India's No. 2 software services exporter, reported a 15.4 per cent rise in fiscal first-quarter profit, narrowly missing expectations as a surge in wages offset strong demand from western clients.
Bangalore-based Infosys, also listed on the Nasdaq, said consolidated net profit rose to Rs 17.2 billion ($387 million), from Rs 14.9 billion a year earlier.
A Reuters poll of brokerages had forecast a profit of Rs 17.29 billion for the company, which countsGoldman Sachs, BT Group and BP among its main clients.
India's $60 billion showpiece IT sector is enjoying solid growth from improved pricing for its services and increased outsourcing by companies looking to cut costs and boost efficiency amid growing economic uncertainty.
Shares in Infosys, valued at more than $38 billion, have fallen 15.2 per cent this year, compared with an 11.7 per cent drop in the sector index and a 8.5 per cent fall in the Mumbai index.
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