Wipro said it expects its IT service revenue for the October-December quarter of 2016-17 to be in the range of $1,916 million to $1,955 million
India's third largest software services firm Wipro, on Friday, reported 7.6 per cent decline, year-on-year, in consolidated net profit at Rs 2,070.4 crore (Rs 20.70 billion) for the September quarter of the current financial year.
Stating that it foresees a "mixed" demand environment, Wipro said it expects its IT service revenue for the October-December quarter of 2016-17 to be in the range of $1,916 million to $1,955 million.
With IT services revenue at $1,916 million in the September quarter, Wipro missed its guidance of $1,931 million to $1,950 million given at the beginning of the quarter.
"As we look forward, the demand environment is mixed in a seasonally weak quarter affected by furloughs and lower number of working days," Wipro chief financial officer Jatin Dalal said in a statement.
The Bengaluru-headquartered firm had posted a net profit (after tax, minority interest and share of profit of associates) of Rs 2,241 crore (Rs 22.41 billion) in the year-ago period.
Total income from operations rose by 10.5 per cent to Rs 13,897 crore (Rs 138.97 billion) in July-September quarter of this fiscal from Rs 12,567 crore (Rs 125.67 billion) in the same period a year ago, it added.
The IT services segment had a headcount of 174,238 as of September 30, 2016.
Wipro's IT products segment delivered revenue of Rs 770 crore ($115 million) in the reported quarter.
Photograph: Punit Paranjpe/Reuters