Country's third largest software exporter, Wipro has announced its results for third the quarter. The company posted net profit of Rs 10.04 billion for Q3 ended December 31,
08. the company posted net profit of Rs 8.54 billion for the same period last year.

Its total income stands at Rs 67.73 billion as compared to Rs 54.33 billion a year ago. The company posted 26 per cent increase in its operating profit.

The Chairman of Wipro, Azim Premji said, "For the quarter ended December 2008, we delivered a strong performance with IT Services revenues growing sequentially 3.5 per cent in constant currency."

The company expanded its customer base in the reporting period and bagged many contracts worth multi-billion dollar. Mr. Preji said, "We continue to win large deals; we won four multi-year multi-million dollar deals in the current quarter. We added 31 new customers."

Executive Director & Chief Financial Officer of Wipro, Suresh Senapaty said that the company suffered hard time in the third quarter under the impact of global slowdown.

However, it successfully covered losses by efficient business management. He added, "The IT services revenues were ahead of the guidance as measured in exchange rates prevailing as on September 30, 2008. We improved our offshore mix and significantly increased our mix of revenues from Fixed Price Projects."