Infosys Down In Pre-Market On Nearly Flat Revenue Growth

(RTTNews) - Shares of Infosys Ltd (INFY) were down more than 7 percent in pre-market on Thursday to $15.74, after the Indian tech giant posted nearly flat revenue for the fourth quarter.

Revenue for the quarter was $4.564 billion compared with $4.554 billion in the previous year.

Net profit after minority interest for the quarter, however, increased to $958 million or $0.23 per share from $744 million or $0.18 per share a year ago, primarily due to other income of $315 million. Other income was $72 million last year.

Net profit before minority interest was $959 million, up from $745 million last year.

On average, 8 analysts polled by Thomson-Reuters expected the company to report earnings of $0.17 per share on revenue of $4.52 billion.

INFY shares had closed at $16.95, down 0.59 percent on Wednesday. The stock has been trading in the range of $14.71 - $20.74 in the last 1 year.