and PBIT of Rs. 740 million, a growth of 21% YoY. PBIT to Revenue was 12.3% for the quarter.

Consumer Care & Lighting business accounted for 9% of the Revenue and 5% of the PBIT for the quarter ended December 31, 2009.

During the quarter, Wipro completed its acquisition of the Yardley business in Asia, Middle East, Australasia and certain African markets from UK-based Lornamead Group. The revenues of Yardley have been consolidated with Wipro from December 9, 2009.

Wipro Limited

For the quarter ended December 31, 2009, the Return on Capital Employed in IT Services and Products business was 46% and Consumer Care & Lighting business was 16%. At the Company level, the Return on Capital Employed was 25%, lower due to inclusion of cash and cash equivalents of Rs. 91 billion in Capital Employed (39% of Capital Employed).

For Wipro Limited, Profit after Tax computed in accordance with IFRS for the quarter ended December 31, 2009 was Rs. 12.03 billion. The net difference between Profits computed in accordance with Indian GAAP and IFRS is primarily due to different Revenue recognition standards, amortization of intangible assets, and expensing of stock options.

For Wipro Limited, Non-GAAP adjusted Profit after Tax under IFRS for the quarter ended December 31, 2009 was Rs. 12.06 billion. The net difference between Profits computed in accordance with Indian GAAP and IFRS Non-GAAP adjusted is primarily due to different Revenue recognition standards and amortization of intangible assets.

IT Services segment’s Revenues were Rs. 51.65 billion for the quarter ended December 31, 2009, under IFRS. The difference of Rs. 12 million is primarily attributable to difference in accounting standards under Indian GAAP and IFRS.

Quarterly Conference call

We will hold conference calls today at 02:00 p.m. Indian Standard Time (03:30 a.m. US Eastern Time) and at 6:30 p.m. Indian Standard Time (8:00 a.m. US Eastern Time) to discuss our performance for the quarter and answer questions sent to email ID: rajendra.shreemal@wipro.com. 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 also has a strong presence in niche market segments of Infrastructure Engineering, and Consumer Products & Lighting.

IFRS GAAP financials on website

Condensed financial statements of Wipro Limited computed under the IFRS GAAP along with individual business segment reports are available in the Investor Relations section at www.wipro.com.


Contact for Investor Relations		Contact for Media & Press
Rajendra Kumar Shreemal		Radha Radhakrishnan
Vice President		Senior Manager
Phone: +91-80-2844-0079		+91-80-2844-0378
Fax: +91-80-2844-0051		+91-80-2844-0350
rajendra.shreemal@wipro.com		radha.rk@wipro.com

Forward-Looking and Cautionary Statements

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

WIPRO LIMITED, CONSOLIDATED
AUDITED SEGMENT REPORT FOR THE QUARTER & NINE MONTHS ENDED DECEMBER 31, 2009


																			*Rs. in Million*

																			Year ended
Particulars	Quarter ended December 31,									Nine months ended December 31,									March 31,
							Variance									Variance
	2009			2008			(%)			2009			2008			(%)			2009
Revenues
IT Services		51,636			50,792			2	%		149,841			142,338			5	%		191,661
IT Products		10,016			8,369			20	%		29,451			25,854			14	%		34,552
Consumer Care and Lighting		6,010			5,270			14	%		17,339			15,666			11	%		20,830
Others		2,047			1,919						5,108			7,675						9,144
Eliminations		(47	)		(167	)					(167	)		(609	)					(745	)

TOTAL		69,662			66,183			5	%		201,572			190,924			6	%		255,442

Profit before Interest and Tax — PBIT
IT Services		12,273			10,449			17	%		34,920			29,594			18	%		40,323
IT Products		579			431			34	%		1,491			1,109			34	%		1,481
Consumer Care and Lighting		740			613			21	%		2,252			1,865			21	%		2,548
Others		30			(242	)					(419	)		(38	)					(348	)

TOTAL		13,622			11,251			21	%		38,244			32,530			18	%		44,004

Interest and Other Income, Net		704			295						1,706			882						1,192

Profit before tax		14,326			11,546			24	%		39,950			33,412			20	%		45,196

Income Tax expense including Fringe Benefit Tax		(2,291	)		(1,605	)					(6,238	)		(4,792	)					(6,460	)

