Infosys shares surge post-8.8% plunge

Infosys was down 3.9 percent at 0523 GMT,after having fallen as much as 8.8 percent earlier.

Written by Agencies | Published: October 12, 2012 11:36:56 am

Infosys Ltd shares recouped losses after India’s second-largest software services exporter clarified that the revenue growth forecast for the current fiscal year that ends in March 2013 does not include revenue from Lodestone Holding AG.

Infosys was down 3.9 percent at 0523 GMT,after having fallen as much as 8.8 percent earlier in the day.

Infosys reported a 24 percent gain in quarterly profit,in line with estimates,and said it expects revenue growth of at least 5 percent for the fiscal year,maintaining its previous outlook.

Chief Financial Officer V. Balakrishnan later clarified that the growth forecast excludes revenue from Lodestone,which Infosys agreed to buy in a deal valued at 330 million Swiss francs ($353 million) last month.

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