Information technology (IT) services Bellwether Infosys on Wednesday posted 17.47% year-over-year (YoY) growth in net income to Rs 5,076 crore for the March quarter of fiscal year 2020-21 (Q4FY21 ) against Rs 4,321 crore posted during the same period last fiscal year.
Sequentially, however, the figure fell 2.32 percent from rupee 5,197 crore released in the December quarter of fiscal 21.
Revenues for the quarter under review, meanwhile, stood at Rs 26,311 crore, up 13.08 percent year-on-year and 1.5 percent quarter-on-quarter. The same figure was Rs 23,267 crore at T4FY20 and Rs 25,927 crore at T3FY21.
Revenue in terms of CC (constant currency) grew 9.6% year-on-year and 2.0% T / T. In dollar terms, the company reported revenue of 3,613 million. dollars, up 13% year-on-year. Digital revenues for the quarter under review were 51.5 percent of total revenues, CC growth of 34.4 percent year-on-year.
Source: Infosys financial statement
“We crossed a turnover milestone of Rs 100,000 crore in fiscal year 21. Our intense focus on customer relevance, growth of our digital portfolio with differentiated capabilities like Infosys CobaltTM and empowerment of employees have helped us become a preferred “partner of choice” for our global customers. Our record contract won testifies to the effectiveness of this approach, ”said Salil Parekh, CEO and CEO, in a press release.
The company met analysts’ expectations of a 14-23% year-over-year increase in net profit for the March quarter and 13-14.5% revenue growth (in rupees). READ HERE
In addition, IT Bellwether’s operating profit in the March quarter increased 30.7 percent year-on-year to Rs 6,440 crore from Rs 4,927 crore in the same period last year. exercise. Meanwhile, on a quarterly basis, it slipped 2.3% from Rs 6,589 crore released in the December 2020 quarter.
The operating margin for the March quarter was 24.5%, an increase of 3.4% year-on-year and a decrease of 0.9% year-on-year.
For the year as a whole, Infosys recorded a 5% growth in CCs. The TCV (Total Contract Value) for major transactions for FY21 hit an all-time high of $ 14.1 billion, of which 66% was net new amounts. The operating margin for the year increased by 3.2%.
He also recommended a final dividend of Rs 15 per share for FY21. With the interim dividend of Rs 12 per share already paid, the total dividend paid by the company for FY21 will amount to Rs 27 per share.
For FY22, Infosys expects revenue growth of 12-14 percent in terms of CC, while it posted an operating margin forecast of 22-24 percent for the next fiscal year, as expected.
“Strong momentum at the release of FY21, coupled with a targeted strategy to accelerate digital customer journeys, gives us confidence for a stronger FY22,” added Parekh.
The board of directors of the company has approved a share buyback program worth up to Rs 9,200 crore at a price of Rs 1,750 per share, a premium of 25.12% over the closing price of the company. BSE share, Rs 1,398.60 per share, as on Tuesday.
The company’s shares closed at Rs 1,398.60 on BSE, down 1.91 percent. The stock market was closed for a holiday on Wednesday due to Dr Baba Saheb Ambedkar Jayanti.