Wipro, 3rd largest domestic software provider, has delivered Q1FY11Net Sales of Rs 7236.4 crore, representing a growth of 3.6% on sequential quarter basis. Strong volume across in IT services and BFSI & manufacturing verticals aided the company to post impressive QoQ revenues growth. Despite of hike in salaries and cross currency revenues, better forex management (+ 60 bps) aided EBITDA margin to improve by 80 bps (QoQ) to 22.6% in current quarter. Owing to lower tax provisioning and better operating profits, Net Profit in Q1FY11 grew by 29.4% (YoY) and 9.1% (QoQ) to Rs 1318.4 crore.