India's Wipro sees 62% profit jump

BANGALORE, India -- Indian software giant Wipro Ltd reported Thursday its net profit rose 62 percent in the half-year ended September 30 from a year earlier, beating market expectations.

It said net profit was 4 billion rupees ($83 million), from total revenue of 16.1 billion rupees ($337 million). That sales figure was up 15 percent from the year-earlier period.

Bangalore-based Wipro is listed on the New York Stock Exchange and the BSE in Mumbai.

Wipro said it added 26 new clients in the September quarter, including 11 from companies on the Fortune 1000 list.

Wipro chairman Azim Premji said the September 11 terror attacks in the U.S. had resulted in several deferred customer visits and delays in closing large orders, but he still expected Wipro to grow faster than the software services industry growth rate.

He predicted growth of about 5 percent in the company's global IT business revenue over the next quarter.

Most income from global IT

Global IT services accounted for 66 percent of Wipro's revenues and 92 percent of operating income in the first half.

India and Asia-Pacific IT services and products provided about 20 percent of revenue and 6 percent of operating income. Other revenue came from its consumer care and lighting divisions.

Wipro's chief rival, Infosys Technologies, said last week it expected to see its revenue grow 30 percent for the full year.

Wipro shares were trading at 1119 rupees, down 5 percent, on the BSE late Thursday.

Reuters contributed to this report.