Infosys bullish on revenue growth in FY11
16 Dec 2009
Infosys Technologies expects revenue growth to improve in the fiscal year starting in April as a recovery in the global economy leads to larger investments by its clients, according a senior official of the firm.
The second-largest Indian IT services exporter has forecast a decline of 1.0 to 1.3 per cent to $4.60-$4.62 billion in the current fiscal year to March, which will be its first year of negative growth.
According to Shubash Dhar, senior vice-president and head of global sales and marketing the company believes that there would be better growth next year than it has seen in this year though it did not know how much. Dhar was speak to Bloomberg.
India's IT firms which were once-booming have suffered heavily in the downturn with growth falling sharply on a collapse in outsourcing demand from foreign clients.
Dhar said the Nasdaq-listed Infosys, which develops applications, designs supply chains and manages call centres, was seeing a substantial rise in demand for services from its financial, energy, health care and retail clients.
However, the telecoms sector which accounts for the bulk of the company's revenues remains sluggish on technology investment its clients which has been a drag on its revenue in the recent quarters.
