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Infosys ups revenue guidance to 12 percent

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Infosys ups revenue guidance to 12 percent
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Mysore (Karnataka): Infosys has once again revised its revenue guidance for this fiscal (2013-14) upwards to 12 percent from previous estimate of 10 percent in dollar terms.

In a regulatory filing to stock exchanges Friday, the IT bellwether said revenues were expected to grow 11.5-12 percent in dollar terms and 24.4-24.9 percent for fiscal 2014 (FY 2014) from 22 percent in rupee terms as estimated in the second quarter of this fiscal.

Earlier, the reported net profit of Rs.2, 875 crore for third quarter (Oct-Dec) of this fiscal, posting 21.4 percent year-on-year (YoY) growth.

Consolidated revenue for the quarter under review (Q3), increased 25 percent YoY to Rs.13,026 crore as per the Indian accounting standard.

Under the International Financial Reporting Standard (IFRS), net income rose 6.7 percent to $463 million and gross revenue by 1.7 percent to $2.1 billion for the quarter.

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