Wipro achieves a quarterly profit of 31 percent

Bangalore, July 24 (ANI): Wipro, third-largest software provider has beaten expectations by posting a 31 percent rise in its quarterly profit.

"We had a strong quarter particularly in our after tax profit growth, our revenue grew by 16 percent and we had industry leading growths in profit after tax of 31 percent year on year," said Chairman Azim Premji.

Azim Premji further noted that in spite of the Europe crisis, the company has witnessed a strong demand for their services.

"In spite of all the reading which we have been doing on the Europe crisis, we are still finding demand is strong. It doesn't seem to have been in any way significantly affected over the past three months and traction is good both in Europe, in America, in Asia Pacific and of course in India and Middle East," he added.

Wipro shares rose to Rs 433 before ending lower at Rs 412 on the Bombay Stock Exchange on Friday. (ANI)