The Bengaluru-based company reported a consolidated fourth-quarter net profit of 29.72 billion rupees ($398.14 million), up 27.8% from a year earlier. Analysts had expected a profit of 28.31 billion rupees, according to Refinitiv IBES data.
March quarter IT services revenue rose 4% to 158.92 billion rupees and the company closed 12 large deal wins amounting to $1.4 billion.
Indian IT services companies which offer a range of services to clients in the banking, retail and other sectors by helping them run their business processes, have continued winning contracts and expanding over the past few months.
Wipro's large deal wins in the fourth quarter and its ability to replicate the strong performance in the third quarter was a surprise for investors, Investec analysts said.
"The guidance for Q1 of 2%-4% quarter-on-quarter growth on an organic basis was also a positive surprise considering first quarters have historically been weak for Wipro."
The company forecast June quarter IT services revenue in the range of $2,195 million to $2,238 million, a sequential growth of 2% to 4%.
"All key markets are now growing on year-on-year basis and this provides us a solid foundation to build on next year's growth rates," Thierry Delaporte, chief executive officer of Wipro said.
Larger peers Infosys and Tata Consultancy Services had lagged analysts' expectations early this week.
The Nifty IT services index rose 1.4% led by gains in Wipro, which was also one of the top boosts to the bluechip Nifty 50 index.
Wipro's shares are up 20.4% so far this year and have outperformed the IT index, which is up 9%.
($1 = 74.6475 Indian rupees)
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Shounak Dasgupta)