Infosys (NS:INFY), India's second-largest IT services provider, reported profit figures that fell short of quarterly profit expectations on Thursday.
The company also adjusted its full-year revenue forecast due to weak client demand amid global economic uncertainties.
The consolidated net profit declined by 7.3% to 61.06 billion rupees ($735.55 million) in the seasonally slow third quarter compared to the previous year, according to Reuters. Analysts had anticipated a profit of 61.67 billion rupees.
Infosys revised its full-year revenue growth projection for the third consecutive quarter to 1.5%-2% on a constant currency basis, down from the previous range of 1%-2.5%. Despite the challenges, third-quarter revenue increased slightly to 388.21 billion rupees, surpassing the analyst average estimate of 387.13 billion rupees.