Infosys Q1 net profit up 13 percent but misses estimates; shares slide

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Reuters NEW DELHI
Last Updated : Jul 15 2016 | 10:48 AM IST

NEW DELHI (Reuters) - India's second-largest IT services company Infosys Ltd said on Friday its first-quarter net profit grew 13 percent on new client wins but came in marginally below analysts' estimates, sending Bombay-listed shares sharply lower.

Consolidated net profit for the three months ended June 30 grew to 34.36 billion Indian rupees ($513 million) from 30.3 billion rupees a year earlier, the company said. Analysts on average had expected a net profit of 34.42 billion rupees, according to data compiled by Thomson Reuters.

At 0455 GMT, Infosys shares in Bombay were trading 8 percent lower.

($1 = 66.9300 Indian rupees)

(Reporting by Aditi Shah; Editing by Kenneth Maxwell)

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First Published: Jul 15 2016 | 10:37 AM IST

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