Infosys Q4FY21 results: Profit fell by 2.3% QoQ to Rs 5,076 crore; announces Rs 9,200 crore buyback

Infosys, India's second-largest IT services company, on Wednesday, April 14, 2021, announced its financial results for the quarter and the financial year ended on March 31, 2021. It had reported a 2.3 per cent quarter-on-quarter (QoQ) decline in consolidated profit at Rs 5,076 crore in Q4FY21 against Rs 5,197 crore posted in Q3FY21.

However, the profit on a year-on-year basis grew by 17.47 per cent from Rs 4,321 crore posted in the same period last fiscal, i.e. Q4FY20.

Consolidated revenue from operations grew 1.5 per cent sequentially to Rs 26,311 crore against Rs 25,927 crore posted in the previous quarter. The dollar revenue growth increased 2.8 per cent to $361.3 crore in the period under consideration against the $351.6 crore posted in the quarter ended December 31, 2021.

The dollar revenue growth increased to $3,613 million in March quarter 2021, compared to $3,516 million in the previous quarter, the company added.

Consolidated revenue in constant currency grew by 2 per cent and the top-line growth in dollar terms was at 2.8 per cent QoQ.

The Earnings before interest and taxes (EBIT) – an indicator of a company's profitability – fell 2.3% QoQ at Rs 6,440 crore from Rs 6,589 crore posted in Q3FY21. The EBIT margin fell to 24.5% in Q4FY21 against a margin of 25.4% posted in Q3FY21.

The digital revenues as a per cent of total revenues stood at 51.5 per cent of total revenues

Besides, the board has recommended a final dividend of Rs 15/- per equity share for the financial year ended March 31, 2021. The record date for the Annual General Meeting and final dividend is June 1, 2021. The dividend will be paid on June 25, 2021.

The Board has also approved a proposal for the Company to buyback its own fully paid-up equity shares of the face value of Rs 5/- each ("Equity Shares") from the equity shareholders of the Company being 14.87 per cent and 13.53 per cent of its total paid-up capital and free reserves as on March 31, 2021, for an amount, payable in cash, aggregating up to Rs 9,200 crore.