Infosys, a leading consulting, technology, outsourcing and next-generation services provider, witnessed a fall in share price on Monday after the company has reduced the guidance for fiscal year ending March 2016. Now the company expects revenues to grow 10%-12% in constant currency and 6.4%-8.4% in USD terms.

Previously, the company forcasted revenue growth of 10%-12% in terms of constant currency and 7.2%-9.2% in USD terms.

Rajiv Bansal stepped down as chief financial officer (CFO) and key managerial personnel.

The company today reported a better-than-expected growth in consolidated net profit for the quarter ended Sep. 30, 2015.

For the quarter ended Sep. 30, 2015, net profit increased 9.8% to Rs 33.98 billion  as compared to Rs 30.96 billion in the same period last year. On sequential basis, the company registered a rise of 12.1% in the net profit.

According to the polls, market expected profit to come at Rs 32.44 billion.

Revenues for the current quarter increased to Rs 156.35 billion from Rs 133.42 billion for the quarter ended Sep. 30, 2014, representing an increase of 17.2%. On quarter-on-quarter basis, the company  showed an increment of 8.9% in the revenues.

Shares of Infosys are trading at Rs 1,139.40, down Rs 28.45, or 2.44% at the Bombay Stock Exchange (BSE) on Monday at 10:04 a.m.

Total volume of shares traded on the bourses today was higher by 26.62% to 5,160,686 compared with 22-day average volume of 4,075,568.