On January 17, 2014, Wipro Limited announced financial results under International Financial Reporting Standards (IFRS)
for its third quarter ended December 31, 2013. The financials are as follows –
1) Revenues from continuing operations were Rs.113.3 billion ($1.8 billion), an increase of 18% YoY.
2) Net Income from continuing operations was Rs. 20.1 billion ($325 million), an increase of 27% YoY which includes a non-recurring expense incurred due to the cessation of manufacturing Wipro branded desktop, laptops and servers. Excluding the non-recurring expense, Net Income from continuing operations was Rs. 20.3 billion ($328 million), an increase of 28% YoY
3) Non-GAAP Adjusted Net Income from continuing operations was Rs. 20.1 billion ($325 million1), an increase of 27% YoY.
4) IT Services Revenue was $1,678.4 million, a sequential increase of 2.9% and YoY increase of 6.4%.
5) IT Services Revenues in Rupee terms was Rs. 103.3 billion ($1,668 million1), an increase of 20% YoY.
6) IT Services Earnings Before Interest and Tax (EBIT) was Rs.23.8 billion ($384 million1), an increase of 33% YoY.
7) Operating Income to Revenue for IT Services was 23% for the quarter.
8) The Opus CMC acquisition (announced in December 2013) was completed in January 2014, upon completion of customary closing conditions. Opus CMC’s revenue for calendar year 2013, prior to the closing of the acquisition, was approximately $ 43 million.
9) Wipro declared an interim dividend of Rs.3 ($0.051) per share /ADS.
