IT major Infosys lowered its revenue growth guidance for the second straight quarter, sending is shares over 5 per cent lower to a fresh 52-week low of Rs 996, as CEO Vishal Sikka said the IT major continues to navigate an “uncertain external environment”.
The Bengaluru-based outsourcer said that it now expects revenue to grow at 8-9 per cent in constant currency terms for the current fiscal year, as compared to its earlier guidance of 10.5-12 per cent. Track your stocks here
This is the second time Infosys has lowered its guidance in this fiscal.
India's second largest outsourcer had at the beginning of this fiscal year had estimated its revenue growth at 11.5-13.5 per cent.
Commenting on the guidance revision, CEO Vishal Sikka said, "While we continue to navigate an uncertain external environment, we remain focused on executing our strategy and increasing momentum of our software plus services model. Considering our performance in the first half of the year and the near-term uncertain business outlook, we are revising our revenue guidance."
Meanwhile, Infosys in its second quarter ending September 30, 2016, reported better-than-estimated net profit of Rs 3,606 crore on revenue of Rs 17,310 crore.
Infosys was expected to post a net profit of Rs 3,527 crore on revenues of Rs 17,179 crore, according to an NDTV Profit poll of analysts.
The closely tracked dollar revenue in the second quarter came in at $2,587 million against the Street's estimate of $2,563 million.
Infosys' operating margin improved 80 basis points sequentially to 24.9 per cent in the previous quarter.
The Bengaluru-based outsourcer had reported a net profit of Rs 3,436 crore on revenues of Rs 16,782 crore in the June quarter.
"…Infosys results are better than TCS and even though outlook is muted, company is likely to out-grow TCS in FY17 constant currency revenue terms," stock broker Prabhudas Lilladher said in a note.
Shares in Infosys ended 2.34 per cent lower at Rs 1,027.40 apiece on the BSE, whose benchmark Sensex index finished up 0.11 per cent.
IT major Infosys lowered its revenue growth guidance for the second straight quarter, sending is shares over 5 per cent lower to a fresh 52-week low of Rs 996, as CEO Vishal Sikka said the IT major continues to navigate an “uncertain external environment”.
The Bengaluru-based outsourcer said that it now expects revenue to grow at 8-9 per cent in constant currency terms for the current fiscal year, as compared to its earlier guidance of 10.5-12 per cent. Track your stocks here
This is the second time Infosys has lowered its guidance in this fiscal.
India's second largest outsourcer had at the beginning of this fiscal year had estimated its revenue growth at 11.5-13.5 per cent.
Commenting on the guidance revision, CEO Vishal Sikka said, "While we continue to navigate an uncertain external environment, we remain focused on executing our strategy and increasing momentum of our software plus services model. Considering our performance in the first half of the year and the near-term uncertain business outlook, we are revising our revenue guidance."
Meanwhile, Infosys in its second quarter ending September 30, 2016, reported better-than-estimated net profit of Rs 3,606 crore on revenue of Rs 17,310 crore.
Infosys was expected to post a net profit of Rs 3,527 crore on revenues of Rs 17,179 crore, according to an NDTV Profit poll of analysts.
The closely tracked dollar revenue in the second quarter came in at $2,587 million against the Street's estimate of $2,563 million.
Infosys' operating margin improved 80 basis points sequentially to 24.9 per cent in the previous quarter.
The Bengaluru-based outsourcer had reported a net profit of Rs 3,436 crore on revenues of Rs 16,782 crore in the June quarter.
"…Infosys results are better than TCS and even though outlook is muted, company is likely to out-grow TCS in FY17 constant currency revenue terms," stock broker Prabhudas Lilladher said in a note.
Shares in Infosys ended 2.34 per cent lower at Rs 1,027.40 apiece on the BSE, whose benchmark Sensex index finished up 0.11 per cent.
IT major Infosys lowered its revenue growth guidance for the second straight quarter, sending is shares over 5 per cent lower to a fresh 52-week low of Rs 996, as CEO Vishal Sikka said the IT major continues to navigate an “uncertain external environment”.
The Bengaluru-based outsourcer said that it now expects revenue to grow at 8-9 per cent in constant currency terms for the current fiscal year, as compared to its earlier guidance of 10.5-12 per cent. Track your stocks here
This is the second time Infosys has lowered its guidance in this fiscal.
India's second largest outsourcer had at the beginning of this fiscal year had estimated its revenue growth at 11.5-13.5 per cent.
Commenting on the guidance revision, CEO Vishal Sikka said, "While we continue to navigate an uncertain external environment, we remain focused on executing our strategy and increasing momentum of our software plus services model. Considering our performance in the first half of the year and the near-term uncertain business outlook, we are revising our revenue guidance."
Meanwhile, Infosys in its second quarter ending September 30, 2016, reported better-than-estimated net profit of Rs 3,606 crore on revenue of Rs 17,310 crore.
Infosys was expected to post a net profit of Rs 3,527 crore on revenues of Rs 17,179 crore, according to an NDTV Profit poll of analysts.
The closely tracked dollar revenue in the second quarter came in at $2,587 million against the Street's estimate of $2,563 million.
Infosys' operating margin improved 80 basis points sequentially to 24.9 per cent in the previous quarter.
The Bengaluru-based outsourcer had reported a net profit of Rs 3,436 crore on revenues of Rs 16,782 crore in the June quarter.
"…Infosys results are better than TCS and even though outlook is muted, company is likely to out-grow TCS in FY17 constant currency revenue terms," stock broker Prabhudas Lilladher said in a note.
Shares in Infosys ended 2.34 per cent lower at Rs 1,027.40 apiece on the BSE, whose benchmark Sensex index finished up 0.11 per cent.
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