Infosys Q4 profit down 2.8% to Rs 3603 crore, stock dips over 1%

India’s second largest software services firm saw 2.8 per cent decline in net profits to Rs 3603 crore for the quarter ended on March 31, 2017. The company’s revenues dipped by 0.9 per cent to Rs 17120 crore during the January-March quarter of the last fiscal.    

Infosys reported an operating margin of 24.6 per cent during the fourth quarter.

For the whole year FY17, Infosys net profits grew 6.4 per cent to Rs 14353 crore on revenues of Rs 68484 crore.

The Bengaluru-based bellwether forecast revenue guidance of 6.5 per cent to 8.5 per cent for fiscal 2018, indicating that the woes for Indian IT services firms continue.

Infosys stock dropped 1.32 per cent or Rs 12.80 at Rs 956 at 9.23 am on the Bombay stock Exchange.