July 24, 2014 / 11:17 AM / in 3 years

India's Wipro Q1 profit up 29.6 percent, slightly lags estimates

1 Min Read

BANGALORE/MUMBAI, July 24 (Reuters) - India's third-biggest IT services exporter Wipro posted a 29.6 percent rise in quarterly profit, slightly lagging estimates, on the back of higher spending by overseas clients.

For the quarter ended June 30, Wipro posted a consolidated net profit of 21.03 billion rupees ($349.9 million), compared with 16.23 billion rupees in the year-ago quarter.

Analysts were expecting the company to earn 21.24 billion rupees, according to Thomson Reuters estimates.

India's $108 billion-a-year outsourcing sector generates about 90 percent of its sales from services such as IT network installation and the developing software applications for overseas clients.

$1 = 60.1100 Indian Rupees Reporting by Lehar Maan in BANGALORE and Nivedita Bhattacharjee in MUMBAI; Editing by Miral Fahmy and Anupama Dwivedi

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below