The profit for Wipro, ranked as India’s no. 3 software service provider, rose to 24 per cent at 16.11 billion rupees, which has exceeded the estimates by analysts. In view of the trend, the forecast for the company’s revenue would rise to 1.3-3.2 per cent for quarter ending December.
Wipro has added 53 new clients for the IT services during the second quarter of fiscal year. A year earlier, the Q2 revenue of the software tycoon rose to 17 per cent at 106.57 billion rupees.Wipro Ltd has stated that all its non-IT services will be folded to a new firm focusing on outsourcing. This will include the company’s medical diagnostics and consumer care services as well. The step is taken in an effort to promote growth in view of competition from local and global rivals. In order to speed up the growth amongst peers, Wipro’s chairman Azim Premji also replaced company’s two co-CEOs.