BENGALURU, July 21 (Reuters) - Shares of Infosys (INFY.NS), India's second-largest software exporter, fell as much as 9% on Friday, after the company halved its full-year revenue growth outlook and posted a weaker-than-expected first-quarter profit.
The company cut its revenue guidance to 1%-3.5% on a constant currency basis from the previous 4%-7%.
Infosys Chief Executive Salil Parekh attributed the guidance cut to delays in decision-making by clients.
Last week, market leader Tata Consultancy Services (TCS.NS) warned of an uncertain demand environment, while smaller peers HCLTech (HCLT.NS) and Wipro (WIPR.NS) reported and projected muted growth.
($1 = 82.0440 Indian rupees)Reporting by Varun Vyas in Bengaluru; Editing by Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.
Persons:
Salil Parekh, Varun Vyas, Sohini Goswami
Organizations:
Infosys, Tata Consultancy Services, Wipro, Thomson
Locations:
BENGALURU, Bengaluru