Wipro Q3 net up 10%, sees Q4 IT revenue up 1-3 per cent
Date: 20.01.2012
Goldennifty said, Wipro Ltd, India's No3 software services exporter, flagged the uncertain global economic environment as a concern after roughly meeting expectations with a 10 per cent rise in quarterly profit, mainly helped by a weaker rupee. www.goldennifty.com
Wipro said it expects $1.52 billion to $1.55 billion revenue from its IT services unit, which contributes three-quarters of its total sales, in the March quarter, a sequential rise of nearly 1 to 3 per cent. www.goldennifty.com
The forecast was lower than 2-4 per cent rise projected by analysts at brokerage CLSA
.
Wipro and larger rivals Tata Consultancy Services Ltd and Infosys Ltd are part of India's $76 billion software services industry that gets more than 90 per cent of its revenue from the United States and Europe. www.goldennifty.com
Wipro and larger rivals Tata Consultancy Services Ltd and Infosys Ltd are part of India's $76 billion software services industry that gets more than 90 per cent of its revenue from the United States and Europe. www.goldennifty.com
Wipro's consolidated net profit rose to 14.56 billion rupees ($290 million) in its fiscal third quarter ended Dec. 31 under international accounting standards from 13.19 billion rupees a year earlier. www.goldennifty.com
Tata Consultancy, the No 1 Indian software services exporter, met market expectations with a 23 per cent rise in quarterly profit this week, and said its pipeline of orders is "very healthy".
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