Wipro is trading higher by 3% at Rs 373 in opening trades after reporting a better-than-expected 2% quarter-on-quarter (qoq) growth in its consolidated net profit at Rs 1,611 crore for the second quarter ended September 2012. Analysts' (on an average) had expected profit of Rs 1,515 crore from the country’s third largest software service provider. Total revenue for July-September, however, remains unchanged at Rs 1,062 crore on a sequential basis.
Meanwhile, the company forecast IT services revenue for the three months ending December would rise 1.3-3.2% from the September quarter to $1.56-$1.59 billion, Wipro said in statement.
The stock opened at Rs 370 and hit a low of Rs 366 on the BSE before gaining ground. A combined around 660,000 shares have changed hands on the counter in opening deals on both the exchanges.
