W ipro Limited

Highlights for the Quarter ended December 31, 2023

REVENUE
Operating

$2.66 Bn
QoQ Constant YoY Constant
Currency Currency Margin

-1.7% -6.9% 16.0%

STRATEGIC MARKET UNITS MIX

31.0% AMERICAS 1 30.0% AMERICAS 2 27.7% EUROPE 11.3% APMEA

SECTOR MIX

32.7% 18.8% 13.9% 11.8% 12.1% 6.7% 4.0%

Banking, Energy,
Consumer Health Technology Manufacturing Communication
Financial Natural
Services Resources
& Insurance and Utilities

TOTAL BOOKINGS LARGE DEALS TCV

BOOKINGS $3.8 Bn -13.5% YoY

Constant Currency $0.9 Bn
-8.3% YoY
Constant Currency

Revenue from our IT Services business segment to be in the range of $2,615 million to
OUTLOOK
$2,669 million*. This translates to a sequential guidance of -1.5% to +0.5% in constant
currency terms.
for the Quarter ending
* Outlook for the Quarter ending March 31, 2024, is based on the following exchange rates: GBP/USD at 1.24,
March 31, 2024 Euro/USD at 1.08, AUD/USD at 0.65, USD/INR at 83.54 and CAD/USD at 0.72

1 3.0% 10
CUSTOMER
CONCENTRATION TOP
TOP 5 12.1% TOP 20.5%

TOTAL HEADCOUNT 240,234 ATTRITION VOL – TTM 14.2%

NET UTILIZATION
EXCLUDING TRAINEES
84.0% OFFSHORE REVENUE
PERCENTAGE OF SERVICES
59.8%

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 W ipro Limited
Results for the Quarter ended December 31, 2023

FY 23 – 24 FY 22 – 23

A IT Services
Q3 Q2 Q1 FY Q4 Q3 Q2

IT Services Revenues ($Mn) 2,656.1 2,713.3 2,778.5 11,234.4 2,839.5 2,821.4 2,817.4

Sequential Growth -2.1% -2.3% -2.1% 7.5% 0.6% 0.1% 2.2%

Sequential Growth in Constant Currency Note 2 -1.7% -2.0% -2.8% 11.2% -0.7% 0.6% 4.1%

Operating Margin % Note 3 16.0% 16.1% 16.0% 15.6% 16.3% 16.2% 15.1%

Strategic Market Units Mix

Americas 1 31.0% 29.8% 28.8% 28.8% 28.5% 29.1% 28.8%

Americas 2 30.0% 29.9% 30.0% 30.8% 30.5% 30.6% 31.1%

Europe 27.7% 28.6% 29.5% 28.6% 29.3% 28.8% 28.0%

APMEA 11.3% 11.7% 11.7% 11.8% 11.7% 11.5% 12.1%

Sectors Mix

Banking, Financial Services and Insurance 32.7% 33.6% 33.9% 35.0% 34.4% 35.0% 35.3%

Consumer 18.8% 18.7% 18.7% 18.9% 18.9% 19.0% 19.0%

Health 13.9% 12.7% 12.2% 11.7% 12.1% 11.9% 11.4%

Energy, Natural Resources and Utilities 11.8% 11.6% 12.0% 11.5% 12.2% 11.4% 11.2%

Technology 12.1% 12.1% 11.3% 11.3% 10.9% 11.2% 11.5%

Manufacturing 6.7% 7.0% 7.3% 6.9% 7.0% 6.9% 6.9%

Communications 4.0% 4.3% 4.6% 4.7% 4.5% 4.6% 4.8%

Total Bookings TCV ($Mn) Note 4 3,791 3,785 3,724 — 4,172 4,333 —

Large deal TCV ($Mn) Note 5 909 1,275 1,198 3,897 1,083 978 713

Guidance ($Mn) Note 1 2,617-2,672 2,722-2,805 2,753-2,811 — 2,785-2,831 2,811-2,853 2,817-2,872

Guidance restated based on

2,605-2,659 2,712-2,795 2,773-2,831 — 2,823-2,869 2,799-2,841 2,766-2,821
actual currency realized ($Mn)

Revenues performance against guidance ($Mn) 2,656 2,713 2,779 — 2,823 2,803 2,798

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 FY 23 – 24 FY 22 – 23

Q3 Q2 Q1 FY Q4 Q3 Q2
Customer size distribution (TTM)
> $100Mn 22 22 21 19 19 19 19

