EX-99.1 2 d326742dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

LOGO

FOR IMMEDIATE RELEASE

Results for the quarter ended December 31, 2016 under IFRS

Gross Revenues grew 6.4% YoY

IT Services Segment Revenue in US Dollar terms grew by 6.2% YoY in constant currency

Bangalore, India and East Brunswick, New Jersey, USA – January 25, 2017 — Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) today announced financial results under International Financial Reporting Standards (IFRS) for its third quarter ended December 31, 2016.

Highlights of the Results

 

  Gross Revenues were 136.9 billion ($2 billion1), an increase of 6.4% YoY.

 

  Net Income2 was 21.1 billion ($309 million1), a decrease of 5.7% YoY.

 

  Non-GAAP constant currency IT Services Segment Revenue in dollar terms grew 0.6% sequentially and grew 6.2% YoY.

 

  IT Services Segment Revenue was $1,902.8 million, a sequential decrease of 0.7% and YoY increase of 3.5%

 

  IT Services Segment Revenue in Rupee terms was 132.0 billion ($1.9 billion1), an increase of 7.2% YoY.

 

  IT Services Segment Profits3 was 24.2 billion ($355 million1), a decrease of 1.3% YoY.

 

  IT Services Margins4 was 18.3% for the quarter, as compared to 17.8% for the quarter ended September 30, 2016.

 

  Wipro declared an interim dividend of 2 ($0.031) per share/ADS.

Performance for the quarter ended December 31, 2016

“Our bold investments in Digital, BPaaS and cloud applications position Wipro as the partner of choice for the Digital businesses of our clients. Digital eco-system grew by 9.9% sequentially in the quarter and now constitutes 21.7% of our revenues”, said Abidali Z. Neemuchwala, Chief Executive Officer and Member of the Board. “In the last year, we have invested almost $1 billion in acquisitions, made 6 investments through Wipro Ventures, funded 8 ideas through our Horizon program, and continued to invest aggressively in our cognitive platform, Wipro HOLMES and in our stated localization strategy.”

“We expanded operating margins by 50 basis points in a seasonally weak quarter and generated strong operating cash flows by disciplined execution.” said Jatin Dalal, Chief Financial Officer. “We are significantly leveraging HOLMES, our automation suite to drive efficiencies in our operations.”

Outlook for the Quarter ending March 31, 2017

We expect Revenues from our IT Services business to be in the range of $ 1,922 million to $ 1,941 million*.

 

* Guidance is based on the following exchange rates: GBP/USD at 1.23, Euro/USD at 1.04, AUD/USD at 0.74, USD/INR at 67.73 and USD/CAD at 1.34.
1. 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 30, 2016, for cable transfers in Indian Rupees, as certified by the Federal Reserve Board of New York, which was US $1= 67.92. However, the realized exchange rate in our IT Services business segment for the quarter ended December 31, 2016 was US$1= 69.35
2. Net Income refers to ‘Profit for the period attributable to equity holders of the Company’
3. Segment Profit refers to segment results. Effective April 1, 2016, the segment results is measured after including the amortization charge for acquired intangibles to the respective segments. Such costs were classified under reconciling items until the fiscal year ended March 31, 2016. Comparative information has been restated to give effect to the same.
4. Margins have been computed based on the change as listed in footnote 3. above


IT Services

The IT Services segment had a headcount of 179,129 as of December 31, 2016.

Wipro has won a multi-year engagement with a leading Engineering & Construction major to transform their services business by modernizing their facility management platform and back office operations, leveraging Wipro’s digital and platform-as-a-service offerings. This program will enable the client to be competitive in the market place and deliver value to their end-customers.

Wipro has won a multi-year engagement with a large financial services company in Australia to provide application support, development and testing services. This program, which will leverage Wipro’s IP, DevOps and Agile frameworks, will help transform the client’s delivery capabilities across services.

A leading Australian Banking Group that has retail, commercial and wealth management products has chosen Wipro as a key transformation partner for Testing, Test Environment management and Digital Assurance. The engagement involves the convergence of the testing and engineering functions across multiple domains and a progressive automation approach that aligns to the multi-speed operating model of the Bank.

A leading UK-based bank has renewed an ongoing engagement with Wipro for a period of 3 years. Wipro will continue to provide core banking operations-related services for the client’s investment banking, corporate banking and wealth management operations.

A leading manufacturer of paint products in Australia has selected Wipro as its strategic IT partner to manage and transform its IT landscape as part of its digital journey. Wipro will leverage its digital and Wipro HOLMES Artificial Intelligence PlatformTM capabilities in the manufacturing domain to deliver services and solutions to help achieve the customer’s business goals.

