Infosys net up 11.7% in 2017-18

Infosys Q4 results today All eyes on new CEO Salil Parekh key things to watch out for

Later this turned out to be a bone of contention between the founders and then CEO Vishal Sikka, along with the Infosys board.

After the end of market hours, the company reported 2.4 per cent growth in consolidated net profit at Rs 3,690 crore for the quarter ended March 31, 2018.

The sequential drop in fourth quarter profit was also because Q3 FY18 included positive impact of Dollars 225 million on account of conclusion of an APA with the US IRS.

The company has forecast its revenue to grow at 6-8% in constant currency and 7-9% in dollar terms for the financial year 2018-19.

However, it revised the EBIT margin guidance downwards to 22-24 percent from 23-25 percent.

The company also announced the acquisition of WongDoody Holding Company, a US-based digital creative and consumer insights agency for a total consideration of $75 million including contingent consideration and retention payouts, subject to regulatory approvals and fulfilment of closing conditions, Infosys said.

The company reported a loss of Rs 118 crore in respect of its Israeli subsidiary Panaya for the quarter.

The IT services behemoth had reported a net profit of Rs 5,129 crore in the December quarter and Rs 3,603 crore in the corresponding quarter previous year. "The corresponding write down in the investment value of Panaya in the standalone financial statements of Infosys ₹ 589 crore".

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Infosys expects revenue for the 2018-19 fiscal to grow in the range of 6-8 percent in constant currency terms and 7-9 percent in U.S. dollar terms.

Revenue from operations rose by 5.6 per cent to Rs 18,083 crore in the quarter.

Revenue from operations rose 5.6 percent to 180.83 billion rupees.

It had posted a net profit of Rs 3,603 crore in the year-ago period according to IFRS accounting norms, Infosys said in a BSE filing.

The company specified its capital allocation policy.

"Navigating Your Next" is our aspiration of how we will partner with each one of our clients." said Mr. Parekh.

Reacting to the result, ICICI Securities said in a note that earnings with revenue in-line with our expectations while it was better-than-expected on the margin front. The decision to sell the units was taken "on conclusion of a strategic review of its portfolio of businesses", Infosys said. "However, stock price has moved up over 10% on YTD basis and material upside from current the level looks capped", he said.

Infosys also tried to cheer investors as it announced a dividend of Rs 20.50 ($0.3141) per share for the fiscal year ending March 2018 and recommended a special dividend.


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