BANGALORE, July 24 (Reuters) - Wipro Ltd, India's
No. 3 software services exporter, reported an 18 percent rise
in quarterly net profit, meeting expectations, as customers
outsourced more work to the company to cut their operational
Consolidated net profit rose to 15.80 billion rupees
($282.55 million) for the fiscal first quarter ended June 30
from 13.35 billion rupees a year earlier for Wipro, which counts
Citigroup Inc and Cisco systems Inc among its
Analysts, on average, had forecast a net profit of 15.95
billion rupees, according to Thomson Reuters I/B/E/S.
India's $100 billion export-driven outsourcing sector faces
diminishing hopes of an early revival in demand as their biggest
markets, the United States and Europe, grapple with an uncertain
economic and political climate.
Earlier this month, Infosys Ltd, the no. 2
software exporter, made a bigger-than-expected cut in its
revenue growth forecast for the current fiscal year. But sector
leader Tata Consultancy Services Ltd beat expectations
with a 38 percent rise in quarterly net profit.