Infosys increases annual revenue guidance marginally

Infosys Technologies Ltd. has revised its annual revenue guidance for the current fiscal marginally upwards by two to three per cent.

Infosys Technologies Ltd. has revised its annual revenue guidance for the current fiscal (2007-08) marginally upwards by two to three per cent in the wake of healthy top line growth in the second quarter (July-September).

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In a notification to the stock exchanges in Bangalore on Thursday, India's second largest IT bellwether said as per the revised guidance, the consolidated income for the entire fiscal (FY 2008) would be about Rs.166-167 billion, projecting year-on-year (YoY) growth of 19-20 percent under the Indian GAAP.

"The annual guidance has been revised upwards following a healthy sequential growth of nine percent in the second quarter (Q2) and pricing remaining stable with an upward bias," a company official told IANS in Bangalore.

Under the US GAAP, the consolidated revenue is estimated to be $4.17 billion, projecting YoY growth of 35 per cent.

For the third quarter (Oct-Dec) of this fiscal, consolidated revenue is expected to be Rs.43 billion ($1.07 billion), reflecting YoY growth of 16-17 percent under the Indian GAAP and 30-31 percent under US GAAP.