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Infosys revises upwards revenue forecast for 2013-14

Reflecting the recent weakening of the rupee's value against the US dollar, Infosys has revised upwards to 13-17 per cent its revenue guidance in rupee terms for 2013-14.

IANS   Bangalore     Last Updated: July 12, 2013  | 12:13 IST

Reflecting the recent weakening of the rupee's value against the US dollar, Infosys has revised upwards to 13-17 per cent its revenue guidance in rupee terms for 2013-14.

The IT major on Friday reported a 3.7 per cent increase in consolidated net profit to Rs 2,374 crore, meeting Street expectations. Cheering the news, shares of the company were trading over 10 per cent higher in morning trade on the Bombay Stock Exchange.

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

India's third-largest software services exporter 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 per cent against the corresponding period last year and Rs 40,352 crore in rupee terms for the 2012-13 financial year - up 19.6 per cent year-on-year.

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