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Wipro latest Indian IT supplier to post record growth

IT services supplier Wipro is the latest Indian outsourcing company to post record financial results.

The company announced profits of $288m (£183m)...

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IT services supplier Wipro is the latest Indian outsourcing company to post record financial results.

The company announced profits of $288m (£183m) for its fiscal quarter to September, a 10% year-on-year growth.

During this period, Wipro also increased its number of employees by 2,975 to 115,900.

Azim Premji, chairman of the company, said demand was fuelled by customers catching up with under-investments in IT over the previous year.

"While the macro-economic environment continues to remain uncertain, there is higher degree of confidence at the micro level," he said.

The announcement follows recent results from Tata Consultancy Services, which showed sales of $2bn in the three months to 30 September, an increase of 30% year-on-year. HCL also posted revenue growth of $804m, up 27% compared to the same period a year ago.

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