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Wipro quarterly profit surges 17pc

Mumbai, April 20, 2013

 

Indian outsourcing company Wipro said its quarterly profit rose 17 per cent to Rs17.3 billion ($317 million) as information technology services revenue grew.
 
Wipro yesterday reported a quarterly revenue of Rs110 billion, up 12 per cent from a year earlier.
 It forecast a lower revenue of Rs85 billion to Rs87 billion for the April-June quarter.
 
Wipro executives said sales in the first quarter of the fiscal year are traditionally weak.
 
India's third-largest information technology outsourcing company said profit for the fiscal year that ended March 31 rose by 19 per cent to Rs66 billion.
 
The Wipro results come after a strong profit result from top Indian outsourcer Tata Consultancy Services and a disappointing forecast by rival Infosys.-Reuters



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