IT sector major, Wipro has posted a higher than expected market share for the third quarter of the year.

The company’s consolidated net profit for October-December rose 10 per cent year-on-year to Rs 1,456 crore. The company is concerned over uncertainties in the global economic environment.

The private sector firm reported an increase of 28% in revenues from a year ago to Rs 9,997 crore. Experts had estimated that the company would report a net profit of Rs 1,450 crore on revenue of Rs 9,765 crore.

The revenues from IT services rose 28% year-on-year to Rs 7,608 crore. IT services revenue rose 12% from a year ago and 2.2% sequentially to $ 1.51 billion. The company now expects IT services revenue in $ 1.52-1.55 billion range in the fourth quarter up 1-3% quarter-on-quarter.

"We continue to execute on our strategy and propel the business towards a higher growth trajectory. The overall macro economic sentiments continue to be uncertain and we are monitoring it closely," said Chairman Azim Premji.

The company’s earnings was boosted by depreciation in the value of rupee and outsourcing demand from international players.