Infosys to buy back shares at 25% premium

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Information technology company Infosys reported that 2.6% quarter fall in its consolidated net profit to Rs 5,078 crore for the quarter ended March, which was lower than analysts’ estimate of Rs 5,170.2 crore.

The Bengaluru-based company guided for 12-14 per cent sales growth in constant currency terms in 2020-21and an operating margin band of 22-24 per cent. Infosys also approved a share buyback plan worth Rs 9,200 crore. The company also announced a final dividend of Rs 15 per share. On a year-on-year basis, the company’s revenues rose 9.6 per cent in the March quarter while the bottomline climbed 17% . For the quarter ended March, the company reported consolidated operating margin of 24.5 per cent, down 90 basis points from the previous quarter.The company has had a stellar 2020-21 after an initial stumble due to the pandemic largely because of accelerated migration to digital services such as cloud by companies across the world. In constant currency terms, the IT behemoth’s revenues rose 2 per cent on a sequential basis in the March quarter. The revenue performance in the quarter was aided by 34.4 per cent year-on-year growth in digital services.In constant currency terms, the IT behemoth’s revenues rose 2 per cent on a sequential basis in the March quarter. The revenue performance in the quarter was aided by 34.4 per cent year-on-year growth in digital services. For the financial year ended March, Infosys reported a 5 per cent growth in its topline in constant currency terms. The company’s operating margin rose 320 basis points to 24.5 per cent, while its basic earnings per share grew 12.5%. Shares of the company had ended 1.6 per cent lower at Rs. 1,402.85 on the National Stock Exchange on Tuesday.

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