WIPRO =Results = For Q4 FY 12 = FY 2012 = Revenue Growth 19%YoY in Q4 = 41 New Customers in Q4

WIPRO

Results for Quarter & Year ended March 31, 2012(under IFRS)

Wipro Records 19% YoY Revenue Growth in the quarter

Highlights of the Results

Results for the Quarter ended March 31, 2012:

Ø  IT Services Revenue was $1,536 million, a sequential increase of 2.0% and YoY increase of 9.7%.

Ø  Non-GAAP constant currency revenue growth was 1.3% sequentially, in line with the guidance range.

Ø  Total Revenues were Rs.98.69 billion , an increase of 19% YoY.

Ø  Net Income was Rs.14.81 billion, an increase of 8% YoY. Non-GAAP Adjusted Net Income was Rs.14.81 billion , an increase of 8% YoY.

Ø  IT Services Revenues were Rs.75.9 billion, an increase of 21% YoY.

Ø  IT Services Earnings Before Interest and Tax (EBIT) was Rs.15.73 billion , an increase of 13% YoY.

Ø  Operating Income to Revenue for IT Services was 20.7% for the quarter.

Results for the year ended March 31, 2012

Ø  IT Services Revenue was $5,921 million, an increase of 13.4% YoY.

Ø  Total Revenues were Rs.375.25 billion, an increase of 21% YoY.

Ø  Net Income was Rs.55.73 billion, an increase of 5% YoY

Ø  IT Services Revenues were Rs.284.31 billion, an increase of 21% YoY.

Ø  IT Services Earnings Before Interest and Tax (EBIT) was Rs.59.27 billion, an increase of 11% YoY.

Ø  Operating Income to Revenue for IT Services was 20.8% for the year.

Ø  Wipro declares a final dividend of Rs.4 ($0.081) per share/ADS, taking the total dividend declared during the year to Rs.6 ($0.121) per share/ADS.

T K Kurien, ED & CEO, IT Business, said – “– we have seen progress with customer satisfaction scores going up in each of the last 4 quarters and we have created better value for our clients, with 7 customers contributing more than $100 million in revenues.”

Outlook for the Quarter ending June 30, 2012

Wipro expects Revenues from its IT Services business to be in the range of $1,520 million to $1,550 million*.

* Guidance is based on the following exchange rates: GBP/USD at 1.58, Euro/USD at 1.31, AUD/USD at 1.07, USD/INR at 50.07.

IT Services (76% of Total Revenue and 93% of Operating Income for the year ended March 31, 2012)

The IT Services segment had 135,920 employees as of March 31, 2012, an increase of 13,535 people in the year. Wipro added 41 new customers for the quarter and 173 new customers during the year.

IT Products (10% of Total Revenue and 3% of Operating Income for the year ended March 31, 2012) :

Ø  Wipro’s IT Products segment recorded Revenue of Rs.38.44 billion for the year ended March 31, 2012 an increase of 4% YoY. Revenue for the quarter was Rs.9.37 billion, an increase of 3% YoY.

Ø  EBIT was Rs.1.79 billion for the year, an increase of 11% YoY. EBIT was Rs.438 million for the quarter, an increase of 32% YoY.

Ø  The ratio of  Operating Income to Revenue for this segment was 4.6% for the year and 4.7% for the quarter.

Consumer Care and Lighting (9% of Total Revenue and 6% of Operating Income for the year ended March 31, 2012)

Ø  Consumer Care and Lighting business segment recorded Revenue of Rs.33.4 billion for the year, an increase of 23% YoY. Revenues for the quarter was Rs.9.07 billion, representing an increase of 25% YoY.

Ø  EBIT was  Rs.3.96 billion for the year, an increase of 15% YoY. EBIT was Rs.1.13 billion for the quarter, an increase of 30% YoY.

Ø  Operating Income to Revenue for this segment was 11.8% for the year and 12.5% for the quarter.

Wipro Limited

Ø  Total Revenue for the quarter and year ended March 31, 2012 was Rs.98.69 billion and Rs.375.25 billion respectively.

Ø  Net Income for the quarter and year ended March 31, 2012 was Rs.14.81 billion and Rs.55.73 billion respectively.

Ø  Non-GAAP Adjusted Net Income (excluding impact of accelerated amortization of stock based compensation) for the quarter and year ended March 31, 2012 was Rs.14.81 billion and Rs.55.60 billion respectively.

CONSOLIDATED (INTERIM) AUDITED REVENUE STATEMENT

Of Wipro Ltd + its subsidiaries
(In Millions -of Rs)

Ø  Gross Revenues

Ø  Rs.82714 (Q4FY11);Rs.98164 (Q4 FY 12); Rs.310542 (FY 11);Rs.371971 (FY 12);

Ø  Cost of Revenues

Ø  Rs.57402 (Q4FY11);Rs.68470 (Q4 FY 12); Rs.212808 (FY 11);Rs.263173 (FY 12);

Ø  Gross Profit

Ø  Rs.25312 (Q4FY11);Rs.29694 (Q4 FY 12); Rs.97734 (FY 11);Rs.108798 (FY 12);

Ø  Revenue from Operations :

Ø  Rs.14790 (Q4FY11);Rs.16943 (Q4 FY 12); Rs.57669 (FY 11);Rs.64013 (FY 12);

Ø  Profit Before Tax :

Ø  Rs.16420 (Q4FY11);Rs.18928 (Q4 FY 12); Rs.63035 (FY 11);Rs.69749 (FY 12);

Ø  NET PROFIT : (In Millions of Rs)

Ø  Rs.13817 (Q4FY11);Rs.14912 (Q4 FY 12); Rs.53321 (FY 11);Rs.55986 (FY 12);

Ø  Earnings per equity share (In Rs)

Ø  Basic............................ 5.64(Q4FY11);  6 .04(Q4FY12); 21.74(FY 11); 22.76 (FY 12);

Current Market Price of Wipro is Rs.415; while the 52 week high is Rs.453.90 and the 52 week low is Rs.310.50;

On this basis, taking into account the annual EPS of Rs.22.76, the PE Ratio works out to 18.23.

*  *  *  E  N  D  *  *  *