Infosys Q4 net profit rises 2.5%

Bengaluru, April 13: Infosys on Friday reported a 2.4 per cent rise in the March quarter net profit and projected better revenues in FY19 as it focuses on digital business and increasing localisation in key markets like the US and Europe.

Eight-months into the job, Nandan Nilekani decided to shed Panaya, the Israeli firm whose $200 million acquisition had become a bone of contention between the former management led by Vishal Sikka and highprofile founders like N.R. Narayana Murthy.

Also, the Board will pay up to `13,000 crore to shareholders including `2,600 crore through special dividend. Other routes will be decided later for the remaining `10,400 crore, as the company looks to meet shareholder demands for higher returns.

Infosys will also continue with its policy of returning up to 70 per cent of its free cash.

Infosys on Friday reported a consolidated net profit of `3,690 crore, or `16.98 per share, in January-March 2018 quarter as compared to `3,603 crore, or `15.77 a share in the same period a year back.

The consolidated net profit for the March quarter and FY18 includes the impact of Infosys’ Advance Pricing Agreement with the US IRS, it said.

This is the first full quarter under the new CEO Salil Parekh since he joined in January this year.