Infosys Q4 profit rises 2.4%, announces ₹10 per share dividend

Net profit for Infosys rose to ₹36.90 billion ($565.78 million) in the three months ended March 31, from ₹36.03 billion in the same period a year earlier.

The country’s second-largest software services major Infosys today reported 2.4% growth in consolidated net profit at ₹3,690 crore for the quarter ended on March 31, 2018.

Infosys’s revenue from operations rose 5.6% to ₹180.83 billion in the quarter ended March 31. (Reuters File Photo)

It had posted a net profit of ₹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 ₹18,083 crore in the January-March quarter compared with ₹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 ₹16,029 crore, while revenues grew 3% to ₹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.

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 ₹13,000 crore to be paid to shareholders,” it added.

This will be done through a special dividend of ₹10 per share (resulting in a payout of about ₹2,600 crore in June 2018). Also, an amount of up to ₹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.