Monday, 27 February 2012
Infosys Q3 results
Infosys Ltd cut its full-year revenue outlook because of the debt crisis in Europe, sending down the shares of the No.2 Indian software services exporter by as much as 7.7 per cent to their lowest in more than a month.
India's export-driven software services companies are bracing for a slower pace of outsourcing contracts due to the troubles in Europe, Infosys's second-biggest market.
Bangalore-based Infosys forecast dollar revenue growth of 16.4 per cent for the fiscal year to March 31, down from 17.1 per cent to 19.1 per cent projected in October.
Infosys shares were down 6.4 per cent at 2,646 rupees by 0406 GMT, after falling nearly 8 per cent to their lowest since Nov. 30. The overall market was down 0.2 per cent.
India's export-driven software services companies are bracing for a slower pace of outsourcing contracts due to the troubles in Europe, Infosys's second-biggest market.
Bangalore-based Infosys forecast dollar revenue growth of 16.4 per cent for the fiscal year to March 31, down from 17.1 per cent to 19.1 per cent projected in October.
Infosys shares were down 6.4 per cent at 2,646 rupees by 0406 GMT, after falling nearly 8 per cent to their lowest since Nov. 30. The overall market was down 0.2 per cent.
