By Haripriya Suresh and Sai Ishwarbharath B BENGALURU/MUMBAI (Reuters) -India's No. 4 IT services provider Wipro beat third-quarter estimates for revenue and profit on Friday, and its CEO hoped for a better year after facing macroeconomic challenges in 2024.

Wipro's Q3 net profit and revenue came well above the Street's estimates while operational efficiencies and cost optimisation helped the IT major improve its EBIT margin to 17.5 percent, the highest in three years.

Wipro posted a 24.4% year-on-year rise in net profit for Q3 FY25, despite challenges in the IT sector. The Bengaluru company sees hopeful prospects for 2025, amidst cautious optimism from clients and ongoing macroeconomic challenges.

Wipro , India's fourth-largest IT services company, reported higher-than-expected third-quarter revenue on Friday, helped by positive momentum in its banking, financial services, and insurance (BFSI) vertical and in the Americas geography.

During the quarter under review, profit came at Rs 3,353.8 crore as against Rs 2,694.2 crore in the year-ago period.

Bengaluru-based IT services major Wipro posted a net profit of Rs 3,350 crore for the third quarter of FY25, up 24.5 per cent from a year ago. Profit was up 4.5 per cent quarter-on-quarter (Q-o-Q).

Wipro, India's fourth-largest IT services company, reported higher-than-expected third-quarter revenue on Friday, helped by positive momentum in its banking, financial services, and insurance (BFSI) vertical and in the Americas geography.