Infosys unveils 9,200-cr buyback, This fall web rises 17.4%

Infosys on Wednesday posted a 17.47 per cent year-on-year (YoY) progress in web revenue at Rs 5,076 crore for the March quarter of economic yr 2020-21 as in opposition to Rs 4,321 crore posted in the identical interval of final fiscal. The board additionally authorized a share buyback programme value as much as Rs 9,200 crore priced at Rs 1,750 per share, a premium of 25 per cent over the inventory’s closing value of Rs 1,398.60 per share on the BSE on Tuesday.
The web revenue dipped by 2.32 per cent from Rs 5,197 crore posted within the December quarter of FY21. Revenue for the quarter beneath assessment rose to Rs 26,311 crore, up 13.1 per cent, from Rs 23,267 crore in This fall of FY20.
The board additionally advisable a last dividend of Rs 15 per share. Together with the interim dividend of Rs 12 per share already paid, the full dividend per share for FY21 will quantity to Rs 27 which is a 54 per cent improve over FY 20. With this, the corporate has introduced whole dividend of Rs 11,500 crore for FY21.
Infosys stated working margin for the yr expanded by 3.2 per cent and free money flows elevated by 44.4 per cent.
On Wednesday, the board advisable capital return of Rs 15,600 crore together with last dividend of Rs 6,400 crore and open market buyback of shares of Rs 9,200 crore. “We have crossed a milestone of Rs 100,000 crore in revenue in FY21. Our intense focus on client relevance, growing our digital portfolio with differentiated capabilities like Infosys CobaltTM, and empowering employees have helped us emerge as a preferred ‘partner-of-choice’ for our global clients,” stated Salil Parekh, CEO and MD.
“A strong momentum exiting FY21, alongside a focused strategy to accelerate client digital journeys, gives us confidence for a stronger FY22,” he stated. On Monday, TCS reported a 14.9 per cent rise in web revenue at Rs 9,246 crore for the fourth quarter ended March 2021 as in comparison with Rs 8,049 crore in the identical quarter final yr.

Pravin Rao, COO, Infosys, stated, “while our employees continue to work from home through this health crisis, we remain focused on their wellness, including facilitating vaccination rollout for eligible employees. Attrition has picked up, largely reflecting a strong demand environment, but we remain confident of our employee engagement initiatives, vast talent pool and training capabilities to ensure seamless execution.”