IT major Wipro on Friday announced a net profit of Rs 427 crore (Rs 4.27 billion) for the third quarter ended December 31, 2004, up by 56 per cent over Rs 274.3 crore (Rs 2.74 billion) during the same period last year.
The revenue for the quarter was at Rs 2,110 crore (Rs 21.10 billion) an increase of 39 per cent over Rs 1521.4 crore (Rs 15.21 billion) in the third quarter last year.
Commenting on the results, Azim Premji, Chairman, Wipro said, "We continued our strong performance into the third quarter of the fiscal year. Our strategy of offering an integrated solution to our customers continues to pay off, as demonstrated by the healthy sequential growth in all our key verticals and service lines during the quarter. Looking ahead, for the quarter ending March 2005, we expect our revenue from our global IT services business to be approximately $370 million."