Infosys Q4 profit rises 2.4%, announces Rs 10 per share dividend
Net profit for Infosys rose to Rs 36.90 billion ($565.78 million) in the three months ended March 31, from Rs 36.03 billion in the same period a year earlier.business Updated: Apr 13, 2018 18:27 IST
The country’s second-largest software services major Infosys today reported 2.4% growth in consolidated net profit at Rs 3,690 crore for the quarter ended on March 31, 2018.
It had posted a net profit of Rs 3,603 crore in the year-ago period, according to IFRS accounting norms, Infosys said in a BSE filing.
Revenues of the Bengaluru-based firm grew 5.6% to Rs 18,083 crore in the January-March quarter compared with Rs 17,120 crore in the year-ago period.
Infosys said it expects revenue for 2018-19 to grow in the range of 6-8% in constant currency terms and 7-9% in US dollar terms.
For the full fiscal 2017-18, profit was up 11.7% at Rs 16,029 crore, while revenues grew 3% to Rs 70,522 crore over the previous year.
“I am pleased with our healthy revenue growth, profitability, and cash generation in Q4. Our robust performance is a reflection of the strong impact we have with our clients and the dedication of our employees,” Infosys CEO Salil Parekh said.
He added that the company will execute its strategy around the four pillars -- scaling digital business ($ 2.79 billion in revenue currently), energizing client’s core technology landscape via AI and automation, re-skilling employees, and expanding localisation in markets like US, Europe, and Australia.
Infosys COO Pravin Rao said the company will be rolling out compensation increases for a large part of its workforce, effective April 1.
The Infosys Board in its meeting today decided to retain the current policy of returning up to 70% of the free cash flow of the corresponding financial year.
“In addition to the above, out of the cash on the Balance Sheet, the Board has identified an amount of up to Rs 13,000 crore to be paid to shareholders,” it added.
This will be done through a special dividend of Rs 10 per share (resulting in a payout of about Rs 2,600 crore in June 2018). Also, an amount of up to Rs 10,400 crore has been identified to be paid out to shareholders for the Financial Year 2019 in a manner to be decided by the Board.