A leading Latin America-based retailer has extended a multi-year application management services (AMS) contract with Wipro. The engagement involves the transformation of the retailer’s applications landscape through standardization and automation of processes.

Wipro has won an IT infrastructure services engagement with the North Lanarkshire Council in Scotland. This program will enable the Council to provide innovative and improved services to its customers.

A large restaurant franchise chain in Latin America has awarded a multi-process, multi-year Business Process Services engagement to Wipro to support its Finance and accounting (F&A) and HR-Payroll functions.

Digital highlights

Wipro has been cited as a Leader in The Forrester WaveTM: BPM Service Providers, Q4 2016. The Forrester report recognizes Wipro for cutting edge design practices to large-scale process transformation, next-generation capabilities for helping clients undertake large-scale transformation for digital business automation, innovative methodologies that combines design thinking and customer experience design concepts and an instant infusion of top design talent to help extend its BPM consulting engagements.

Wipro has been ranked as a “leader” in the ‘Zinnov Zones for Digital Services in Retail – 2016’ research report by Zinnov Management Consulting. Wipro was ranked in the leadership Zone and was ranked as one of the top digital services providers for retailers in the assessment done basis capabilities and client feedback.


Wipro Digital has been engaged to lead a DevOps transformation initiative at a global bank. Wipro will support Process Consulting, Training & Coaching, DevOps engineering and Enterprise Architecture, and Blueprint definition and implementation.

A large US-based publishing company has selected Wipro to identify new market segments and develop differentiated digital offerings.

Wipro Digital and Designit will develop a Small-Medium Enterprise proposition for a global, Europe-based bank to identify the needs and opportunities for this market segment.

Wipro has been chosen as a digital partner by a global fashion brand to implement an end-to-end B2C IoT solution on wearable technology. The solution will also be used for online transactions, branding, and various customer loyalty programs.

Wipro Digital has been selected by a leading digital and technology company to develop a customer engagement app for use within the retail environment. This app will be used by hundreds of employees to record sales and customer interactions.

A few of the notable wins in Cloud Applications are as follows:

 

    Wipro was selected as a partner to transform the Sales, Service & Quote to Cash processes leveraging leading cloud platforms for an organization which engineers, manufactures and sells 3D printers.

 

    A leading APAC bank selected Wipro to design and deploy their front office applications using a leading cloud application platform.

 

    Wipro is helping a global belting company to redesign and deploy a source-to-pay process using an emerging SaaS platform.

 

    A leading American financial services firm selected Wipro to architect a cloud-based solution to improve the client engagement across all functions and business units.

 

    Wipro has been selected by a global medical devices company to enhance their contact center processes into a single cloud platform to facilitate a quicker response to medical emergencies.

 

    A large multinational courier delivery services company has awarded a contract to Wipro for testing their cloud-based HCM applications suite.

Delivery Excellence

“We told Wipro we want to be the first company after liberalization in the market with a new solution. That gave us 5 months to implement the solution. Wipro acted as a leader from day one of the project. They were ready with project deliverables and project teams, which made it easier for my team and our organization to follow. We have now the most competitive digital solution in the Danish market” said Jesper Bak Olesen, CEO, NRGi Elsalg

Wipro has deployed a Master Data Management (MDM) for one of the largest multi-channel specialty retailers of home furnishings and gourmet cookware. The solution helped the retailer realize $10 Million savings and enabling improved customer marketing campaigns, cross-selling and up-selling across brands, reduced marketing costs and better customer service.

Wipro successfully delivered Data Lineage reports for BCBS 239 compliance for a bank in the US. In this engagement, Wipro leveraged its IP tool Next Gen DI, which provides ability to calculate and generate the end-to-end data lineage after ingesting metadata from data management applications. As part of this engagement, Wipro delivered 95% automation in the compliance reporting process and cut down the delivery cycle time for compliance reports significantly.


Awards and accolades

Wipro was recognized as the ‘Best Collaboration Partner’ by Land Transport Authority (LTA), Singapore at the Land Transport Excellence Awards 2016. The award recognizes the partner who has demonstrated the highest level of commitment to collaborate and deliver smart solutions that contribute towards land transport transformation with LTA.

Wipro and Asahi Beverages, the Australia New Zealand business of the Japanese beverage giant, were jointly recognized for the ‘Best BPO Sourcing’ partnership of 2016 by the ANZ Paragon Awards, presented by Information Services Group, a leading technology insights, market intelligence and advisory services company.

