Indian IT outsourcing firm Infosys has reported a smaller-than-expected profits rise and warned of risks to growth in the software sector.
Net profit for the final three months of last year came in at 17.8bn rupees ($394m; £250m), a rise of 14.1% against a year earlier and well below analysts' expectations.
Slower growth in developed markets could affect future growth in the IT sector, the company said.Infosys shares fell 5.3% as a result.
Revenues for the final quarter of the year were 7.1bn rupees, up from 5.7bn a year ago.
However, the company warned that the IT sector faced threats to future growth.
"The weaker economic recovery in developed markets coupled with high unemployment and risk of sovereign default could impact industry growth," said chief executive Kris Gopalakrishnan.
Infosys is the second largest of India's big three IT firms, behind Tata Consultancy Services, and ahead of Wipro. |
发表于 2011-1-13 07:36
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