Wipro profits up 18 pct on strong demand

(AP) Wipro says fourth quarter profits rose 18 percent from a year ago, to 17.2 billion rupees ($313 million), beating expectations as global cost cutting drives business to Indian outsourcing companies.

Revenues rose 10 percent to 110.3 billion rupees ($2.0 billion) for the October to December quarter.

Wipro says revenue from its core information technology services business will rise 0 to 3 percent to between $1.585 billion and $1.625 billion this quarter.

Wipro's rivals Tata Consultancy Services and Infosys also reported strong earnings this quarter, fueling hopes of a revival in technology spending, despite global uncertainties.