Infosys Ltd projected a higher growth of 12.8 percent (average) in dollar terms for 2016-17
IANS
Buoyed by resilient revenue growth of over nine percent in fiscal 2015-16, software major Infosys Ltd on Friday projected a higher growth of 12.8 percent (average) in dollar terms for 2016-17, as 97 percent of its earnings is from exports.
“Our consolidated annual revenue outlook for 2016-17 is 11.8-13.8 percent (12.8 percent average) growth in dollar terms on the exchange rate (Rs.66.26 per dollar) of March 2016 and 11.5-13.5 percent in constant currency,” the IT bellwether said in a statement here.
In rupee terms, revenue growth for this fiscal (FY 2017) is, however, projected to be lower at 12.7-14.7 percent on March exchange rate of Rs.66.26 per dollar, as against 17 percent growth achieved in FY 2016.
“Our growth trajectory improved in FY 2016 and we navigated the external business environment well. We will focus on leveraging operational efficiency levers for profitable growth,” said Infosys’ Chief Financial Officer M.D. Ranganath in the statement.
Earlier, the outsourcing firm reported Rs.3,597 crore consolidated net profit for fourth quarter (January-March) of fiscal under review (FY 2016), registering 16.2 percent year-on-year (YoY) growth and 3.8 percent quarterly in rupee terms.
In a regulatory filing to the stock exchange BSE, the IT bellwether said its consolidated revenue grew 23.4 percent YoY and 4.1 percent quarterly to Rs.16,550 crore in the quarter (Q4) under review.