Infosys shares slump as FY13 guidance disappoints

INDIA-INFOSYS-SHARES:Infosys shares slump as FY13 guidance disappoints

Infosys Ltd shares slumped on Thursday after India's second-biggest software services exporter issued a much lower-than-expected guidance for the fiscal year ending in March 2013.

Infosys shares fell as much as 10.2 percent after the company said it expected revenue to grow by 5 percent in the fiscal 2013 year, below previous outlook of 8-10 percent.

Net profit for Infosys rose to 22.89 billion rupees in the quarter ended June from 17.2 billion rupees a year earlier.