Infosys, India's second largest software services company by revenue, reported its September quarter results on Tuesday.
Here are some of the key highlights of the results:
- Infosys slashed its revenue guidance for the fiscal. The software exporter is now forecasting 6.5 percent to 7.5 percent growth in revenue in the year ending March in U.S. dollar terms, versus the 7.6 percent rise analysts were anticipating.
- The company reported net income of 37.3 billion rupees ($573 million) in the September quarter, slightly beating the 35.3 billion rupees projected.
- For the second quarter, Infosys' revenue on constant currency rose 2.2 percent, better than the performance of peers Tata Consultancy Services and Wipro.
- North America, which contributes to a major pie to all IT services' companies' revenue, grew 1.9 percent sequentially on constant currency, Europe 4.1 percent, while the India business was down 5.1 percent.
- Infosys shares slid about 1.4 percent Tuesday.The company announced the results after the close of the stock markets, so the impact of the guidance on the share price remains to be seen.