Wipro Ltd announced on Monday  that it had posted a 1 per cent rise in quarterly profit, beating street estimates, helped by a weaker rupee and rise in spending on outsourcing by overseas clients.
Bangalore-based Wipro forecast third-quarter revenue of $ 1.50 billion to $ 1.53 billion from its IT services unit, which accounts for three-quarters of its total revenue, a rise of 2 percent to 4.1 percent from the second quarter.
Wipro, which develops software applications, integrates IT systems and manages call centers, said net profit in the quarter rose to Rs.1301 crore ($267 million) under international accounting standards from Rs.1285 crore, a year ago. Total revenue rose 18 per cent to Rs.9094 crore, as the company added 44 new clients in its IT services business. This compares with a media poll forecast of Rs 1276 crore on net sales of Rs.8928 crore for the company, which counts Citigroup , Cisco and Credit Suisse among its clients.