infosys share price: Infosys did not provide any guidance on revenues and margins for FY 21.
Infosys shares weakened by nearly 4 per cent to Rs 627.80 on the NSE after the company reported a decline of 3.05 per cent in net profit for the fourth quarter ended March 2020. At 10:30 am, the shares of Infosys were trading at Rs 637, lower by 16 points or 2.4 per cent. The shares have hit an intra-day low of Rs 627 and a high of Rs 646 thus far.
The country's second largest information technology, post market hours on Monday, reported a sequential decline of 3.05 per cent in net profit for the January-March period to Rs 4,321 crore, compared to net profit of Rs 4,457 crore for the previous quarter.
Infosys did not provide any guidance on revenues and margins for FY 21, given the business uncertainty emanating from Covid-19. It did, however, warn of a continued slowdown in the near term resulting from a broad-based global economic recession. Last week, Wipro had also refrained from giving quarterly guidance after announcing its quarterly numbers.
The BSE Sensex was quoting a 30,760, weaker by 884 points and the NSE Nifty was at 9,004, down 257 points at the time.
