Infosys Q4 net profit rises 17% YoY; announces Rs 9,200 crore buyback

Infosys on Wednesday reported 17.47% year-on-year growth in consolidated net profit at Rs 5,076 crore for the quarter ended March 31. It had posted a profit of Rs 4,321 crore in the same period last year. Revenue of the company increased 13% YoY to Rs 26,311 crore.

The information technology major also approved buyback of equity shares worth up to Rs 9,200 crore priced at Rs 1,750 per share, indicating a premium of 25.12% against the share price of Rs 1,398.60.

Operating profit increased by 30.70% YoY to Rs 6,440 crore during the quarter under review. The figure stood at Rs 4927 crore for the corresponding quarter last year.

Commenting on the financial results, Salil Parekh, CEO and MD, Infosys said, “We have crossed a milestone of Rs 100,000 crore in revenue in FY21. Our intense focus on client relevance, growing our digital portfolio with differentiated capabilities like Infosys CobaltTM, 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.”

“A strong momentum exiting FY21, alongside a focused strategy to accelerate client digital journeys, gives us confidence for a stronger FY22,” he added.

For the financial year 2022, Infosys sees revenue growth 12-14% in constant currency terms, while it gives operating margin guidance of 22%-24% for the next financial year.

“A strong momentum exiting FY21, alongside a focused strategy to accelerate client digital journeys, gives us confidence for a stronger FY22”, Parekh added.

Meanwhile, the company also announced a final dividend of Rs 15 per equity share for the financial year ended March 31, 2021.