Infosys Q4 results 2018: Good news! Dividend payout 30% higher this time
Infosys Q4 results 2018: The country's second largest software services firm, reported 24 per cent fall in net profit at Rs 3,690 crore in the quarter ended on March 31, 2018 on consolidated basis as against Rs 3708 crore crore reported in December quarter.
IT major Infosys kicked off the March quarter earnings season on a good note with the company reporting net profit and revenues in-line with expectations, while operating margins came in above expectations. The cash-rich company also announced a final dividend of Rs 20.50 per equity share for the financial year ended March 31, 2018 and special dividend of Rs 10 per equity share.
"For the Financial Year 2018, the board recommended a final dividend of Rs 20.50 per share ($0.31 per ADR) amounting to Rs 5,349 crore ($821 million) including DDT. After including the interim dividend of Rs 13 per share, the total dividend for Financial Year 2018 will amount to Rs 33.50 per share resulting in a payout of Rs 8,771 crore ($1,349 million) including DDT, which will amount to approximately 70 per cent of free cash flow for the Financial Year 2018," Infosys said in a filing to BSE.
"The total dividend of Rs 33.50 per share is approximately 30 per cent higher than total dividend of Rs 25.75 per share for financial year 2017," it added.
The country's second largest software services firm, reported 24 per cent fall in net profit at Rs 3,690 crore in the quarter ended on March 31, 2018 on consolidated basis as against Rs 3708 crore crore reported in December quarter.
The tech major's revenues grew by 7.2 per cent in dollar terms, while 5.8 per cent in constant currency terms, with operating margins coming in at 24.3 per cent.
Stating their outlook for FY19, the company said revenues are expected to grow 6 per cent to 8 per cent in constant currency terms, and 7 per cent to 9 per cent in dollar terms based on the exchange rates as of March 31, 2018.
“I am pleased with our healthy revenue growth, profitability, and cash generation in Q4. Our robust performance is a reflection of the strong impact we have with our clients and the dedication of our employees. ‘Navigating Your Next’ is our aspiration of how we will partner with each one of our clients.” said Salil Parekh, Chief Executive Officer, Infosys.
“We will execute our strategy around the four pillars of Scaling our Agile Digital business which is today $2.79 billion in revenue, Energizing our client’s core technology landscape via AI and automation, Re-skilling our employees, and expanding our localization in markets such as US, Europe, and Australia,” he added.
Infosys share price settled at Rs 1169, up 0.6 per cent on the BSE.