Shares of Infosys on Thursday declined over 5 per cent on profit-booking after its March 2021 quarter earnings missed market expectations.
The inventory dipped 5.59 per cent to Rs 1,320.35 on BSE.
At NSE, it tumbled 5.52 per cent to Rs 1,320.
“Infosys reported a muted set of Q4 FY21 numbers. FY22 revenue growth (12-14 per cent) and margin (22-24 per cent) guidance were lower than our expectations of 13-15 per cent revenue growth and 23-24 per cent margin,” in response to a report by Edelweiss Securities.
IT providers main Infosys on Wednesday posted a 17.5 per cent rise in web revenue to Rs 5,076 crore for the March quarter, and introduced as much as Rs 9,200 crore buyback provide at a most worth of Rs 1,750 per share.
The Bengaluru-based firm’s web revenue (after minority curiosity) was Rs 4,321 crore within the January-March 2020 quarter.
Its income grew 13.1 per cent to Rs 26,311 crore within the March 2021 quarter from Rs 23,267 crore within the year-ago interval, Infosys stated in a regulatory submitting.
The firm’s FY21 web revenue was up 16.6 per cent at Rs 19,351 crore, whereas income rose by 10.7 per cent to Rs 1,00,472 crore in comparison with the earlier fiscal.
Infosys expects FY22 income to develop 12-14 per cent in fixed forex.
The Board has beneficial a capital return of Rs 15,600 crore, together with a closing dividend of Rs 6,400 crore and open market buyback of shares of Rs 9,200 crore, it stated.
The Board has beneficial a closing dividend of Rs 15 per fairness share for the monetary 12 months ended March 31, 2021.
Equity markets have been closed on Wednesday.
“In INR term, it reported revenue Rs 263.bn (up 1.5 per cent Q-o-Q), a slight miss on our estimate. It is to be noted that there was an adverse impact of INR appreciation in reported INR revenue for the quarter; and also, the revenue growth for the quarter was impacted by some time being taken in ramping up large deals,” as per a report on Infosys by YES Securities.
