Wipro Q2 Net Profit Rises 24%

Wipro Ltd

reported a 24% increase in its Q2 net profit. Wipro's quarterly net profit rose to 16.11 billion rupees ($300 million), from INR13.01 billion, in the year-ago period. Its sales climbed 17% to INR106.20 billion from INR90.65 billion. However, analysts were expecting a net profit of INR15.23 billion on revenue of INR108.42 billion. Wipro shares closed at $8.61 yesterday.