India's Infosys posts 27 percent Q4 profit rise

Indian software exporter Infosys posted a 27 percent rise in quarterly net profit on Friday, but a weaker than expected revenue outlook saw its shares tumble in early trade.

Net profit for the Nasdaq-listed firm rose to 23.16 billion rupees ($454 million) in the three months to March from 18.2 billion rupees a year earlier.

The company forecast its full-year dollar-based revenue for the new fiscal year which started April 1, at $7.55 billion to $7.69 billion, an 8 to 10 percent rise.

Analysts had been looking for a revenue outlook of up to 15 percent, and Infosys shares plunged as much as 10.86 percent to 2,451.25 rupees in early trade Friday at the Bombay Stock Exchange.

Infosys, which is closely watched by investors as a barometer for the country's technology sector, added 52 clients and a net 4,906 staff in the quarter.

Most of India's IT outsourcing firms say the global outlook remains difficult.

Nasscom forecasts India's IT export revenues to slow in the new fiscal year, estimating growth of up to 14 percent to $78 billion in the period.


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