India's second-largest software services company Infosys on Wednesday posted 12 per cent year-on-year rise in consolidated net profit at Rs 5,686 crore for March quarter 2021-22. The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,076 crore in the corresponding period previous year, according to a regulatory filing.
Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period, it added. The IT services giant has pegged revenue growth outlook at 13-15 per cent for 2022-23. In last fiscal year, Infosys' net profit was up 14.3 per cent to Rs 22,110 crore, while revenue was higher 21 per cent to Rs 1,21,641 crore compared to the previous fiscal year.
"We continue to gain market share as a result of sustained clients' confidence in our ability to successfully navigate their digital journeys," Salil Parekh, CEO and MD of Infosys, said in a statement. “With the acceleration of digital disruptions across industries, we see immense potential to engage and partner with clients as they transform, adapt and thrive. We will scale talent globally, invest in employees and accelerate innovation and digital capabilities to capitalize on the expanding market opportunity”, he added.
For 2021-22, Infosys board has recommended a final dividend of Rs 16 per share. With this, the company has announced total dividend of approximately Rs 13,000 crore for FY22.
"With a robust demand environment ahead, we envisage making appropriate long-term investments in capability building across sales, delivery and innovation. However, we plan to neutralize some of the impact through aggressive cost optimization programs and value-led pricing driven by service and brand differentiation. This, along with post-pandemic normalization of expenses, is reflected in the margin guidance," Nilanjan Roy, Chief Financial Officer said.