IT bellwether Infosys Technologies today said it expects revenues for the fourth quarter ending March 31, 2011, to be in the range of Rs 7,157-Rs 7,230 crore.
Besides, for the fiscal year ended March 31, 2011, the company anticipates the revenues to be between Rs 27,408-Rs 27,481 crore, a year-on-year growth of 8.9 per cent to 9.1 per cent, Infosys said in a filing to the Bombay Stock Exchange.
"The company has given a conservative outlook on the revenue guidance for the Q4 and for the full year," CNI Research CMD Kishore P Ostwal told PTI.
The figure is an improvement from the earlier guidance of Rs 26,951 crore- Rs 27,165 crore in FY'2010 revenue, given by Infosys at the time of announcing its second quarter (Q2) results.
However, the country's second largest software vendor is still cautious in its forecast due to uncertain economic conditions in the US and European Union.
"The weaker economic recovery in developed markets coupled with high unemployment and risk of sovereign default (in the European Union) could impact the industry growth. We are closely working with our clients, as they finetune their strategies for the future," Infosys CEO and MD S Gopalakrishnan said.
The company, which announced its third quarter results today, reported a net profit growth of 14.17 per cent at Rs 1,780 crore for the quarter ended December 31, 2010, which was less than the market expectations.
The consolidated revenue of the IT firm rose to Rs 7,106 crore against Rs 5,741 crore over the year-ago period.
Shares of Infosys Technologies were trading at Rs 3,251.05 on BSE, down 3.67 per cent from the previous close.
