Infosys Q1 profit falls 4.5%, cuts FY17 dollar revenue guidance

Epic Update Infosys
Epic Update Infosys

Infosys’ Q1 profit fell 4.5 percent sequentially to Rs 3,436 crore and revenue increased 1.4 percent to Rs 16,782 crore. Dollar revenue was up 0.5 percent to USD 2,501 million QoQ.

Profit was estimated at Rs 3,447 crore (down 4.2 percent) on revenue of Rs 17,089 crore (up 3.25 percent) for the quarter. Dollar revenue was expected at USD 2,547 million, according to average of estimates of analysts polled by CNBC-TV18.

The country’s second largest IT services exporter lowered its constant currency revenue growth guidance to 10.5-12 percent from 11.5-13.5 percent.

Meanwhile, Infosys’ global head of Mana & CIS, Samson David has resigned, according to sources that told CNBC-TV18 yesterday. Mana is company’s knowledge based artificial intelligence platform.

The scrip of Infosys was quoting at Rs 1,106.00, down Rs 69.85, or 5.94 percent on the Bombay Stock Exchange.
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