Infosys net profit rises 17.5 pc to Rs 5,076 crore in March qtr; announces Rs 9,200 cr buyback offer

Team Udayavani, Apr 14, 2021, 5:15 PM IST

New Delhi: IT services major Infosys on Wednesday posted a 17.5 per cent rise in net profit to Rs 5,076 crore for the March quarter, and announced up to Rs 9,200 crore buyback offer at a maximum price of Rs 1,750 per share.

The Bengaluru-based company’s net profit (after minority interest) was Rs 4,321 crore in the January-March 2020 quarter.

Its revenue grew 13.1 per cent to Rs 26,311 crore in the March 2021 quarter from Rs 23,267 crore in the year-ago period, Infosys said in a regulatory filing.

The company’s FY21 net profit was up 16.6 per cent to Rs 19,351 crore, while revenue was higher by 10.7 per cent to Rs 1,00,472 crore compared to the previous fiscal.

Infosys expects FY22 revenue to grow 12-14 per cent in constant currency.

The Board has recommended a 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.

“Large deal TCV 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.

The Board has recommended a final dividend of Rs 15 per equity share for the financial year ended March 31, 2021.