Infosys Q3 profit dips 30% to Rs 3,610 crore

To buy back shares worth Rs 8,260 cr

New Delhi, January 11 

The country second largest IT firm, Infosys, today reported 29.62% decline in consolidated net profit at Rs 3,610 crore for December quarter as compared to Rs 5,129-crore profit in the corresponding quarter last year, the company said in a BSE filing. 

Net sales for the quarter jumped 20.3% to Rs 21,400 crore. On a sequential basis, sales grew 3.8% in rupee terms. Sales were up 2.7% QoQ in constant currency terms. 

The company announced a share buyback under open market route of Rs 8,260 crore at a maximum price of Rs 800 per share. It also announced a special dividend of Rs 4 per share.

The company revised its FY19 revenue guidance in constant currency terms to 8.5-9%. The guidance for operating margin is retained at 22-24%.

“With increased client relevance, we saw double-digit (10.1%) year-on-year growth in Q3 on a constant currency basis,” said Salil Parekh, CEO and MD. “We also had another strong quarter in our digital business with 33.1% growth and large deals at $1.57 billion which gives us confidence entering 2019”, he added. — Agencies

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