Wipro Q2 net up 1% at Rs 1301 crore; beats estimates (ET)

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Wipro Ltd , India's No. 3 software services exporter, on Monday posted a 1 per cent rise in quarterly profit, beating street estimates, helped by a weaker rupee and rise in spending on outsourcing by overseas clients. Wipro, which develops software applications, integrates IT systems and manages call centres, said net profit rose to Rs 1301 crore ($267 million) under international accounting standards, from Rs 1285 crore a year ago. This compares with a media poll forecast of Rs 1276 crore for Mumbai and New York-listed Wipro , which counts Citigroup , Cisco and Credit Suisse among its clients. Top software exporter Tata Consultancy Services Ltd posted a slightly lower-than-expected rise in quarterly profit earlier this month, while No 2 Infosys met street forecasts in its earnings. The top two outsourcing companies, however, sounded caution about the business outlook in the near term due to the global economic uncertainty.