Infosys shares fall over 4% after Q2 earnings

Shares of Infosys on Monday fell over 4% after the company reported a decline in its consolidated net profit for the July-September quarter. The scrip dropped 4.25% to Rs. 781 on the BSE. On the NSE, it fell 4.27% to Rs. 780.

'Net profit declined by 2.2%'

The country's second-largest IT services company on Friday said that its consolidated net profit declined by 2.2% to Rs 4,019 crore for the July-September 2019 quarter. This is against a net profit of Rs. 4,110 crore in the same period last fiscal, Infosys said in a regulatory filing.The company's revenue rose by 9.8% to Rs. 22,629 crore in the quarter under review from Rs. 20,609 crore in the year-ago period. In constant currency terms, this translates into an 11.4% increase. Infosys also raised the lower-end of its FY2019-20 revenue guidance and the revised forecast now stands at 9-10% growth in constant currency terms.