Infosys Q4 results: Net Profit declined by 2.30% to Rs. 5,078 crores; miss estimates
Infosys Q4 results: It is one of the largest multinational technology-based companies in India located in Banglore. Whereas the company provides services in business consulting, information technology, and outsourcing services across India. It is the second-largest company after TCS. Initially, the company was also known as Infosys Technologies Limited and later changed into Infosys Limited. The present chief executive officer (CEO) & managing director (MD) of the company is Salil Parekh.
Meanwhile, on Thursday, April 15th, the shares of the company plunged almost 4% in the stock market. The main reason for this the IT company reported its Q4 results for the financial year 2021-22. The companies standalone net profit declined by 2.30% (QoQ) to Rs. 5,076.00 crores in Q4FY21. While the company also posted its standalone net profit of Rs. 5,171.00 crores in the previous quarter ended in December 2020.
Moreover, the companies total revenue from operations increased by 1.50% QoQ to Rs. 26,311.00 crores as against Rs. 25,927.00 crores in the same period last financial year. The company crossed a revenue milestone of Rs. 1 lakh crores in the financial year 2021.
Whereas the revenue in terms of dollars increased by 2.80% to $3,613 million in Q4FY21.The operating income of the company during the quarter declined by 2.30% to Rs. 6,440 crores as against Rs. 6,532 crores in the same quarter last year.
The companies EBIT margin declined by 90 basis points to 24.50% as against 25.40% due to wage hikes and cross-currency headwinds. On the other side, the company bagged projects worth almost $14.10 billion from clients during this quarter. For this quarter, the company bagged a deal worth $2.10 billion, said Salil Parekh, MD & CEO of the company.
Besides, the IT company declared a final dividend of Rs. 15 per equity share. So that the total dividend paid by the company during the financial year 2021-22 stood at Rs. 27 per share.
While the companies revenue from banking, financial services, and insurance (BFSI) increased by 1.20% QoQ to Rs. 8,677 crores as against Rs. 8,578.00 crores in the same quarter last year. While in the retail segment the revenue of the company rose by 2.70% to Rs. 3,902 crores as against Rs. 3,801.00 in the previous quarter.
Whereas the company board approved the buyback of equity shares worth Rs. 9,200 crores. The company will acquire almost 5.25 crore shares at a floor price of Rs. 1,750 per share, which is almost a 25.20% premium to Tuesday’s closing price.
However, the shares of Infosys Limited on Tuesday reported a bearish trend in the stock market. It lost 50.95 points with a 3.63% decrease and reached 1,346.55 INR. While in BSE, the company lost 51.15 points with a 3.66% decrease and reached 1,347.45 INR.
Stock Market on April 15th:
On Thursday, both Sensex and Nifty reported a bearish trend in the stock market after bullish reports in the last session of the market. The Sensex is trading below 48,100 levels and nifty trading below 14,400 levels in the stock market. The Sensex lost 480.47 points with a 0.99% decrease and reached 48,078.83 levels. While the nifty lost 129.45 points with a 0.89% decrease and reached 14,375.75 levels.
On the other side, the number of coronavirus cases in India on Thursday, April 15th reached 1,40,74,564 with almost 1,73,123 deaths.
In the border markets, the S&P BSE Small-Cap index reported a bearish trend in the stock market on Thursday. It lost 204.39 points with a 0.98% decrease and reached 20,602.04 levels. But, the S&P BSE Midcap lost 241.53 points with a 1.21% decrease and reached a 19,703.84 level. While the Nifty Bank lost 259.82 points with a 0.69% decrease and reached 31,553.75 level.
Top Gainers on April 15th: Cipla, ONGC, Wipro, TCS, and Divi’s Laboratories are the top gainers in today’s stock market.
Top Losers on April 15th: Infosys, Grasim Industries, Eicher Motors, IndusInd Bank, and Maruti Suzuki are the top losers in today’s stock market.