Wipro profits are up by around 43 Percent

Wipro profits are up by around 43 Percent

One of the largest IT companies in the Indian market Wipro Ltd has come out with their revenue results and the company’s profits are up by around 43% during the most recent quarter.

Wipro has gained from the growing demand for outsourced projects from their American and European clients. The profits for the January-March quarter rose to rupees 6.18 billion. This is an impressive improvement from profits of rupees 4.33 billion a year earlier.

Wipro added that its revenues grew 35 percent to 31.1 billion rupees during the last quarter of the last financial year as it added on as many as 42 new clients during the period.

Wipro Chief Financial Officer Suresh Senapaty assured the investors that they are expecting to continue with this kind of growth rate in the future as well. He said: “We have done better than the industry and will continue to do better than industry in fiscal 2007.”

The company is hoping to gain tremendously from major orders from the manufacturing, utilities, and retail sectors this year though not many details have been released. They are currently the third largest software company in the Indian market after TCS and Infosys.