Infosys March Quarter Net Profit Rises 13% To Rs 4,074 Crore

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    Infosys’ net profit in the January-March quarter rose 13 per cent to Rs 4,074 crore compared with Rs 3,609 crore in the October-December quarter, the company said in a regulatory filing on Friday. The net profit in March quarter surpassed Refinitiv Eikon’s estimate of Rs 3,956 crore according to news agency Reuters.

    Its revenue advanced 0.65 per cent to Rs 21,539 crore from Rs 21,400 crore sequentially, said the country’s second largest information technology company.

    The board of directors of the company also approved a final dividend of Rs 10.50 per share subject to approval of the shareholders.

    Infosys board of directors also granted performance based Restricted Stock Units (RSUs) amounting to Rs 13 crore for the financial year 2020 to Salil Parekh, CEO and Managing Director under the 2015 Stock Incentive Compensation Plan (2015 plan), Infosys said.

    Infosys revenue in dollar terms rose 2.4 per cent (QoQ) to $3,060 million and on the constant currency terms Infosys revenue grew 2.1 per cent sequentially.

    On the operational front, Infosys’ EBIT or operating profit came in at Rs 4,618 crore compared with Rs 4,379 crore in the December quarter.

    Commenting on the earnings Salil Parekh, CEO and MD of Infosys said: “We have completed the first year of our transformation journey with strong results on multiple dimensions including revenue growth, performance of our digital portfolio, large deal wins, and client metrics. This is a reflection of our increased client relevance stemming from our focus on digital, positioning, and longstanding client relationships.”

    “Our planned investments have started yielding benefits. As we look ahead into fiscal 2020, we plan to deploy various measures of operational efficiencies across the business,” Mr Parekh added.

    In the March quarter Infosys signed large deals worth $1.57 billion and for the financial year 2019 total large deals stood at $6.28 billion.

    “We had another quarter of over $1.5 bn large deal TCV in Q4, as a result of which FY 19 TCV doubled over FY 18. Realization per billed employee was steady which reflects increasing usage of automation in core services and faster growth in newer digital services”, said Pravin Rao, Infosys’ COO.

    For financial year 2019-20 Infosys guided for revenue growth in the range of 7.5-9.5 per cent in constant currency terms with operating margin guidance in range of 21-23 per cent.

    For the financial year 2018-19, Infosys net profit declined 3.89 per cent to Rs 15,404 crore from Rs 16,029 crore in financial year 2017-18.

    In FY19 revenue grew by 7.9 per cent dollar terms and 9 per cent in constant currency terms and operating margin came in at 22.8 per cent.

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