Infosys Q4 net rises 17.5% to ₹5,076 cr

ITS REVENUE GREW 13.1% TO ₹26,311 CRORE IN THE MARCH 2021 QUARTER FROM ₹23,267 CRORE IN THE YEAR-AGO PERIOD

IT services major Infosys on Wednesday posted a 17.5% rise in net profit to ₹5,076 crore for the March quarter, and announced up to ₹9,200 crore buyback offer at a maximum price of ₹1,750 per share.

The Bengaluru-based company’s net profit (after minority interest) was ₹4,321 crore in the January-March 2020 quarter.

Its revenue grew 13.1% to ₹26,311 crore in the March 2021 quarter from ₹23,267 crore in the year- ago period, Infosys said in a regulatory filing.

The company’s FY21 net profit was up 16.6% to ₹19,351 crore, while revenue was higher by 10.7% to ₹ 1,00,472 crore compared to the previous fiscal.

Infosys expects FY22 revenue to grow 12-14% in constant currency.

The Board has recommended a capital return of ₹15,600 crore, including a final dividend of ₹6,400 crore and open market buyback of shares of ₹9,200 crore, the IT services giant said.

“Large deal TCV for FY21 peaked to an all-time high of $14.1 billion, with 66% being net new. Operating margin for the year expanded by 3.2% and Free Cash Flows increased by 44.4%,” Infosys added in the regulatory filing.

The Board has recommended a final dividend of ₹ 15 per equity share for the financial year ended March 31, 2021.