Beating it’s own global IT services revenue forecast of $905 million, software major Wipro has announced revenues of $910 million for the third quarter of the current fiscal year, and also dispelled doubts over continued revenue growth in the last quarter due to US economy slowdown.

Wipro chairman Azim Premji, who called the Q3 results “satisfying”, has projected revenue from the global IT business to be around $955 million for the last quarter of the fiscal year. In results announced on Friday, Wipro registered total revenues of Rs 5,303 crore from all its businesses and a profit after tax of Rs 854 crore, a growth of 33 per cent and 11 per cent respectively over the same period last year. On a sequential basis the revenue and profit growth was logged at a more sluggish 9 per cent and 2 per cent respectively. The global IT business of the company continued to be the primary growth driver with Rs 3,614 crore in revenue and Rs 744 crore in profits before interest and tax - growth of 11 per cent and 4 per cent each over Q2 of the current fiscal.

“We continue to see good momentum in all our businesses. Organically, our margins remained flat despite an appreciating rupee and increased costs on account of wage hikes affected. We continue to win large deals and have a healthy pipeline of these deals as we move into the new calendar year,” the Wipro chairman said.

The company also reported strong growth in its IT business for the Asia Pacific, Middle East and India with profits growing by nearly 50 per cent over last year at Rs 76 crore. “We have started investing in the Middle East and Asia over the last three years and are seeing very string traction for our solutions and services in these markets as well,” Premji said.

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