January 19, 2018 / 10:48 AM / 4 months ago

Indian software services company Wipro posts Q3 profit fall

Jan 19 (Reuters) - India’s third-largest software services exporter Wipro posted an 8.5 percent drop in third-quarter net profit on Friday, hurt by higher costs.

Net profit fell to 19.31 billion rupees ($303 million) in the three months to Dec. 31, from 21.10 billion rupees a year earlier, Wipro said on Friday. (bit.ly/2rjwAnr)

The average forecast from analysts was for profit of 21.58 billion rupees, Thomson Reuters data showed.

Revenue from Wipro’s IT services segment rose marginally to 132.35 billion rupees. ($1 = 63.7575 Indian rupees) (Reporting by Tanvi Mehta in Bengaluru; Editing by David Goodman)

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