 "Infinite Computer tanks 20% on weak FY16 guidance")
Shares of Infinite Computer Solutions (India) are locked at the lower circuit of 20% at Rs 210 on the BSE after the company said that net profit for the financial year 2015-16 (FY16) is expected to be flat. The revenue growth is projected at 5%-10%.
Meanwhile, the information technology (IT) consulting & software firm reported a sharp 78.9% quarter on quarter (QoQ) drop in its consolidated net profit at Rs 10.20 crore for the fourth quarter ended March 2015 (Q4), due to lower revenue growth. It had posted a profit of Rs 48.43 crore in the December 2014 quarter.
Net revenues declined by 12.7% at Rs 425 crore on QoQ basis, Infinite Computer said in a statement.
The EBITDA or operating profit were down 67% QoQ to Rs 24.1 crore, the company added.
Till 1122 hours, a combined 60,671 shares changed hands and there were pending sell orders for 563,969 shares on the BSE and NSE.
Meanwhile, the information technology (IT) consulting & software firm reported a sharp 78.9% quarter on quarter (QoQ) drop in its consolidated net profit at Rs 10.20 crore for the fourth quarter ended March 2015 (Q4), due to lower revenue growth. It had posted a profit of Rs 48.43 crore in the December 2014 quarter.
Net revenues declined by 12.7% at Rs 425 crore on QoQ basis, Infinite Computer said in a statement.
The EBITDA or operating profit were down 67% QoQ to Rs 24.1 crore, the company added.
Till 1122 hours, a combined 60,671 shares changed hands and there were pending sell orders for 563,969 shares on the BSE and NSE.