Infosys Shares Slump 5% As Brokers Disappointed With Margin Guidance

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Shares in Infosys slumped 5 per cent as many brokerage firms were disappointed by the margin guidance. The ADRs had dropped as much as 7 per cent on Friday. The company declared results post market hours on Friday and in Monday morning the shares were down almost 5 per cent at Rs 1,100 as a first reaction.

Infosys Shares Slump 5% As Brokers Disappointed With Margin Guidance
The company lowered the operating margin for the financial 2018-19 to 22-24 percent from 23-25 percent in the previous year.

The margins were likely to get impacted following a thrust on digital, employees costs etc. 

Infosys reported a consolidated net profit of Rs 3,690 crores which was largely in line with street expectations. On a sequential basis, profits of the company declined by 28% due to a one-off tax gain in Q3FY18.

The revenue for the company rose by 1.6% QoQ to Rs 18,083 crores for the quarter ending March 31, 2018, again in line with estimates. In December qtr, company reported revenue of 17,794 crore.The revenue was higher by 0.6% sequentially in constant currency terms and 1.8% in dollar terms.

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Read more about: infosys
Story first published: Monday, April 16, 2018, 9:26 [IST]
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