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Infosys Q4 profit rises 17.5%; announces Rs 9,200 crore share buyback

NEW DELHI: India’s software services company Infosys posted a 17.5% jump in quarterly net profit on Wednesday, lifted by large contract wins as the Covid-19 pandemic drove digitisation efforts in multiple sectors.
Bengaluru-based Infosys said its consolidated net profit climbed to Rs 5,076 crore in the three months to March 31, from Rs 4,321 crore a year earlier.
Revenue for the quarter rose to Rs 26,311 crore from Rs 23,267 crore.
The company’s FY21 (2020-21) net profit was up 16.6% to Rs 19,351 crore, while revenue was higher by 10.7% to Rs 1,00,472 crore compared to the previous fiscal.
“We have crossed a milestone of Rs 1,00,000 crore in revenue in FY21. Our intense focus on client relevance, growing our digital portfolio with differentiated capabilities like Infosys Cobalt, 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,” said Salil Parekh, Infosys CEO and MD.
Infosys expects FY22 revenue to grow 12-14% 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 share buyback of Rs 9,200 crore at Rs 1,750 apiece, it said.
“Large deal TCV (total contract value) for FY21 peaked to an all-time high of $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%,” Infosys added.
The board has recommended a final dividend of Rs 15 per equity share for the financial year ended March 31, 2021.
(With inputs from agencies)

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