Wipro has been recognized as a ‘Leader’ in the report ‘IDC MarketScape: Worldwide Datacenter Transformation Consulting and Implementation Services 2016 Vendor Assessment’. As per IDC, Wipro’s DCT portfolio includes consulting, transformation, cloud, and managed services within the company’s datacenter and cloud practice, which is built around its BoundaryLess Data Center (BLDC) framework.

Wipro was positioned in the ‘Winner’s Circle’, as a leading PLM service provider, by HfS Research – a leading analyst firm - in its report ‘HfS Blueprint Report on PLM services 2016’. The ‘Winner’s Circle’ of the HfS blueprint represents organizations that demonstrate excellence in both execution and innovation in PLM services. The report acknowledges Wipro’s compelling vision, strategy and commitment to deliver business outcome for PLM services.

Wipro has been positioned in the ‘Winner’s Circle’ by HfS Research in its 2016 blueprint report on Digital Marketing Operations. HfS says Wipro is one of the early movers for intelligent automation, aspiring to use its HOLMES platform to apply intelligent automation to digital marketing automation.

Wipro is a Leader for the Third Consecutive Year in Gartner’s Magic Quadrant for Application Testing Services, Worldwide.* Gartner said Wipro is a good fit for large clients looking for a partner that can approach testing requirements with breadth and depth of practice and that can transform and manage large testing engagements.

Wipro was cited as a Leader in The Forrester WaveTM: B2C Mobile Services Providers, Q4 2016. The Forrester report has recognized Wipro for thousands of resources that it can bring to mobile B2C projects around the globe, including hundreds of designers and UX specialists and thousands of developers and testers and broad capabilities for related services - such as security - that it can tap into, which sets it apart from many of the smaller mobile-oriented shops.

Wipro has been rated as the leading player in the ‘Zinnov Zones 2016 Product Engineering Services report’ by Zinnov Management Consulting for the seventh consecutive year. This Zinnov study evaluated more than 35 global engineering service providers across the globe in 15 major industry segments. It analyzed responses from participants across key parameters like product development capabilities & innovation, client relationships, human capital, financials, ecosystem linkages, infrastructure, non-linear strategy and business sustainability.

IT Products

 

  Revenue for the quarter ended December 31, 2016 was 5.7 billion ($84 million1).

Please refer the table on page 8 for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis.

About Non-GAAP financial measures

This press release contains non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical or future performance, financial position or cash flows that are adjusted to exclude or include amounts that are excluded or included, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS.


The table on page 8 provides IT Services Revenue on a constant currency basis, which is a non-GAAP financial measure that is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior reporting period. We refer to growth rates in constant currency so that business results may be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance.

This non-GAAP financial measure is not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, the most directly comparable financial measure calculated in accordance with IFRS, and may be different from non-GAAP measures used by other companies. In addition to this non-GAAP measure, the financial statements prepared in accordance with IFRS and the reconciliation of these non-GAAP financial measures with the most directly comparable IFRS financial measure should be carefully evaluated.

Results for the quarter ended December 31, 2016, prepared under IFRS, along with individual business segment reports, are available in the Investors section of our website www.wipro.com

Quarterly Conference Call

We will hold an earnings conference call today at 07:15 p.m. Indian Standard Time (08:45 a.m. U.S. Eastern Time) to discuss our performance for the quarter. The audio from the conference call will be available online through a web-cast and can be accessed at the following link- http://services.choruscall.eu/links/wipro170125.html

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.

 

* Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360-degree view of “Business through Technology.” By combining digital strategy, customer centric design, advanced analytics and product engineering approach, Wipro helps its clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has a dedicated workforce of over 170,000, serving clients across 6 continents. For more information, please visit www.wipro.com

 

Contact for Investor Relations

   Contact for Media & Press
Pavan N Rao    Abhishek Kumar Jain    Vipin Nair
Phone: +91-80-4672 6143    Phone: +1 978 826 4700    Phone: +91-80-3991 6450
pavan.rao@wipro.com    abhishekkumar.jain@wipro.com    vipin.nair1@wipro.com

Forward-looking statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are


subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, 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

CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION

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

 

     As of March 31,      As of December 31,  
     2016      2016      2016  
                   Convenience
translation into US
dollar in millions
(unaudited) - Refer
footnote 1 on Page 1
 

ASSETS

        

