Wipro Ltd , India's No. 3 software services exporter,
reported a 7.7% rise in quarterly net profit, roughly in line with analysts
expectations, as its cost-conscious customers bumped up demand.
Consolidated net profit rose to Rs 1,481 crore for the
fiscal fourth-quarter ended March 31 from Rs 1,375 crore a year earlier for the
company, which counts Citigroup Inc and Telenor ASA among its
clients.
Analysts, on average, had forecast a net profit of Rs 1,510
crore for Wipro, according to Thomson Reuters I/B/E/S.
Wipro's billionaire Chairman Azim Premji named T.K. Kurien
as IT Services CEO, replacing two co-CEOs, last year to reverse the widening
gap between the company and its larger rivals Tata Consultancy Services and
Infosys .
Sector leader Tata Consultancy on Monday met estimates with
a 23% rise in quarterly net profit, while No. 2 software exporter Infosys
dampened investor sentiment with a worse-than-expected revenue growth forecast
for the current fiscal year.
India's USD 100 billion export-driven outsourcing sector
faces a challenging year due to growing competition, an uncertain global
economy and rising US rhetoric against shipping of jobs to low-cost locations.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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