By Haripriya Suresh and Sai Ishwarbharath B BENGALURU/MUMBAI (Reuters) -India's No. 4 IT services provider Wipro beat third-quarter estimates for revenue and profit on Friday, and its CEO hoped for a better year after facing macroeconomic challenges in 2024.

Wipro reported a strong Q3 FY25, exceeding expectations with a 24.4% rise in net profit. The IT services company sees cautious optimism and returning discretionary spending in 2025.

Bengaluru-based IT services major Wipro posted a net profit of Rs 3,350 crore for the third quarter of FY25, up 24.5 per cent from a year ago. Profit was up 4.5 per cent quarter-on-quarter (Q-o-Q).

Wipro's revenue dropped 0.7% year-on-year in the Dec quarter but met its guidance, with a forecasted growth of -2% to 0% for the next quarter. The company reported a positive outlook with increasing AI spending,

Wipro Ltd's Q3 net profit rose about 4.5 percent quarter-on-quarter to Rs 3,354 crore, beating Street estimates. Revenue was flat at Rs 22,319 crore for the fiscal third quarter. A Moneycontrol poll of nine brokerages estimated Wipro's Q3 consolidated net profit to shrink 5 percent quarter-on-quarter to Rs 3,

For the fourth quarter of FY25, which would be March 31, 2025 period, Wipro expects revenue of its IT Services business segment to be in the range of $2,602 million to $2,655 million. This translates to sequential guidance of (-)1.