Wipro, India's third-biggest software company, yesterday reported a four per cent rise in net profit ending March, beating market expectations.
Net profit for the three months to March was Rs9.1 billion (Dh668 million), up from Rs8.75bn a year ago, under US accounting norms.
Analysts had forecast a net profit of Rs8.5bn for the Bangalore-based outsourcing firm. Under Indian accounting standards, Wipro's net profit rose to Rs10.1bn from Rs8.8bn a year earlier, the firm said in a statement to the Mumbai stock exchange.
Revenues rose 13 per cent to Rs64.52bn.
For the full year, Wipro's net profit ending March rose 19 per cent to Rs38.99bn. Full-year revenues rose 28 per cent to Rs255bn. India's IT companies continue to face a tough market, with many US clients cutting back on technology spending due to the global financial crisis.
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