Infosys says FY08 margins can be maintained

Infosys says FY08 margins can be maintained
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First Published: Wed, Jul 11 2007. 11 48 AM IST
Updated: Wed, Jul 11 2007. 11 48 AM IST
Bangalore: Infosys Technologies Ltd expects to maintain net margins for the fiscal year ending 31 March 2008 despite a stronger rupee, its chief financial officer said on Wednesday.
Infosys, India’s second-largest software services exporter, is seeing continued buoyancy in business and higher average billing rates, V. Balakrishnan told Reuters.
“We are not seeing any concerns on the ground. Volume growth continues to be strong,” he said.
“We will be able to maintain the net margins for FY08 in spite of the rupee moving against us,” he said.
“The rupee is one of the factors we have to manage.”
The currency climbed 6.8 percent in the April-June quarter. Every 1% rise in the value of the rupee against the dollar shaves 30-50 basis points from operating margins of software firms.
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First Published: Wed, Jul 11 2007. 11 48 AM IST