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Stock Report
Infosys Technologies increases Guidance on Dollar terms, revises Rupee Guidance downwards
Posted On : 2007-07-10 23:50:35( TIMEZONE : IST )
Infosys Technologies Ltd has announced the following Business Outlook. The company’s outlook (consolidated) for the quarter ending September 30, 2007 and the fiscal year ending March 31, 2008, under Indian GAAP and US GAAP, is as follows:
The Outlook under Indian GAAP - consolidated for Quarter ending September 30, 2007**. The Income is expected to be in the range of Rs 39,520 million and Rs 39,930 million; YoY growth of 14.5% - 15.7%. The Earnings per share is expected to be Rs 18.88; YoY growth of 12.7%.
For Fiscal year ending March 31, 2008**, the Income is expected to be in the range of Rs 162,380 million and Rs 164,330 million; YoY growth of 16.9% - 18.3%.
The Earnings per share*** are expected to be between Rs 78.20 and Rs 79.00; YoY growth of 13.0% - 14.1%.
** Conversion 1 US$ = Rs 40.58
*** Including tax reversal of Rs 510 million and Rs 1240 million in fiscal 2008 and 2007 respectively. Excluding the tax reversal the Earnings per share are expected to be between Rs 77.31 and Rs 78.11; YoY growth of 15.6% to 16.8%.
The company has projected robust Outlook under US GAAP for Quarter ending September 30, 2007. The Consolidated revenues are expected to be in the range of $ 974 million and $ 984 million; YoY growth of 30.6% - 31.9%. The Consolidated earnings per American Depositary Share are expected to be $ 0.46; YoY growth of 27.8%.
The outlook for Fiscal year ending March 31, 2008. Consolidated revenues are expected to be in the range of $ 4.00 billion and $ 4.05 billion; YoY growth of 29% - 31%. The Consolidated earnings per American Depositary Share*** are expected to be between $ 1.92 and $ 1.94; YoY growth of 25.5% - 26.8%.
*** Including tax reversal of US$ 13 mn and US$ 29 mn in fiscal 2008 and 2007 respectively. Excluding the tax reversals the consolidated Earnings per American Depositary Shares are expected to be between $ 1.90 to $ 1.92; YoY growth of 28.4% to 29.7%.
"As clients recognize the strategic imperative of global sourcing in an increasingly flat business world, the demand for large end-to-end players like Infosys continues to be strong," said S. Gopalakrishnan, CEO and Managing Director. "We continue to focus on being a partner of choice to our customers."
