Infosys cautious on recovery; flags currency risk
Infosys Technologies, India's No.2 software services exporter, forecast stronger-than-expected annual revenue growth of 16-18 per cent, noting that a pick-up in global technology spending was improving demand for outsourcing.
However, a firming rupee on the back of rising foreign investment in India's fast growing economy may keep earnings growth muted for outsourcers, and Infosys expects its profit margins to take a hit this year. This pressure is not likely to go away as the rupee is still appreciating.
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