Infosys Q3 net profit falls 30% to Rs 3,610 crore, revenue at Rs 21,400 crore

It had posted a net profit of Rs 5,129 crore in the year-ago period, Infosys said in a BSE filing.

Infosys Q3 net profit falls 30% to Rs 3,610 crore, revenue at Rs 21,400 crore

New Delhi: The country's second-largest IT firm Infosys Friday reported nearly 30 percent slump in its consolidated net profit at 3,610 crore for the quarter ended December 2018, Infosys said in a BSE filing. It had posted a net profit of Rs 5,129 crore in the year-ago period.

The Bengaluru-based firm's revenue however grew 20.3 percent YoY to Rs 21,400 in the quarter under review as compared to Rs 17,794 crore in the year-ago period.

The company's operating profit was Rs 4,830 crore, posting a growth of 11.8 percent YoY and decline of 1.3 percent quarter on quarter, the company said in a BSE filing. Infosys revised its FY 19 revenue guidance in constant currency upward to 8.5 percent-9.0 percent.

“ With increased client relevance, we saw double digit (10.1%) year - on - year growth in Q3 on a constant currency basis”, said Salil Parekh, CEO and MD. “We also had another strong quarter in our digital business with 33.1% growth and large deals at $1.57 billion which gives us confidence entering 2019 ”, he added.

The company board has also approved buyback of equity shares, from the open market route through the Indian stock exchanges, amounting to Rs 8,260 crore (Maximum Buyback Size) (approximately $1,184 million) at a price not exceeding Rs 800 per share (Maximum Buyback Price) (approximately $11.46 per share), subject to shareholders' approval by way of Postal Ballot.

The company has also announced a special Dividend of Rs 4 per share (approximately $0.06 per share) that would result in a payout of approximately Rs 2,107 crore (approximately $302 million) (including dividend distribution tax).