INSUBCONTINENT EXCLUSIVE:
Wipro shares finished with a loss of 1.5% on the NSE and 0.8% on the BSE.Country's third-largest software services exporter Wipro Ltd
reported a two per cent rise in first-quarter net profit on Friday, beating estimates, helped by higher revenue from its Banking, Financial
Services and Insurance business (BFSI)
Net profit for the three months to June 30 rose to Rs 2,121 crore ($307.55 million) from Rs 2,077 crore a year earlier, the
showed.Revenue from IT services grew by about 5 per cent to Rs 13,700 crore while the BFSI business grew 17.5 per cent to Rs 4,110
to grow 0.3-2.3 per cent quarter on quarter for the three months to September 30
IT services revenue is expected to rise to between $2.01 billion and $2.05 billion, it said, excluding the impact of its divestment of its
hosted data centre services business."We have seen a pick-up in spending in the developed markets, particularly in North America and BFSI,"
said Chief Executive Officer Abidali Z Neemuchwala.Meanwhile, Wipro also said it would buy US-based Alight Solutions' India operations for
The IT major said it would buy Alight HR Services India Pvt Ltd, which is Alight Solutions' captive operations in India
The deal is expected to be completed in the quarter ending September.India's $154 billion software services industry, led by Tata
Consultancy Services and Infosys Ltd, faces tighter margins in legacy businesses such as routine infrastructure maintenance as clients
increasingly demand more work for less money.Still, Tata Consultancy Services this month posted a record profit helped by a rebound in its
