No change in Infosys revenue guidance for FY 2008 | business | Hindustan Times
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No change in Infosys revenue guidance for FY 2008

business Updated: Jan 11, 2008 13:18 IST
IANS
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Infosys Technologies Ltd has retained its revenue guidance for this fiscal (FY 2008) at Rs 167 billion, projecting year-on-year (YoY) growth of 20 per cent under Indian GAAP.

In a notification to the stock exchanges in Bangalore on Friday, the IT bellwether said its consolidated income under Indian GAAP for this fiscal (2007-08) would be in the range of Rs 166.3-166.5 billion, reflecting YoY growth of 19.7-19.9 per cent under Indian GAAP.

Under the US GAAP, the consolidated revenue is expected to be $4.2 billion, projecting YoY growth of 35 per cent for FY 2008.

At the beginning of the third quarter in October, Infosys revised its guidance upwards to Rs 166.5 billion ($4.2 billion) from the previous projection of Rs 162-164 billion under Indian GAAP and $4 billion under US GAAP.

For the fourth quarter (Jan-March) of this fiscal, the top-line growth (revenue) is projected to be about Rs 45 billion under Indian GAAP, a YoY growth of 19 per cent, and $1.14 billion under the US GAAP, a YoY growth of 32 per cent.

Earlier on Friday morning, Infosys announced a net profit of Rs 12.3 billion during the third quarter (Oct-Dec) of this fiscal (2007-08), registering year-on-year (YoY) growth of 25 per cent under the Indian GAAP.

In a notification to the stock exchanges in Bangalore, the company said the consolidated income for the quarter under review (Q3) was Rs 42.7 billion, posting YoY growth of 17 per cent under the Indian GAAP.

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