Cyber Times International Journal of Technology & Management

World is shifting towards International Financial Reporting Standards (IFRS). Till now more than 100 countries have accepted IFRS. India is also in the same line. For India the shift from IGAAP to IFRS is in a phased manner with first phase already begun in April 1, 2011. Here the researcher makes a comparative study of the profitability of Indian companies under IFRS and IGAAP. By analyzing sample companies’ ( viz. Wipro Ltd., Infosys Ltd. and Dr. Reddy’s Laboratories Ltd.) annual reports, the researcher came to the conclusion that although profitability show difference in absolute terms under IFRS and IGAAP, this difference cannot be proved statistically. So it can be concluded that there is no significant difference in profitability under IGAAP and IFRS.