INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Infosys on Friday announced a share buyback of Rs 8,260 crore and a special dividend of Rs 4 per equity share along with its
financial results for October-December period
However, consolidated profit came in below market expectations, while revenue beat Street estimates.
Here are other top takeaways from
Infosys' third-quarter earnings:Net profit: Infosys posted 29.62 per cent year-on-year (YoY) drop in net profit at Rs 3,610 crore for
quarter ended December 31 against Rs 5,129 crore in corresponding quarter last year
The profit figure was down 12.17 per cent on a quarter-on-quarter basis
An analysts poll by ETNow had projected a profit of Rs 4,136 crore for quarter under review.
Revenue from operations: The figure jumped
20.26 per cent to Rs 21,400 crore in Q3FY19 over Rs 17,794 crore in Q3FY18
Revenue increased 3.84 per cent on a QoQ basis
Infosys earned consolidated revenue of $54,300 per employee during quarter gone by as against $54,700 per employee in previous
quarter.
Attrition: Consolidated attrition declined to 19.90 per cent in Q3FY19 over 22.20 per cent in previous quarter
said Rao in a release.
Infosys reported gross addition of 18,773 to its workforce in Oct-December period.
Guidance: The company revised its
FY19 revenue guidance in constant currency upward to 8.5 per cent-9.0 per cent
However, operating margin guidance retained at 22 per cent-24 per cent.
Bonanza for shareholders: A special dividend of Rs 4 per share would
result in a payout of around Rs 2,107 crore (including dividend distribution tax)
The company has fixed January 25 as record date for purpose of special dividend and January 28, 2019 as payment date.
Assets held for sale:
During quarter ended December 31, 2018, based on an evaluation of proposals received and progress of negotiations with potential buyers,
Infosys concluded that it is no longer highly probable that sale would be consummated by March 31, 2019.
Accordingly, Panaya and Skava have
On de-classification, company recognised additional depreciation and amortization expenses of Rs 88 crore and a reduction of Rs 451 crore in
The impact of same on basic earnings per share was a decrease of Rs 1.24 for quarter ended December 31, 2018.
Updates on board: The board
has approved reappointment of Kiran Mazumdar-Shaw as Lead Independent Director from April 1, 2019 to March 22, 2023.
Clients data: Infosys
added 101 clients (gross) during quarter
With that, number of active clients for Infosys stood at 1,251 as of December 31, 2018
Share buyback and dividend: Jayesh Sanghrajka, Interim CFO said: We saw significant currency volatility during quarter and managed it
effectively by our hedging strategy
Cash generation was strong during quarter
Executing on capital allocation strategy announced in April 2018, we have announced a share buyback program and a special dividend.
