Bangalore: Wipro Ltd, India's third-largest software services exporter, posted a 4.2 per cent rise in quarterly profit, beating forecasts.
Wipro, which offers IT solutions such as system integration, software application development and back-office services, said on Wednesday net profit in its fiscal fourth quarter to March rose to Rs 910 crore ($180 million), under US accounting rules, from Rs 875 crore reported a year ago.
A Reuters poll had forecast a net profit of Rs 873 crore for New York-listed Wipro, which counts Citigroup, telecoms gear makers Cisco, Nokia Siemens Networks and Credit Suisse among its clients.
The company said it expected June quarter IT services revenues of about Rs 100 core to Rs 103 crore.
Wipro reported its earnings after India's biggest IT services exporter Tata Consultancy Services posted below-forecast quarterly profit growth, while second-ranked Infosys Technologies managed to beat street estimates.
Tata Consultancy and Infosys both gave a downbeat forecast for the financial year that began on April 1 due to the global downturn hitting technology spending and put pressure on prices for India's export-driven outsourcers.
Shares in Wipro, majority-owned by its billionaire Chairman Azim Premji, rose 5 per cent in the March quarter, outperforming a 2.6 per cent advance in the sector index and 0.6 per cent in the main index.
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