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Wipro earnings up 17% in 3Q

October 23 2007

IT services and offshore outsourcing specialist Wipro Ltd. (NYSE: WIT) recorded a jump of 17% in net income for the quarter ended Sept. 30. The company reported net income of $204 million on total revenue of $1.19 billion. Revenue were up 35% from the same quarter in 2006.

The company's Global IT Services and Products revenue was $816 million, representing an increase of 19% over the same period last year. The EBIT for this segment was $180 million, an increase of 8% over the same period last year.

Looking ahead to the quarter ending Dec. 31, the company expects revenue from its Global IT services business to be about $905 million, including incremental revenue of $60 million from acquisition.

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