Infosys Ltd , the country's second-largest software services exporter, reported a marginal decline of 1.2% in sequential net profit at Rs 2,289 crore and has cut its guidance for the full year. The company said global economic situation resulted in slower IT spending by its large clients.
Here are a few expert opinions on the results.
HARIT SHAH, SENIOR RESEARCH ANALYST, NIRMAL BANG INSTITUTIONAL EQUITIES, MUMBAI
"Everything is poor in Infosys results, and this kind of guidance cut will definitely materialise into further derating of the stock."
"One should expect more downgrades on Infosys in coming days on slumping demand. TCS (Tata Consultancy Services , however, will do better."
SURESH PARMAR, ASSOCIATE VICE PRESIDENT, INSTITUTIONAL EQUITIES, KJMC CAPITAL MARKETS
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"The results and forecast are also not appealing. This will have a negative effect on the company. We see significant downside for the stock in the medium term."