IT major Infosys started off the financial year on a tepid note, missing analysts' estimates on revenues for the June quarter and reporting a net profit on expected lines. A bigger disappointment for the market was the lowering of constant currency revenue guidance for the year. Quarterly net profit declined 4.5 percent sequentially to Rs 3,436 crore and revenue increased 1.4 percent to Rs 16,782 crore.
Revenue in dollar terms grew by 2.2 percent to USD 2,501 million and constant currency dollar revenue growth stood at 1.7 percent compared with preceding quarter.
"We had unanticipated headwinds in discretionary spending in consulting services and package implementations as well as slower project ramp-ups in large deals that we had won in earlier quarters, resulting in a lower than expected growth in Q1," Vishal Sikka, CEO and MD said in company's filing to the exchange.
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Revenue in dollar terms grew by 2.2 percent to USD 2,501 million and constant currency dollar revenue growth stood at 1.7 percent compared with preceding quarter. 
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