On Wednesday, Wipro Ltd. posted a much-stronger-than-expected report for the year's third quarter, reporting a 21% rise in earnings. Also, the company has predicted that its results for the fourth-quarter would be even better, mainly on the back of an improving global economy and a rise in demand for products and services of the Indian software exporter.

Wipro, which is Indian's third largest software exporter with regards to revenue, has followed giant rivals Infosys Technologies Ltd. and Tata Consultancy Services Ltd. in posting better-than- expected earnings for the December Quarter.

Net profits for the company for the October-December period for the past year hiked to INR12.17 Billion from the figure of INR10.04 Billion which was recorded a year earlier.

Overall revenue, which included IT services and products, in addition to consumer care and lighting divisions of Wipro, surged by 5% to INR69.66 Billion, from last year's INR66.18 Billion.

"We reported another strong quarter, driven by significant uptick in volumes", Suresh Senapaty, Executive Director and Chief Financial Officer, said.

Analysts had estimated that Wipro would post a net profit of about INR11.28 Billion, on revenue of INR68.43 Billion.