Wipro Ltd, India's largest software company by market capitalisation, said on Friday it was seeing signs of a recovery in its telecoms business.
"What we are seeing is that the paralysis in telecoms is beginning to see signs of an end," Vivek Paul, vice chairman, told Reuters in an interview immediately after announcing the firm's December quarter results.
He said the telecoms business grew 13 per cent in the past quarter over the preceding three months.
New York Stock Exchange-listed Wipro has a large exposure to the troubled telecoms sector, but company officials have been talking of business from some telecom clients improving.
The firm posted a net profit of Rs 231 crore (Rs 2.31 billion) in the third quarter ended December 31. That compared with a profit of Rs 220 crore (Rs 2.2 billion) in the preceding quarter.
Revenue rose 27 per cent on year to Rs 1,108 crore (Rs 11.08 billion).