India's third-largest software services exporter Wipro's net profit for the third quarter of fiscal year 2011 grew 3.4% on quarter-on-quarter basis. The number stood at Rs 1,319 crore as against Rs 1,276 crore reported last quarter. Its consolidated revenues too went up to Rs 7,829 crore from Rs 7,731 crore and dollar denominated global IT revenues rose 5.6% to USD 1.34 billion (QoQ).
The company also surprised markets with the resignations of the joint-CEOs of its information technology business saying said that company veteran TK Kurien is taking over as the new chief executive of the unit. Calling the structure of a single CEO 'more appropriate' for coming years, chairman Azim Premji said, "Current joint CEOs will exit by April 1 and the new CEO will takeover. He will be a transformational leader and a strong growth manager." For his complete address to the press, watch videoDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
