Wipro is trading higher by 3% at Rs 385 after reporting 1% year-on-year (y-o-y) growth in net profit to Rs 1,301 crore for the quarter ended September 2011 helped by a weaker rupee and rise in spending on outsourcing by overseas clients. Analysts expected a net profit of Rs 1,294 crore from the India’s third largest software services exporter in the recently concluded quarter.
Total revenue rose 18% to Rs 9,094 crore on y-o-y basis, as the company added 44 new clients in its IT services business.
"Macroeconomic sentiments continue to remain uncertain. We have seen growth momentum build up in our IT business with healthy volume growth." Wipro's Chairman Azim Premji said in a statement.
A combined 200,000 shares have changed hands on the counter till 0938 hours.
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