BANGALORE Oct 11 Infosys, India's
second-largest software services exporter, posted a quarterly
profit which missed analyst estimates, and raised the lower end
of its revenue guidance for the fiscal year ending in March.
Consolidated net profit for the three months to Sept. 30 was
24.07 billion rupees ($391 million) compared with 23.69 billion
rupees in the same period a year earlier, the Bangalore-based
company said in a statement Friday.
That missed the 26.26 billion rupees average of analyst
estimates according to Thomson Reuters I/B/E/S, though the
earnings suffered from a 2.19 billion rupee provision for "visa
Infosys, which trails market leader Tata Consultancy
Services by revenue, counts among its customers Bank of
America Corp, BT Group PLC, Procter & Gamble Co
and Volkswagen AG.
As expected, Infosys, one of the relatively few companies in
India to give guidance, narrowed the range for its fiscal year
revenue growth outlook to 9-10 percent, from 6-10 percent
The forecast compares with 12-14 percent for the sector,
according to an estimate by the National Association of Software
and Services Companies.
($1 = 61.5900 Indian rupees)
(Reporting by Harichandan Arakali; Editing by Christopher
Cushing and Tony Munroe)