Wipro Q3 net profit up 27 percent, beats estimates

BANGALORE (Reuters) - Wipro Ltd , India's third-largest IT services exporter, reported a 27 percent rise in quarterly net profit, topping estimates, bolstered by rising demand from overseas clients.

Wipro also forecast revenues from its main IT services business of $1.71 billion to $1.75 billion, or a growth of between of 2 and 4 percent in the quarter ending March 31, matching analysts estimates.

The company's consolidated net profit from continuing operations for the three months ended December 31 rose to 20.15 billion rupeesfrom 15.9 billion rupees a year earlier, Wipro said in a statement on Friday.

That compares with the 19.95 billion rupee mean estimate of analysts surveyed by Thomson Reuters I/B/E/S.

 

(Reporting by Lehar Maan; Editing by Miral Fahmy)