The employee attrition shot up to 21 per cent, from previous levels of about 17 per cent during the March quarter. "The basic thing is that the revenue performance in the quarter was below what was expected," Sikka told ET, explaining the rationale to lower the revenue forecast. "That brought down the entire performance," Sikka said.For the June quarter, Infosys posted net profit of $511million, compared with $476 million in the year-ago period.Revenue grew 10.9 per cent to $2.5 billion, falling short of average expectations. "Ever since Vishal took over the reins at Infosys we suggested that the road to recovery would be a bumpy one, and today's announcement is another proof of that. The suggestion of a lack of discretionary spend appears to indicate that more work needs to be done to balance the sales strategy.

Source: Economic Times July 15, 2016 19:09 UTC