MUMBAI (Reuters) - Infosys Ltd, India's No. 2 IT services exporter, marginally beat analyst estimates on Friday with a 3.4 percent rise in quarterly profit as the company won orders from customers including German automaker BMW.
The company said it expected 2013/14 revenue to grow 6-10 percent, lower than market expectations of 12 percent, and added that global economic uncertainties remain challenging for the industry.
Consolidated net profit for the fiscal fourth quarter ended March 31 was 23.9 billion rupees, compared with 23.16 billion in the same period a year earlier.
That compared with an average estimate of 23 billion rupees in a survey of 18 analysts by Thomson Reuters I/B/E/S.
COMMENTARY
G. CHOKKALINGAM, EXECUTIVE DIRECTOR & CHIEF INVESTMENT OFFICER, CENTRUM WEALTH MANAGEMENT, DELHI
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"Only the perception has changed, the business remains a bit lumpy for Infosys.
"The company is growing in single digits in US dollar terms which is not good. The stock should fall at least 5-10 percent on these results."
(Reporting by Companies, Markets teams; Editing by Ranjit Gangadharan)