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

Last Updated: Thursday, January 12, 2012 - 10:32

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
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