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 Ltd.is ₹ 589 crore".

Captrust Financial Advisors Takes $3.44 Million Position in Starbucks Co. (SBUX)
The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. SBUX traded at an unexpectedly high level on 12/04/2018 when the stock experienced a 0.02% gain to a closing price of $59.43.

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.

Related:

  • Trump weighs Syria options, Russian Federation  envoy says he 'cannot exclude' war

    Trump weighs Syria options, Russian Federation envoy says he 'cannot exclude' war

    Foreign Minister Sergei Lavrov warned Western intervention in Syria would "lead to new waves of migrants to Europe". But he also appeared anxious to avoid a wider conflict, saying France would "in no way allow an escalation".

    Intercontinental Exchange, Inc. (ICE) Stock Formed Bullish Double Top Chart Pattern

    The regular session started at $72.27 but as the trading went on, the stock escalated, ending the session with a gain of 2.23%. Moreover, Laffer Investments has 0.57% invested in Intercontinental Exchange , Inc. ( NYSE : ICE ) for 1.98 million shares.

    JPMorgan Chase Begins Coverage on NetApp (NTAP)

    The expected future increase in earnings per share ("EPS") is an incredibly important factor.in identifying an under-valued stock. When this occurs, investors may need to make the tough decision of whether to take some profits or hold out for further gains.
  • Russian Federation  warns the U.S.  that Syrian airstrikes could spark war

    Russian Federation warns the U.S. that Syrian airstrikes could spark war

    The government's capture of Douma, the last town held by the rebels in eastern Ghouta, marked a major victory for Assad. The Syrian government and Russian Federation have denied that the attack occurred.
    Nerve poisoning: Japan await results of investigation - FM

    Nerve poisoning: Japan await results of investigation - FM

    The experts concluded that the agent could be produced only by a state: "OPCW concluded chemical was high purity". British Foreign Secretary Boris Johnson reacted to the OPCW findings saying: "The Kremlin must give answers".
    Shares in General Mills (GIS) Purchased by Jump Trading LLC

    Shares in General Mills (GIS) Purchased by Jump Trading LLC

    The stock of General Electric Company (NYSE:GE) has "Sector Perform" rating given on Tuesday, November 14 by RBC Capital Markets. The rating was maintained by BMO Capital Markets with "Hold" on Wednesday, December 20. 20,084 were reported by Prudential Plc.
  • Gaza ministry says gunfire at protest wounds 122

    Gaza ministry says gunfire at protest wounds 122

    In northern Gaza, a large Israeli flag was burned that had earlier been set on the ground for protesters to walk over. Israel has accused Hamas of launching border attacks and attempting to infiltrate Israel under the guise of protests.
    Facebook Now Has a Really Cool AR Drawing Feature for Stories

    Facebook Now Has a Really Cool AR Drawing Feature for Stories

    For optimal effect, it only wraps drawings around objects if it is confident about the object that it has detected. Amidst its big privacy controversy, Facebook is launching a new feature for Stories.
    Syria 'chemical attack': U.S.  and United Kingdom  explore military response

    Syria 'chemical attack': U.S. and United Kingdom explore military response

    Most members of Congress - Democrats as well as his fellow Republicans - praised Trump after the strike previous year . The WHO condemned the incident and said over 500 people from Douma had been treated for symptoms of gas poisoning.
  • Anish, Tejaswani clinch gold; Anjum bags silver

    Anish, Tejaswani clinch gold; Anjum bags silver

    On the other hand, the 24-year-old Moudgil has tasted her first success in these Games while making her maiden appearance. In women's long jump final, Neena and Nayana finished 10th and last in a 12-woman field with disappointing performances.
    Vettel: Car is 'not where I want it to be'

    Vettel: Car is 'not where I want it to be'

    Despite the German's lead, Hamilton was bullish about his prospects this season as he chases a fifth world title. The world champion has said he can not afford to lose any more ground to the German in the title race .

    Steel Dynamics, Inc. (STLD) Lowered by Berenberg Bank to "Hold"

    The broad-based S&P 500 rose 0.8 percent to 2,663.99, while the tech-rich Nasdaq Composite Index advanced 1.0 percent to 7,140.25. Chemical Bank decreased Vanguard Inter Term Corp Bond (VCIT) stake by 5,825 shares to 117,609 valued at $10.28 million in 2017Q4.

