Infosys again lowers revenue guidance

Global software major Infosys on Friday further lowered its dollar revenue guidance for fiscal 2016-17 to 7.2-7.6 per cent under the International Financial Reporting Standard (IFRS).

In a regulatory filing to the BSE, the IT behemoth said the consolidated revenue growth for the fiscal year ending March 31, 2017, would be 7.2-7.6 per cent as per the December 31 dollar rate of Rs 67.93 as against 8-9 per cent projected in October.

In constant currency, the revenue outlook for FY 2017 is 8.4-8.8 per cent.

With the rupee weakening to Rs 67.93 per dollar in December from Rs 66.62 in September and June this fiscal, the revenue guidance translates to 7.9-8.3 per cent for FY 2017 at the end of the last two quarters (July-September and April-June).

Under the Indian accounting standard, the consolidated revenue growth in rupee term would be, however, 8.4-8.8 per cent as against 8-9 per cent in constant currency.

"The revised rupee guidance will translate to 10-10.4 per cent on December 31 dollar rate of Rs 67.93, 11.3-11.7 per cent on September 30 dollar rate of Rs 66.62 and 11.6-12 per cent on June 30 dollar rate of Rs.67.53," said the filing.

--IANS

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