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Wipro Beats First-quarter Consolidated Profit Estimates

Wipro India's third-largest software services exporter, posted a 1.2 per cent rise in first-quarter consolidated profit helped by higher revenue from banking, financial services and insurance segment

Photo Credit : Reuters

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Wipro India's third-largest software services exporter, posted a 1.2 per cent rise in first-quarter consolidated profit helped by higher revenue from banking, financial services and insurance segment.

Consolidated profit rose to Rs 20.83 billion ($323.35 million) for the three months to June 30, Wipro said in a statement.

Analysts had expected a profit of Rs 20.29 billion, according to Thomson Reuters data.

The Bengaluru-headquartered company reported consolidated revenue of Rs 136.26 billion, while revenue from its core IT services came in at Rs 130.26 billion.

Wipro said it expected revenue from its IT services business to be in the range of $1.96 billion to $2 billion for the quarter ending on September 30.

(Reuters)


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