Wipro posts 7.6 percent Q2 profit fall as employee costs rise

India's third-biggest software services exporter, Wipro Ltd, reported a 7.6 percent fall in second-quarter profit on higher employee costs, even though it beat analysts' expectations.

Consolidated profit fell to 20.70 billion rupees ($309.57 million) for the three months ended Sept. 30, from 22.41 billion rupees, a year earlier, the company said in a statement on Friday.

Analysts on average expected a profit of 19.72 billion rupees, according to Thomson Reuters data.

($1 = 66.8679 rupees)