MUMBAI: Wipro Ltd <WIPR.NS>, India's third-largest software services exporter, posted a 1.6 percent fall in net profit for its fourth-fiscal quarter, missing analysts' expectations.
Wipro results follow estimate-beating earnings by larger rivals Tata Consultancy Services Ltd <TCS.NS> and Infosys Ltd <INFY.NS>.
The Bengaluru-based company reported a consolidated net profit of 22.35 billion rupees ($337.6 million) for the Jan-March period, compared to 22.72 billion rupees a year earlier.
Analyst on average were expecting the company to report 23.43 billion rupees in profit for the three-month period, according to Thomson Reuters data.
The company separately approved a share buyback for 25 billion rupees.