Summary Box: Wipro profit up 8 percent

AP News
Posted: Apr 25, 2012 12:10 PM
Summary Box: Wipro profit up 8 percent

THE GOOD NEWS: Outsourcing company Wipro's quarterly net income was 14.8 billion rupees ($291 million). Sales rose 19 percent, as its global clients turned to the company to cut costs amid economic uncertainty.

MURKY OUTLOOK: The company said revenue in its mainstay IT services business could fall slightly this quarter. It was up almost 10 percent last quarter.

WORLD WORRIES: Some analysts say global uncertainty is hitting Indian companies more than expected. Amid strong cost pressures, particularly in the U.S., some have chosen to chase high margin deals, hurting volume growth.