Profit before share in earnings of associates and minority interest		12,035			9,941			21	%		33,712			28,620			18	%		38,736
Share in earnings of associates		170			114						376			327						362
Minority interest		(31	)		(16	)					(139	)		(50	)					(99	)

PROFIT AFTER TAX		12,174			10,039			21	%		33,949			28,897			17	%		38,999

Operating Margin
IT Services		23.8	%		20.6	%					23.3	%		20.8	%					21.0	%
IT Products		5.8	%		5.1	%					5.1	%		4.3	%					4.3	%
Consumer Care and Lighting		12.3	%		11.6	%					13.0	%		11.9	%					12.2	%

TOTAL		19.55	%		17.0	%					19.0	%		17.0	%					17.2	%

CAPITAL EMPLOYED AS AT PERIOD END
IT Services and Products		113,603			95,102						113,603			95,102						114,448
Consumer Care and Lighting		19,709			18,848						19,709			18,848						18,689
Others		100,671			67,734						100,671			67,734						60,292

TOTAL		233,983			181,684						233,983			181,684						193,429

CAPITAL EMPLOYED COMPOSITION AS AT PERIOD END
IT Services and Products		49	%		52	%					49	%		52	%					59	%
Consumer Care and Lighting		8	%		10	%					8	%		10	%					10	%
Others		43	%		38	%					43	%		38	%					31	%

TOTAL		100	%		100	%					100	%		100	%					100	%

RETURN ON AVERAGE CAPITAL EMPLOYED DURING THE PERIOD
IT Services and Products		46	%		46	%					43	%		43	%					40	%
Consumer Care and Lighting		16	%		13	%					16	%		14	%					14	%

TOTAL		25	%		25	%					24	%		25	%					25	%

Notes to Segment Report

a)		The segment report of Wipro Limited and its consolidated subsidiaries and associates has been prepared in accordance with the AS 17 “Segment Reporting” issued pursuant to the Companies (Accounting Standard) Rules, 2006 and by The Institute of Chartered Accountants of India.

b)		Segment wise depreciation is as follows:


	*(Rs in Million)*
	Quarter ended				Nine months ended				Year ended
Particulars	December 31,				December 31,				March 31,
	2009		2008		2009		2008		2009
IT Services		1,703		1,566		5,108		4,430		6,067
IT Products		21		7		57		39		88
Consumer Care & Lighting		106		109		345		302		420
Others		93		71		227		222		289

		1,923		1,753		5,737		4,993		6,864

c)		Segment PBIT includes Rs (29) Million and Rs. 355 Million for the quarter and nine months ended December 31, 2009, respectively (quarter and nine months ended December 31, 2008: Rs 160 Million and Rs. 427 Million respectively, March 31, 2009: Rs 581 million) of certain operating other income / (loss) which is reflected in other income in the Financial Statements.

d)		Capital employed of segments is net of current liabilities. The net current liability of segments is as follows :

(Rs in Million)

As of

Year ended

Particulars

December 31,

March 31,

2009

2008

2009

IT Services and Products

50,940

58,156

58,635

Consumer Care & Lighting

4,974

4,421

4,026

Others

19,588

17,264

22,494

75,502

79,841

85,155

The Company has four geographic segments: India, USA, Europe and Rest of the World. Significant portion of the segment assets are in India. Revenue from geographic segments based on domicile of the customers is outlined below:


	*(Rs in Million)*
					Quarter ended				Nine months ended								As of
Particulars	December 31,								December 31,						March 31,
	2009		%		2008		%		2009		%		2008		%		2009		%
India		15,446		22		13,335		20		45,389		23		41,247		22		54,608		21
United States of America		29,879		43		30,752		46		89,190		44		85,052		45		115,105		45
Europe		14,543		21		14,663		23		41,578		21		43,776		23		57,109		22
Rest of the world		9,794		14		7,433		11		25,415		12		20,849		10		28,620		12

		69,662		100		66,183		100		201,572		100		190,924		100		255,442		100

For the purpose of reporting, business segments are considered as primary segments and geographic segments are considered as secondary segments.

