Indian software company Wipro says quarterly profit soared 48 per cent

NEW DELHI

India's third-largest software company, Wipro Ltd., said Wednesday that its net profit in the July-September quarter surged 48 percent compared to the same period last year thanks to dozens of new outsourcing orders from global companies.

Wipro, which is listed on the New York Stock Exchange, said it earned 6.96 billion rupees (US$152 million; euro121 million) during the fiscal year's second quarter as its revenue rose 41 percent to 35.14 billion rupees (US$765 million; euro610 million). Compared to the previous quarter, net profit was up 13 percent.

The figures, which conform to U.S. accounting standards, beat expectations.

Analysts polled by Dow Jones Newswires had expected Wipro to report a net income of 6.54 billion rupees (US$142 million; euro113 million). Earnings per share during the July-September period was estimated at 4.89 rupees (US$0.11; euro0.89), the company said.

The company said it added 54 new overseas clients, including 11 featuring among either the Fortune 100 or the Global 500 companies.

About 77 percent of its revenues during the quarter came from overseas orders, the company said.