India's Wipro beats expectations

CNN.com
India's third-largest software services firm, Wipro Ltd., reported a 60 percent rise in third-quarter net profit, beating analysts expectations, as outsourcing demand grew. The Bangalore-based company said on Friday its October-December net profit rose to 4.27 billion rupees, or $98.7 million, from 2.66 billion a year earlier. Revenue increased by 34 percent to 20.9 billion rupees. A Reuters poll had forecast a net profit of 4.12 billion rupees on revenue of 20.85 billion rupees. more...