Projecting a weak outlook for IT industry, c
ountry's second largest software firm Infosys Technologies Ltd on Thursday lowered its revenue guidance for this fiscal (2012-13) in dollar earnings as its year-on-year (YoY) growth is projected to be less than it was expected in April.
The IT bellwether
reported a 32.92 per cent jump in consolidated net profit to Rs 2,289 crore for the
first quarter ended June 30, 2012.
Infosys said revenue for FY 2013 would grow 5 per cent YoY to $7.34 billion as against $7.6 billion projected at the beginning of this fiscal, with 9 per cent YoY growth as per the International Financial Reporting Standards. This is much lower than Nasscom's growth estimate of 11-14 per cent for the industry in FY 2013.
In rupee terms, however, revenue for fiscal (FY 2013) under review is expected to be Rs 40,364 crore with 20 per cent YoY growth, which is higher than Rs 38,784 crore projected in April with 15 per cent YoY growth.
Though the company exceeded its revenues forecast in rupee terms, it failed to meet dollar revenue guidance of $1,771 million to $1,789 million for the quarter.
It had expected its rupee revenues to be in the range of Rs 9,011 crore and Rs 9,100 crore for April-June 2012.
In Q1, rupee revenues of software companies are expected to rise marginally on the back of depreciating rupee.
Infosys did not give a revenue guidance for July- September quarter, but revised its annual forecast for FY13 to be atleast Rs 40,364 crore (year-on-year growth of 19.7 per cent) against previous guidance of Rs 38,431 crore-Rs 39,136 crore.
With agency inputs
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