IT major Wipro on Monday reported a profit of Rs. 1,300.9 crore in the second quarter of this fiscal against Rs. 1334.9 crore on a quarter on quarter (qoq) basis.

The company posted sales of Rs. 9,094.5 crore in Q2 against Rs. 8,564 crore (qoq).

The results are in line with the expectations. An NDTV poll had predicted a net profit of Rs. 1,284.6 crore and net sales of Rs. 8,933 crore in the second quarter of this fiscal.

The firm reported total revenue of Rs.90.94 billion ($1.85 billion) representing an increase of 18 per cent over the same period last year.

Wipro chairman Azim Premji said, “Macroeconomic sentiments continue to remain uncertain. We have seen growth momentum build up in our IT Business with healthy volume growth. Our focused investment strategy will get the business to a higher growth trajectory. ”

Net income for the quarter ended September 30, 2011 was Rs.13.01 billion ($265 million) representing an increase of 1 per cent over the same period last year.

Revenue from IT Services stood at $1,472 million, a sequential increase of 4.6 per cent and year on year (YoY) increase of 15.7 per cent.

The management sees revenues between $1,500 million -$1,530 million in Q3, which implies 1.9 per cent-3.9 per cent growth.

The guidance for Q3 of this fiscal is in line with analysts’ expectations.

The guidance rate is based on INR rate of 46.42/$.

The company added 44 new customers in the IT services segment in Q2.