Infosys shares closes 4% down post Q2 earnings

Shares of Infosys slipped 5 per cent in trade on Monday, the biggest intraday fall since August 24, soon after the IT firm slashed full year dollar revenue guidance to 6.4 per cent to 8.4 per cent.

The country's second largest software company posted 9.8 per cent increase in consolidated net profit to Rs 3,398 crore for the quarter ended September 30, 2015 .

The Bangalore-based firm had reported a net profit of Rs 3,096 crore in the year-ago period.

The stock closed at Rs 1122.50, down 3.88% after hitting its intraday low of Rs 1108.90, down 5.04%.

The company also announced that its Executive Vice President and CFO Rajiv Bansal has resigned. He will be replaced by M D Ranganath at the close of business today.

Ranganath has held several leadership positions during a tenure of nearly 15 years with Infosys.

"We are experiencing a once-in-a-generation opportunity for a services company to help businesses maximise their potential with technology... I am encouraged by our progress.

While results in any one quarter are transitory snapshots of a long journey, we do see our focussed execution along our strategy starting to produce encouraging results for our clients, shareholders and Infoscions," Infosys CEO and MD Vishal Sikka said.

(With inputs from PTI)