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Exclusive: Infosys announces INR 9,200 crore share buyback, Raised 17.5% rise in net profit in March

On Wednesday, one of India’s largest Information technology companies reported around 17.1% rise in net profit by each year at INR 5,078 crores, which is before minority interest for the quarter ended in March 2021. 

It recently posted INR 4,321 crores net profit hike in the same quarter last year. As a whole, it came out to be at INR 9,147 crores. 

March 2021, the revenue grew around 13.1% which is INR 26,311 crores, stated in the regulatory filing. With year-on-year, the revenue grew in terms by 9.6%.

On the matter, Chief Financial Officer, Nilanjan Roy said- “FY21 was a landmark year with superior shareholders returns backed by robust operating metrics and strong growth across revenue, margins, and free cash flows. Moreover, executing on our capital allocation policy, the firm proposes to raise the total dividend per share by 54% over the previous year and Buyback of equity shares of up to INR 9,200 crores”. 

Back in December 2017, Infosys completed its first buyback of around INR 13,000 crores. The buyback comprises 11.3 crore equity shares which were at a price of INR 1,150 per share. Later in 2019, it initiated a buyback again of 11.05 crore shares under its INR 8,260 crore offer, at an average price of INR 747.38 per equity share. 

While expressing the excitement and happiness, Salil Parekh, CEO and managing director of Infosys said- “I am very pleased with our performance this year and incredibly proud of our employees for the passion and commitment they displayed despite a very tough environment. We have crossed a milestone of ₹100,000 crores 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”. 

Update- Infosys net profit rises 17.5% to ₹5,076 crores in March quarter

On April 14 posted a 17.5% rise in net profit to INR 5,076 crores for the March quarter. 

Moreover, the Bengaluru-based IT firm revenue is growing immensely. The firm’s FY21 net profit was up 16.6% to INR 19,351 crores, while revenue was higher by 10.7% to INR 1,00,472 cores as compared to the earlier fiscal year. 

Also, the company has expectations to grow revenue to FY22 12 to 14% in constant currency. The board has approved a capital return of INR 15,600 crores. It involves a final dividend of INR 6,400 crores and open market buyback shares of 9,200 crores, stated. 

Infosys said- “Large deal TCV for FY21 peaked to an all-time high of USD 14.1 billion, with 66% being net new. Operating margin for the year expanded by 3.2% and Free Cash Flows increased by 44.4%”. 

Lastly, the board finalized a final dividend of INR 15 per equity share for the financial year, ending March 31, 2021. 

Note: This news is based on millions of articles over the internet, Global Business Line does not take any responsibility for the facts and information mentioned in this news article.

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