Indian IT giant Wipro made a profit of R8.26bn (£107m) in the last quarter, an increase of 11 per cent on the same period of 2006.

Revenue was R52.36bn (£680m), representing growth of 32 per cent.

The firm's domestic IT services division grew earnings by 40 per cent, compared with 26 per cent growth in the global business.

Wipro chairman Azim Premji said: "We continue to see good momentum in all our businesses.

"Revenues from our Global IT Services were ahead of our guidance.

"And Our Financial Services business grew nearly double digit sequentially during the quarter despite this being challenging times for the sector."