Infosys net profit rose to Rs 3,690 crore in the last quarter of FY2018 from Rs 3,603 crore in the year-ago period—a rise of 2.4%.
Revenues of India’s second largest software service exporter rose 5.6% to Rs 18,083 crore from Rs 17,121 crore in the year-ago period. Revenues for the financial year ended 31 March rose 3% year-on-year to Rs 70,522 crore from Rs 68,484 crore, while net profit rose 11.7% to Rs 16,029 crore from Rs 14,353 crore.
The full quarter under new chief executive officer Salil Parekh saw operating profit increasing to Rs 4,472 crore for the quarter—a YoY growth of 6.2%. The company also said it expects revenues to grow 6%-8% in constant currency, for year ending March 31, 2019.
Parekh said he was “pleased with our healthy revenue growth, profitability, and cash generation in Q4”. “Our robust performance is a reflection of the strong impact we have with our clients and the dedication of our employees,” he said in a statement. “We will execute our strategy around the four pillars of scaling our agile digital business which is today US$2.79 billion in revenue; energizing our client’s core technology landscape via AI and automation; re-skilling our employees; and expanding our localization in markets such as US, Europe, and Australia.”
The Infosys board has recommended a final dividend of Rs 20.50 per share and a special dividend of Rs 10 per share.
The firm has initiated the identification and evaluation of potential buyers for its subsidiaries, e-commerce startup Skava and Panaya—both acquired under the regime of Vishal Sikka in 2015. The company expects to complete the sale by March 2019.
The statement added that Infosys has agreed to buy US-based digital creative and consumer insights agency WongDoody Holding Company.
Infosys shares rose 0.58% to Rs 1,169 on the Bombay Stock Exchange on Friday.
Leave a Comment
Your email address will not be published. Required field are marked*