The Net profit of the company fell 4.7 per cent on a sequential basis to Rs 3,097 crore and revenue dropped 2.8 per cent to Rs 13,411 crore in the quarter ended March 2015.

Infosys Managing Director and CEO Vishal Sikka said: “We see the industry going through a fundamental and structural transition. Despite being a challenging quarter, I am encouraged by the early successes in executing our Renew-New strategy, on a foundation of learning.”

“Services growth in the fourth quarter was lower than we expected, though we saw healthy growth in Finacle and our Edge suite,” Infosys COO U B Pravin Rao said.

“Pricing continues to be under pressure due to increasing commoditisation in the traditional outsourcing business, requiring us to ramp up productivity through automation, and enhance our differentiation in large engagements,” he added.

“But we are well placed to pursue healthy overall growth in the new fiscal year,” he said.