Infosys ups revenue guidance on strong dollar

Buoyed by better than expected results and riding on a strong dollar, global software major Infosys Ltd. on Thursday marginally revised its annual guidance for the fiscal 2015-16 in constant currency and on the latest exchange rate.

In a regulatory filing with the Bombay Stock Exchange (BSE), the city-based IT bellwether said its consolidated revenue in rupee terms would be 12.8-13.2 percent in constant currency and 16.2-16.6 percent on December 31 exchange rate when the US dollar was Rs.66.16.

Under the International Financial Reporting Standard (IFRS), the outsourcing major increased the annual guidance to 12.8-13.2 percent in constant currency and 8.9-9.3 percent on the exchange rates in dollar terms for fiscal 2016.

This is the second time in this fiscal (FY 2016), the company revised guidance owing to volatile currency impacting the rupee in the foreign exchange market.

On October 10, the company upped its guidance to 13.1-15.1 percent from 11.5-13.5 percent in rupee terms but lowered to 6.4-8.4 percent from 7.2-9.2 percent in dollar terms as projected in July due to currency volatility depreciating the rupee.

The company also increased the conversion rate again by 0.57 cents to Rs.66.16 per dollar from Rs.65.59 on September 30 on a stronger greenback.