By Harichandan Arakali
BANGALORE (Reuters) - Wipro Ltd
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.
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Wipro is the last of India's major software services providers to report results for the latest quarter.
Industry leader Tata Consultancy Services Ltd
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 consultancy-led services.
On Wednesday, fourth-ranked HCL Technologies Ltd
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)