Infosys Infosys ra|ses ra|ses |ts |ts forecasts forecasts as as prof|t prof|t c||mbs c||mbs 99 77

O BANGLORE , India-infosys Lid. Posied a .% iise in piofii foi iis fiscal

second quaiiei and iaised iis eainings foiecasi foi ile yeai,climing
woiiies aboui ile company's piospecis in ile unsiable global economy.
O Tle second-laigesi Indian sofiwaie expoiiei loweied iis ievenue ouilool
foi ile fiscal yeai by one peiceniage poini,lowevei,mainly because of
unfavouiable cuiiency movemenis.
O Slow giowil in ile U.S. and Euiope, wlicl accouni foi moie ilan o%
of ievenue foi India's infoimaiion-ieclnology companies,las iaised
conceins aboui ile secioi,s peifoimances. Tle iesulis of Infosys, an
indusiiy bellweilei,gave a boosi io ieclnology siocls. Infosys gained
.% on ile Bombay siocl exclange, wlile ile IT index iose .%.
O Infosys clief execuiive S.D. slibulal said Wednesday ilai le iemains
cauiions aboui ile global economy bui ilai clienis laven'i cancled
piojecis oi cui ieclnology budgeis. Tle company mainiained iis eailiei
foicasis of i% volume giowil and a :% impiovemeni in billing iaies foi
ile yeai.
O Tle company's lope ful foiecasi folled iliee quaiieis of disappoiniing
iesulis and ieflecied a iesiiuciuiing ilai biougli in a new claiiman.
O Nei piofii iose io i.o billion iupees (so million) foi ile quaiiei
iliougl Sepiembei fiom i. billion iupees a yeai eailiei. Resulis weie
aided by an aveiage :.% decline in ile Indian iupee's value againsi ile
dollai.
O Revenue iose i% io o. billion iupees.
O Tle iupee's decline led Infosys io iaise iis eainings ouilool foi ile yeai
iliougl maicl io beiween i.o: iupees and i.: iupees a slaie. Tle
company eailiei lad foiecasi i:.:o iupees io io.o iupees a slaie
O Infosys now foiecasis ievenue in dollais io iise i%-i% foi ile yeai io
beiween s.o billion and s.: billion, luii somewlai by ile U.S.
cuiiency's siiengil and iis effeci on ile conveision of ievenue eained
in euios and pounds.
O Bioleiage CLSA said ile new ievenue foiecasi lools "pieiiy aggiessive,"
given Infosys's peifoimance in ile lasi iliee quaiieis and ile cuiieni
economics siiuaiion.
O Nei piofii iose ii% and ievenue climbed .:% fiom ile fiisi
quaiiei,suppoiied by a .% inciease in volume.
IN1kCDUC1ICN IN1kCDUC1ICN
INICSS was eastab||shed |n 1981 Infosys |s a
NASDA ||sted g|oba| counsu|t|ng and I1 serv|ces
company w|th more than 141000 emp|oyees
Irom a cap|ta| of US5 2S0 we have growth to
become a US5 6604 b||||on 1he [ourney of over
29 yearsthe company have cata|yzed some of the
ma[or changes that have |ed to Ind|a's emergence
as the g|oba| dest|nat|on for software serv|ces
ta|ent Company p|oneered the g|oba| de||very
mode| and become the f|rst I1 company from
Ind|a to be ||sted on NASDA 1he emp|oyee
stock opt|ons program created some of Ind|a's
f|rst sa|ar|ed m||||ona|res Company w|th a
market cap|ta||zat|on of approx|mate|y US5 30
d||||o
Infosys ra|ses |ts forecasts as prof|t c||mbs Infosys ra|ses |ts forecasts as prof|t c||mbs
97 97
8ANGLCkL Ind|a |nfosys Ltd osted a 97
r|se |n prof|t for |ts f|sca| second quarter and
ra|sed |ts earn|ngs forecast for the year
c||m|ng worr|es about the company's
prospects |n the unstab|e g|oba| economy
1he second|argest Ind|an software exporter
|owered |owered |ts revenue out|ook for the
f|sca| year by one percentage
po|nthoweverma|n|y because of
unfavourab|e currency movements S|ow
growth |n the US and Lurope wh|ch account
for more than 80 of revenue for Ind|a's
|nformat|ontechno|ogy compan|eshas ra|sed
concerns about the sectors performances
1he resu|ts of Infosys an |ndustry
be||wethergave a boost to techno|ogy stocks
Infosys ga|ned 68 on the 8ombay stock
exchange wh||e the I1 |ndex rose 49
Infosys ch|ef execut|ve SD sh|bu|a| sa|d
Wednesday that he rema|ns caut|ons about the
g|oba| economy but that c||ents haven't canc|ed
pro[ects or cut techno|ogy budgets 1he company
ma|nta|ned |ts ear||er forcasts of 18 vo|ume
growth and a 2 |mprovement |n b||||ng rates for
the year 1he company's hope fu| forecast fo||ed
three quarters of d|sappo|nt|ng resu|ts and
ref|ected a restructur|ng that brought |n a new
cha|rman Net prof|t rose to 1906 b||||on rupees
(5390 m||||on) for the quarter through September
from 1737 b||||on rupees a year ear||er kesu|ts
were a|ded by an average 2S dec||ne |n the
Ind|an rupee's va|ue aga|nst the do||ar
kevenue rose 17 to 8099 b||||on
rupees
1he rupee's dec||ne |ed Infosys to ra|se |ts
earn|ngs out|ook for the year through march
to between 14302 rupees and 14S26 rupees
a share 1he company ear||er had forecast
12820 rupees to 13008 rupees a share
Infosys now forecasts revenue |n do||ars to
r|se 1719 for the year to between 5708
b||||on and 572 b||||on hurt somewhat by the
US currency's strength and |ts effect on the
convers|on of revenue earned |n euros and
pounds noweverthe second |argest Ind|an
software exporter |owered |ts revenue
out|ook |n the do||ar terms for th|s f|sca| year
by a percentage po|nt|n ||ne w|th ana|ysts'
expectat|ons