BANGALORE, 19 October 2006 — India’s third-biggest software exporter, Wipro, reported yesterday second-quarter net profit jumped by a better-than-forecast 48 percent as it drew new clients in an outsourcing boom.
Wipro Ltd., 84 percent owned by Indian tycoon Azim Premji, said net profit for the three months ended September totaled Rs.7 billion ($154.8 million) on revenues that climbed 41 percent to Rs.35.5 billion.
The results were calculated according to Indian accounting standards. “Our information technology services and products business witnessed strong volume growth ... we added 54 new clients during our quarter ended September 2006 and 11 of those were Global 500 or Fortune 1000 clients,” said Premji, one of India’s wealthiest men who is also Wipro chairman.