Infosys has announced that currency moves will affect its December quarter revenue.

"Definitely currency movement will have an impact, but it is difficult to say what exactly it is," CEO Senapathy Gopalakrishnan told reporters.

In October, Infosys slashed its forecast for full-year dollar revenue growth due to the global economic recession. Nevertheless, the company, which exceeded expecations by reporting a 30 per cent increase in quarterly profit, remains committed to hiring 25,000 employees during the current fiscal year to March 2009.

As IT Examiner previously reported, CLSA recently announced that Infosys was likely to miss its upper end Q3 dollar revenue. According to the brokerage house, Infosys could also post a sequential fall in dollar terms. Nevertheless, the company was ranked the "sole outperformer" among Indian tech shares.

CLSA also noted that the BFSI (banking, financial services and insurance) segment has "worsened substantially," as long-term deals are being offered on "very tough terms".

Gopalakrishnan had earlier predicted that a decrease in orders from financial clients was likely to spread to retail and manufacturing customers.

"The most difficult part is we don't know when stability will come," said Gopalakrishnan. X

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