Infosys Ltd. announced today that its board of directors will meet on April 12 and 13 to recommend a final dividend for the current fiscal year (FY22).
The audited consolidated and standalone financial results of the company for the quarter and year ending March 31, 2022, will also be approved and recorded by the board. On April 13, 2022, the company will hold an analyst call to discuss the company’s financial results and future business prospects.
On the NSE on Tuesday, Infosys shares closed nearly 3% lower at 1,838 per share. Between January and March, IT stocks were heavily weighed down by FII selling due to high valuations and a volatile geopolitical environment.
Infosys indicated a consolidated net profit of 5,809 crore for the third quarter, up from 5,197 crore in the same period last year. Meanwhile, its revenue from operations increased by 23% to 31,867 crore in the December quarter. The company raised its revenue guidance for FY22 to 19.5 percent -20 percent, owing to a sequential growth of 7 percent in Q3.
With the severity of the COVID-19 pandemic waning, offices and office spaces are reopening and rehiring employees who had accepted the work-from-home norm as a new professional lifestyle.
While many companies, including IT firms, are calling their employees on a hybrid work from office basis, which means coming to the office location only on some days a week and working from home on the remaining days, some companies are adamant about returning to the norm, which means calling their employees back to offices on a full-time, everyday basis. Narayana Murthy, the founder of IT behemoth Infosys, is one such key personality who believes strongly in work-from-home culture.
Murthy stated at a DH summit on Friday that he wasn’t a big fan of the work-from-home culture, citing the practice’s impact on company culture, according to a DH report.