Wipro has announced financial results for its second quarter ended September 30,2011.

India's No. 3 software services exporter, beat brokerage estimates with its quarterly profit and forecast better-than-expected IT services revenue growth despite global uncertainty, sending its shares as much as 3 percent higher.

Highlights of the Results:

 IT Services Revenue was $1,472 million, a sequential increase of 4.6% and YoY increase of 15.7%.

 Non-GAAP constant currency revenue growth was 5.5% sequentially.

 Total Revenues were `90.94 billion ($1.85 billion1), an increase of 18% YoY.

 Non-GAAP Adjusted Net Income was `13.06 billion ($266 million1), an increase of 2% YoY. Net

Income was `13.01 billion ($265 million1), an increase of 1% YoY.

 IT Services Revenues were `68.29 billion ($1.39 billion1), an increase of 7% sequentially and 19%

YoY.

 IT Services Earnings Before Interest and Tax (EBIT) was `13.64 billion ($278 million1), an increase of

7% YoY.

 Our Operating Income to Revenue for IT Services was 20% for the quarter.

Azim Premji, Chairman of Wipro, commenting on the results said – “Macroeconomic sentiments continue to remain uncertain. We have seen growth momentum build up in our IT Business with healthy

volume growth. Our focused investment strategy will get the business to a higher growth trajectory. ”

Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said – “We are continuing to see incremental progress in our client mining strategy with 5 customers contributing more than $100

million of revenues and our top customer hitting a revenue run rate upwards of $200 million. We had an impact on operating margins in the quarter due to salary increases.”