India's Wipro fourth-quarter profit rises 38 percent

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(Reuters) – Indian software services exporter Wipro Ltd on Tuesday

posted here 38 percent rise in fourth-quarter profit, helped by a strong performance from its banking, financial services and insurance segment.

Net profit rose to 24.84 billion rupees ($356.54 million) in the three months to March 31, from 18.03 billion rupees in the same period a year earlier, the company said.

Wipro also said it will buy back shares worth up to 105 billion rupees.

Revenue from its mainstay IT services business grew 11.1 percent, driving the Bengaluru-based company’s total revenue to 150.38 billion rupees from 138.24 billion rupees last year.

Earlier in the day, Wipro said some of its employee accounts may have been hacked due to an advanced phishing campaign without revealing which clients had been affected.

($1 = 69.6700 Indian rupees)

Reporting by Arnab Paul and Chandini Monnappa in Bengaluru; Editing by Rashmi Aich

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