Infosys, India's second-largest IT services firm, posted a consolidated profit of Rs 5,076 crore for the quarter ended March 2021, impacted by poor margins but bolstered by revenue growth. Infosys, the IT behemoth, posted a net profit of 5,078 crores for the quarter ended in March on Wednesday. In the same quarter last year, it made a net profit of Rs 4,321 crore.
According to the company's regulatory filing, revenue for the March quarter increased to Rs 26,311 crore. A final dividend of $15 per share was also declared by the company. The company's consolidated revenue from operations increased to Rs 26,311 crore, matching CNBC-TV18 poll estimates. EPS was at Rs 45.61 for the year ended Mar 31, 2021. For the fiscal year ending March 31, 2021, revenues totalled Rs 100,472 crores, representing a 10.7% increase over the previous year.
Infosys Share Buyback
On Wednesday, the Bengaluru-based firm announced a share buyback of Rs 9,200 crore. This will be the company's third stock buyback in the last five years. In December 2017, Infosys completed its first buyback of 13,000 crores, consisting of 11.3 crore equity shares at a price of 1,150 per share. It bought back 11.05 crore shares in August 2019 as part of an 8.260 crore buyback deal, at an average price of $747.38 per equity share.
In accordance with the capital allocation policy, the Board of Directors approved the buyback of equity shares from the open market through the Indian stock exchanges in the amount of $9,200 crore at a price not exceeding 1,750 per share, subject to shareholder approval at the ensuing Annual General Meeting.
The Board approved a final dividend of Rs 15/- per equity share, par value of 5/- each for the fiscal year 2021. On June 25, 2021, the dividend will be charged. The last dividend will be paid on June 1, 2021, which is the record date. The Company announced a final dividend of Rs 9.50/- per equity share for the fiscal year ended 2020.
On October 14, 2020, an interim dividend of Rs 12 was announced and paid on November 11, 2020. The previous year's interim dividend was set at Rs 8/- per equity share.
During the quarter, Ethisphere Institute, US named Infosys one of the World's Most Ethical Companies in 2021, and it was ranked #30 on the WSJ's list of the world's 100 most sustainably run companies in 2021.