Wipro records 41% increase in profit in Q4

India's third largest software exporter Wipro Ltd has reported net profit of Rs.2,230 crore for fourth quarter (January-March) of fiscal 2013-14, registering an increase of 41% year-on-year (YoY) as per Indian accounting standard.

In a regulatory filing to stock exchanges Thursday, the IT bellwether said revenue for the quarter under review grew 22% YoY to Rs.11,700 crore, as per Indian accounting standard.

Revenue from its flagship IT services business at $1.72 billion was up 8.5% YoY and 2.5% sequentially.

Revenue from IT services is Rs.10,620 crore, an increase of 24% YoY.

Under the International Financial Reporting Standard (IFRS), net income for fourth quarter is $371 million and revenue $2 billion.