Wipro projects Rs 27 bn revenue in 2nd quarter

The company said higher guidance was based on the performance of its global IT division during the first quarter.

Wipro Ltd has projected a revenue of Rs 27 billion from its global IT services and products division for the second quarter (July-September) of the current fiscal 2006-07.

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In a notification to the stock exchanges on Wednesday, the company said the higher guidance was based on the performance of its global IT division during the first quarter (April-June) of the current fiscal when it posted Rs 24.5 billion as against the projected revenue of $533 million.

"Our global IT service business continued to witness broad based growth, across verticals, geographies and service lines. The external environment remains buoyant." Wipro chairman Azim H Premji said in a statement.

He added: "We see offshoring at the centrestage of IT strategy of global corporations. We are well positioned to benefit from our diversified service portfolio and industry expertise.

Looking ahead, we expect revenue from our global IT services business to be about $577 million for the second quarter ending September."