Infosys Q4 profits up by 17% to Rs 5,076 crore; approves share buyback program worth up to Rs 9,200 crore
Infosys maintained its revenue growth guidance in constant currency at 12 to 14 percent for the financial year 2021-22 and consolidated revenue from operations grew by 1.5 percent sequentially to Rs 26,311 crore…
India’s second-largest IT services company – Infosys, has reported a 17.47 per cent year-on-year growth in net profit at Rs 5,076 crore for the quarter ended March 2021 (Q4 FY21) against Rs 4,321 crore in the year-ago period, reported ANI.
The consolidated revenue from operations grew by 1.5 percent sequentially to Rs 26,311 crore, up 13.08 per cent against Rs 23,267 crore in Q4 FY20.
According to the ANI report, the company’s board approved a share buyback program worth up to Rs 9,200 crore priced at Rs 1,750 per share. It also recommended a final dividend of Rs 15 per share for FY21.
It recommended the capital return of Rs 15,600 crore including a final dividend of Rs 6,400 crore and open market buyback of shares of Rs 9,200 crore.
Infosys maintained its revenue growth guidance in constant currency at 12 to 14 per cent for the financial year 2021-22.
The ANI report quoted the CEO and Managing Director, Salil Parekh said, “I am very pleased with our performance this year and incredibly proud of our employees for the passion and commitment they displayed despite a very tough environment. We have crossed a milestone of Rs 100,000 crore in revenue in FY21.”
“Our intense focus on client relevance, growing our digital portfolio with differentiated capabilities like Infosys Cobalt, and empowering employees have helped us emerge as a preferred ‘partner-of-choice’ for our global clients. Our record large deal wins stand testimony to the effectiveness of this approach,” he said.
The Chief Operating Officer of Infosys, Pravin Rao emphasized that despite the disruptions, the company continues to execute seamlessly with broad-based momentum across verticals.
“This has led to healthy volume growth and record utilisation in a seasonally soft quarter”, said Rao, quoted by ANI.
Meanwhile, Chief Financial Officer Nilanjan Roy added that FY21 was a landmark year backed by robust operating metrics and strong growth across revenue, margins and free cash flows.
“Executing on our capital allocation policy, the company proposes to increase the total dividend per share by 54 per cent over the previous year and buyback of equity shares of up to Rs 9,200 crore,” he added.