BENGALURU: India’s No. 2 software services exporter Infosys halved its full-year revenue forecast on Thursday as clients cut back spending and delayed making decisions on future projects in a challenging economic environment.
The grim forecast, which coincided with a weaker-than-expected profit in the first quarter, pushed the company’s US-listed shares down nearly 7% in pre-market trading.
The company, a prominent name in the $245 billion Indian IT industry, cut its full-year revenue growth to 1%-3.5% on a constant currency basis from 4%-7% previously.
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