Item 3

Performance of Wipro Limited for the Quarter endedDecember 31, 2009 January 20, 2010Suresh C SenapatyExecutive Director & Chief Financial Officer

20th January, 2010Financial Summary for the Quarter endedDec 31, 2009 (Indian GAAP) Wipro Limited (Consolidated) Particulars Revenue Growth Rs. Crores YoY Revenue 6,966 5% Profits Before Interest & Tax 1,3622 1% Profits After Tax1, 2172 1% Key Segmental Results Segment Revenue Growth PBIT Growth Rs. Crores YoY Rs. Crores YoY IT Services 5,164 2% 1,227 17% IT Products 1,002 20% 58 34% Consumer Care & Lighting 601 14% 74 21%

Highlights for the Quarter –IT Services •Positive Demand Environment •Stable Operating Margins •Reported revenue at $1,127Mn,sequential growth of 5.8% •Constant currency revenue at $1,117Mn, sequential growth of 4.9% •Margin at 23.8% , flat QoQand 3.2% expansion YoY •Revenues from Fixed Price Projects improved 2.2% sequentially to 42.5% •Gross utilization increased 233bps sequentially to 73.2%

Revenue Dynamics –IT Services Service Lines: TIS grew 9% sequentially & 12% YoY

Product Engineering Services grew 9% sequentially, while BPO grew 7% sequentially

Geographies:

Europe grew 5% sequentially

India & Middle East business grew 16% sequentially & 22% YoY

Other Emerging Markets (which include APAC and Australia) grew 20% sequentially and 57% yoy

Verticals:

Healthcare & Services grew 14% while Energy & Utilities grew 12%, sequentially

Financial Services grew 7% sequentially while Communication & Media Service Provider grew 8%

IT Services –Awards & Recognition

AwardsandRecognition:

Wonthe2009GlobalMAKE(MostAdmiredKnowledgeEnterprises)Awardforathirdtime,for‘developing knowledgeworkersthroughseniormanagementleadership’and‘creatinganenvironmentforcollaborative knowledgesharing’

Awardedthe5thAnnualDaveyAwardbytheInternationalAcademyofVisualArtsforoutstandingworkin digitaldesign

Wasranked8thinIndia’smostvaluableBrand(2009)studycarriedoutbyBrandFinance,aglobalbrand valuationfirmforEconomicTimes

CommitmenttomitigatingeffectsofclimatechangeandfurtheringthegreenITagendarecognizedbyA siaCaseResearchCentre(ACRC),apremierportalforteachingcasestudiesthathaswrittenacasestudyonW ipro’sgreenITinitiatives

WontheOutsourcingInstituteandVantagePartners’RMMYawardforBestPerformanceManagementProc essforthesecondyearinsuccession

IT Services –Deal Wins

Multi-year strategic program with large Europe-based global steel manufacturer, to leverage our business transformation expertise in strategic restructuring for the client

Multi-year outsourcing engagement with leading global tobacco group to improve the effectiveness and efficiency of the application support services for its global operations

India & Middle East business registered some strong wins

Wipro Arabia won a very large order from an upcoming university in Saudi Arabia for end-to-end set up of their IT infrastructure

Turnkey implementation in infrastructure segment of State Data Center projects for Gujarat and Maharashtra

End-to-end implementation of a datacenter for Shipping Corporation of India, and upgrade of disaster recovery infrastructure for Oriental Bank of Commerce

Other Highlights WiproConsumerCareandLighting(WCCL)

ConsumerCareandLightingbusinessrecordedRevenuesofRs.6.01billion,agrowthof14%YoYandPB ITofRs.740million,agrowthof21%YoY.

InternationalBusinesshadagreatquarterwithleadinggrowthinVietnam,ChinaandIndonesia.

Yardleyacquisitioninpersonalcarecategorywhichwasearlierannouncedbyuson5thNov09hasbee nconsolidatedforreportingsince9thDec2009.

Santoor,ourflagshipbrand,remainsthe#1toiletsoapbrandinSouthIndiabothinurbanandrural.

WiproInfrastructureEngineering(WIN)

WehaveseenrobustrecoveryinIndia.

