HOME   
   NEWS   
   BUSINESS   
   CRICKET   
   SPORTS   
   MOVIES   
   NET GUIDE   
   SHOPPING   
   BLOGS  
   ASTROLOGY  
   MATCHMAKER  


Search:



The Web

Rediff








Business
Portfolio Tracker
Business News
Specials
Columns
Market Report
Mutual Funds
Interviews
Tutorials
Message Board
Stock Talk



Home > Business > Business Headline > Report

Infosys sees modest growth in 2003-04

Fakir Chand in Bangalore | April 10, 2003 21:04 IST

Infosys Technologies Ltd, the Bangalore-based IT bellwether is at it again! As in the past, the global software services' major is contended to project a modest revenue growth of 25-27 per cent during the new fiscal year (2003-04) in spite of outperforming its own revised guidance in the just concluded fiscal year (2002-03).

As against a robust growth of Rs 3,625 crore (Rs 36.25 billion) at the end of fiscal 2002-03, the company's outlook for the fiscal 2003-04 projects a revenue of Rs 4,479 crore (Rs 44.79 billion), and a consolidated figure of Rs 4,565 crore (Rs 45.65 billion), including the revenue of its BPO subsidiary Progeon Ltd.

Only a year ago around this time, amid global slowdown, tech meltdown and glorious uncertainties, Infosys projected that it would be able to grow only by 15-17 per cent during 2002-03 over the previous fiscal year (2001-02), when it clocked a revenue of Rs 2,604 crore (Rs 26.04 billion).

The company was, however, forced to revise upwards its guidance for the year during the last two quarters, projecting a figure of Rs 3,578 crore (Rs 35.78 billion). The final figures exceeded that of the revised guidance by Rs 47 crore (Rs 470 million).

In dollar terms under US GAAP, the company touched the $750-million mark against $546 million posted in fiscal 2001-02, and crossed the projected figure of $635 million for the fiscal year 2002-03.

The outlook for the fiscal year 2003-04, at a conservative estimate is set to touch $945 million. Going by its present performance the listed company is seen to cross the $1-billion mark by the end of the current fiscal, out-performing its own set projections.

Though Infosys' CEO Nandan Nilekani declined to comment on whether the company was poised to touch the $1-billion mark, he admitted that the earnings per share may not grow by as much as the revenue.



Article Tools

Email this Article

Printer-Friendly Format

Letter to the Editor



Related Stories


Infosys takes a hit

Short selling hits Infosys

War, SARS impact Infosys operations



People Who Read This Also Read


Infosys takes a hit

Infosys Q4 profit at Rs 2.59 bn

Infosys to hire 1,000 people in Q1







HOME   
   NEWS   
   BUSINESS   
   CRICKET   
   SPORTS   
   MOVIES   
   NET GUIDE   
   SHOPPING   
   BLOGS  
   ASTROLOGY  
   MATCHMAKER  
© 2003 rediff.com India Limited. All Rights Reserved.