Wipro, India's third largest software exporter's, reported a rise of 17.49% on consolidated basis to Rs 20,272 million for the quarter ended December 31, 2013.On sequential basis, Wipro reported a rise of 4.37% in quarterly profit.
 
Consolidated revenues for the quarter ended Dec. 31, 2013 went up by 18% y-o-y to Rs 113.3 billion.

IT Services Revenues in Rupee terms was Rs 103.3 billion (USD 1,668 million1), an increase of 20% YoY.

''We expect revenues from our IT services business to be in the range of USD 1,712 million to USD 1,745 million including the revenues from our acquisition,'' the company said.

Azim Premji, chairman of Wipro, commenting on the results said, ''As the global economy is progressing towards stability, we see optimism amongst clients, especially in the West. Corporations are leveraging technology to reduce operational costs and investing resources in differentiating themselves in the marketplace.''

T K Kurien, executive director & CEO, Wipro, said, ''Our focus on account management has yielded encouraging results. We continue to execute to our strategy for superior engagement with clients while investing in emerging technologies to drive towards a higher growth trajectory. During the quarter, our Global Infrastructure Services business grew strongly on revenues.''

Suresh Senapaty, executive director & CFO, Wipro, said, ''Our strategy of 'standardization at the core' is yielding results. Our investments in automation and productivity tools have driven efficiencies and helped us expand margins of IT Services by 54 basis points to 23%.''

Shares of the company declined Rs 17.95, or 3.15%, to settle at Rs 552.45. The total volume of shares traded was 294,963 at the BSE (Friday).