'Infosys will be billion company by next year'

Mumbai, Apr 13: Information Technology (IT) major, Infosys Technologies Ltd today declared that its revenues were expected to grow by 22.6-24.6 per cent in the current financial year (2007-08) and reach a whopping USD four billion.

In its guidance, the NASDAQ-listed software major predicted that its revenues were expected to be in the range of Rs 17,038- 17,308 crore, a year-on-year growth of 22.6-24.6 per cent.

Infosys gave a strong guidance in dollar terms as per US GAAP. It expects the consolidated earnings per American Depositary Share, (excluding tax reversal of USD 29 million in fiscal 2007), between USD 1.86 and USD 1.89 for financial year 2008, an year-on-year growth of 25.7-27.7 per cent. Infosys expects consolidated revenue between USD 3.95 billion and USD 4.02 billion, a year-on-year growth of 28-30 per cent.

For Q1 June 2007, Infosys expects the consolidated earnings per American Depositary Share at USD 0.41, a year-on-year growth of 28.2 per cent. It expects revenue between USD 904 million and USD 908 million, a year-on-year growth of 37-37.6 per cent.

''Our revenues are expected to grow to USD four billion next fiscal (2007-08),'' Chief Operating Officer and Joint Managing Director S Gopalakrishnan said in a release here today.

''Our continuous investments in brand, infrastructure, technology, people, intellectual capital and service offerings have positioned us well to take full advantage of the continued globalisation of services,'' he said.

Besides, the company has reported a 69.27 per cent rise in its net profit at Rs 1,124 crore for the quarter ended March 31, 2007, as compared to Rs 664 crore over the same period last fiscal.

It has posted 43.38 per cent growth in its total income at Rs 3,675 crore for Q4FY07, as against Rs 2,563 crore during the corresponding period last year, the release added.

UNI