Europemarkethasbottomedout.Wehavegrownourmarketsharethroughtherecession.

WIN-Eco-energy:

We continue to make big strides in this start-up business.

We won the first contracts for consulting and implementation of utility scale SolarPhoto Voltaic Plants.

Our confidence in our business model has increased significantly, validated by the market.

This business model is that of consulting led multi-technology solutions for renewable energy and energy efficiency.

Summary Positive Demand Environment

•Broad based growth driven by significant uptick in volumes Solid Execution

•Stable margins despite the lesser number of working days, shutdowns and strong rupee appreciation Robust deal funnel

•Deal pipeline remains among the strongest we have seen Our portfolio of services

•Our broad portfolio of services and strong delivery excellence continues to position us as a partner of choice with customers, as they focus on capital conservation and cost transformation

Investment

We continue to ‘invest’ –In new Technologies, In new Solutions, In people, In Non-linearity

We see greater traction from our strategic acquisitions

Looking ahead Looking ahead, for the quarter ending March 31, 2010, we expect the Revenue from our IT Services business to be in the range $1161Mn* to $1183Mn*

*Based on constant currency exchange rates of GBP/USD at 1.63, Euro/USD at 1.46, AUD/USD at 0.91, USD/INR at 46.64

Supplemental Data

Financial Results as per IFRS

Key Operating Metrics in IT Services

Financial Summary for the Quarter endedDecember 31, 2009 (IFRS) Wipro Limited (Consolidated) Particulars Revenue Growth Rs. Crores YoY Revenue 6,977 6% Profits Before Interest & Tax1,354 22% Profits After Tax1, 203 19% Key Segmental Results Segment Revenue Growth PBIT Growth Rs. Crores YoY Rs. Crores YoY IT Services5,165 2% 1,218 17% IT Products1,011 22% 61 51% Consumer Care & Lighting 574 18% 75 20%

Key Operating Metrics in IT Services for the Quarter ended December 31, 2009

ParticularsQ3 10 Q2 10Q3 09

Revenue Composition:Technology, Media & TelecomFinancial ServicesManufacturingHealthcare& ServicesRetail& TransportationEnergy& Utilities

26.1% 26.4%28.8%

25.8%25.7%26.0% 15.1%15.6%15.3%

8.7%8.1%7.3% 14.8%15.2%14.5%

9.5%

9.0%

8.1% Geography Composition:

USEuropeJapanIndia& Middle East businessOther Emerging Markets57.1%58.4%60.0%26.3%26.5%26.1%1.6%1.6%

2.4% 8.9%8.1%7.5%Geography Composition:6.1%5.4%4.0%

Numberof employeesNet Additions1,02,74697,89196,965People related4855(630) (587)

Key Operating Metrics in IT Services for the Quarter ended December 31, 2009

ParticularsQ3 10 Q2 10Q3 09

Customer Concentration:Top CustomerTop 5Top 10 2.6%2.7%2.5%

10.8%11.3%11.3% 19.5%19.7%20.2%

Active CustomersNo. of New Customers Revenue fromNew Customers

8228408823137312.2%1.9% 3.3%ParticularsQ3 10 Q2 10Q3 09

Onsite Revenue (IT Services)Off Shore Revenue (IT Services)50.3%49.9%53.2%

49.7%

50.1%46.8% $50 M$20-50Mn$10 -$20Mn161616

373536 424837$5 -$10Mn

$3-$5Mn

615362Customer Size Distribution:

776480$1-$3MnTotal >$1Mn 165187205

398403436

Item 4

Wipro Limited Results for the Quarter & Nine months ended December 31, 2009

WIPRO LIMITED — CONSOLIDATED AUDITED SEGMENT
REPORT FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2009

(Rs. in Million except share data)


