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 expecting.
In its fourth quarter ended March 31, consolidated net profit rose 17 percent to 17.29 billion rupees 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.