Infosys expects revenue of Rs 20,214 cr in 2008-09

NEW DELHI: Country's second largest IT exporter Infosys Technologies on Tuesday said it expects its revenues to grow by 21 per cent, touching Rs 20,214 crore in 2008-09.

"Income is expected to be in the range of Rs 19,894 crore and Rs 20,214 crore with an YoY growth of 19.2-21.1 per cent," the IT major, which announced its fourth quarter results, said in a statement.

The Indian IT sector, which has been battling a rising rupee and slowdown in the US market, was looking at Infosys Q4 results as guidance for the current financial year.

With the IT stocks going through a bearish trend, clues from Infosys results were eagerly awaited by analysts and the stock market alike.

Infosys, which has added 40 new clients during the quarter, is optimistic of the forthcoming quarters.

"While there could be short-term challenges due to global economic uncertainties, we as a company see significant growth opportunities in the medium to long-term," Infosys CEO and Managing Director S Gopalakrishnan said.

The company has posted a consolidated net profit of Rs 4,659 crore for the year ended March 31, a 20.82 per cent growth over the corresponding period a year ago.

According to the company release, the consolidated total income rose to Rs 16,692 crore for the year ended March 31, 2008, registering a growth of 20.1 per cent.