																			Year ended
	Quarter ended December 31,									Nine months ended December 31,									March 31,
Particulars	2009			2008			Variance (%)			2009			2008			Variance (%)			2009
Revenues
IT Services		51,636			50,792			2	%		149,841			142,338			5	%		191,661
IT Products		10,016			8,369			20	%		29,451			25,854			14	%		34,552
Consumer Care and Lighting		6,010			5,270			14	%		17,339			15,666			11	%		20,830
Others		2,047			1,919						5,108			7,675						9,144
Eliminations		(47	)		(167	)					(167	)		(609	)					(745	)
TOTAL		69,662			66,183			5	%		201,572			190,924			6	%		255,442
Profit before Interest and Tax — PBIT
IT Services		12,273			10,449			17	%		34,920			29,594			18	%		40,323
IT Products		579			431			34	%		1,491			1,109			34	%		1,481
Consumer Care and Lighting		740			613			21	%		2,252			1,865			21	%		2,548
Others		30			(242	)					(419	)		(38	)					(348	)
TOTAL		13,622			11,251			21	%		38,244			32,530			18	%		44,004
Interest and Other Income, Net		704			295						1,706			882						1,192
Profit Before Tax		14,326			11,546			24	%		39,950			33,412			20	%		45,196
Income Tax expense including Fringe Benefit Tax		(2,291	)		(1,605	)					(6,238	)		(4,792	)					(6,460	)
Profit before Share in earnings of associates and minority interest		12,035			9,941			21	%		33,712			28,620			18	%		38,736
Share in earnings of associates		170			114						376			327						362
Minority interest		(31	)		(16	)					(139	)		(50	)					(99	)
PROFIT AFTER TAX		12,174			10,039			21	%		33,949			28,897			17	%		38,999
EARNINGS PER SHARE — EPS
Equity shares of par value Rs. 2/- each
Basic (in Rs.)		8.35			6.90						23.30			19.87						26.81
Diluted (in Rs.)		8.30			6.89						23.15			19.79						26.72
Operating Margin
IT Services		23.8	%		20.6	%					23.3	%		20.8	%					21.0	%
IT Products		5.8	%		5.1	%					5.1	%		4.3	%					4.3	%
Consumer Care and Lighting		12.3	%		11.6	%					13.0	%		11.9	%					12.2	%
TOTAL		19.6	%		17.0	%					19.0	%		17.0	%					17.2	%
CAPITAL EMPLOYED AS AT PERIOD END
IT Services and Products		113,603			95,102						113,603			95,102						114,448
Consumer Care and Lighting		19,709			18,848						19,709			18,848						18,689
Others		100,671			67,734						100,671			67,734						60,292
TOTAL		233,983			181,684						233,983			181,684						193,429
CAPITAL EMPLOYED COMPOSITION AS AT PERIOD END
IT Services and Products		49	%		52	%					49	%		52	%					59	%
Consumer Care and Lighting		8	%		10	%					8	%		10	%					10	%
Others		43	%		38	%					43	%		38	%					31	%
TOTAL		100	%		100	%					100	%		100	%					100	%
RETURN ON AVERAGE CAPITAL EMPLOYED DURING THE PERIOD
IT Services and Products		46	%		46	%					43	%		43	%					40	%
Consumer Care and Lighting		16	%		13	%					16	%		14	%					14	%
TOTAL		25	%		25	%					24	%		25	%					25	%

Notes to Segment Report:


a)		The segment report of Wipro Limited and its consolidated subsidiaries and associates has been prepared in accordance with the AS 17 “Segment Reporting” issued pursuant to the Companies (Accounting Standard) Rules, 2006 and by The Institute of Chartered Accountants of India.

b)		Capital employed of segments is net of current liabilities. The net current liability of segments is as follows :

(Rs in Million)


	As of December 31,		Year ended March 31,
Particulars	2009	2008	2009
IT Services and Products	50,940	58,156	58,635
Consumer Care and Lighting	4,974	4,421	4,026
Others	19,588	17,264	22,494
TOTAL	75,502	79,841	85,155


c)		The Company has four geographic segments: India, USA, Europe and Rest of the World. Significant portion of the segment assets are in India. Revenue from geographic segments based on domicile of the customers is outlined below:

(Rs. in Million)


	Quarter ended December 31				Nine months ended December 31				As of March 31,
Particulars	2009	%	2008	%	2009	%	2008	%	2009	%
India	15,446	22	13,335	20	45,389	23	41,247	22	54,608		21
United States of America	29,879	43	30,752	46	89,190	44	85,052	45	115,105		45
Europe	14,543	21	14,663	23	41,578	21	43,776	23	57,109		22
Rest of the world	9,794	14	7,433	11	25,415	12	20,849	10	28,620		12
Total	69,662	100	66,183	100	201,572	100	190,924	100	255,442		100

d) For the purpose of reporting, business segments are considered as primary segments and geographic segments are considered as secondary segments.

e) Corresponding figures for previous period have been regrouped, where necessary, to confirm to the current period classification.

