Infosys lost 2.11% to Rs 978.95 at 12:29 IST on BSE after the company trimmed its revenue growth guidance in dollar terms for the current financial year at the time of announcing Q3 December 2016 results today, 13 January 2017.
Meanwhile, the S&P BSE Sensex was down 27.40 points or 0.1% at 27,219.76
On BSE, 4.23 lakh shares were traded in the counter as against average daily volume of 2.29 lakh shares in the past one quarter. The stock had hit a high of Rs 1,045 and a low of Rs 964 so far during the day.
The stock had hit a record high of Rs 1,278 on 3 June 2016. The stock hit a 52-week low of Rs 900.30 on 9 November 2016. The stock had underperformed the market over the past 30 days till 12 January 2017, falling 2.66% compared with Sensex's 2.42% rise. The scrip had also underperformed the market in past one quarter, sliding 6.73% as against Sensex's 1.54% fall.
The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.
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Infosys now expects its dollar revenue to grow between 7.2% and 7.6%, down from its earlier expectation of growing between 7.5% and 8.5% in the current financial year ending 31 March 2017 (FY 2017).
The software firm has reduced its FY 2017 growth guidance in dollar terms for the third straight time in the current financial year. The company had at the beginning of FY 2017 estimated its dollar revenue to grow between 11.8 and 13.8%.
In constant currency terms, Infosys now expects revenue to grow between 8.4% and 8.8% as against its earlier estimate of growing between 8% and 9% for the full year. In constant currency terms, the company had forecast 10.5%-12% growth in revenue for FY 2017 at the time of announcing Q1 result on 15 July 2016.
Infosys' consolidated net profit rose 2.8% to Rs 3708 crore on 0.2% fall in revenue to Rs 17273 crore in Q3 December 2016 over Q2 September 2016. The results are as per International Financial Reporting Standards (IFRS). The result was announced before market hours today, 13 January 2017.
Infosys' consolidated net profit rose 1.5% to $547 million on 1.4% fall in revenue to $2551 million in Q3 December 2016 over Q2 September 2016. The results are as per International Financial Reporting Standards (IFRS).
Infosys said that the company has added 77 clients in Q3 December 2016, including two clients in the $75 million-plus revenue category. Liquid assets including cash and cash equivalents and investments were Rs 35697 crore as on 31 December 2016 as compared to Rs 35640 crore as on 30 September 2016 and Rs 31526 crore as on 31 December 2015.
Vishal Sikka, CEO and MD said that taking into account seasonal and other additional headwinds for the quarter, the company's Q3 revenue performance was broadly in line with its expectations. The company continues to focus sharply on the execution of strategy, as reflected in the growing embrace of AI-based automation, growth in our new software-led business, delivering innovation, both incremental & breakthrough and fostering a learning-led culture.
Infosys is one of the leading information technology outsourcing services providers. The company provides business consulting, information technology and outsourcing services.
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