Bangalore, July 22 - Wipro Ltd projected revenue of $1.03-1.05 billion from its global IT services for the second quarter (July-September) of this fiscal (2009-10).

In a regulatory filing Wednesday, the IT bellwether said the guidance was based on its performance in the first quarter (April-June) when its flagship business division revenue at $1.03 billion showed decline of 1.3 percent sequentially and 3.3 percent year-on-year (YoY).

'We are starting to see the first signs of stability in the business as ramp downs start to taper off and volumes start to stabilise. We expect revenues from our IT services to be in the range of $1035-1055 million in the second quarter ending September,' Wipro chairperson Azim Premji said in a statement.

Unlike its rival Infosys, Wipro does not give guidance for the entire fiscal.