Wipro Q3 net jumps 19%

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Wipro, reported a 19 percent rise in quarterly profit, beating forecasts, as global recovery boosted demand for outsourcing and eased pressure on fees.

Wipro maintained margins during the December quarter despite a fall in rate realisations and a stronger rupee, the company said on Thursday. Chief Financial Officer Suresh Senapaty said in a statement that the key financial services sector had bounced back on the back of strong outsourcing demand.

Wipro, which integrates IT systems, develops software applications and manages call centres, said October-December net profit at Rs 1,203 crore ($263 million) under international accounting standards from Rs 1,010 crore a year ago.

A global economy on the mend, recent deal wins, and stable prices have brightened the outlook for Indian IT companies such as Wipro, Tata Consultancy Services and Infosys Technologies, after the world recession hit the sector.