For the January-March quarter, Infosys' net profit grew 17.47% to Rs 5,076 crore.

 Infosys approves share buyback of Rs 9200 crore of upto Rs 1750 per share
Money IT Wednesday, April 14, 2021 - 17:45

Infosys on Wednesday announced that its Board has approved the company’s third share buyback of Rs 9,200 crore at a maximum of Rs 1,750 per share. This announcement came as the company reported its earnings for Q4 and full year of FY21.

For the January-March quarter (Q4), the company net profit grew by 17.47% at Rs 5,076 crore. This is up from Rs 4,321 crore it posted in Q4FY20. Sequentially, however, profit declined from Rs 5,197 crore in Q3, a decline of 2.3%. The company's FY21 net profit was up 16.6% to Rs 19,351 crore.

For Q4, the IT major's revenue grew 13.1% to Rs 26,311 crore from Rs 23,267 crore in the year-ago period. In constant currency terms, it grew by 9.6% year-on-year and 2% sequentially.

For the full year, Infosys reported a revenue of Rs 1,00,472 crore, a growth of 10.7%. In constant currency terms, it grew by 5% YoY for the full year.

For the next fiscal (FY22), Infosys expects a revenue growth of 12-14%. Operating margin guidance for FY22 is pegged at 22-24%.

“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,” said Salil Parekh in a statement.

For the operating margin, CFO Nilanjan said they factored in the second pay hike and also certain headwinds with travel and other overhead costs in the latter half of the year.

Infosys also recommended a dividend of Rs 15 per share, a premium of Rs 25% from its last closing of Rs 1,398 on the Bombay Stock Exchange. This is pending shareholder approval.

In Q4, Infosys signed deals worth $2.1 billion in the last quarter and worth $14.1 bn for the full year.

"Large deal TCV (Total contract value) for FY21 peaked to an all-time high of USD 14.1 billion, with 66 per cent being net new. Operating margin for the year expanded by 3.2 per cent and Free Cash Flows increased by 44.4 per cent,” Infosys added.

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