Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 2

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 3
Chunk 2
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 better;
•seasonal changes that affect the mix of services we provide to our clients or the relative proportion of services and product revenue;
•the effect of increased wage pressure in India and other locations and the time we require to train and productively utilize our new employees;
•our ability to accurately forecast our client’s demand patterns to ensure the availability of trained employees to satisfy such demand; and
•our ability to identify and acquire new businesses.
A significant portion of our total operating expenses, particularly personnel and facilities, are fixed in advance of any particular quarter. As a result, unanticipated variations in the number and timing of our projects may cause significant variations in operating results in any particular quarter. Our pricing remains competitive and clients remain focused on cost reduction and capital conservation. While we believe that we have a flexible business model which can mitigate the negative impact of an uncertain or slow growing economy, we may not be able to sustain historical levels of profitability.

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There are also other factors that are not within our control that could cause significant variations in our results in any particular quarter. These include:
•the duration of tax holidays or exemptions and the availability of other Indian Government incentives;
•currency exchange fluctuations, specifically movement of the Indian Rupee against the U.S. Dollar, the Pound Sterling, the Euro, the Canadian Dollar and the Australian Dollar, as significant portion of our revenues are in these currencies;
•political uncertainties, changes in regulations, or other economic factors, including the economic conditions, in India, the United States, the U.K., the European Union (the “EU”), Australia, the Middle East and other geographies in which we operate and uncertain or changing economic conditions particular to a business segment or to particular customer markets within that segment; and 
•increases in cost of operations in countries that we operate in on account of changes in minimum wage regulations. 
Therefore, we believe that period-to-period comparisons of our results of operations are not necessarily meaningful and should not be relied upon as indications of future performance. Thus, it is possible that in the future some of our periodic results of operations may be below the expectations of public market analysts and investors, and the market price of our equity shares and ADSs could decline.
Risks Related to the Markets in which We and Our Clients Operate
Our revenue and operating results may be affected by the rate of growth in the use of technology in business and the type and level of technology spending by our clients.
Our business depends, in part, upon continued reliance on the use of technology in business