Exhibit 99.12

Wipro Limited - Results for the six months period ended September 30, 2004

Wipro Limited - Consolidated Audited Segment-wise
Business performance for the quarter and six months period ended
September 30, 2004 (In Rs. Million)

	Quarter ended								Six months ended
	September 30,								September 30,								Year ended
Particulars	2004			2003			Growth %		2004			2003			Growth %		March 31, 2004
Segment Revenue
Global IT Services and Products		15,020			10,300			46		28,456			19,555			46		43,575
India and AsiaPac IT Services and Products		3,004			2,138			41		5,701			3,740			52		9,762
Consumer Care and Lighting		1,160			882			32		2,207			1,680			31		3,649
Others		601			425			41		1,112			760			46		1,826
Total		19,785			13,745			44		37,476			25,735			46		58,812
Profit Before Interest and Tax (PBIT)
Global IT services and Products		4,132			2,140			93		7,754			4,060			91		9,539
India and AsiaPac IT Services and Products		220			140			57		356			232			53		792
Consumer Care and Lighting		167			137			22		320			274			17		551
Others		131			53			147		139			109			28		277
Total		4,650			2,470			88		8,569			4,675			83		11,159
Interest and Other Income		159			197					413			343					873
PROFIT BEFORE TAX		4,809			2,667			80		8,982			5,018			79		12,032
Income Tax expense		(702	)		(360	)				(1,313	)		(592	)				(1,681	)
Profit before equity in earnings / (losses) of Affiliates and minority interest		4,107			2,307			78		7,669			4,426			73		10,351
Equity in earnings of affiliates		32			6					62			(48	)				23
Minority interest		(22	)		(11	)				(44	)		(14	)				(59	)
PROFIT AFTER TAX		4,117			2,302			79		7,687			4,364			76		10,315
Earnings per share - EPS ( PY: Adjusted EPS for bonus issue in ratio of 2:1 ) - in Rs.
Basic		5.93			3.32					11.07			6.29					14.87
Diluted		5.91			3.32					11.04			6.29					14.85
Operating Margin
Global IT Services and Products		28	%		21	%				27	%		21	%				22	%
India and AsiaPac IT Services and Products		7	%		7	%				6	%		6	%				8	%
Consumer Care and Lighting		14	%		16	%				14	%		16	%				15	%
Total		24	%		18	%				23	%		18	%				19	%
Capital employed*
Global IT Services and Products		23,342			19,210					23,342			19,210					21,732
India and AsiaPac IT Services and Products		1,842			1,236					1,842			1,236					1,941
Consumer Care and Lighting		721			538					721			538					596
Others		20,901			18,695					20,901			18,695					14,498
Total		46,806			39,679					46,806			39,679					38,767
Capital Employed Composition
Global IT Services and Products		50	%		49	%				50	%		49	%				56	%
India and AsiaPac IT Services and Products		4	%		3	%				4	%		3	%				5	%
Consumer Care and Lighting		2	%		1	%				2	%		1	%				2	%
Others		44	%		47	%				44	%		47	%				37	%
Total		100	%		100	%				100	%		100	%				100	%
Return on average capital employed:
Global IT Services and Products		73	%		44	%				69	%		43	%				47	%
India and AsiaPac IT Services and Products		42	%		42	%				38	%		40	%				53	%
Consumer Care and Lighting		89	%		98	%				97	%		90	%				86	%
Total		42	%		26	%				40	%		25	%				30	%

* This includes cash and cash equivalents of Rs. 20,374 (2004: Rs. 21,760 and 2003: Rs. 17,475).

Wipro Limited – Stand alone – Parent Company
Audited Financial Results for the Six months period
ended September 30, 2004 (In Rs. Million)

	Three months ended				Six months ended				Year ended
	September 30,				September 30,				March 31,
Particulars	2004		2003		2004		2003		2004
Net Income from Sales / Services		17,438		12,086		33,065		22,624		51,685
Cost of Sales / Services
a. Consumption of raw materials		2,481		1,866		4,725		3,215		8,209
b. Other expenditure		8,365		5,861		15,862		10,960		24,791
Gross Profit		6,592		4,359		12,478		8,449		18,685
Selling and Marketing expenses		1,247		1,097		2,496		2,197		4,506
General and Administrative expenses		703		565		1,360		1,181		2,717
Operating Profit before interest and depreciation		4,642		2,697		8,622		5,071		11,462
Interest expense		17		6		27		11		35
Depreciation		426		369		798		681		1,516
Operating Profit after interest and depreciation		4,199		2,322		7,797		4,379		9,911
Other income		169		199		437		346		912
Profit before tax		4,368		2,521		8,234		4,725		10,823
Provision for tax		667		373		1,265		610		1,674
PROFIT FOR THE PERIOD		3,701		2,148		6,969		4,115		9,149
Paid up equity share capital		1,398		465		1,398		465		466
Reserves		40,948		36,956		40,948		36,956		34,610
Earnings per share (EPS) - in Rs. ( PY: Adjusted EPS for bonus issue in ratio of 2:1 )
Basic		5.33		3.10		10.04		5.93		13.19
Diluted		5.31		3.10		10.01		5.93		13.17
Aggregate of non-promoters shareholding
Number of shares ( PY: Adjusted EPS for bonus issue in ratio of 2:1 )		114,213,543		112,320,081		114,213,543		112,320,081		113,539,326
Percentage of holding		16.34		16.10		16.34		16.10		16.26
Details of expenditure
Items exceeding 10% of total expenditure
Staff Cost		6,713		4,737		12,912		9,074		20,495
Travel		1,317		1,184		2,478		2,287		4,543

