Volume growth helps Wipro rise above Street

Benefitting from a strong quarter driven by uptick in volumes, India s third largest IT outsourcing firm, Wipro Ltd, has reported a 21% growth in net profit for the October-December period, even as pricing realisations slipped marginally. Announcing its third quarter results on Wednesday, Wirpo said it could maintain margins despite a slump in rate realisations, as the order pipeline improved from a recovery in the banking, financial services & insurance (BFSI) sector in the US. Commenting on the results, Azim Premji, chairman, said in 2010, the company expects IT budgets to be flat to marginally positive. For the current quarter ...

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