Disappointing 4th-qtrr earnings, lower dollar revenue and EPS guidance for FY13 drags stock down
Infosys is trading lower by 2% at Rs 2,360, extending its record single day fall of around 13% on Friday, after the IT bellwether reported disappointing fourth quarter earnings and offered lower dollar revenue and earning per share (EPS) guidance for FY13.
The IT major has guided for 8-10% growth in dollar revenue terms which is much lower than expectations of 12-15%. The company expects FY13 dollar revenues at $7553-7692 million. The FY13 EPS guidance is expected at Rs 158.76-161.4 (at assumed currency rate of INR50.88/USD).
A combined around two million shares have changing hands on the counter so far on both the exchanges.
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