Bangalore: Infosys, India’s second largest software services firm, fell short of expectations in its fourth quarter overall as the numbers for the current fiscal year, stating the revenue growth and guidance,  floored below the industry average. Asked about the fall, the company claimed the economic climate is the prime cause for concern, reports livemint.

Infosys predicted a revenue growth at 6 to 10 percent in 2013-14, but the things have gone the other way round as the stock plummeted 18.5 percent. For two consecutive years Infosys has forecasted revenue growth lower than the overall average industry expectations.

“Global economic uncertainties remain challenging for the IT industry,” said S. D. Shibulal, CEO and MD of Infosys, as quoted in livemint.

According to the company, a final dividend of 27 per share was expected.

Analysts expected that the Bangalore-based company would shoot up a post quarterly net profit of 2305 crore on revenue of 10,703, but eventually disappointed.

Infosys also drastically fell short when compared that of U.S. based rival Cognizant Technology Solutions, whose revenue marched up to 17 percent for fiscal 2013 and is regarded as the front runner.

Another notable descend for Infosys was in the annual guidance, as the company fell short 5 percent.

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