Wipro projects $1 billion IT revenue for first quarter

Wipro Ltd has projected $1.06 billion revenue from its global IT business for the first quarter (April-June) of fiscal 2008-09 under the American accounting practice.

Wipro Ltd has projected $1.06 billion revenue from its global IT business for the first quarter (April-June) of fiscal 2008-09 under the American accounting practice.

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In a notification to the stock exchanges here Friday, the IT bellwether said the guidance for the first quarter (Q1) of FY 2009 was on the basis of its global IT business revenue at $960 million, which is $4 million higher than the projected $955 million for the fourth quarter (January-March) of FY 2008, registering year-on-year (YoY) growth of 39 percent over the same period of the previous fiscal (FY 2007).

Unlike its rival Infosys Technologies Ltd, Wipro does not give guidance for the entire fiscal, as the group has manufacturing and other businesses.