> $75Mn 31 28 28 29 29 29 29

> $50Mn 46 51 51 53 53 52 52

> $20Mn 121 122 123 117 117 119 122

> $10Mn 203 207 207 210 210 204 199

> $5Mn 305 313 319 315 315 312 314

> $3Mn 430 437 444 436 436 440 434

> $1Mn 750 774 769 766 766 755 745

Revenue from Existing customers % 98.8% 99.1% 99.6% 97.4% 96.6% 96.9% 97.4%

Number of new customers 55 49 65 437 63 82 128

Total Number of active customers 1,349 1,393 1,444 1,479 1,479 1,530 1,514

Customer Concentration

Top customer 3.0% 3.0% 3.1% 3.2% 3.2% 3.2% 3.2%

Top 5 12.1% 12.3% 12.5% 12.9% 12.5% 13.3% 13.0%

Top 10 20.5% 20.6% 20.5% 20.7% 20.2% 21.2% 20.8%

% of Revenue
USD 61% 60% 59% 61% 60% 62% 61%

GBP 10% 11% 11% 10% 11% 10% 10%

EUR 10% 10% 11% 10% 11% 9% 9%

INR 5% 5% 5% 5% 5% 5% 5%

AUD 4% 4% 4% 4% 4% 4% 5%

CAD 3% 3% 3% 3% 3% 3% 3%

Others 7% 7% 7% 7% 6% 7% 7%

Closing Employee Count 240,234 244,707 249,758 258,570 258,570 262,109 262,626

Sales & Support Staff (IT Services) 15,833 16,778 16,942 16,999 16,999 17,089 16,664

Utilization Note 1 & 6

Net Utilization (Excluding Trainees) 84.0% 84.5% 83.7% 81.2% 81.7% 79.7% 79.8%

Attrition
Voluntary TTM (IT Services excl. DOP) 14.2% 15.5% 17.3% 19.4% 19.4% 21.2% 22.9%

DOP % — Post Training Quarterly 8.3% 9.8% 9.2% 9.9% 9.0% 8.7% 10.3%

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 FY 23 – 24 FY 22 – 23

Q3 Q2 Q1 FY Q4 Q3 Q2
Revenue Mix Note 6

Revenue from FPP 59.9% 58.4% 59.7% 59.4% 59.6% 59.4% 58.7%

Offshore Revenue — % of Services 59.8% 59.9% 59.5% 59.3% 59.9% 59.2% 59.1%

B Growth Metrics
for the Quarter ended December 31, 2023, Note 2
Q3’24 Q3’24 Q3’24 Q3’24
Reported Reported CC CC
QoQ% YoY% QoQ% YoY%

IT Services -2.1% -5.9% -1.7% -6.9%

Strategic Market Units

Americas 1 1.8% 0.2% 2.0% 0.1%

Americas 2 -1.7% -7.8% -1.3% -8.0%

Europe -5.0% -9.1% -4.3% -12.7%

APMEA -6.0% -8.0% -5.4% -7.4%

Sectors
Banking, Financial Services and Insurance -4.9% -12.1% -4.3% -13.2%

Consumer -1.4% -6.9% -1.0% -8.1%

Health 7.3% 10.3% 7.5% 9.9%

Energy, Natural Resources and Utilities -0.2% -2.2% 0.7% -3.8%

Technology -2.1% 1.8% -1.9% 1.0%

Manufacturing -6.4% -9.1% -6.1% -10.5%

Communications -9.5% -18.8% -8.6% -19.2%

C Annexure to Datasheet

Segment-wise breakup of
Q3 FY23-24 (INR Mn)
Cost of Revenues, S&M and G&A

Reconciling
Particulars IT Services IT Products Total
Items
Cost of revenues 151,541 730 1,555 153,826

Selling and marketing expenses 18,256 16 906 19,178

General and administrative expenses 16,285 (55) 214 16,444

Total 186,082 691 2,675 189,448

Note 1: Guidance and Utilization numbers for FY23 have not been restated to include India State Run Enterprise (ISRE) business. All other numbers for the previous quarters have
been restated to include ISRE business
Note 2: Constant currency (CC) for a period is the product of volumes in that period times the average actual exchange rate of the corresponding comparative period
Note 3: IT Services Operating Margin refers to Segment Results Total as reflected in IFRS financials
Note 4: Total Bookings refers to the total contract value of all orders that were booked during the period including new orders, renewals, and changes to existing contracts. Bookings
do not reflect subsequent terminations or reductions related to bookings originally recorded in prior fiscal periods. Bookings are recorded using then-existing foreign currency
exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations. The revenues from these contracts accrue over the tenure of the contract. For
constant currency growth rates, refer note 2
Note 5: Large deal bookings constitute of deals greater than or equal to $30 million in total contract value terms
Note 6: IT Services excluding DOP, Infocrossing, Designit, Topcoder, Rational, ITI, Capco, Ampion, Edgile, LeanSwift, CAS and Rizing

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