Infosys Q4 Results HIGHLIGHTS: INFY announces Rs 17.5/share final dividend as IT major's profit, revenue, margin fall short of analysts' estimates
Infosys Q4 Results HIGHLIGHTS: Infosys (INFY) — the country's second largest IT services exporter after Tata group giant Tata Consultancy Services (TCS) — on Thursday, April 13 reported a seven per cent sequential drop in net profit to Rs 6,128 crore for the January-March 2023 period, falling way short of analysts' estimates. The Infosys Q4 earnings come a day after TCS kicked off the Q4 results season by reporting a muted set of quarterly numbers.
ALSO READ: Infosys misses estimates with Q4 PAT of Rs 6,128 crore, declares final dividend of Rs 17.5/share
The double whammy for Dalal Street comes minutes after the Indian share market entered a long weekend. Indian IT industry is struggling to counter inflated employee costs to address high levels of attrition despite robust demand.
Earlier in the day, Zee Business Managing Editor Anil Singhvi said investors looking for guidance to gauge the trend in the Indian IT sector would have to wait for Infosys. TCS does not give specific guidance for revenue or earnings.
Follow this space to catch HIGHLIGHTS of the Infosys Q4 results (January-March 2023) LIVE only on Zeebiz.com, along with management commentary, what to make of the latest trends in attrition, hiring and client deals for the IT giant, the views of Zee Business Managing Editor Anil Singhvi and other experts, and much more:
Infosys Q4 Results HIGHLIGHTS: Infosys (INFY) — the country's second largest IT services exporter after Tata group giant Tata Consultancy Services (TCS) — on Thursday, April 13 reported a seven per cent sequential drop in net profit to Rs 6,128 crore for the January-March 2023 period, falling way short of analysts' estimates. The Infosys Q4 earnings come a day after TCS kicked off the Q4 results season by reporting a muted set of quarterly numbers.
ALSO READ: Infosys misses estimates with Q4 PAT of Rs 6,128 crore, declares final dividend of Rs 17.5/share
The double whammy for Dalal Street comes minutes after the Indian share market entered a long weekend. Indian IT industry is struggling to counter inflated employee costs to address high levels of attrition despite robust demand.
Earlier in the day, Zee Business Managing Editor Anil Singhvi said investors looking for guidance to gauge the trend in the Indian IT sector would have to wait for Infosys. TCS does not give specific guidance for revenue or earnings.
Follow this space to catch HIGHLIGHTS of the Infosys Q4 results (January-March 2023) LIVE only on Zeebiz.com, along with management commentary, what to make of the latest trends in attrition, hiring and client deals for the IT giant, the views of Zee Business Managing Editor Anil Singhvi and other experts, and much more:
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INFOSYS GUIDANCE | INFY pegs constant currency revenue growth at 4-7% in 2023-24, margin at 20-22%
India's second largest IT services firm guides for revenue growth of between four per cent and seven per cent for the financial year ending March 2024.
This marks the first guidance by an Indian IT company in the ongoing Q4 results season that began this week.
Infosys Q4 Results | Bengaluru-based IT firm says attrition declines further
Infosys says voluntary attrition in IT services on a last-twelve-months (LTM) basis stands at 20.9 per cent for the quarter ended March 2023. That marks improvement over attrition of 24.3 per cent for the previous quarter and 27.7 per cent for the three months to March 2022.
Read more on Infosys attrition
INFOSYS GUIDANCE | IT major sees revenue growth at 4-7% in constant currency in 2023-24
Infosys guides for operating margin to the tune of 20-22 per cent for the financial year ending March 2024, according to a company statement.
Infosys Q4 Results LIVE | Constant currency revenue down 3.2% vs Q3
Infosys Q4 Results | CEO Salil Parekh says company's strong FY23 performance is testimony to continued focus on digital, Cloud, automation capabilities
Here's what Infosys CEO Salil Parekh says:
- Infosys's strong performance in FY23 is a testimony to continued focus on digital, Cloud, automation capabilities which resonated with its clients
- We have launched exciting programs with our clients leveraging generative AI platforms
- As the environment has changed, we see strong interest from our clients for efficiency, cost and consolidation opportunities, resulting in a strong large deal pipeline
- Infosys has expanded its internal program on efficiency and cost to build a path to higher margins in medium term
- We continue to invest in our people and in supporting our clients
Infosys Dividend | Record date for payout June 2, says IT major
While declaring the final dividend of Rs 17.5 per share, Infosys says the record date for the Annual General Meeting as well as the payment of the final dividend is June 2, 2023.
