India's Wipro says quarterly profit up 1 pct

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The Associated Press Updated 2:46 AM Monday, October 31, 2011

NEW DELHI — Wipro, India's No. 3 outsourcer, says fiscal second-quarter profit rose 1 percent despite global economic uncertainties due to growth in sales volumes.

The results for the quarter ending Sept. 30 show profit was 13.01 billion rupees ($265 million) under international accounting standards.

Revenues were 90.9 billion rupees ($1.85 billion), up 18 percent from a year earlier as the company added new customers in the quarter.

"Macroeconomic sentiments continue to remain uncertain. We have seen growth momentum build up in our IT business with healthy volume growth," Wipro Chairman Azim Premji said in a statement Monday.

The company does everything from managing call centers and claims processing to developing software. It also provides business consulting services.

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October 31, 2011 06:43 AM EDT

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