Infosys Q4 profit up 6.3 pc at Rs 4,335 crore, revenue at Rs 23,267 crore

New Delhi: IT major Infosys on Monday reported a net profit of Rs 4,335 crore for the quarter ended March 2020, up 6.3 per cent from Rs 4,078 crore in the corresponding period of previous fiscal.

Revenue during Q4 FY20 stood at Rs 23,267 crore as compared to Rs 21,539 crore in Q4 FY19, clocking a growth of 8 per cent year-on-year and 0.8 per cent quarter-on-quarter. The operating profit was Rs 4,927 crore, showing an increase of 6.7 per cent year-on-year but a decrease of 2.7 per cent quarter-on-quarter.

The company said considering the business uncertainty emanating from COVID-19, it is unable to provide guidance on revenues and margins for FY 21 at this stage. It will provide guidance after visibility improves.
“We had an exceptional year in the financial year 2020 with the growth of 9.8 per cent and operating margin of 21.3 per cent,” said Managing Director and CEO Salil Parekh.

“While the immediate short-term will be challenging, looking ahead, we can see that there is a strong interest to consolidate with partners with high-quality and agile service delivery and strong financial resilience. I am confident we will emerge from this stronger,” he said in a statement.

Infosys said its Q4 20 digital revenues at 1.34 billion (41.9 per cent of total revenues) marked year-on-year growth of 31.7 per cent and sequential growth of 2.6 per cent in constant currency.

It announced a final dividend of Rs 9.50 per share.

Chief Operating Officer Pravin Rao said the impact caused by COVID-19 for the last few weeks of March led to significant displacement in the operating model while severely testing business continuity plans of companies.

“We demonstrated what a ‘Live Enterprise’ truly is by improving the infrastructure and technology enablement for our employees in a short time span and ensuring business continuity for clients,” he said.

Chief Financial Officer (CFO) Nilanjan Roy said: “We continue to remain focused on execution excellence in a period of high uncertainty. Our relentless focus on liquidity will be supported by our strong balance sheet of 3.6 billion dollars cash, backed by accelerated cost take-outs and operational rigour.”

Infosys also announced the appointment of Uri Levine as an independent director of the company from today. The appointment is for a period of three years and is subject to the approval of shareholders. (ANI)