Bangalore: Information Technology (IT) major Wipro on January 17 announced that its revenue for the quarter ended December 2002 had increased by 27 per cent year on year and profit after tax by three per cent.

Announcing the Q3 results, it noted its revenue touched Rs 11 billion and profit for the quarter was Rs 2.3 billion.

The company said it added 24 new customers in Global IT services during the quarter and the sequential growth in pricing and volume lead to 10 per cent growth in this sector.

Wipro Spectramind recorded revenue of Rs 564 million and PBIT of Rs 140 million, which is 25 per cent of revenue.

Wipro chairman Azim Premji commenting on the results for the quarter said, "We see sustained volume growth with prices stabilising in IT services and growing volumes and with intense price competition in the IT enabled services."

Wipro said for the quarter ended March 2003, it estimated the revenue in its global IT services business to be approximately $ 162 million, $ 12 million in Wipro Spectramind and $ 2.5 million in Wipro Health Science.

PTI