Infosys ups guidance for fiscal 2011 on strong growth

Bangalore, Oct 15 (IANS) Infosys Technologies Ltd revised its guidance upwards for the fiscal 2010-2011 on strong growth during the second quarter (July-Sept).

In a regulatory filing Friday, the IT bellwether said its consolidated revenue for fiscal 2011 would be around Rs.270.58 billion (Rs.27,058 crore), an increase of 19 percent year-on-year (YoY) and 1.7 percent higher than it projected in July, as per the Indian accounting standard.

Under the International Financial Regulatory System (IFRS), revenue is expected to be $6 billion, an increase of 25 percent YoY and five percent higher than its July projection.

Guidance for the third quarter (Oct-Dec) of this fiscal is projected to be Rs.69.19 billion (Rs.6,919 billion), a YoY growth of about 21 percent, as per the Indian accounting standard

Under the IFRS, gross income for Q3 is likely to be $1.6 billion, an increase of 26 percent YoY.

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