Goodwill

     101,991         130,749         1,925   

Intangible assets

     15,841         19,927         293   

Property, plant and equipment

     64,952         70,362         1,036   

Derivative assets

     260         44         1   

Investments

     4,907         10,568         156   

Non-current tax assets

     11,751         11,938         176   

Deferred tax assets

     4,286         3,495         51   

Other non-current assets

     15,828         16,072         237   
  

 

 

    

 

 

    

 

 

 

Total non-current assets

     219,816         263,155         3,875   
  

 

 

    

 

 

    

 

 

 

Inventories

     5,390         5,617         83   

Trade receivables

     100,976         107,375         1,580   

Other current assets

     32,894         28,919         426   

Unbilled revenues

     48,273         46,026         678   

Investments

     204,244         271,613         3,999   

Current tax assets

     7,812         9,913         146   

Derivative assets

     5,549         7,110         105   

Cash and cash equivalents

     99,049         59,940         883   
  

 

 

    

 

 

    

 

 

 

Total current assets

     504,187         536,513         7,900   
  

 

 

    

 

 

    

 

 

 

TOTAL ASSETS

     724,003         799,668         11,775   
  

 

 

    

 

 

    

 

 

 

EQUITY

        

Share capital

     4,941         4,861         72   

Share premium

     14,642         458         7   

Retained earnings

     425,106         474,079         6,980   

Share based payment reserve

     2,229         3,120         46   

Other components of equity

     18,242         23,343         344   
  

 

 

    

 

 

    

 

 

 

Equity attributable to the equity holders of the Company

     465,160         505,861         7,449   

Non-controlling interest

     2,224         2,463         36   
  

 

 

    

 

 

    

 

 

 

Total equity

     467,384         508,324         7,485   
  

 

 

    

 

 

    

 

 

 

LIABILITIES

        

Long - term loans and borrowings

     17,361         20,018         295   

Deferred tax liabilities

     5,108         7,919         117   

Derivative liabilities

     119         3         —     

Non-current tax liabilities

     8,231         9,501         140   

Other non-current liabilities

     7,225         6,325         93   

Provisions

     14         17         —     
  

 

 

    

 

 

    

 

 

 

Total non-current liabilities

     38,058         43,783         645   
  

 

 

    

 

 

    

 

 

 

Loans, borrowings and bank overdrafts

     107,860         136,310         2,007   

Trade payables and accrued expenses

     68,187         69,376         1,021   

Unearned revenues

     18,076         18,418         271   

Current tax liabilities

     7,015         7,601         112   

Derivative liabilities

     2,340         1,929         28   

Other current liabilities

     13,821         12,737         188   

Provisions

     1,262         1,190         18   
  

 

 

    

 

 

    

 

 

 

Total current liabilities

     218,561         247,561         3,645   
  

 

 

    

 

 

    

 

 

 

TOTAL LIABILITIES

     256,619         291,344         4,290   
  

 

 

    

 

 

    

 

 

 

TOTAL EQUITY AND LIABILITIES

     724,003         799,668         11,775   
  

 

 

    

 

 

    

 

 

 


Wipro Limited and subsidiaries

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,  
    2015     2016     2016     2015     2016     2016  
                Convenience
translation into US
dollar in millions

(unaudited) Refer
footnote 1 on Page 1
                Convenience
translation into US
dollar in millions
(unaudited) Refer
footnote 1 on Page 1
 

Gross revenues

    128,605        136,878        2,015        376,116        410,527        6,044   

Cost of revenues

    (90,270     (96,576     (1,422     (260,881     (290,773     (4,281

Gross profit

    38,335        40,302        593        115,235        119,754        1,763   

Selling and marketing expenses

    (8,362     (9,226     (136     (25,114     (28,981     (427

General and administrative expenses

    (7,050     (8,610     (127     (20,830     (24,754     (364

Foreign exchange gains/(losses), net

    911        767        11        2,774        3,032        45   

Results from operating activities

    23,834        23,233        341        72,065        69,051        1,017   

Finance expenses

    (1,423     (1,366     (20     (4,298     (4,130     (61

Finance and other income

    6,292        5,719        84        17,945        16,024        236   

Profit before tax

    28,703        27,586        405        85,712        80,945        1,192   

Income tax expense

    (6,245     (6,440     (95     (18,718     (18,471     (272
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit for the period

    22,458        21,146        310        66,994        62,474        920   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Attributable to:

           

Equity holders of the company

    22,369        21,094        309        66,695        62,284        917   

Non-controlling interest

    89        52        1        299        190        3   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Profit for the period

    22,458        21,146        310        66,994        62,474        920   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings per equity share:

