New Delhi: Software giant Wipro Ltd on Friday posted 44 per cent jump in its quarterly net profit and forecast strong growth in the year ahead on more outsourcing and higher rates.
Wipro reported a profit of Rs 8.61 billion (US$200 million, 147 million) in the fiscal fourth quarter, taking profit in the year ended March to Rs 29.17 billion (US$677 million, 498 million), up 44 percent from a year earlier, a company statement said.
Wipro said in the last quarter it won 43 new clients, including 35 from the US. In the financial year through March, the company won 10 outsourcing orders topping US$50 million each.
''All our business segments contributed to the strong growth in revenues and profit,'' Wipro Chairman Azim Premji said in a statement.
The numbers, which conform to US accounting standards, beat forecasts from most analysts, who had expected profit to grow slower because of a weaker dollar.
Revenues totaled Rs 43.34 billion (US$1 billion) during the January-March quarter, up 42 percent from a year ago. Annual revenues rose in the same order to Rs 149.43 billion (US$3.5 billion).
Wipro shares jumped 3 per cent as trading opened on the Bombay Stock Exchange minutes after the results were announced.
(With agency inputs)
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