Infosys ups revenue forecast for this fiscal

Infosys Ltd has revised its revenue guidance upwards in rupee terms for this fiscal (2013-14) to 13-17 percent year-on-year (YoY) from 6-10 percent YoY projected in April, reflecting the recent weakening of the rupee against the US dollar.

In a regulatory filing to the stock exchanges, the global software major said the consolidated revenue for the fiscal under review was expected to grow 13-17 percent in rupee terms as per the Indian accounting standard and 6-10 percent in dollar terms under the International Financial Reporting Standard (IFRS).

The IT bellwether has, however, discontinued the practice of giving revenue outlook for the three-month quarterly period since a year.

The company posted consolidated revenue of $7.4 billion in dollar terms, an increase of 5.8 percent YoY and Rs.40,352 crore (Rs.404 billion) in rupee terms for last fiscal (2012-13), up 19.6 percent YoY.