Infosys Shares Drop 6% on Weak Q4; Bonus Issue Fails to Cheer Investors

Infosys, India's second largest IT outsourcer, on Friday reported a net profit of Rs 3,097 crore on sales of Rs 13,411 crore for the March quarter, missing Street estimates. In dollar terms, Infosys revenues dropped by 0.4 per cent in constant currency during the fourth quarter, a big negative considering all its competitors had reported an uptick in dollar revenue growth. TCS had reported a 1.6 per cent growth in dollar revenues, H...