Information technology (IT) services major Infosys on Wednesday posted a 17.5 per cent jump in net profit for the March quarter on a year-on-year (YoY) basis, even though it was down 2.3 per cent sequentially.
Infosys’s board also approved a share buyback of up to Rs 9,200 crore. The buyback will be done from the open market and the price per share will not exceed Rs 1,750 crore. This is part of the firm's capital return plan of Rs 15,600 crore, which also includes a final dividend of Rs 6,400 crore.
The country’s second-largest IT services firm forecast annual revenue growth of 12 to 14 per cent in constant currency terms and operating margins in the range of 22-24 per cent for 2021-22, as demand for its digital services grows amid the Covid-19 pandemic.