Infosys lowers dollar revenue guidance for 2016-17

Bengaluru: Infosys Ltd on Friday said its revenues in dollar terms in fiscal 2016-17 are expected to grow 10 to 11.5 per cent rather than 11.8 to 13.8 per cent that it projected in April, on account of currency volatility. Consolidated revenue for 2016-17 would grow 10 to 11.5 per cent in dollar terms on June 30 exchange rate of Rs 67.53 per dollar, 10.8 to 12.3 per cent on March 31 exchange rate of Rs 66.26 per dollar, and 10.5 to 12 per cent in constant currency, the IT company said in a regulatory filing to the BSE.  Infosys had said in April that its annual revenue would grow 11.8 to 13.8 per cent in dollar terms and 11.5 to 13.5 per cent in constant currency of Rs 66.26 per dollar as on March 31. In rupee terms, however, the annual outlook has been revised marginally upwards to 13.7 to 15.21 per cent on June 30 exchange rate (Rs 67.53) per dollar from 12.7 to 14.7 per cent given in April and 11.7 to 13.2 per cent of March 31 exchange rate (Rs 66.26). About 97 per cent of Infosys's revenues is billed in dollar and euro currencies as export earnings.