Wipro: India outsourcer's quarterly profit up, attrition rises

[Newsjock]

Source: Associated Press

MUMBAI, India — Indian software services firm Wipro said quarterly profit jumped 21 percent to 12.1 billion rupees ($269 million), as rising global demand for outsourcing spread from financial services to lagging sectors like technology and telecommunications.

"We have seen another strong quarter of broad-based, volume-led growth," Chairman Azim Premji said in a statement Friday. "The business environment is returning to normal."

Revenue for the January-to-March quarter was 69.8 billion rupees ($1.6 billion), 8 percent higher than a year earlier. Wipro also recommended a dividend of 6 rupees a share and an offer of two bonus shares for every three.

... Wipro said it added 27 new clients during the quarter, including U.S. insurer The Main Street America Group and Best Buy.

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