Shares of India”s second-largest software firm Infosys have dropped over 18 percent to 2,385 rupees on the Bombay Stock Exchange.
The sharp drop came after the firm’s growth forecast for the current financial year fell short of market expectations.
Infosys forecast revenue growth of between six and ten percent, but most analysts had expected a rise of nearly 12 percent, the BBC reports.
According to the report, the firm also reported a net profit of 23.9 billion rupees for the January to March quarter.
That compares with a net profit of 23.2bn rupees a year earlier. (ANI)