By IANS
Bangalore : Wipro Ltd has projected $905 million (Rs.39.97 billion) from its global IT services and products business for the third quarter (Oct-Dec) of this fiscal (FY 2008).
In a notification to the stock exchanges here Friday, the IT bellwether said the robust guidance was based on the flagship IT division’s performance in the second quarter (July-Sept) of this fiscal, which at $797 million was $20 million more than the projected $777 million.
“The guidance of $905 million for our global IT services and products business includes $60 million from acquisitions,” Wipro chief financial officer Suresh Senapaty said in a statement.
Unlike Infosys and other major IT firms, Wipro does not give guidance for the entire fiscal as a policy even for its flagship IT division.
The company’s operating margins, however, were marginally impacted in the second quarter (Q2) by an appreciating rupee, declining to 18 percent from 21 percent in the same period of the last fiscal (FY 2007).