New Delhi: IT software major Infosys’ fourth quarter profit and operating profit beat analysts’ expectations on Friday as the numbers posted a profit growth by 3.8 percent to Rs. 3,597 crore in January-March quarter compared to Rs. 3,465 crore.
Rupee revenue increased 4.1 percent sequentially to 16,550 crore from Rs. 13,411 crore in the same period. The company in a statement said that the dollar revenue in Q4 rose 1.6 percent to USD 2,446 million and 1.9 percent in constant currency compared to preceding quarter.
CEO and MD of Infosys, Vishal Sikka, said: “I am proud of company’s achievements in my first fiscal year as CEO of Infosys.”
“It is our endeavor to create great value for every business through solutions built on our artificial intelligence technology and open, cloud platforms, to have Infoscions amplified by intelligent technology, to bring purposeful innovation to life, and in that sense, we are still very much at the beginning of this journey,” he added.
Nasscom representing the Indian software industry expects the IT industry to grow 10-12 percent in FY17. In March quarter, earnings before interest and tax grew by 6.6 percent to Rs. 4,220 crore and EBIT margin expanded by 60 basis points to 25.5 percent compared to the preceding quarter.
Infosys’ FY16 dollar revenue growth in constant currency matched analysts’ expectations at higher end of the band (12.8-13.2 percent).
Other income during the quarter declined to 3.7 percent to Rs. 772 crore on sequential basis and fell 8.8 percent in FY16 to Rs. 3,125 crore as against the previous financial year. Infosys has recommended a final dividend of Rs. 14.25 per share for the financial year, which ended on March 31, 2016. (ANI)