Industry

Infosys net profit rises 17.5% to ₹5,076 crore in March quarter

FY21 net profit of Infosys was up 16.6% to ₹19,351 crore. File   | Photo Credit: Reuters

IT services major Infosys on April 14 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, it said.

“Large deal TCV for FY21 peaked to an all-time high of USD 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.

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

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Printable version | May 18, 2021 7:21:23 AM | https://www.thehindu.com/business/Industry/infosys-net-profit-rises-175-to-5076-crore-in-march-quarter/article34318850.ece

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