Infosys Q2 Profit Rises and Cuts FY17 Revenue Growth View

(RTTNews.com) – Shares of Infosys Technologies Ltd.(INFOSYSTCH, 500209, INFY) were declining in the trading in India on Friday after the software exporter trimmed its outlook for the year 20117. Looking ahead, for fiscal 2017, the company now expects revenues to grow 8 percent to 9 percent in constant currency, compared to previous estimate of a growth of 10.5 percent-12.0 percent in constant currency. Infosys Technologies Ltd The company’s second-quarter net profit increased 3.8% to $539 million from last year’s $519 million. Earnings per share were $0.24, higher than $0.23 last year. Operating profit improved to $644 million from $610 million last year.  
Revenues in all regions increased. Revenues from North America grew to $1.59 billion from last year’s $1.51 billion. Further, the Board of Directors declared an interim dividend of 11 Indian rupees per share or $0.17 per ADS. On the NSE, Infosys shares are trading at 1,037.05 rupees, down 1.45 percent.

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