Infosys shares fall nearly 5% after profit drops 9%
Business
Infosys's U.S.-listed shares dropped nearly 5% in premarket trading on Thursday, after the company reported a 9% fall in quarterly profit to ₹7,769 crore, its second-biggest drop in two years.
The market was also let down by Infosys trimming its annual revenue growth guidance from 3.5% to 3%.
Ashiss Kumar Dash named CEO designate
Despite the tough quarter, Infosys's profit is still up 12% year-over-year, and revenue grew 14% to ₹48,211 crore.
The board also named Ashiss Kumar Dash as CEO designate; he'll officially take over as CEO and managing director in April 2027.