Wipro, India's third largest software exporter, reported a rise of 41.38% on consolidated basis to Rs 22.39 billion for the quarter ended Mar. 31, 2014. On sequential basis, Wipro reported a rise of 10.51% in quarterly profit. Market was expecting profit to came at Rs 20.80 billion.
 
Consolidated revenues for the quarter ended Mar. 31, 2014 went up by 21.75% y-o-y to Rs 117.03 billion.

IT Services Revenues in Rupee terms was Rs 106.2 billion (USD 1.8 billion1), an increase of 24% YoY.

''We expect revenues from our IT services business to be in the range of USD 1,715 million to USD 1,755 million for the first quarter of fiscal 2015,'' the company said.

Azim Premji, chairman of Wipro, commenting on the results said, ''The steady improvement in global economy, coupled with the exciting pace of technological advancements, presents us with opportunities to create innovative solutions to help our customers differentiate, compete and succeed in their respective markets.''

T K Kurien, executive director & chief executive officer of Wipro, said, ''Our focus on process simplification, automation and platform-based delivery continues to deliver results and we are seeing the benefits through improved productivity, reduced timelines in execution and greaterbusiness agility. It is also gratifying to see that this focus has enabled improved win ratios and has also enhanced customer satisfaction.''

Suresh Senapaty, executive director & chief financial officer of Wipro, said, ''We continue to systematically work on improving our operational efficiencies resulting in expansion of full year IT Services operating margins by 195 basis points.''

Shares of the company gained Rs 13.65, or 2.39%, to settle at Rs 585.55. The total volume of shares traded was 198,799 at the BSE (Thursday).