IT services major Infosys on Wednesday posted a 17.5 per cent rise in net profit to Rs 5,076 crore for the March quarter, and announced up to Rs 9,200 crore buyback offer at a maximum price of Rs 1,750 per share.
The Bengaluru-based company's net profit (after minority interest) was Rs 4,321 crore in the January-March 2020 quarter. Its revenue grew 13.1 percent to Rs 26,311 crore in the March 2021 quarter from Rs 23,267 crore in the year-ago period, Infosys said in a regulatory filing.
The company's FY21 net profit was up 16.6 percent to Rs 19,351 crore, while revenue was higher by 10.7 percent to Rs 1,00,472 crore compared to the previous fiscal. Infosys expects FY22 revenue to grow 12-14 percent in constant currency.
The Board has recommended a capital return of Rs 15,600 crore, including a final dividend of Rs 6,400 crore and open market buyback of shares of Rs 9,200 crore, it said.
"Large deal TCV for FY21 peaked to an all-time high of USD 14.1 billion, with 66 percent being net new. Operating margin for the year expanded by 3.2 percent and Free Cash Flows increased by 44.4 percent," Infosys added.
The Board has recommended a final dividend of Rs 15 per equity share for the financial year ended March 31, 2021.