Infosys Cuts Sales Guidance as Shares Drop Amid CFO's Exit
- FY16 dollar revenue growth forecast lowered to 6.4% to 8.4%
- 2Q profit beats estimates; board announces interim dividend
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Infosys Ltd., India’s second-biggest software exporter, reduced its annual sales growth forecast in dollar terms and Chief Financial Officer Rajiv Bansal resigned. Shares dropped the most in seven weeks.
The company said revenue is likely to grow 6.4 percent to 8.4 percent in the financial year through March 31, lowering its earlier guidance of 7.2 percent to 9.2 percent, according to a statement. Net income in the quarter through Sept. 30 still rose 9.7 percent from a year earlier, beating analysts estimates, as it added 82 clients in the three months.