Bengaluru: Indian IT services company Wipro Ltd posted a 6% rise in second-quarter profit on Tuesday, beating estimates, as revenue in its largest segment - banking, financial services and insurance - grew.
Revenue from banking, financial services and insurance rose 8.2%, the company said. Revenue from IT services overall increased to Rs13,169 crore ($2.03 billion) from Rs13,137 crore, slightly above its forecast of a range of $1.96 billion to $2 billion.
Profit rose to Rs2,192 crore in the three months ended 30 September from Rs2,067 crore in the same period a year earlier, Wipro said.
Analysts on average expected a profit of Rs2,080 crore, Thomson Reuters data showed.
Bengaluru-headquartered Wipro, India’s third-largest software services exporter, also said it expected revenue from the IT services business to be in the range of $2.01 billion - $2.05 billion in the quarter 30 ended December.
India’s largest IT services firm, Tata Consultancy Services, reported a 2% decline in second-quarter profit last week, held back by sluggish growth in banking and retail services. Reuters