Infosys ups fiscal guidance on robust growth

BANGALORE, INDIA: Infosys Ltd marginally revised its revenue guidance for this fiscal (2011-12) 1.5 per cent upwards to Rs.34,284 crore (Rs.343 billion) on robust growth in the third quarter (October-December) and a depreciating rupee against dollar.

In a regulatory filing Thursday, the IT bellwether said its consolidated revenue for this fiscal (FY 2012) would be in the range of Rs.34,273-34,294 crore as against Rs.33,795 crore projected in October 2011, reflecting year-on-year (YoY) growth of 24.7 percent.

Under the International Financial Regulatory System (IFRS), gross income is expected to be $7.03 billion, projecting 16.4 percent YoY growth but tad lower than $7.14 billion guidance given in October.

For the fourth quarter (January-March) of this fiscal, consolidated revenue will be Rs.9,402 crore, an increase of 30 percent YoY as per the Indian accounting standard.

Under the IFRS, gross income is expected to be $1.8 billion, an increase of 13 percent YoY.