Infosys Q4 PAT up 17 pc to Rs 5,076 cr, announces Rs 9,200 cr buyback
Apr 14, 2021
Bengaluru (Karnataka) [India], Apr 14 : Bluechip digital transformation major Infosys on Wednesday posted 17.47 per cent year-on-year growth in net profit at Rs 5,076 crore for January to March quarter of 2020-21 (Q4 FY21) as against Rs 4,321 crore in the year-ago period.
The revenue came in at Rs 26,311 crore, up 13.08 per cent against Rs 23,267 crore in Q4 FY20.
Significantly, 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.
"The board has 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," it said in a statement.
The country's second-largest IT services company maintained its revenue growth guidance in constant currency at 12 to 14 per cent for financial year 2021-22.
"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, CEO and Managing Director.
"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.
Chief Operating Officer Pravin Rao said 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."
Chief Financial Officer Nilanjan Roy said FY21 was a landmark year with superior shareholder returns 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 previous year and buyback of equity shares of up to Rs 9,200 crore," he added.
