Wipro Ltd., India’s third-largest provider of software services, reported first-quarter profit that exceeded analysts’ estimates after the company won more orders and cut costs. Net income, according to
International Financial Reporting Standards, rose 13 percent to 10.1 billion rupees ($209 million) in the three months ended June 30, from 8.96 billion rupees a year earlier, Bangalore-based Wipro said today. Profit beat the 9.2 billion-rupee median of 26 analyst estimates compiled by Bloomberg. Sales gained 5.7 percent. Wipro joins larger rivals Tata Consultancy Services Ltd. and Infosys Technologies Ltd. in surpassing analyst expectations, signaling demand for India’s software services may be rebounding as the global recession eases. Billionaire Chairman Azim Premji, who pared costs by freezing pay for Wipro’s almost 100,000 employees, has acquired businesses to boost sales and aims to increase revenue from markets such as the Middle East and Brazil.
For Further Details visit at:www.bloomberg.com/apps/news?pid=20601091&sid=axt6U3lduJS0
International Financial Reporting Standards, rose 13 percent to 10.1 billion rupees ($209 million) in the three months ended June 30, from 8.96 billion rupees a year earlier, Bangalore-based Wipro said today. Profit beat the 9.2 billion-rupee median of 26 analyst estimates compiled by Bloomberg. Sales gained 5.7 percent. Wipro joins larger rivals Tata Consultancy Services Ltd. and Infosys Technologies Ltd. in surpassing analyst expectations, signaling demand for India’s software services may be rebounding as the global recession eases. Billionaire Chairman Azim Premji, who pared costs by freezing pay for Wipro’s almost 100,000 employees, has acquired businesses to boost sales and aims to increase revenue from markets such as the Middle East and Brazil.For Further Details visit at:www.bloomberg.com/apps/news?pid=20601091&sid=axt6U3lduJS0
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