When will the Infosys dividend be paid?
Infosys says the dividend will be paid on July 3, 2023.
When is Infosys AGM?
Infosys will conduct its 42nd AGM on June 28.
INFOSYS Q4 RESULTS LIVE | INFY EBIT DOWN 4.4% AT RS 7,877 CRORE VS Q3, 5% SHORT OF ZEE BUSINESS ESTIMATE
Infosys was expected to report Rs 8,300 crore in earnings before interest and taxes (EBIT) — a key measure of a company's profitability — for the quarter ended March 2023. For the previous three months (October-December 2022), the IT major had reported EBIT of Rs 8,242 crore.
Infosys Dividend History | Here's a quick recap of Bengaluru-based INFY's dividend announcements in last five years
| Dividend announcement date | Dividend in rupees | Dividend in % | Dividend type | Dividend ex-date |
| April 13, 2023 | 17.5 | 350 | Final | - |
| October 13, 2022 | 16.5 | 330 | Interim | October 27, 2022 |
| April 13, 2022 | 16 | 320 | Final | May 31, 2022 |
| October 13, 2021 | 15 | 300 | Interim | October 26, 2021 |
| April 15, 2021 | 15 | 300 | Final | May 31, 2021 |
| October 14, 2020 | 12 | 240 | Interim | October 23, 2020 |
| April 20, 2020 | 9.5 | 190 | Final | May 29, 2020 |
| October 11, 2019 | 8 | 160 | Interim | October 23, 2019 |
| April 12, 2019 | 10.5 | 210 | Final | June 13, 2019 |
| January 11, 2019 | 4 | 80 | Special | January 24, 2019 |
| October 16, 2018 | 7 | 140 | Interim | October 25, 2018 |
| April 12, 2018 | 20.5 | 410 | Final | June 14, 2018 |
| April 13, 2018 | 10 | 200 | Special | June 14, 2018 |
Infosys Dividend History | Latest dividend of Rs 17.5 per share is Bengaluru-based blue-chip IT co's third in past one year
Yes. Prior to the April 13 announcement of a Rs 17.5 per share dividend, subject to shareholders' approval, Infosys — India's second largest IT company after TCS — has announced two dividends, all in the last one year:
- Infosys announced a dividend of Rs 16.5 per share on October 13, 2022
- Infosys announced a dividend of Rs 16 per share on April 13, 2022
INFOSYS Q4 RESULTS LIVE | DOLLAR REVENUE DOWN 2.3% AT $4,554 MILLION VS PREVIOUS QUARTER
According to Zee Business research, revenue in dollar terms was estimated at $4,738 million for the January-March 2023 period.
INFOSYS Q4 RESULTS | MARGIN SLIPS BY 50 BPS SEQUENTIALLY TO 21%, MARGINALLY BELOW ZEE BUSINESS ESTIMATE
According to Zee Business research, the margin — a key measure of profitability — was estimated at 21.2 per cent for the quarter ended March 2023, marking contraction of 30 bps on a quarter-on-quarter basis.
INFOSYS Q4 RESULTS LIVE | REVENUE AT RS 37,441 CRORE VS RS 38,318 CRORE IN PREVIOUS QUARTER
INFOSYS Q4 RESULTS LIVE | NET PROFIT DOWN 7% AT RS 6,128 CRORE VS Q3, MISSES ANALYSTS' ESTIMATES
Infosys Q4 Results Today | INFY shares continue to struggle below flatline ahead of earnings announcement
Infosys shares decline by as much as Rs 44.7 or 3.1 per cent to Rs 1,383.8 apiece on BSE, ahead of the IT major's earnings announcement later in the day.
Image: BSE