Infosys cuts revenue growth target for a third time

Q3 profit up 7% to Rs 3,708 cr on improved productivity

Infosys Ltd, India’s second-largest software exporter, cut its annual forecast for a third time in the current financial year as it witnessed slow customer growth, prompting a sell-off at the BSE.
 
The Bengaluru-based bellwether forecast revenue growth of 7.5-8.5 per cent in terms of dollars for FY17. In April, it had guided projected revenue growth at 11.8-13.8 per cent for FY17.
 
In constant currency terms, Infosys said it would grow between 8.4 per cent and 8.8 per cent, against 8-9 per cent projected in October.
 
“The company’s constant currency guidance is a dampener. We expect very low