IT services major Infosys on April 14 posted a 17.5% rise in net profit to ₹5,076 crore for the March quarter, and announced up to ₹9,200 crore buyback offer at a maximum price of ₹1,750 per share.
The Bengaluru-based company’s net profit (after minority interest) was ₹4,321 crore in the January-March 2020 quarter.
Its revenue grew 13.1% to ₹26,311 crore in the March 2021 quarter from ₹23,267 crore in the year-ago period, Infosys said in a regulatory filing.
The company’s FY21 net profit was up 16.6% to ₹19,351 crore, while revenue was higher by 10.7% to ₹1,00,472 crore compared to the previous fiscal.
Infosys expects FY22 revenue to grow 12-14% in constant currency.
The Board has recommended a capital return of ₹15,600 crore, including a final dividend of ₹6,400 crore and open market buyback of shares of ₹9,200 crore, it said.
“Large deal TCV for FY21 peaked to an all-time high of USD 14.1 billion, with 66% being net new. Operating margin for the year expanded by 3.2% and Free Cash Flows increased by 44.4%,” Infosys added.
The Board has recommended a final dividend of ₹15 per equity share for the financial year ended March 31, 2021.