Dec industrial output growth slows
India's industrial production growth slowed sharply in December, its slowest pace in two months, adding to pressure on the RBI to start cutting interest rates to help stimulate an economy that is headed for its slowest growth in three years. Full Article
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India Wipro Q2 profit up 1.2 pct, lags forecast
BANGALORE |
BANGALORE Oct 22 (Reuters) - Wipro Ltd (WIPR.BO), India's third-biggest software services exporter, reported a 1.2 percent rise in quarterly net profit, lagging expectations, and said it was cautious on the near-term outlook because of deteriorating economic conditions.
The company posted net profit of 8.22 billion rupees ($168 million) in its fiscal second quarter ended September 30, from 8.12 billion reported a year ago under U.S. accounting rules.
A Reuters poll had forecast a mean net profit of 8.54 billion rupees for Bangalore-based Wipro, which counts telecoms gear makers Cisco (CSCO.O), Credit Suisse (CSGN.VX) and Nortel NT.N. ($1=49 rupees) (Reporting by Sumeet Chatterjee; Editing by John Mair)
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