Infosys cuts annual sales outlook amid boardroom upheaval

Bangalore

INFOSYS LTD slashed its annual revenue forecast, as the Indian software outsourcing giant deals with the aftermath of a boardroom coup that forced out its top executive.

The software exporter is now forecasting 6.5 per cent to 7.5 per cent growth in revenue in the year ending March in US dollar terms, versus the 7.6 per cent rise analysts were anticipating. That reduction came even after the company reported net income of 37.3 billion rupees (S$782 million) in the September quarter, slightly beating the 35.3 billion rupees projected.