net profit at Rs 1,716 crore for October -December quarter, but said it remains cautious even though global economic factors are stabilising.
Wipro scrip fell 7.88 per cent to close at Rs 397.15 on the BSE, which some analysts attributed to "soft" guidance.
"Wipro reported results soft on revenue but stronger on margin than expectation. Guidance looks softer than what consensus might be expecting," according to a Prabhudas Lilladher report.
Revenues of the Bangalore-based firm rose 10 per cent to Rs 11,025 crore for the third quarter of 2012-13 fiscal, from Rs 9,965.1 crore in the same period of last fiscal.
The IT services revenue, which accounted for 78 per cent of total revenues, stood at USD 1.577 billion (Rs 8,602 crore in rupee terms) in the quarter, up 4.8 per cent year-on-year and 2.4 per cent compared to July-September 2012 quarter.
Wipro expects revenues from IT services business to be in the range of USD 1.585 billion to USD 1.625 billion for the quarter ending March 31.
In constant currency, the IT services revenue for the October-December quarter, at USD 1.571 billion, "was within our guidance range of USD 1.560 billion to USD 1.590 billion", Wipro said.
"While the overall mood on economic growth continues to be muted, global corporations continue to leverage technology to drive revenues and productivity... Overall, economic factors are stabilising globally," Chairman Azim Premji told reporters here.
He added that the US economy is showing some improvement with increase in retail and consumer demand and stability in unemployment rate, while Europe is steady and global leaders he spoke to are now more confident on the business environment than they were two-three months ago.
The US and Europe account for more than 75 per cent of India's IT outsourcing revenue.
Though the company remains positive on demand environment in the quarters ahead, it expressed uncertainty on execution and ramp-ups of new projects.
"It has become a little more positive. That's the good news," Wipro Executive Director and CEO (IT Business) T K Kurien said.
"The bad news is that from our perspective we see two challenges. One, we see the fiscal cliff talks still continuing and we don't