Wipro today reported 18.76% rise in Q2FY10 consolidated net profit at Rs 1,161.70 crore as against Rs 978.20 crore in the corresponding quarter a year ago.

According to a release issued by the company to the BSE, group's total income grew 5.89% to Rs 7,057.40 crore from Rs 6,664.80 crore in the quarter ended September 2008.

The flagship IT services revenues at Rs 4996 crore grew by 5 per cent and sequentially was up 3.5 per cent. Operating profit for this business at Rs 1187 crore grew by 19 per cent

Commenting on the results, Azim Premji, chairman, Wipro said that they are seeing more stability in volumes and pricing as well as an improving demand environment. The company for its IT services business has guided the Street that it will grow by 2.5 per cent for the third quarter of FY10.

Source: Business Standard