Infosys fell 8.67% to Rs 1,073.95 at 10:53 IST on BSE after the company trimmed its revenue growth guidance for the year ending 31 March 2017.
The result was announced during trading hours today, 15 July 2016.Meanwhile, the BSE Sensex was down 124.36 points, or 0.45%, to 27,817.75 .
On BSE, so far 14.65 lakh shares were traded in the counter, compared with an average volume of 1.67 lakh shares in the past one quarter. The stock hit a high of Rs 1,195 and a low of Rs 1,060 so far during the day. The stock hit a 52-week high of Rs 1,278 on 3 June 2016. The stock hit a 52-week low of Rs 969 on 15 July 2015. The stock had underperformed the market over the past one month till 14 July 2016, rising 0.06% compared with 5.86% decline in the Sensex. The scrip had also underperformed the market in past one quarter, rising 0.32% as against Sensex's 9.03% rise.
The large-cap company has an equity capital of Rs 1148.47 crore. Face value per share is Rs 5.
Shares of IT major Infosys tumbled after the company pared its revenue growth for the year ending 31 March 2017 (FY 2017) at the time of announcement of its Q1 June 2016 results today, 15 July 2016.
In constant currency terms, the company has forecast 10.5%-12% growth in revenue for FY 2017. At the time of announcement of Q4 March 2016 and FY 2016 results, the company had forecast 11.5%-13.5% growth in revenue for FY 2017 in constant currency terms.
On a consolidated basis, Infosys' net profit fell 4.5% to Rs 3436 crore on 1.4% growth in revenue to Rs 16,782 crore in Q1 June 2016 over Q4 March 2016. The results are as per International Financial Reporting Standards (IFRS).
Infosys CEO Vishal Sikka said in a statement that the company witnessed unanticipated headwinds in discretionary spending in consulting services and package implementations as well as slower project ramp-ups in large deals, resulting in a lower than expected growth in Q1 June 2016.
Infosys is one of the leading information technology outsourcing services providers. The company provides business consulting, information technology and outsourcing services.
Powered by Capital Market - Live News
