Advertisement
Friday, Oct 22, 2021
Outlook.com
Outlook.com

Infosys Buyback: India IT Major Approves Share buyback Worth Rs 9,200 Crore; Check Details

The Bengaluru-based company's net profit (after minority interest) was Rs 4,321 crore in the January-March 2020 quarter.

Infosys Buyback: India IT Major Approves Share buyback Worth Rs 9,200 Crore; Check Details
| File Photo
Infosys Buyback: India IT Major Approves Share buyback Worth Rs 9,200 Crore; Check Details
outlookindia.com
2021-04-14T18:09:42+05:30

IT services major Infosys on Wednesday posted a 17.5 per cent rise in net profit to Rs 5,076 crore for the March quarter, and announced up to Rs 9,200 crore buyback offer at a maximum price of Rs 1,750 per share.

The Bengaluru-based company's net profit (after minority interest) was Rs 4,321 crore in the January-March 2020 quarter.

Its revenue grew 13.1 per cent to Rs 26,311 crore in the March 2021 quarter from Rs 23,267 crore in the year-ago period, Infosys said in a regulatory filing.

The company's FY21 net profit was up 16.6 per cent to Rs 19,351 crore, while revenue was higher by 10.7 per cent to Rs 1,00,472 crore compared to the previous fiscal.

Infosys expects FY22 revenue to grow 12-14 per cent 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 buyback of shares of Rs 9,200 crore, it said.

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

The Board has recommended a final dividend of Rs 15 per equity share for the financial year ended March 31, 2021.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Global Hunger Index Might Not Be Flawless But India Still Needs To Take It As Warning

Global Hunger Index Might Not Be Flawless But India Still Needs To Take It As Warning

The Centre has reacted angrily at the new Global Hunger Index, but experts say it should plug loopholes in the food delivery system.

Didi's 2-Day Goa Trip Not A 'Vacation' As TMC Pitches For 'Gonychi Navi Sakal'

Didi's 2-Day Goa Trip Not A 'Vacation' As TMC Pitches For 'Gonychi Navi Sakal'

West Bengal Chief Minister Mamata Banerjee's visit comes as the TMC appoints former Goa chief minister Luizinho Faleiro as a national vice president.

What Will Happen If Pakistan Lose To India, Brad Hogg Explains

What Will Happen If Pakistan Lose To India, Brad Hogg Explains

Pakistan have won one and lost one in their T20 World Cup 2021 warm-up games while India emerged victorious in both their matches ahead of the crucial tie.

100 Crore Shots: How Modi Govt Scored Its Vaccination Goal In 280 Days

100 Crore Shots: How Modi Govt Scored Its Vaccination Goal In 280 Days

Prime Minister Narendra Modi described the feat as 'a journey from anxiety to assurance' that has made India stronger.

Advertisement