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Infosys Q4 net profit at Rs 5,076 crore; board approves share buyback at Rs 1,750 apiece

Infosys Q4 results: Infosys, the country's second-largest IT company, approved share buyback of up to Rs 9,200 crore at Rs 1,750 per share.

By: Express Web Desk | New Delhi |
Updated: April 14, 2021 6:12:31 pm
infosys, infosys news, infosys sharesThe logo of Infosys is pictured inside the company's headquarters in Bengaluru (Image: REUTERS)

IT services giant Infosys on Wednesday reported a 17.5 per cent year-on-year rise in its consolidated net profit (after minority interest) at Rs 5,076 crore for the fourth quarter ended March (Q4). The country’s second-largest IT company also approved share buyback of up to Rs 9,200 crore at Rs 1,750 per share.

The net profit was however 2.3 per cent lower from the previous quarter. Infosys had posted a net profit of Rs 4,321 crore in the corresponding period a year ago, while the net profit in the previous quarter ended December (Q3) was at Rs 5,197 crore, according to the company’s financial statements filed with the National Stock Exchange (NSE).

The Q4 gross profit stood at Rs 9,147 crore, up 17.8 per cent on-year, while the consolidated revenue grew 13.1 per cent to Rs 26,311 crore, according to the data.

The net profit for the financial year 2020-21 (FY21) rose 16.6 per cent on-year to Rs 19,351 crore, while revenue during the year inched up 10.7 per cent to Rs 1,00,472 crore.

Giving an outlook for FY22, Infosys gave a revenue growth guidance of 12-14 per cent in constant currency while the operating margin guidance was 22-24 per cent.

Share buyback plan

The company’s board of directors approved share buyback of up to Rs 9,200 crore at Rs 1,750 per share.

At Rs 1,750 apiece it is at a premium of around 25 per cent from the previous close. On Tuesday, the shares of Infosys settled had at Rs 1,398.60 apiece on the BSE and at Rs 1,402.85 per share on the NSE.

Dividend

The board of directors also recommended a final dividend of Rs 15 per share for FY21. The dividend will be paid on June 25, 2021 and the record date for the purpose of the payment of final dividend is June 1, 2021, the company informed in an exchange filing.

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