Comments

Latest news

Yodeling Walmart Kid to Perform at Coachella, Maybe Alongside Post Malone
The 11-year-old kid who went viral for yodeling at Walmart has fallen into some sweet deals in the past week. Between Cardi's unique noises and Ramsey's yodeling, it would be.interesting, to say the least.

Bottos (BTO) went up $0.00262 in 24 hours
Autonio has a market capitalization of $2.96 million and $3,415.00 worth of Autonio was traded on exchanges in the last 24 hours. Investors can then use their newly-acquired Bitcoin or Ethereum to buy eBoost using one of the aforementioned exchanges.

Nobel literature prize panel's head resigns over harassment controversy
One camp had defended Frostenson and the Academy's old guard, while the other camp supported Danius, who wanted to carry out reforms.

Shares in Netflix (NFLX) Acquired by Gotham Asset Management LLC
It is positive, as 53 investors sold NFLX shares while 244 reduced holdings. 107 funds amassed stakes and 281 increased stakes. Netflix stock was up 1.9% at $314.99 at last check, pacing for its eighth daily win in nine sessions. (NASDAQ: NFLX ) shares.

National Football League insider: Cowboys expected to part ways with Dez Bryant
Last season, the 2014 All-Pro wideout had 69 catches for 838 yards and six touchdowns. Bryant has spent all eight seasons of his career with Dallas .

IShares iBonds Dec 2022 Term Corporate (IBDN) Declines 0.012% for April 11
In terms of moving averages, the 200-day is now at 4.77, the 50-day is 4.88, and the 7-day is resting at 4.89. The Average Directional Index or ADX is a popular technical indicator created to help measure trend strength.

Irregular Bought and sold Healthcare Stock Hologic, Inc.'s (HOLX)
In Play Stocks are volatile enough to produce good risk and reward trading opportunities for both bull and bear traders intraday. ATR reflects the trading range, and knowing this can allow you to more accurately buy and sell into trends as well as set stops.

Russia: Syrian regime now controls rebel town hit in chemical attack
Then came Saturday's suspected chemical attack in Douma, followed by worldwide condemnation and threats of military action. Mattis said options would be discussed with Trump at a meeting of his National Security Council on Thursday afternoon.

GoPro (NASDAQ:GPRO) Upgraded at Vetr
A high P/E suggests that investors are expecting higher earnings growth in the future compared to companies with a lower P/E. Zacks Investment Research cut shares of GoPro from a buy rating to a hold rating in a report on Wednesday, November 29th.

Taiwan president watches naval drill as China tensions grow
Given the icy cross-strait relations, any accident during the drill could evolve into something unimaginable, she said. Addressing forces aboard the Changsha destroyer, Mr Xi said the need for a strong navy had never been more urgent.

Deborra-Lee Furness is Hugh Jackman's greatest gift
She always believed in me, knew I'd make it and I thought she was insane , that she was merely in love and she was wrong. As we ponder on a Deadpool/Wolverine collab on the big screen, Deadpool 2 is set to hit theaters on May 18.

PNC Financial Services Group (PNC) Receiving Positive Media Coverage, Analysis Shows
The company's shares, up more than 31 percent in the past year, were down more than 1.48 percent at $149.50 in premarket trading. With 2.23 million shares average volume, it will take short sellers 2 days to cover their PNC's short positions.

Tonya Harding, Adam Rippon Join 'Dancing With The Stars: Athletes' Cast
The disgraced figure skater has been in the news in the past year as she was the subject of the Margot Robbie movie I, Tonya . Olympic figure skater Mirai Nagasu will also compete for the mirror ball trophy with her partner, Alan Bersten.

On April, 26 Microsoft Corporation (MSFT) Analysts See $0.85 EPS
JPMorgan Chase set a $94.00 target price on Microsoft and gave the stock a "neutral" rating in a report on Thursday, February 1st. UBS set a $110.00 price objective on Microsoft and gave the stock a "buy" rating in a research report on Thursday, February 1st.

'You're very kind': Schwarzenegger updates well-wishers following his heart surgery
Great is a totally different level. "And I'm truly filled with gratitude for all of the kind messages". In the video, which he shared on Twitter with the caption "Thank you all for caring".

Other news