Wipro gives higher guidance for fourth quarter

Bengaluru, Jan 18 (IANS) Software major Wipro Ltd has projected higher revenue guidance from its IT services business for fourth quarter (January-March) despite not achieving a similar target for third quarter (Oct-Dec) of this fiscal (2015-16).

In a regulatory filing to the Bombay Stock Exchange (BSE) on Monday, the IT bellwether said revenue from IT services business would be in the range of $1,875-1,912 million for last quarter (Q4) of this fiscal (FY 2016).

Though the city-based outsourcing major said in October that revenue from its flagship business (IT services) would be in the range of $1,841-1,878 million for quarter ending December 31, it reported $1,838 million, a year-on-year (YoY) growth of 2.4 percent and 0.3 percent sequentially, with $1 at Rs.66.99.

In constant currency, however, IT services revenue grew 6.3 percent YoY and 1.4 percent sequentially in dollar terms and nine percent YoY in rupee terms.

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