Wipro Ltd, India’s third largest software services exporter, reported a growth of 12% in its net profits to Rs 1,016 crore beating the analyst’s expectations for the quarter ended June 30, 2009, as compared to the same period of the last year. The topline of the company, which also deals with soaps, furniture and heavy engineering equipment, climbed up by 5% to Rs 6,274 crore.

Revenue from the flagship IT services stood at Rs 4,825 crore — a 10 per cent growth YoY and a sequential dip of 2 per cent.

The company added 26 new clients including Unitech Wireless, taking the total number of active clients to 830. It expects around 4,000 campus recruits, to whom offers were given in the previous year, to join the company by December.

According to the analysts, the top 3 IT software and services exporters i.e. Tata Consultancy Services (TCS), Infosys and Wipro have fairly well in challenging times also.

Mr. Azim Premji, billionaire chairman of Wipro, declared that they are starting to see the first signs of stability in the business as ramp downs start to taper off and volumes start to stabilize.

Wipro’s IT services business accounted for 77% of the company’s total earnings and 93% of the PBIT (gross profit).

On Thursday, shares of Wipro closed at Rs 456.25, up 1.16% on the Bombay Stock Exchange.