Infosys Q4 net profit up 6.3 pct at Rs 4,335 cr; provides no guidance over Covid-19 lockdown

The country's second-largest IT services player Infosys on Monday reported a 6.3 per cent rise in consolidated net profit to Rs 4,335 crore for March 2020 quarter. However, Infosys suspended guidance on revenues and margins for FY21 due to business uncertainty amid COVID-19 outbreak. 

The company had posted a net profit of Rs 4,078 crore in the year-ago period as per IFRS accounting norms, Infosys said in a BSE filing.

Its revenue grew 8 per cent to Rs 23,267 crore in the quarter under review from Rs 21,539 crore in the corresponding period last fiscal, it added.

Infosys CEO and MD Salil Parekh said Infosys team has achieved 93 per cent remote working on Monday and ensuring consistent service delivery for clients in this rapidly changing environment.

“We completed a satisfying year on multiple counts – growth in all verticals and geographies, significant increase in large deal wins, good client mining and operational discipline”, company's Chief Operating Officer (COO) Pravin Rao said.

"Impact caused by COVID-19 since last few weeks of March has 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 added.

“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 cash, backed by accelerated
cost take-outs and operational rigor”, said Nilanjan Roy, CFO. “The final dividend of Rs 9.50 per share is a testimony of a strong free cash flow performance for FY 20,” the COO further said.

The company today announced its results for the final quarter after market hours.

See Zee Business Live TV Streaming Below:

Infosys shares today ended the day at 652.90 on the Sensex, up by almost 3.7 percent from the previous close.