Infosys shares slip nearly 3% post Q4 earnings
Shares of IT services firm Infosys today fell nearly 3% after it reported lower-than -expected earnings for the quarter ended March 2017.
Even after a positive opening, shares of the company lost the momentum and fell 2.82% to Rs 941.40 on BSE.
At NSE, shares of the company lost 2.87% to Rs 941. The country’s second-largest IT services firm Infosys today reported a marginal growth in consolidated net profit at Rs 3,603 crore for the quarter ended March 2017.
Net profit came in 0.2% higher than Rs 3,597 crore in the same period previous year, according to a BSE filing by Infosys.
Revenue of the Bengaluru-based company grew 3.4% to Rs 17,120 crore in the March quarter compared to Rs 16,550 crore in the same period of 2015-16, it added.
The company expects its 2017-18 revenue to grow between 6.1% and 8.1% in dollar terms and 6.5-8.5% in constant currency terms.
On a sequential basis, Infosys’ net profit fell 2.8%, while revenue declined 0.9%.
