Infosys lowers rupee guidance to 2-3 per cent

Software major Infosys on Friday lowered its consolidated annual revenue guidance to 2.1-3.1 per cent from 3-4 per cent in rupee terms but maintained in dollars at 6.5-7.5 per cent for fiscal 2017-18.

In a regulatory filing on the BSE, the city-based firm said revenue growth was expected to be 2.1-3.1 per cent annually at the December 31 exchange rate of Rs 63.88 per US dollar.

"The annual revenue is expected to grow 5.5-6.5 per cent in constancy currency (CC) in rupee and dollar terms but 2.1-3-1 per cent, with the dollar at Rs 63.88 per dollar," said the company.

Under the International Financial Reporting Standard (IFRS), the company said the annual revenue growth in dollar terms would be 6.5-7.5 per cent with the exchange rate of Rs 63.88 per dollar and same (5.5-6.5 per cent) in CC.

The company posted consolidated revenue of $10.2 billion or Rs 68,484 crore for fiscal 2016-17.

The revised outlook in rupee terms is lower than 3-4 per cent given on October 24 when the dollar was Rs 65.29 on September 30 and 3-5 per cent on July 14 with dollar at Rs 64.58 on June 30.

--IANS

fb/mr