Infosys revenue would be 3.1-6.7 percent less than last fiscal in dollar terms
Infosys chairman and chief mentor NR Narayana Murthy Saturday admitted that with many of its clients reducing their IT budgets, the bellwether's growth would be impacted this fiscal. "A recent survey of our top 135 clients indicated that a majority of them would downsize their IT budgets. This will impact our revenue growth during the current year," Murthy told shareholders at the company's 28th annual general meeting (AGM) here.
Reiterating the guidance the company gave in April for the current fiscal, he said as a result of lower IT budgets, the revenue would be 3.1-6.7 percent less than last fiscal (2008-09) in dollar terms. "At this point of time, we live by the guidance of $4.35-4.52 billion we have given for this fiscal. We are also in the blackout period. We are not supposed to talk about the current fiscal now," Murthy said on the margins of the AGM later. Giving an overview of the global software major's performance in fiscal 2009 at the AGM, Murthy said the entire world was going through a severe financial crisis that had led to a global recession.
Source: The Economic Times
0 comments:
Post a Comment