India's second-largest IT-services company, Infosys has reported a lower than expected net profit during the second quarter of the year.

Infosys decided to keep its yearly guidance unchanged as it indicated that the global economic uncertainties were continuing to trouble the company. The weak performance in the second quarter is also being seen as a reason to keep the outlook unchanged.

The company's net profit rose 24 per cent to 23.69 billion rupees from 19.06 billion rupees a year earlier. The figure was lower than 23.71 billion rupee estimated in a Dow Jones Newswires poll. Consolidated revenue rose nearly 22% from a year earlier to 98.58 billion rupees against an expectation of 99.51 billion rupees for the quarter.

Following the shocking results and gloomy remarks, the shares of the company fell as much as 8.5 per cent during the morning trade on the Bombay Stock Exchange (BSE). The shares recovered to trade 5.2 lower at Rs. 2,401 at the time of reporting.

Some of losses were recovered after Infosys announced that the outlook does not consider contributions from a Swiss consulting company that was acquired by Infosys recently. Investors believed that the outlook might get a boost by the acquired company.

Chief Financial Officer V. Balakrishnan pointed out that Infosys has not completed the acquisition of Lodestone Holding AG and the company might include it in its next guidance in January 2013.