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Wipro quarterly net profit up 7.7%

Wipro Ltd, India's third largest IT exporter, on Wednesday reported a 7.7% rise in quarterly net profit, meeting street expectations.

Consolidated net profit rose to Rs 1481 crore for the fourth-quarter up from Rs 1375 crore registered during the year-ago quarter. Consolidated revenues of the firm grew by 19% to Rs 9869 crore, while earnings from its IT Services business grew by 21% YoY to Rs 7590 crore.

The company has given a guidance of $1520-$1550 million for IT services revenue for the first quarter of FY13, reflecting a QoQ growth rate of -1 to 1%.

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