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  Business   Companies  13 Jan 2017  Infosys stock fall after revised revenue guidance

Infosys stock fall after revised revenue guidance

PTI
Published : Jan 13, 2017, 12:28 pm IST
Updated : Jan 13, 2017, 12:41 pm IST

Shares of the company fell by nearly 4 per cent as the trade progressed on BSE.

Country's second-largest software firm Infosys today reported a 7 per cent growth in its consolidated net profit at Rs 3,708 crore for the October-December quarter of the current fiscal.
 Country's second-largest software firm Infosys today reported a 7 per cent growth in its consolidated net profit at Rs 3,708 crore for the October-December quarter of the current fiscal.

New Delhi: Shares of Infosys today fell by nearly 4 per cent after the company revised its annual revenue guidance to 8.4-8.8 per cent. However, the company reported a 7 per cent growth in its consolidated net profit for the October-December quarter of the current fiscal.

Despite a positive opening, shares of the company failed to hold on the gains and went down by 3.6 per cent to Rs 964 as the trade progressed on BSE. At NSE, shares of the company slipped 3.73 per cent to Rs 962.70.

Country's second-largest software firm Infosys today reported a 7 per cent growth in its consolidated net profit at Rs 3,708 crore for the October-December quarter of the current fiscal.

The IT major revised its current fiscal constant currency revenue guidance to 8.4-8.8 per cent against 8-9 per cent estimated earlier. The Bengaluru-headquartered firm's net profit stood at Rs 3,465 crore in the corresponding three months a year ago.

Its consolidated revenues in the third quarter rose 8.6 per cent to Rs 17,273 crore from Rs 15,902 crore in the year-ago period, the company said. In dollar terms, Infosys posted a 4.4 per cent jump in net profit to USD 547 million, while revenue was up 6 per cent to USD 2.5 billion in the third quarter.

Tags: infosys, bse
Location: India, Delhi, New Delhi