Home Market Infosys Q4 profit grows 11% YoY to Rs 4,078 crore, beats Street...

Infosys Q4 profit grows 11% YoY to Rs 4,078 crore, beats Street estimates

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NEW DELHI: Indias second largest IT firm Infosys on Friday reported a 10.51 per cent year-on-year (YoY) rise in consolidated profit at Rs 4,078 crore for March quarter, beating Rs 3,957 crore net estimated by analysts in an ET NOW poll.

The Bengaluru-based technology major had posted Rs 3,690 crore profit in the same quarter a year ago.

Net sales for the quarter climbed 19.1 per cent to Rs 21,539 crore from Rs 18,083 crore in the corresponding quarter last year. ET NOW poll had predicted sales at Rs 21,465 crore.

Sales in dollar terms jumped 9.1 per cent YoY to $3.06 billion. In constant currency terms, growth stood at 11.7 per cent for the fourth quarter.

The Salil Parekh-led firm has guided for 7.5-9.5 per cent growth in revenues for FY20 in constant currency terms. It has guided for 21-23 per cent operating margin for the financial year.

The figure came at 21.40 per cent in Q4FY19 against ETNow poll of 22.20 per cent. EBIT margin stood at 22.60 per cent in Q3FY19.

The board of the company recommended a final dividend of Rs 10.50 per share for the financial year ended March 31.

The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting which is scheduled to be held on June 22, 2019.

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“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 long standing client relationships”, said Salil PRead More – Source