Dividend
The company also bought back shares worth Rs 1,546 crore out of total buyback size of Rs 8,260 crore since March 20 after receiving regulatory approvals.
  • Saturday, April 13, 2019 - 10:00

Global software Infosys board on Friday recommended a final dividend of 210 per cent or Rs 10.50 per share of Rs 5 face value.

In a regulatory filing on the BSE, the IT behemoth said with an interim dividend of 140 per cent Rs 7 per share, the total dividend for the fiscal 2018-19 is 350 per cent or Rs 17.50 per share.

The company also bought back shares worth Rs 1,546 crore out of total buyback size of Rs 8,260 crore since March 20 after receiving regulatory approvals.

"Our planned investments have started yielding benefits. As we look ahead into fiscal 2020, we plan to deploy various measures of operational efficiencies across businesses," said Salil Parekh, CEO of Infosys.

For the first time in many years Infosys net profit went up in the fourth quarter but declined yearly for the fiscal 2018-19 owing to non-operational reasons, said the company on Friday.

The Bengaluru-based IT behemoth reported Rs 4,074-crore consolidated net profit for the fourth quarter (Q4) of fiscal 2018-19, registering 10.4 per cent annual and 12.9 per cent quarterly growth.

For the fiscal 2018-19, net profit, however, declined 3.9 per cent annually to Rs 15,404 crore from Rs 16,029 crore in the previous fiscal 2017-18.

Under the International Financial Reporting Standards (IFRS), consolidated net income declined 11.6 per cent annually to $2,199 million for FY 2019 from Rs $2,486 million a year ago.

"The annual net profit declined due to Rs 88-crore ($12-million) additional depreciation and amortisation expenses on de-classification of Panaya and Skava subsidiaries from assets held for sale," said the firm in a statement.

The $18-million reduction in fair value of Panaya in the fourth quarter of fiscal 2017-18 and $39 million for the fiscal 2018-19 and $65-million in the value of Skava during the same period have also led to decline in annual net profit.

Consolidated revenue for the quarter grew 19.1 per cent annually to Rs 21,539 crore but was flat (0.6 per cent) quarterly.

Under the IFRS, net income for the quarter increased 1.6 per cent year-on-year (YoY) to $580 million, which is 15.5 per cent up quarterly.

Gross income for the quarter under IFRS grew 9.1 per cent YoY to $3,060 million, which is 2.4 per cent up quarterly.

Consolidated revenue for the fiscal, however, grew 17.2 per cent annually to Rs 82,675 crore from Rs 70,522 crore in the previous fiscal (2017-18).

Gross income for the fiscal under IFRS grew 7.9 per cent annually to $11,799 from $10,989 million a year ago.

The company projected 7.5-9.5 per cent revenue guidance for the fiscal 2019-20 in constant currency in dollar terms.

The company added 101 clients for the quarter, taking its total to 1,279 by March 31 from 1,251 a quarter ago and 1,204 a year ago.

As many as 11,587 techies left during the quarter, resulting its attrition going up to 18.3 per cent from 17.5 per cent a quarter ago and 16.6 per cent a year ago.

The company admitted that overall attrition remained high despite its focus on arresting it.

With a net addition of 2,622 new employees during the quarter), the company's headcount increased to 2,28,123 from 2,25,501 a quarter ago and 2,04,107 a year ago.

"We completed the first year of its transformation journey with strong results on multiple dimensions, including revenue growth, performance of digital portfolio, large deal wins and client metrics," said Salil Parekh in the statement.