Mumbai, April 23: Wipro Ltd, the country’s No. 3 software services exporter, reported a 21 percent jump in quarterly profit, meeting estimates, as its overseas clients increased spending on technology services.
Wipro, which develops software applications, integrates IT systems and manages call centres, said January-March net profit rose to 12.09 billion rupees ($272 million) under international accounting standards from 10.01 billion.
A Reuters poll of brokerages had forecast a net profit of 12 billion rupees for Wipro, which counts Citigroup, Cisco and Credit Suisse among its leading clients.
The showpiece $60-billion outsourcing sector is winning new deals and seeing stability in fees for services after a brutal slide in demand following the global recession, but a firmer rupee and rising wages are concerns.
This week, sector leader Tata Consultancy Services on Monday beat estimates and No. 2 Infosys Technologies had met quarterly profit estimates. Both gave a positive outlook on rising demand.
—–Agencies