Business

Infosys will pay Rs 13,000 cr as dividend to shareholders; Q4 profit falls 2.8%

India's second-largest software exporter Infosys on Thursday posted a consolidated net profit of Rs 3,603 crore for the January-March quarter of FY17.

The company had posted a consolidated net profit of Rs 3,708 crore in the October-December quarter of FY17.

While profit rose marginally year-on-year to Rs 3,603 crore, the firm's revenue increased 3.44 per cent year-on-year (YoY) to Rs 17,120 crore. However, consolidated revenue of the company declined 0.89 per cent quarter-on-quarter (QoQ) compared with Rs 17,273 crore in the previous quarter.
 
The IT major will also pay up Rs 13,000 crore as dividend/share buyback - 20 per cent net worth of Infosys. The board announced dividend of Rs 14.75 per share.

The company expects its 2017-18 revenue to grow between 6.1 per cent and 8.1 per cent in dollar terms and 6.5-8.5 per cent in constant currency terms.

On a sequential basis, Infosys' net profit fell 2.8 per cent while revenue declined 0.9 per cent.
Infosys CEO Vishal Sikka said, "Unanticipated execution challenges and distractions in a seasonally soft quarter affected our overall performance."

He added: "Looking ahead, it is imperative that we increase our resilience to the dynamics of our environment and we remain resolute in executing our strategy, path to transform Infosys and drive long term value for all stakeholders."

In US dollars, Infosys net profit was up 1.8 per cent at $543 million for the March quarter while revenue grew 5 per cent to USD 2.5 billion.

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