Bangalore: Wipro Limited, India's third largest software exporter, on August 6 reported a net profit of Rs 200 crore for the quarter ended June 30, 2002, a six per cent decrease over the same period last year (2001).

"The decrease is primarily on account of decrease in returns on cash surplus and increase in tax charge", a Wipro statement said.

However, revenue for the quarter grew 19 per cent year-on-year to Rs 930 crore.

Meanwhile, Wipro has acquired majority stake in Spectramind e-Services Private Limited.

Wipro on August 5 entered into a definitive agreement to acquire an additional 66 per cent stake in Spectramind for Rs 406.9 crore in cash.

Wipro's aggregate interest in Spectramind after the purchase would be around 90 per cent of all outstanding equity shares, including convertible preference shares, a company statement said.

Spectramind, in its first full year of operations, for the year ended March 31, 2002, recorded revenue of $ 10 million and loss of $ two million.

Revenue for the quarter ended June 30, 2002 was $ 6 million and profit after tax was $ 0.3 million.

As of June 30, 2002, Spectramind had seven customers and over 2,700 employees. For the year ending March 2003, Spectramind is estimated to achieve revenues of about $45 million, the statement said.

PTI