Notes to Audited Financial Statements:

The above audited consolidated interim financial results were approved by the Board of Directors of the Company at its meeting held on January 20, 2010.

Status of redressal of Complaints received for the period October 1, 2009 to December 31, 2009


			Opening balance	Complaints received	Complaints disposed
Sl. No.	Nature of the complaint	Nature	01.10.2009	during the quarter	during the quarter	Unresolved
1	Non-Receipt of Securities	Complaint	—	1	1	—
2	Non Receipt of Annual Reports	Complaint	—	7	7	—
3	Correction / Duplicate/ Revalidation of dividend warrants	Request	—	116	116	—
4	SEBI/Stock Exchange Complaints	Complaint	—	1	1	—
5	Non Receipt of Dividend warrants	Complaint	—	76	76	—
6	Financial confirmation statement of ADS holdings	Query	—	1	1	—
7	Others	Request	5	1	5	1
	TOTAL		5	203	207	1


*Note:*		*There are certain pending cases relating to disputes over title to shares in which the company has been made a party. However these cases are not material in nature.*

3.		The above consolidated interim financial results have been prepared from the audited condensed consolidated interim financial statements for the quarter and nine months ended December 31, 2009. The financial statements are prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historical cost convention on the accrual basis except for certain financial instruments, which are measured on a fair value basis. GAAP comprises Accounting Standards (AS), issued by the Institute of Chartered Accountants of India (ICAI) and other generally accepted accounting principles in India.

		The condensed consolidated interim financial statements have been prepared in accordance with the recognition, measurement and disclosure provisions of AS 25, Interim Financial Reporting, issued pursuant to the Companies (Accounting Standards) Rules, 2006 and by the ICAI. These financial statements should be read in conjunction with the consolidated annual financial statements of the Company for the year ended March 31, 2009.

WIPRO LIMITED — CONSOLIDATED
AUDITED FINANCIAL STATEMENTS FOR THE QUARTER
AND NINE MONTHS ENDED DECEMBER 31, 2009

(Rs. in Million except
share data)


