BANGALORE, July 12: Gaining from rupee depreciation, IT giant
Infosys Ltd today said upped its guidance for 2013-14 to 13-17 per cent on rupee terms, while the net profit remained almost flat
at Rs 2,374 crore, a mere 0.8 per cent growth sequentially, for the first quarter ending June 30.
However, revenues grew to Rs 11,267 crore for the first quarter, a higher than the market expected 7.8 per cent growth quarter-on-quarter.
The company also kept its dollar revenue guidance unchanged for the current fiscal in the range of 6-10 per cent.
Analysts had expected a slightly higher net profit at Rs 2,315 crore, while they expected the revenue to be at Rs 11,029 crore for the quarter.
The second biggest software services exporter said the FY14 rupee revenue was likely to grow at 13-17 percent and kept the guidance on dollar terms unchanged at 6-10 percent.
Infosys CEO S D Shibulal said the company was cautiously optimistic about rest of the year. He said the company had done reasonably well with the volume growing by four per cent.
However, CFO Rajiv Bansal said July wage hike was likely to affect margins in future quarters.
(UNI)
Follow our WhatsApp channel
