Wipro Q2 Profit Up 8%

(RTTNews) - Indian information technology firm Wipro Ltd. (WIT) reported net income for the second quarter of Rupee 20.8 billion, or $337 million, compared to Rupee 19.3 billion for the year-ago quarter.

Earnings per share for the second quarter was Rupee 8.45, or $0.14, compared to Rupee 7.85 in the prior year quarter.

Total Revenues for the second quarter rose 8% to Rupee 116.84 billion, or $1.89 billion, from Rupee 107.73 billion a year earlier. IT Services revenue for the quarter increase 8.6% year over year to $1.77 billion.

Analysts polled by Thomson Reuters expected the company to earn $0.14 per share on revenue of $1.93 billion for the second quarter.

Looking forward, the company expects second quarter revenues from its IT Services business to be in the range of $ 1.808 billion to $1.842 billion.

Azim Premji, Chairman of Wipro, said, "Business leaders in the US continue to exhibit increased confidence on growth prospects. Clients are increasingly looking to drive business value from their technology investments. We are seeing positive sentiment in India with the confidence that the Government is focused on driving an agenda of growth."