Wires

Infosys shares recoups losses after clarification; down 4 pct

Share

Oct 12 (Reuters) - Infosys Ltd shares recoupedlosses after India's second-largest software services exporterclarified that the revenue growth forecast for the currentfiscal year that ends in March 2013 does not include revenuefrom Lodestone Holding AG.

Infosys was down 3.9 percent at 0523 GMT, after havingfallen as much as 8.8 percent earlier in the day.

Infosys reported a 24 percent gain in quarterly profit, inline with estimates, and said it expects revenue growth of atleast 5 percent for the fiscal year, maintaining its previousoutlook.

Chief Financial Officer V. Balakrishnan later clarified thatthe growth forecast excludes revenue from Lodestone, whichInfosys agreed to buy in a deal valued at 330 million Swissfrancs ($353 million) last month.

(Reporting by Sumeet Chatterjee; Editing by Prateek Chatterjee)

((sumeet.chatterjee@thomsonreuters.com)(+91-22-61807068)(Reuter

Messaging: sumeet.chatterjee.thomsonreuters.com@reuters.net))

Keywords: INDIA INFOSYS/SHARES