In the wake of the growing global financial crisis, Indian IT giant Infosys Technologies Limited on Friday announced a revision in its revenue outlook for the current fiscal in dollar terms — lowering growth projection by six per cent.

The company’s stock ended down 2.32 per cent to close at Rs 1,225.20 on the National Stock Exchange. Infosys in July this year, at the end of the first quarter, had projected a revenue growth of 19 to 21 per cent. This has been revised to 13.1 per cent to 15.2 per cent, company officials said at the announcement of results for the second quarter.

“We have revised our dollar revenue guidance to reflect the current economic situation and the drastic depreciation of major global currencies against the dollar,” Infosys CEO and managing director Kris Gopalakrishnan said.

Nearly 3 per cent of the lowered projection is attributed to the currency impact while another 3 per cent is a result of external environment, CFO V Balakrishnan said.

However, the business environment, despite being challenging, is far from gloomy and offers companies like Infosys interesting opportunities even in the hammered banking and financial services sector, Infosys officials said.

The company outlined post merger integration work, cost arbitrage and consulting work in the financial sector among key opportunities despite the slump.

During the quarter ended September 30, Infosys posted revenues of Rs 5,418 crore and a net profit of Rs 1,432 crore — recording year-on-year growth of 32 per cent and 30 per cent respectively.

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