Bangalore, April 13 (Inditop.com) Infosys Technologies Ltd Tuesday projected a double digit growth for new fiscal (2010-11) on signs of global economic recovery and robust growth in IT spending.
In a regulatory filing, the IT bellwether said it expected its consolidated income to grow by 10 percent on average to Rs.25,017 crore (Rs.250 billion) by this fiscal end (FY 2011) from Rs.22,742 crore (Rs.227 billion) in FY 2010, as per the Indian accounting standard.
Under the International Financial Regulatory System (IFRS), consolidated revenue is projected to grow by 17 percent average to $5.6 billion (Rs.248.30 billion) in FY 2011 from $4.8 billion in fiscal 2010.
The company’s guidance is based on the conversion rate of Rs.44.50 per one US dollar as on March 31, 2010.
Similarly, for the first quarter (April-June) of this fiscal, consolidated income is expected to be Rs.5,941 crore (Rs.59.41 billion), a projected growth of 8.6 percent year-on-year (YoY) over same quarter of last fiscal, as per the Indian accounting standard.
Under IFRS, revenue guidance for the first quarter (Q1) is $1.34 billion, an average growth of 19 percent over the same period year ago.
