Financial Insights

Infosys posts 22% growth in revenues in Q4 results

India’s second largest and one of the top 3 IT services brands, Infosys has reported a 22.7% YoY growth in revenues and 12% YoY growth in consolidated net profit for the quarter ended on 31st March 2022.

The IT giant’s profit rose from Rs 5,076 crores to Rs 5,686 crores this year. Despite being an impressive growth, the profit for this quarter was well below the analysts’ estimate of Rs 5,850.

The company’s revenues grew from Rs 26,311 crores to Rs 32,276 crores as the company saw a slight decline in its retail and financial services but saw some growth in all other business verticals. The company’s revenues from America declined but the same rose from Europe and India.

The company has also received a recommendation of paying out final dividend of Rs 16 per share from its board. Added on to the interim dividend of Rs 15 announced earlier, the company’s annual dividend came to a total of Rs 31. The company also managed to reach a total contract value of $9.5 billion for FY 2021-22.

Today, Infosys has announced that it has no plans to continue its business with Russian clients. The company said it has started to transition the minor services it had in Russia elsewhere. This comes after founder Narayana Murthy’s daughter Akshata Murthy’s 0.93% stake in the company has come under the scrutiny of British officials.

The shares of Infosys have been falling since 1st April as the share currently trades around Rs 1748 per share currently, down 8.15% from Rs 1903 per share at the beginning of April.

Highlight by Aman Agarwal.

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