Infosys, one of India’s leading software exporters, experienced a sharp decline in its share price, falling approximately 9% in early trade on a Friday. This decline was triggered by the company’s decision to revise its full-year revenue growth projection and disappointing first-quarter profit results.
The company had previously projected its full-year revenue growth to be in the range of 4-7% on a constant currency basis. However, it significantly reduced the revenue guidance to a much lower range of 1-3.5%. This revision indicates a challenging period ahead for Infosys, and investors may have reacted negatively to the news, leading to the decline in the share price.
The reduction in revenue guidance suggests that the company may face headwinds in its business operations, which could impact its financial performance in the coming quarters. Such revisions can have a significant impact on investor sentiment and market perception of the company’s outlook.
