Bangalore, India, July 24, 2015: Wipro Limited has announced financial results under International Financial Reporting Standards (IFRS) for its first quarter ended June 30, 2015.
Highlights of the Results for the Quarter ended June 30, 2015:
Gross Revenues were `122.4 billion ($1.9 billion), an increase of 10% YoY.
Net Income was `21.9 billion ($344 million), an increase of 4% YoY.
IT Services Segment Revenue was $1,794.1 million, asequential increase of 1.1%
Non-GAAP constant currency IT Services Segment Revenue in dollar terms grew 0.2% sequentially and grew 8.1% YoY
IT Services Segment Revenue in Rupee terms was `115.8 billion ($1.8 billion), an increase of 10% YoY.
IT Services Segment Results was `24.3 billion ($382 million), an increase of 1% YoY.
IT Services Segment Margins was 21.0% for the quarter.
Performance for the quarter ended June 30, 2015
T K Kurien, Member of the Board & Chief Executive Officer of Wipro, said – “On the Runside, deals are
getting increasingly competitive and we are focusedon increasing the levels of automation, while on theChange
side, new stakeholders are influencing buying decisions in the Digital space. On the Runside, we continued to
win deals which deploy Wipro HOLMES, our Artificial Intelligence platform to drive down costs for our
customers. On the Changeside, we have announced the acquisition of Designit, one of the largest independent
global strategic design firms. Designit’s design capabilities in synergy with Wipro’s scale in technology services
will position Wipro uniquely in Digital, as an integrated design & technology player.”
Jatin Dalal, Chief Financial Officer of Wipro, said – “We continued to drive productivity and improve operating
levers even as we invested for growth in people, process and IP. In the quarter, we maintained strong cash flow
generation while operating margins were, on predictable lines, modestly lower due to employee compensation
The IT Services segment had a headcount of 161,789 as of June 30, 2015. We added 36 new customers during
Wipro continued its momentum in winning Large Deals globally as described below:
Wipro has been selected by one of the largest upstream oil and gas companies in Oman as its IT Partner to
implement an ‘Integrated IT Services Contract’. The five-year engagement aims to improve operational efficiency
across the organisation by integrating managed services for help desk, applications and telecom.
Wipro won a multi-year total outsourcing deal spanning Applications, Infrastructure and Business Process
Services in a pay-per-use model from one of the largest construction companies with operations around the
world. This engagement will transform the customer’stechnology estate to drive simplification, scalability, agility
and cost optimisation.
Wipro won an IT outsourcing deal from a global leader in marketing services for Small and Medium Businesses
(SMBs). Wipro will provide applications and infrastructure services to the customer’s business units in the US,
UK and Spain. The deal includes tools for automationand innovation, all of which are being offered in an Opexbased commercial model.
Corporation Bank has chosen Wipro to transform its existing core banking solution. This is a technology
transformation initiative covering core transactionprocessing, channels across Internet and Mobile Banking, Risk
Based Internal Audit and Enterprise Performance Management Applications. This project aims at providing
Corporation Bank and its customers with an enhanceduptime and better response.
During this fiscal year, Wipro made an investment in Talena, an early-stage company building innovativeBig
Data Availability Management Solutions.
Wipro also made an investment in Vicarious, an early-stage company developing the next-generation of Artificial
Intelligence algorithms and solutions.
Wipro Digital, the digital business unit of Wipro Limited, on July 9, 2015, announced its intention toacquire
Designit, an award-winning global strategic design firm specializing in designing transformative product-service
experiences. This investment marks a further stage in Wipro’s move to evolve the digital offerings it takes to
market, combining its reputation and heritage in deep engineering and transformative technology with human
Wipro has been awarded a strategic Application Development and Management contract by Allied Irish Bank, a
leading bank in Ireland offering a full range of personal and corporate banking services. Wipro will manage and
transform their Digital and Online Channels, Data and Enterprise support services & Applications estate over a
period of 5 years.
This win builds on recent successes by Wipro Digital, including selection by a North American bank to redesign
and implement a transformational B2B payment portalas well as working with the Lawn Tennis Associationof
the UK as their official Digital Technology ServicesPartner.