Infosys revenue set to cross $4-billion


Bangalore : Infosys Technologies Ltd is set to earn $4.18 billion at the end of fiscal 2007-08, projecting a 35 percent growth using the Us system of accounting, the company said here Friday.

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Under the Indian system of accounting, revenue growth is expected to be 20 percent at Rs.167 billion due to the rupee appreciating by Rs.1.17 (2.5 percent) to Rs.39.41 from Rs.40.58 per dollar during the first nine months (April-Dec) of the current fiscal.

The firm’s income has already crossed the $3.03-billion mark in the first three quarters (April-Dec) of this fiscal, registering a growth of 36 and 20 percent under the US and Indian accounting systems, respectively.

Continuing its robust growth despite a rising rupee, the company posted net profit of $844 million for the first three quarters, registering a record 43 percent growth under US system and Rs.34 billion under Indian system, registering a growth of 26 percent, the company said in a statement.

For the third quarter (Oct-Dec), net income rose by 42 percent to $310 million from $218 million under the US system and by 25 percent to Rs.12.3 billion from Rs.9.8 billion in the same period under the Indian system of accounting.

“We see several opportunities for growth in the marketplace and have concluded several multi-year, multimillion deals during the third quarter,” Infosys CEO and managing director S. Gopalakrishnan said in the statement.

“We believe our ability to handle large, complex programmes using the global delivery model provides a compelling value proposition to global customers seeking efficiency in a challenging macro-environment.”

For its investors, the company has projected handsome earnings per share (EPS) of Rs.81 for the current fiscal, projecting a growth of 17 percent under Indian system and $2 for its American Depositary Share (ADS), a growth of 32 percent under the US system of accounting.

The company and its subsidiaries added 47 new clients during the third quarter as against 48 in the previous quarter and 43 in the same quarter of last fiscal.

“Total number of active clients by the end of third quarter is 530 as against 520 by the end of second quarter and 488 a year ago,” chief operating officer S.D. Shibulal said.