Status of Redressal of Complaints received for the
period from July 1, 2004 to September 30, 2004

	Opening balance		Complaints received		Complaints disposed
Nature of Complaints	for the quarter		during the quarter		during the quarter		Unresolved
Complaints with respect to transfer / transmission / split / consolidation / exchange / duplicate issue of shares		0		3		3		0
Complaints with respect to Dematerialisation / Rematerialisation of shares		0		0		0		0
Complaints with regard to non-receipt of Corporate benefits like Dividend / Interest / Bonus Shares		0		232		232		0
Total		0		235		235		0

Notes to segment report:

(In Rs. Million)

	Quarter ended								Six months ended
Geography	September 30,								September 30,
	2004		%		2003		%		2004		%		2003		%
India		4,356		22		3,296		24		8,368		22		5,973		23
USA		10,441		53		7,347		53		19,736		53		13,855		54
Rest of the world		4,988		25		3,102		24		9,372		25		5,907		23
Total		19,785		100		13,745		100		37,476		100		25,735		100

1. The segment report of Wipro Limited and its consolidated subsidiaries and associates has been prepared in accordance with the Accounting Standard 17 “Segment Reporting” issued by the Institute of Chartered Accountants of India.

2. The Company has three geographic segments: India, USA 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 in the table alongside.

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

4. As of September 30, 2004, forward contracts to the extent of USD 263 Mn have been assigned to the foreign currency assets in the balance sheet date. These assets are valued at the forward contract rate, adjusted for premium / discount in respect of the expired period.

The Company has designated certain forward contracts to hedge highly probable forecasted transactions. The gain or loss on these forward contracts is recognized in the profit and loss account in the period in which the forecasted transaction is expected to occur. In certain cases, the Company has entered into forward contracts having a maturity earlier than the period in which the hedged transaction is forecasted to occur. The gain / loss on rollover / cancellation / expiry of such contracts is recognized in the profit and loss account in the period in which the forecasted transaction is expected to occur, till such time the same is grouped under Loans and Advances.

The Company has also entered into option contracts. These option contracts have not been designated as hedge and consequently, they are marked to market at each balance sheet date and the gains / loss is recognized in the profit and loss account of the respective period.

The Company had forward contracts to sell of USD 860 Mn in respect of forecasted transactions as at the balance sheet date. The effect of marking to market and effect on intermediary rollover / expiry of the said forward contracts is unfavorable exchange difference of Rs. 1,878 Mn, the final impact of which will be recognized in the profit and loss account of the respective periods in which the forecasted transactions are expected to occur.

Had the Company continued to follow the earlier accounting policy, the profit would have been lower by Rs. 139 Mn for the quarter ended and Rs. 494 Mn. for six months ended September 30, 2004.

5. a) In accordance with Accounting Standard 21 “Consolidated Financial Statements” issued by the Institute of Chartered Accountants of India, the consolidated financial statements of Wipro Limited include the financial statements of all subsidiaries which are more than 50% owned and controlled.

b) The Company has a 49% equity interest in Wipro GE Medical Systems Private Limited (WGE), a joint venture with General Electric, USA. The joint venture agreement provides specific rights to the joint venture partners. The Management believes that these specific rights do not confer joint control as defined in Accounting Standard 27 “Financial Reporting of Interest in Joint Venture”. Consequently, WGE is not considered as a joint venture and consolidation of Financial statements are carried out as per equity method in terms of Accounting Standard 23 “Accounting for Investments in Associates in Consolidated Financial statements”.

c) In accordance with the guidance provided in Accounting Standard 23 “Accounting for Investments in Associates in Consolidated Financial Statements” WeP Peripherals have been accounted for by equity method of accounting.

Notes :

1. The above financial results were approved by the Board of Directors of the Company at its meeting held on October 15, 2004.

2. There are no qualifications in the report issued by the Auditors for these periods.

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

	By order of the Board
Place: Bangalore	Azim H Premji
Date: October 15, 2004	Chairman and Managing Director

WIPRO LIMITED
Regd. Office: Doddakannelli,
Sarjapur Road, Bangalore - 560 035.
www.wipro.com