$INFY

Infosys Ltd.'s American Depository Receipt (ADR) fell nearly 5% in pre-market trading in New York on Thursday after the company's June-quarter results missed profit expectations and it lowered the upper end of its FY27 revenue growth guidance. An American Depository Receipt (ADR) is a negotiable certificate issued by a US bank that represents shares of a foreign company, allowing them to trade on US stock exchanges. The decline followed Infosys' decision to trim the upper end of its FY27 revenue growth guidance to 3%, down from the earlier 3.5%. Although the company's consolidated revenue in rupee terms grew sequentially, outperforming the previous two quarters, profitability weakened. Consolidated net profit fell 9% quarter-on-quarter to Rs 7,769 crore in the June quarter from Rs 8,501 crore in the March quarter, marking its second-steepest sequential decline in the past eight quarters. On a year-on-year basis, however, net profit rose 12% from Rs 6,921 crore. Revenue from operations increased 14% year-on-year to Rs 48,211 crore in the June quarter, compared with Rs 42,279 crore in the corresponding period last year. Separately, the company's board approved the appointment of Ashiss Kumar Dash as CEO-designate. He is set to succeed the current leadership as Chief Executive Officer and Managing Director from April 2027.