BANGALORE: Infosys Technologies Ltd. has marginally raised its earnings estimate for the year ending March 2006 due to a change in accounting requirements under U.S. rules, the company said.
Infosys said in a filing to the U.S Securities and Exchange Commission that its earnings per ADS has been revised to $1.95-$1.98, compared with $1.92-$1.95 announced on April 14.
"It (the revision) was on account of stock option accounting," a spokeswoman told Reuters on Monday.
After Infosys had put out its forecast, the U.S. SEC said that a change in share-based payment accounting was to become effective from April 2006 onwards only, the company said.
Infosys, India's second-largest software services exporter, said there was no revision in the outlook of consolidated revenues or any estimates given under the Indian accounting standards.