India’s third-biggest software company, Wipro ltd. on Friday said net profit growth to three percent in the fiscal fourth quarter as it battled the impact of a US economic slowdown.

The market had expected Wipro to report net profit of as much as 8.9 billion rupees for the quarter. The Bangalore-based company’s fourth-quarter revenue expanded 32 percent to 57 billion rupees.

The company has diversified from being a maker of soaps and vegetable oils to software, riding the outsourcing wave of the past decade that saw US companies farm out computer services work to India to tap its low-cost engineering talent pool.

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