* Sees Q1 IT services business revenue $1.58 bln-$1.61 bln
* Q4 net profit 17.29 bln rupees vs 14.81 bln rupees year
(Adds forecast, details)
By Harichandan Arakali
BANGALORE, April 19 (Reuters) - Wipro Ltd, India's
third-largest software services provider, forecast on Friday
weaker-than-expected revenue for the June quarter, including a
possible decline in revenue.
Wipro, whose customers include Citigroup Inc and Apple Inc,
projected first-quarter revenue for its IT services business to
be in a range of $1.58 billion to $1.61 billion - a decline of
0.6 percent to a rise of 1.6 percent over the previous quarter.
That compares with a rise of 1 to 4 percent that analysts were
In its fourth quarter ended March 31, consolidated net
profit rose 17 percent to 17.29 billion rupees ($320 million)
from 14.81 billion rupees a year earlier, Wipro said.
That was in line with the 17 billion rupee average of 19
brokerage estimates according to Thomson Reuters I/B/E/S.
Fourth-quarter revenue rose 13 percent to 96.1 billion rupees.
Revenue for discontinued operations was 14.12 billion rupees.
Wipro is the last of India's major software services
providers to report results for the latest quarter.
Industry leader Tata Consultancy Services Ltd on
Wednesday reported profits that were roughly in line with
estimates and said the company would grow faster than the
industry in the current fiscal year.
Second-ranked Infosys on April 11 missed expectations with a
full-year dollar-revenue forecast of 6-10 percent. That dimmed
investor hopes that it will soon benefit from a strategic revamp
aimed at boosting revenue from software products and
On Wednesday, fourth-ranked HCL Technologies Ltd
reported March quarter profits and revenue that beat analysts'
estimates after it cut staff for the second quarter in a row.
Shares of Wipro did not trade on Friday because Indian
financial markets were closed for a public holiday.
(Aditional reporting by Prashant Mehra and writing by Aradhana
Aravindan; Editing by Chris Gallagher)