Infosys clocks net up 10.5% to Rs 4,078 cr

Infosys clocks net up 10.5% to Rs 4,078 cr

Bengaluru-based, IT giant Infosys has clocked net profit of Rs 4,078 crore for the quarter ended March 31, 2018, up 10.5% as compared with Rs 3,690 crore for the corresponding quarter last year.

The company had clocked the net profit of Rs 3,610 crore for the third quarter ended December 31, 2018.

The gross profit of the company increased to Rs 7,256 crore, as against Rs 6,529 crore in the corresponding quarter last year. While the revenues of the company jumped by 19.1% to Rs 21,539 crore, from Rs 18,083 crore.

For the year 2018-19, the board of the company has recommended a final dividend of Rs 10.50 per share ($0.15 per ADR). After including the interim dividend of Rs 7 per share, the total dividend for the financial year will amount to Rs 17.50 per share.

The stocks of the company were up Rs 4.70 and closed at Rs 747.85 per scrip at the end of Friday’s trade.

On the other hand, the company’s operating margins declined by 110 basis points to 21.5% for the March quarter.

On the geographical front, North America grew by 3.8% has been the biggest contributor to the company’s revenues in the quarter, followed by Europe 1.7%, and India revenues declined by 7.9%.

The company also signed the deals worth $1.57 billion, taking the annual tally to record $6.28 billion.

One of the company’s CEO Salil Parikh’s focus areas, digital business, contributed 33.8% of the company’s total revenues, after showing a sequential growth of 9.9%.

The company has pegged revenue guidance in the range of 7.5%-9.5% in constant currency while operating margin guidance has been pegged in the range of 21%-23%.

The company has also seen an increase in the attrition level go up by 50 basis points to 18.3% from 17.8% in the previous quarter. "We are working on it..... We have rolled out a lot of employee-centric programs. We hope that things would be better in a couple of quarters," said company's COO UB Pravin Rao.