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Infosys cuts annual revenue growth target in Brexit precaution

An employee walks past a signage board in the Infosys campus at the Electronics City IT district in Bangalore, February 28, 2012.

Indian IT services giant Infosys Ltd (INFY.NS) (INFY.N) warned it won't make its previous revenue target for this fiscal year, cutting its outlook after first-quarter earnings came in below estimates and Britain's vote to exit the European Union left the company with little visibility on future business prospects.

Shares in Infosys, India's second-largest IT firm, slumped as much as 10 percent in Mumbai on Friday on the potential Brexit impact warning.

Infosys said it now expects revenue to grow between 10.5 percent and 12 percent in constant currency terms in the year ending March 31, 2017. It previously estimated growth of between 11.5 percent and 13.5 percent.

"As we look ahead...


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