Oct. 22--BANGALORE -- Wipro Ltd, India's third-largest software exporter, said second-quarter profit rose 28% to $309 million.
Total revenue from continuing operations for the September quarter rose 19% to $1.76 billion. Analysts on an average were expecting the company to post a profit of $302.6 million on revenue of $1.78 billion, according to analysts' estimates compiled by Bloomberg.
IT services revenue rose 5.9% in the quarter ended 30 September and was in line with the company's forecast but fell short of analysts' estimates.
The single digit revenue growth is also in contrast with other top software services firms such as Tata Consultancy Services Ltd, Infosys Ltd and HCL Technologies Ltd, all of which posted strong double-digit revenue growth rates.
Wipro, the only one among India's top 5 software services companies that provides quarterly guidance, forecast revenue in the range of $1.67-1.69 billion for the December quarter, which is expected to be the weakest quarter for Indian software exporters because of furloughs at clients.
For the September quarter, Wipro had forecast revenue in the range of $1.62-1.65 billion.