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Infosys shares slump 9% as Q4 profit misses street view -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: On October 19, 2017, the SIBOS financial and banking conference was held in Toronto (Ontario), Canada. The Infosys logo can be seen. Picture taken October 19, 2017. REUTERS/Chris Helgren/File photo

BENGALURU, Reuters – Indian software company Infosys fell 9% Monday. This was due to fears that the sector will see growth normalisation following a boom triggered by a pandemic.

Infosys India’s 2nd largest software company reported on Wednesday that it had a consolidated profit of 56.86 Billion Rupees ($744.05 Million) for its quarter ended March 31, which was lower than analysts expected of 59.80 Billion rupees.

Nifty IT services index fell by 3.24%

Public holidays caused Indian markets to be closed Thursday and Friday.

($1 = 76.4200 Indian Rupees)

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