Wipro Q2 numbers beat estimates; net up 1%

Wipro Ltd, India's No 3 software services exporter, on Monday posted a 1 percent rise in quarterly profit, beating street estimates, helped by a weaker rupee and rise in spending on outsourcing by overseas clients.

Wipro, which develops software applications, integrates IT systems and manages call centres, said net profit rose to Rs 1301 cr ($267 million) under international accounting standards, from Rs 1285 cr a year ago.

[caption id="attachment_119309" align="alignleft" width="380" caption="Azim Premji, chairman of Wipro Ltd. Reuters"][/caption]

This compares with a Reuters poll forecast of Rs 1276 cr for Mumbai and New York-listed Wipro, which counts Citigroup, Cisco and Credit Suisse among its clients.

Top Indian software exporter Tata Consultancy Services Ltd posted a slightly lower-than-expected rise in quarterly profit earlier this month, while No 2 Infosys met street forecasts in its earnings.

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The top two outsourcing companies, however, sounded caution about the business outlook in the near term due to the global economic uncertainty.

Reuters