Wipro Q4 profit rises 29 percent beating expectations

India's third-largest IT services exporter, Wipro Limited, registered a 29 percent rise in its fourth-quarter net profit, helped by increased IT spending by its customers. Like its rivals Infosys Ltd and Tata Consultancy Services Ltd, Wipro is banking on a revival in demand for IT services in the industry's biggest markets as the economies of the United States and Europe improve. For the quarter ended March 31, the company said it earned 22.27 billion rupees ($368.98 million) compared with 17.29 billion rupees a year earlier.