Indian software services provider Wipro's consolidated net profit grew 23.8 per cent to Rs 1,610.6 crore in the three months through September 30, against a net profit of Rs 1,300.9 crore in the corresponding period of previous fiscal.

On a sequential basis, net profit climbed 1.9 per cent, from Rs. 1,580 crore in the June quarter to Rs. 1,610 crore in the September quarter. The results beat analysts' estimates. Analysts had projected a marginal decline in profitability for the company.

For the final quarter of current fiscal, the company estimated revenue increase of 1.3-3.2 per cent from the third quarter to $1560-$1590 million. The company's forecast is in line with analysts' projection of 1-4 per cent increase.

But, consolidated sales remained almost flat at Rs. 10,657 crore in the September quarter against Rs. 10,653 crore in the previous quarter. The figure is lower than analysts' average estimate of Rs. 10,811 crore.

The company also announced the demerger its non-IT services business, such as consumer care and medical diagnostics into a separate company.

Wipro Chairman Azim Premji said the demerger would enhance growth and value for all the company's stakeholders.

A statement released by Premji read, "I am confident that the demerger will enhance the value for all our stakeholders and provide fresh momentum for growth for each of our businesses."

Wipro demerged its non-IT services business so that it could concentrate more on the outsourcing business that accounted for 86 per cent of the company's revenue in the previous fiscal year.