Infosys Q4 Results: Net profit at Rs 14,353 crores for FY 2017, up 6.4 percent YoY

The country’s second-largest IT services firm Infosys on Thursday reported a marginal growth in consolidated net profit at Rs 3,603 crore for the quarter ended March 2017.

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.

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 company 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.

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Here are the Live updates:

Here is a summary of Infosys' Q4 2017 results and FY 2017 results:

Revenue at Rs. 68,484 crores for year ended Mar 31, 2017; YoY growth 9.7 percent

Net profit at Rs. 14,353 crores for year ended Mar 31, 2017; YoY growth 6.4 percent

Gross addition of 9,130 employees in Q4 FY17

Client count 71 new clients added in Q4 FY17; Total count 1162

Basic EPS at Rs. 15.77; growth of 0.2% YoY

Consolidated revenue of the company also declined 0.89 per cent quarter-on-quarter (QoQ) and 3.44 per cent year-on-year (YoY) to Rs 17120 crore for the quarter under review. 

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Rs 13,000 crore payout to shareholders via dividend or share buyback in FY18  

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Revenue growth to USD 20 billion by 2020 is an aspiration, stresses Sikka. We are intensely focussing on cost, he said. Revenue per employee is already more  than USD 100,000. Dual focus will be on automation and software, he said.

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Capital allocation takes into account capital expenditure requirements, says Ranganath. We generated USD 1.7 billion in cash.

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Pravin Rao, COO, Infosys, says there have been easing of regulatory pressures in the US. 

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FY17 cash from operations crossed USD 2 billion. The company focussed on efficiency and margins, says Ranganath  

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Revenues were Rs 68,484 crore for year ended Mar 31, 2017; YoY growth of 9.7%.Operating profit Rs 16,901 crore, YoY growth of 8.2%: Infosys

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Infosys expects revenues to grow 6.5%-8.5% in constant currency(2017-18)

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Infosys Board has appointed Ravi Venkatesan, Independent Director as Co-Chairman of the board

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Infosys Board has appointed Ravi Venkatesan, Independent Director as Co-Chairman of the board

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.

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

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He added: “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.”

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. The board has recommended a final dividend of Rs 14.75 per share for 2016-17.