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Wipro's quarterly profit rises 10 percent

Fri, 01/21/2011 - 3:05am
The Associated Press

India's third-largest software services exporter Wipro Ltd. on Friday said quarterly profit rose 10 percent driven by revenue growth as margins were flat.

Net profit for the October-December quarter was 13.19 billion rupees ($294 million), the company said in a statement. Revenue of 78.29 billion rupees ($1.75 billion) was up 12 percent from a year earlier.

Suresh Senapaty, executive director and CEO of Wipro, said the operating margins for its mainstay IT services business were flat.

Referring to the outlook for the quarter ending March 31, Senapaty said revenue from Wipro's IT services business were expected to range from $1.384 billion to $1.411 billion, a sequential increase of 3 to 5 percent.

The statement said IT services added 36 new clients in the quarter.

The company had 119,491 employees as of Dec. 31, an increase of 3,591 people in the October-December quarter.

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