           

Attributable to equity share holders of the company

           

Basic

    9.10        8.73        0.13        27.15        25.61        0.38   

Diluted

    9.08        8.70        0.13        27.10        25.54        0.38   

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

           

Basic

    2,457,022,905        2,417,470,626        2,417,470,626        2,456,551,992        2,431,967,685        2,431,967,685   

Diluted

    2,462,220,926        2,423,740,144        2,423,740,144        2,461,282,411        2,438,741,410        2,438,741,410   

Additional Information

           

Segment Revenue

           

IT Services Business Units

           

BFSI

    32,322        33,843        498        95,595        101,056        1,489   

HLS

    14,719        20,972        309        41,453        61,786        910   

CBU

    20,334        20,780        306        58,544        62,213        916   

ENU

    17,709        17,131        252        52,949        51,368        756   

MNT

    28,566        29,517        435        83,675        88,518        1,303   

COMM

    9,497        9,718        143        27,132        29,478        434   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

IT SERVICES TOTAL

    123,147        131,961        1,943        359,348        394,419        5,808   

IT PRODUCTS

    6,503        5,713        84        20,119        19,309        284   

RECONCILING ITEMS

    (134     (29     —          (577     (169     (2
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

    129,516        137,645        2,027        378,890        413,559        6,090   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Segment Result

           

IT Services Business Units

           

BFSI

    7,142        6,413        93        20,971        19,786        291   

HLS

    3,165        3,400        50        8,942        9,490        140   

CBU

    3,606        3,415        50        9,926        10,774        159   

ENU

    3,208        3,856        57        10,067        10,324        152   

MNT

    5,895        5,355        79        18,098        17,484        257   

COMM

    1,510        1,604        24        4,311        4,700        69   

OTHERS

    —            —            —          —     

UNALLOCATED

    (49     112        2        759        (1,762     (26
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL IT SERVICES

    24,477        24,155        355        73,074        70,796        1,042   

IT PRODUCTS

    (541     (586     (9     (682     (1,252     (18

RECONCILING ITEMS

    (102     (336     (5     (327     (493     (7
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

TOTAL

    23,834        23,233        341        72,065        69,051        1,017   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

FINANCE EXPENSE

    (1,423     (1,366     (20     (4,298     (4,130     (61

FINANCE AND OTHER INCOME

    6,292        5,719        84        17,945        16,024        236   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

PROFIT BEFORE TAX

    28,703        27,586        405        85,712        80,945        1,192   

INCOME TAX EXPENSE

    (6,245     (6,440     (95     (18,718     (18,471     (272
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

PROFIT FOR THE PERIOD

    22,458        21,146        310        66,994        62,474        920   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Segment result represents operating profits of the segments and dividend income and gains or losses (net) relating to strategic investments, which are presented within “Finance and other income” in the statement of Income.

The Company is organized by the following operating segments; IT Services and IT Products.

The IT Services segment primarily consists of IT Service offerings to customers organized by industry verticals. Effective April 1, 2016, we realigned our industry verticals. The Communication Service Provider business unit was regrouped from the former GMT industry vertical into a new industry vertical named “Communications”. The Media business unit from the former GMT industry vertical has been realigned with the former RCTG industry vertical which has been renamed as “Consumer Business Unit” industry vertical. Further, the Network Equipment Provider business unit of the former GMT industry vertical has been realigned with the Manufacturing industry vertical to form the “Manufacturing and Technology” industry vertical.The revised industry verticals are as follows: Finance Solutions (BFSI), Healthcare, Lifesciences & Services (HLS), Consumer (CBU), Energy, Natural Resources & Utilities (ENU), Manufacturing & Technology (MNT), Communications (COMM). IT Services segment also includes Others which comprises dividend income and gains or losses (net) relating to strategic investments, which are presented within “Finance and other income” in the statement of Income. Key service offerings to customers includes software application development and maintenance, research and development services for hardware and software design, business application services, analytics, consulting, infrastructure outsourcing services and business process services.In the IT Products segment, the Company is a value added reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware products, software licenses and other related deliverables.

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

 

Three Months ended December 31, 2016           Three Months ended December 31, 2016  

IT Services Revenue as per IFRS

   $ 1,902.8       IT Services Revenue as per IFRS    $ 1,902.8   

Effect of Foreign currency exchange movement

   $ 25.1       Effect of Foreign currency exchange movement    $ 48.7   
  

 

 

         

 

 

 

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

   $ 1,927.9      

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

   $ 1,951.5