Infosys profit up 17% at Rs5,076 cr

Bengaluru, April 15

IT bellwether Infosys on Wednesday posted a 17.47% year-on-year (YoY) growth in net profit at Rs 5,076 crore for the March quarter of 2020-21 fiscal as against Rs 4,321 crore posted in the same period last fiscal.

However, the profit dipped by 2.32% from Rs 5,197 crore posted in the December quarter of FY21.

The revenue for the quarter under review stood at Rs 26,311 crore, up 13.08% YoY. The same figure stood at Rs 23,267 crore in Q4FY20 and Rs 25,927 crore in Q3FY21.

To purchase shares at 25% premium

• The company will buy back shares at Rs1,750 per share, a premium of 25.12% over its closing price of Rs1,398 as on Tuesday
• The company also announced a dividend of Rs15 per share
• Though the company’s year-on-year profit posted a 17.47% growth, it dipped by 2.32% from Rs5,197 crore posted in the December quarter

The revenue in constant currency terms grew by 9.6% YoY and 2% QoQ. In dollar terms, the company reported revenue at $3,613 million, a growth of 13% YoY. The digital revenue for the quarter under review stood at 51.5% of the total revenue, a growth of 34.4% YoY.

“We have crossed a milestone of Rs 100,000 crore in revenue in FY21. Our intense focus on client relevance, growing our digital portfolio with differentiated capabilities such as Infosys CobaltTM, and empowering employees have helped us emerge as a preferred ‘partner-of-choice’ for our global clients. Our record large deal wins stand testimony to the effectiveness of this approach,” said Salil Parekh, CEO and MD, Infosys.

The company’s operating profit in the March quarter rose 30.7% YoY to Rs 6,440 crore as against Rs 4,927 crore in the same period last fiscal. Meanwhile, on a quarterly basis, it slipped by 2.3% from Rs 6,589 crore posted in the December 2020 quarter.

It also recommended a final dividend of Rs 15 per share for FY21. Together with the interim dividend of Rs 12 per share already paid, the total dividend paid by the company for FY21 will amount to Rs 27 per share.

The company Board also approved share buyback programme worth up to Rs 9,200 crore priced at Rs 1,750 per share, a premium of 25.12% over the stock’s closing price on the BSE, of Rs 1,398.60 per share, as on Tuesday. — Agencies