Infosys Posts Rise In Q4 Profit, Issues Weak Forecast
Infosys Ltd (NASDAQ: INFY) reported a 27% surge in its Q4 consolidated net profit, but issued a weak dollar revenue outlook for the fiscal year.
Infosys' quarterly net profit climbed to INR23.16 billion, from INR18.18 billion in the year-ago period. Its net profit dropped 2.4% versus the previous three months.
Infosys' consolidated revenue climbed more than 22% to INR88.52 billion versus INR72.50 billion. Its revenue declined 4.8% sequentially.
Analysts were expecting a net profit of INR22.96 billion on revenue of INR91.50 billion. Infosys projects current fiscal-year revenue to surge 8%-10% to $7.55 billion-$7.69 billion.
Infosys shares closed at $56.77 yesterday.
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