IT major Infosys on Thursday announced its results for the quarter ended March 31, 2017. The company’s consolidated net profit fell 2.83 per cent to Rs 3,603 crore against consolidated net profit of Rs 3,708 crore in the sequential quarter ended December 31, 2016. Reacting to the results, shares of the company fell over 2 per cent in early trade.
Here are the key takeaways from Infosys results
1. Consolidated revenue of the company fell 0.89 per cent quarter-on-quarter (QoQ) and 3.44 per cent year-on-year (YoY) to Rs 17,120 crore for the quarter under review
2. The company’s board has announced a final dividend of Rs 14.75 per share for 2016-17.
3. The company’s current policy is to pay dividends of up to 50% of post-tax profits of the financial Year. Effective from financial Year 2018, the company expects to payout up to 70 per cent of the free cash flow of the corresponding Financial Year in such manner (including by way of dividend and/or share buyback) as may be decided by the Board from time to time, subject to applicable laws and requisite approvals, if any.
4. Company to pay up to Rs 13,000 crore through dividend/share buyback
5. The company has kept its revenue guidance at 6.5-8.5 per cent in constant currency terms
6. The IT bellwether has kept FY18 EBIT margin guidance at 23-25 per cent
7. Appointed Ravi Venkatesan, Independent Director as the Co-Chairman of the Board
8. The Committee of the Board of Directors of Infosys Limited at its meeting held on April 13, 2017, based on fiscal 2017 performance, approved the grant of 37,100 RSU and 73,600 stock options with effect from May 2, 2017, to few eligible and identified employees of the Company and its subsidiaries under the 2015 Stock Incentive Compensation Plan (2015 plan)
9. The company also said that its March quarter annualised standalone employee attrition was at 13.5 per cent as compared to 12.6 per cent year ago, whereas March quarter annualized consolidated employee attrition stood at 17.1 per cent versus 17.3 per cent year ago. Infosys’ COO Pravin Rao said that attrition declined during the quarter reflects our focus on better employee engagement
10. Infosys in the fourth quarter added 71 new clients and its client count stood at 1162. The company said it has added more clients in the $100 million-plus category.
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