News: Infosys targets $4 b revenue in FY 2008

(IANS 13/04/2007) Bangalore - Riding on the outsourcing boom, IT bellwether Infosys Technologies Ltd has set a revenue target of $4.02 billion for the current fiscal (2007-08), projecting a year-on-year (YoY) growth of 30 per cent under the US GAAP. In a notification to the stock exchanges here Friday, the company said topline revenue growth was estimated to be about Rs. 17308 crore ($4 billion) for FY 2008, indicating YoY growth of 25 per cent under the Indian GAAP (generally accepted accounting principles). For the first quarter (April-June) of this fiscal, consolidated revenue is expected to be about $908 million, a YoY growth of 38 percent under the US GAAP and Rs.3913 crore, YoY growth of 30 percent under the Indian GAAP. Similarly, the earnings per share (EPS) for the entire fiscal (FY 2008) is expected to be Rs. 81.58, YoY growth of 22 per cent under the Indian GAAP. Earnings per its American Depositary Share (ADS) is estimated to be $1.89, YoY growth of 28 per cent.