Infosys sees margins stable in March quarter, stock drops 7%
Quotes

Infosys sees margins stable in March quarter, stock drops 7%

Last Updated: Thursday, January 12, 2012, 10:32
 
 Comment 0
 
Infosys sees margins stable in March quarter, stock drops 7%
Mumbai: Infosys Ltd, the No.2 Indian software services exporter, expects margins to remain stable in the current quarter, and client technology budgets to be flat or slightly down in 2012, Chief Financial Officer V. Balakrishnan said on television.

Earlier on Thursday, Infosys cut its full-year revenue outlook because of the debt crisis in Europe, sending its shares down by as much as 7.7 percent to their lowest in more than a month.

Infosys, India's second-largest software services exporter, reported a 33.3 percent rise in profit for the December quarter, but tempered its outlook because of the debt crisis in Europe, its second-biggest market.

At early trade, the main 30-share BSE index .BSESN was down 0.49 percent at 16,095.84 points with 7 its components trading in the red.

Infosys was down 6.25 percent at Rs 2,650.25.

The company, however, managed to beat street forecasts with a 33 percent rise in fiscal third-quarter profit as a weak rupee boosted margins.

Bureau Report




First Published: Thursday, January 12, 2012, 10:32


Comments


comments powered by Disqus
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics
Google I/O 2014
Google I/O 2014
Maker Faire @ White House
Maker Faire @ White House
Amazon unveils 3D `Fire` smartphone
Amazon unveils 3D `Fire` smartphone
RIL`s 40th AGM
RIL`s 40th AGM

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved