Wipro Q4 profit rises 2 per cent, beats forecasts

Wipro, country's third-biggest software services exporter, reported a 2 per cent rise in quarterly profit on Tuesday, beating estimates thanks to a rise in its Western clients' technology spending.

For its fourth quarter ended on March 31, Wipro's consolidated net profit rose to Rs 2,272 crore($361.38 million), compared with Rs 2,227 crore in the same period the previous year, the company said in a statement.

Analysts, on average, had expected Wipro to report a profit of Rs 2180 crore, according to Thomson Reuters data.

Total revenue rose to Rs 12140 crore in the quarter, a growth of 4 per cent over last year, as the company added 65 new clients.

The firm reported standalone net profit of Rs 2,142 crore against Reuters consensus forecast of Rs 2,179 crore for the January-to-March quarter.It posted Rs 2,353 crore net profit for the quarter ended March 2014. The board recommended a dividend of Rs 7 per equity share.

Wipro's billionaire founder Azim Premji's son Rishad Azim Premji has been appointed as Whole-time Director with effect from May 1, 2015. Azim Premji will remain executive chairman of the company.

The earnings were announced after market hours. The Wipro stock closed 0.67 per cent higher on the BSE. 

(With Reuters inputs)