Bangalore: Wipro remains cautious in the near-term on revenue guidance from its combined IT services despite a healthy topline and bottomline growth in the first quarter (April-June) of this fiscal (2008-09) over the same period last fiscal.

"Given the environment, we remain cautious in the near-term. Looking ahead, we expect revenue from IT services business to be about $1.09 billion by the end of second quarter (July-September) of this fiscal," Wipro chairman Azim H. Premji told reporters here Friday.

The IT revenue for this quarter (Q2) is projected to be 27 percent higher year-on-year (YoY) and two percent sequentially over the first quarter, which was $1.07 billion, marginally ahead of the guidance of $1.06 billion given in April.

India's third largest IT bellwether posted net profit of Rs.9.08 billion for the quarter under review (Q1), registering 25 percent growth over same quarter last fiscal at Rs.7.26 billion under the Indian accounting standards.

Similarly, consolidated revenue increased to Rs.59.67 billion during the quarter under review (Q1), posting 43 percent year-on-year (YoY) growth over the same quarter last fiscal at Rs.41.79 billion, under the Indian accounting standards.

As per the American accounting standard, net income rose to $190 million, representing an increase of 15 percent YoY. Similarly, consolidated income rose to $1.39 billion, which is 43 percent higher YoY.