		Quarter ended December 31,						Nine Months ended December 31,						Year ended March 31,
	Particulars	2009			2008			2009			2008			2009
		Audited			Audited			Audited			Audited			Audited
1	Net Income from Sales / Services		69,634			66,343			201,928			191,351			256,171
2	Cost of Sales / Services
	a) (Increase)/Decrease in stock in trade and work		(825	)		315			72			(747	)		(943	)
	in progress
	b) Consumption of raw materials		2,377			3,287			8,740			10,103			12,386
	c) Purchase of traded goods		11,495			7,335			28,838			25,195			34,327
	d) Other expenditure		32,626			33,690			95,250			95,033			127,108
3	Gross Profit (1-2)		23,961			21,716			69,028			61,767			83,292
4	General and Administrative expenses		3,520			4,309			11,282			11,070			14,746
5	Selling and Distribution expenses		4,897			4,405			13,763			13,172			17,531
6	Depreciation		1,923			1,753			5,737			4,993			6,864
7	Operating Profit before interest (3) - (4+5+6)		13,621			11,249			38,246			32,532			44,151
8	Interest expense		219			1,090			1,387			3,016			3,865
9	Exceptional Items		—			—			—			—			—
10	Operating Profit after interest and Exceptional Items (7-8-9)		13,402			10,159			36,859			29,516			40,286
11	Other Investment income		924			1,387			3,091			3,897			4,910
12	Profit from Ordinary Activities before tax (10+11)		14,326			11,546			39,950			33,413			45,196
13	Tax Expense (Including Fringe Benefits Tax)		2,291			1,605			6,238			4,792			6,460
14	Net Profit from Ordinary Activities after tax (12-13)		12,035			9,941			33,712			28,621			38,736
15	Minority Interest		(31	)		(16	)		(139	)		(50	)		(99	)
16	Share in Earnings of Associates		170			114			376			327			362
17	Extraordinary items (net of tax expense)		—			—			—			—			—
18	Net Profit for the period (14+15+16-17)		12,174			10,039			33,949			28,898			38,999
19	Paid up equity share capital (Face value Rs. 2 per share)		2,933			2,927			2,933			2,927			2,928
20	Reserves excluding Revaluation Reserves (as per balance sheet) of previous accounting year														133,356
21	EARNINGS PER SHARE (EPS)
	Before extraordinary items (not annualised)
	Basic (in Rs.)		8.35			6.90			23.30			19.87			26.81
	Diluted (in Rs.)		8.30			6.89			23.15			19.79			26.72
	After extraordinary items (not annualised)
	Basic (in Rs.)		8.35			6.90			23.30			19.87			26.81
	Diluted (in Rs.)		8.30			6.89			23.15			19.79			26.72
22	Public shareholding*
	Number of shares		275,058,920			270,633,754			275,058,920			270,633,754			271,856,435
	Percentage of holding		18.74	%		18.49	%		18.74	%		18.49	%		18.56	%
23	Promoters and promoter group shareholding
	a) Pledged/Encumbered
	- Number of shares	Nil			Nil			Nil			Nil			Nil
	- Percentage of shares (as a % of the total shareholding of promoter and promoter group)	Nil			Nil			Nil			Nil			Nil
	- Percentage of shares (as a % of the total share capital of the company)	Nil			Nil			Nil			Nil			Nil
	b) Non-encumbered
	- Number of shares		1,168,382,260	**		1,169,432,260	**		1,168,382,260	**		1,169,432,260	**		1,169,432,260	**
	- Percentage of shares (as a % of the total shareholding of promoter and promoter group)		100	%		100	%		100	%		100	%		100	%
	- Percentage of shares (as a % of the total share capital of the company)		79.61	%		79.89	%		79.61	%		79.89	%		79.83	%
	Details of expenditure
	Items exceeding 10% of total expenditure Employee Cost		25,772			28,012			79,403			79,360			107,065


*		Public shareholding as defined under clause 40A of the listing agreement (excludes shares beneficially held by promoters and holders of American Depository Receipt)

**		Includes 7,316,000 (December 31, 2008 and March 31, 2009: 8,316,000) equity shares on which Promoter does not have beneficiary interest.

Notes to Audited Financial Statements (Continued):

The accounting policies followed in preparation of the financial statements are consistent with those followed in the preparation of the consolidated annual financial statements of the Company for the year ended March 31, 2009.

4. The total revenues represent the aggregate segment revenue and includes all allocable other income and exchange differences which are reported in other income in the condensed consolidated interim financial statements. The exchange difference on foreign currency borrowings is included in interest expense.

In accordance with AS 21 ‘Consolidated interim financial Statements’ and AS 23 ‘Accounting for Investments in Associates in Consolidated interim financial Statements’ issued by ICAI, the condensed consolidated interim financial statements of Wipro Limited include the financial statements of all Subsidiaries of Wipro Limited which are more than 50% owned and controlled and Associates where the Company has significant influence.

The Company has adopted AS 30 and the limited revisions to other accounting standards which come into effect upon adoption of AS 30. AS 30 states that particular sections of other accounting standards; AS 4, Contingencies and Events Occurring after Balance sheet Date, to the extent it deals with contingencies, AS 11 (revised 2003), The Effects of Changes in Foreign Exchange Rates, to the extent it deals with the ‘forward exchange contracts’ and AS 13, Accounting for Investments, except to the extent it relates to accounting for investment properties, would stand withdrawn only from the date AS 30 becomes mandatory (April 1, 2011 for the Company).

Accordingly, the Company continues to comply with the guidance under these accounting standards; AS 4 — relating to Contingencies, AS 11 — relating to Forward Contracts and AS 13 — relating to Investments until AS 30 becomes mandatory.

