Currency moves to impact Q3 rev: Infosys
Infosys Technologies, India's No. 2 software services exporter, will see a impact on its December quarter revenue from currency moves, its chief executive said.business Updated: Nov 17, 2008 13:15 IST
Infosys Technologies, India's No. 2 software services exporter, will see a impact on its December quarter revenue from currency moves, its chief executive said on Monday.
"Definitely currency movement will have an impact but it is difficult to say what exactly it is," S Gopalakrishnan told reporters.
Nasdaq-listed Infosys is seeing flat billing rates and the company is on track to add 25,000 gross staff in the current fiscal year to March 2009 despite the financial sector turmoil, he said.
India's export-driven software service firms, used to a scorching pace of growth, have been badly hit by a slowdown in the United States, which contributes more than half their revenue, and the spreading global financial turmoil.
Last month, Infosys cut its forecast for full-year dollar revenue growth due to the global turmoil and the rise of the US currency against euro and British pound, even as it beat expectations with a 30 per cent rise in quarterly profit.