Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 82

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 5
Chunk 82
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 the translation or settlement of transactions in foreign currency, except for exchange differences on debt denominated in foreign currency (which are reported within finance expenses and finance and other income); and
•the changes in fair value for derivatives not designated as hedging derivatives and ineffective portions of the hedging instruments.
For forward foreign exchange contracts which are designated and effective as cash flow hedges, the marked to market gains and losses are deferred and reported as a component of other comprehensive income in shareholder’s equity and subsequently recorded in the income statement when the hedged transactions occur, along with the hedged items. Refer to Note 19 of the Notes to the Consolidated Financial Statements for additional information.
Although our functional currency is the Indian Rupee, we transact a significant portion of our business in foreign currencies, including the U.S. Dollar, the Pound Sterling, the Euro, the Canadian Dollar and the Australian Dollar. The exchange rate between the Indian Rupee and these currencies has changed substantially in recent years and may fluctuate substantially in the future. Consequently, the results of our operations are affected as the Indian Rupee fluctuates against these currencies. Our exchange rate risk primarily arises from our foreign currency revenues, cash balances, payables, lease liabilities and debt. We enter into derivative instruments to primarily hedge our forecasted cash flows denominated in certain foreign currencies, foreign currency debt and net investment in overseas operations. Please refer to Notes 14 and 19 of the Notes to the Consolidated Financial Statements for additional details on our foreign currency exposures.
The following table sets forth the currencies in which our revenues for fiscal year 2024 and fiscal year 2025 were denominated:

                                               Year ended March 31,
                          2024               2025                  
                                                      % of Revenues
U.S. Dollar (U.S.$)                60    %             62    %     
Pound Sterling (GBP)               11    %             10    %     
Euro (EUR)                         10    %             10    %     
Indian Rupee (INR)                  5    %              4    %     
Australian Dollar (AUD)             4    %              4    %     
Canadian Dollar (CAD)               3    %              3    %     
Others                              7    %              7    %     

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The following table sets forth information on the foreign exchange rates in Indian Rupees per U.S. Dollar, Pound Sterling, Euro, Australian Dollar and Canadian Dollar for fiscal year 2024 and fiscal year