Infosys lowers revenue outlook in rupee, dollar value

Infosys lowers revenue outlook in rupee, dollar value

Bengaluru, Oct 14 (IANS) Global software major on Friday lowered its annual revenue guidance for fiscal 2016-17 in dollar and rupee value due to volatility in currencies and uncertain business outlook in the near term.

In a regulatory filing to the stock exchanges, the IT major said consolidated revenue for this fiscal (FY 2017) would grow eight to nine per cent in constant currency in dollar value.

“The guidance of 8-9 per cent in constant currency translates into 7.5-8.5 per cent growth on September 30 dollar value of Rs 66.62 and 10.9-11.9 per cent growth in rupee value,” said the filing.

For fiscal 2015-16, consolidated revenue 9.1 per cent to $9.5 billion in dollar terms and 17.1 per cent to Rs 62,441 crore in rupee terms.

The lower guidance despite robust growth in second quarter (July-September) impacted the blue chip’s scrip of Rs five face value on the bourses, leading to loss of Rs 19.05 on the BSE to Rs 1,033 per share in the pre-noon trading from Thursday’s closing price of Rs 1052.05 despite opening at a higher rate of Rs 1,060.

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