News Details

( 16/04/2018 12:24)
Infosys cuts FY19 EBIT margin guidance; stock dips 6%

Shares of Infosys dipped over 6 per cent on the Bombay Stock Exchange after the information technology (IT) major said its earnings before interest and tax (EBIT) will grew 22-24% for 2018-19 (FY19) as compared to 24.3% achieved in FY18.

Thus far in the calendar year 2018, Infosys had outperformed the market by surging 12% against a marginal 0.4% rise in the benchmark index till Friday.

Infosys said while announcing its Q4FY18 results in post market hours on Friday that it expects revenue for FY19 to grow in the range of 6-8% in constant currency (CC) terms and 7-9% in US dollar terms.

Reacting to the news, stocks of the company was trading 3.26 per cent lower at Rs 1130.85 apiece on the Bombay Stock Exchange.

In a similar trend, shares of the company were trading 3.48 per cent lower at Rs 1,130.70 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 34,108.13, down 84.52 points, or 0.24 per cent, at 12:00 hours.

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