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Infosys shares slip nearly 3% post Q4 earnings

Shares of IT services firm Infosys today fell nearly 3 percent after it reported lower-than -expected earnings for the quarter ended March 2017.



New Delhi: Shares of IT services firm Infosys today fell nearly 3 percent 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 percent to Rs 941.40 on BSE.

At NSE, shares of the company lost 2.87 percent to Rs 941.

The country's second-largest IT services firm Infosys on Thursday 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 percent 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 percent 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 percent and 8.1 percent in dollar terms and 6.5-8.5 percent in constant currency terms.

On a sequential basis, Infosys' net profit fell 2.8 percent, while revenue declined 0.9 percent.
 

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