BANGALORE Nov 2 Wipro Ltd., India's
No. 3 software services provider, beat forecasts with a 24
percent rise in quarterly profit, helped by a surge in
outsourcing demand as Western clients look to cut costs in an
uncertain economic environment.
Profit for the three months ended September rose to 16.11
billion rupees ($286 million) from 13.01 billion rupees in the
year-ago period. Analysts were expecting a net profit of 15.37
billion rupees, according to Thomson Reuters I/B/E/S.
On Thursday, Wipro said it would fold all its non-IT
services, including consumer care and medical diagnostics, into
a new firm to focus on its outsourcing business, which accounted
for 86 percent of its revenue in the fiscal year ended March.
The move was seen as an effort to boost growth amid
cutthroat competition from local rivals Infosys Ltd
and Tata Consultancy Services as well as global majors
such as IBM and Accenture.