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Infosys Q4 net profit grows marginally to Rs 3,603 crore

India TV Business Desk Bengaluru 13 Apr 2017, 10:58:35 IST
India TV Business Desk

Country's second-largest IT services firm Infosys has posted a Rs 3,603 crore consolidated net profit for the fourth quarter (January-March) of fiscal 2016-17.

Net profit came in 0.2 per cent higher than Rs 3,597 crore in the same period previous year, according to a BSE filing by Infosys.

Revenue of the Bengaluru-based IT major grew 3.4 per cent to Rs 17,120 crore in the March quarter compared to Rs 16,550 crore in the same period of 2015-16, it added.

The company expects its 2017-18 revenue to grow between 6.1 per cent and 8.1 per cent in dollar terms and 6.5-8.5 per cent in constant currency terms. On a sequential basis, Infosys' net profit fell 2.8 per cent while revenue declined 0.9 per cent.

"Unanticipated execution challenges and distractions in a seasonally soft quarter affected our overall performance," CEO Vishal Sikka said.

"Looking ahead, it is imperative that we increase our resilience to the dynamics of our environment and we remain resolute in executing our strategy, path to transform Infosys and drive long term value for all stakeholders," he added.

In US dollars, Infosys net profit was up 1.8 per cent at USD 543 million for the March quarter while revenue grew 5 per cent to USD 2.5 billion.

For the full year, net profit grew 4.3 per cent to USD 2.1 billion while revenue was up 7.4 per cent to USD 10.2 billion.

Infosys will also pay up to Rs 13,000 crore to shareholders during 2017-18 by way of dividend and/or share buyback. It has named Independent Director Ravi Venkatesan co-Chairman of the company.

With Agency Inputs