Despite the fact that the IT major was able to post better than expected results to the market but the stock of the company failed to please the investors.
The IT bellwether beat the market expectations by filing a 13 per cent rise in net profit at Rs1,737 crore for the quarter ended September 2010 and has set the right tone for the company who will be announcing their results in the times to come.
The Bangalore major company also said that it will be giving a special dividend of Rs30 per share to the investors which will be a mark of its entry into the third decade of operations and this dividend will be separate from Rs 10 interim dividend that the company will be giving to the investors.
It is to be mentioned here that the company also announced an interim dividend of Rs. 10 last year as well. However, the stock of the company didn't fared well on the bourses as it fell by close to 3.39 per cent or Rs108 to Rs3,076.15 on its disappointing guidance.
Infosys didn't raise its outlook for the rupee terms and said that the company will be hiking its guidance in the US dollar terms. V. Balakrishnan, chief financial officer (CFO), Infosys Technologies said that as there is still economic uncertainty over the financial conditions, the currency volatility is still a very big concern for the industry.
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