Wipro, which counts Citigroup, Credit Suisse and Cisco among its clients, said on Wednesday net profit rose to 8.98 billion rupees ($183 million) in October-December under US accounting rules, up from 8.26 billion rupees a year ago.

A Reuters poll had forecast a net profit of 8.99 billion rupees for Wipro, which provides IT solutions and services such as system integration, software application development and maintenance and research services.

Revelations of overstated profits and fictitious assets at fourth-ranked Satyam Computer Services have cast a shadow over India's outsourcing sector, which was already struggling with slowing growth due to global financial turmoil.

Wipro said last week the World Bank had barred the company from direct contracts until 2011, citing a conflict of interest, adding to the glum outlook.