Bangalore, July 10 (Inditop.com) Technology meltdown and currency volatility have forced Infosys Technologies Ltd to lower its guidance for the second quarter (July-September) and the entire fiscal (2009-10), projecting a marginal decline in revenues.
In its regulatory filing Friday, the IT bellwether said consolidated income in the second quarter (Q2) is expected to be Rs.53.18-54.13 billion (Rs.5,318-5,413 crore), which is a decline of 1.9-0.1 percent year-on-year (YoY), as per the Indian accounting standard.
For the entire fiscal (FY 2009-10), consolidated income is projected to be Rs.214.16-217.47 billion (Rs.21,416-21,747 crore), which is a 1.3 percent decline YoY to marginal growth of 0.3 percent YoY, as per the Indian accounting standard.
According to the International Financial Reporting System (IFRS), the revenue guidance for this quarter (Q2) shows a decline of 8.7-7.1 percent YoY in the range of $1.11-1.13 billion.
Similarly, for the entire fiscal, the consolidated income is expected to be in the range of $4.45-4.52 billion, which is a decline of 4.6-3.1 percent, as per the IFRS.