As permitted by AS 30 and the consequent limited revisions to other accounting standards, the Company has designated a yen-denominated foreign currency borrowing amounting to JPY 25 Billion along with a floating for floating Cross-Currency Interest Rate Swap (CCIRS), as a hedging instrument to hedge its net investment in a non-integral foreign operation. In addition, the Company has also designated yen-denominated foreign currency borrowing amounting to JPY 8 Billion along with floating for fixed CCIRS as cash flow hedge of the yen- denominated borrowing and also as a hedge of net investment in a non-integral foreign operation.

ii)

Accordingly, the translation gain/ (loss) on the foreign currency borrowings and portion of the changes in fair value of CCIRS which are determined to be effective hedge of net investment in non-integral operation and cash flow hedge of yen-denominated borrowings aggregating to Rs 326 Million and Rs. 1,438 Million for the quarter and nine months ended December 31, 2009 respectively (quarter and nine months ended December 31, 2008: Rs. (677) Million and Rs. (2,493) Million respectively, March 31, 2009: Rs (3,044) Million) was recognised in translation reserve / hedging reserve in shareholders’ funds. The amount of gain/ (loss) of Rs 325 Million and Rs 1,396 Million for the quarter and nine months ended December 31, 2009 respectively (quarter and nine months ended December 31, 2008: Rs. (503) Million and Rs. (2,319) Million respectively, March 31, 2009: Rs (3,017) Million) recognised in translation reserve would be transferred to profit and loss account upon sale or disposal of non-integral foreign operations and the amount of gain / (loss) of Rs 1 Million and Rs 42 Million for the quarter and nine months ended December 31, 2009 respectively, (quarter and nine months ended December 31, 2008: Rs. (174) Million and Rs. (174) Million respectively, March 31, 2009: Rs (27) Million) recognised in the hedging reserve would be transferred to profit and loss upon occurrence of the hedged transaction. iii) In accordance with AS 11, if the Company had continued to recognize translation (losses)/ gains on foreign currency borrowing in the profit and loss account, the foreign currency borrowing would not have been eligible to be combined with CCIRS for hedge accounting. Consequently, the CCIRS also would not have qualified for hedge accounting and changes in fair value of CCIRS would have been recognised in the profit and loss account. As a result profit after tax would have been higher/ (lower) by Rs 326 Million and Rs 1,438 Million for the quarter and nine months ended December 31, 2009 respectively (quarter and nine months ended December 31, 2008: Rs. (677) Million and Rs. (2,493) Million respectively, March 31, 2009: Rs (3,044) Million).

In December 2009, the Company has entered into a sale and purchase agreement with Lornamead Group Limited to acquire the entire share capital of Lornamead FZE (an entity incorporated in Dubai) and Lornamead Personal Care Private Limited (an entity incorporated in India)for a upfront consideration of Rs. 1,764 Million. The Company has also paid Rs. 348 Million for acquisition of Yardley Trademark, which has been recorded as an intangible assets. Yardley is a strong heritage global brand established since 1770 in the personal care category with fragrance products, bath & shower products and skin care. This acquisition adds to the Company’s strong brand portfolio of personal care products and would increase its presence in the Middle East and other Asian markets. The Company has recorded a goodwill of Rs. 1,625 Million in respect of this acquisition.

The list of subsidiaries is included in the condensed consolidated financial statements of Wipro Limited and subsidiaries for the quarter ended December 31, 2009, which are available on our company website www.wipro.com.

Pursuant to Clause 41 (VI) (b) (iii) of the Listing Agreement, we inform that we have published consolidated financial results for the quarter ended December 31, 2009. The stand—alone financial results of Wipro Limited for the quarter ended December 31, 2009 and for the period April 1, 2009 to December 31, 2009 have been submitted to the stock exchanges and are available for perusal in our company website at www.wipro.com and in stock exchange’s website of both Mumbai Stock Exchange and National Stock Exchange of India Limited namely www.bseindia.com and www.nseindia.com

10.

Corresponding figures for previous periods presented have been regrouped, where necessary, to confirm to the current period classification.


Place: Bangalore Date: January 20, 2010 Chairman		By order of the board Azim H Premji		WIPRO LIMITED Regd. Office: Doddakannelli, Sarjapur Road, Bangalore — 560 035. www.wipro.com