BANGALORE/MUMBAI, July 24 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
($1 = 60.1100 Indian Rupees)
(Reporting by Lehar Maan in BANGALORE and Nivedita
Bhattacharjee in MUMBAI; Editing by Miral Fahmy and Anupama