Infosys fourth quarter profit jumps over 10%, beats street estimates

NEW DELHI: Infosys Ltd, India's second biggest software services exporter, reported a 10.4 per cent rise in fourth-quarter profit on Friday, helped by strong growth in its key financial services segment and large deal wins during the quarter.

Net profit for the January-March quarter came in at Rs 4,074 crore ($588.62 million) compared to Rs 3,690 crore it reported last year.

That came above street estimates of Rs 3,956 crore, Refinitiv Eikon data showed.

The IT bellwether reported a 19.1 per cent increase in revenue from operations during the quarter.

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

“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 Parekh, chief executive and managing director.