Infosys expects 12-14% growth in FY22; closes FY21 with most contracts ever
Clocking 5 per cent growth in constant currency terms for the full-year, Infosys also recorded their highest ever deal wins in a year in FY21
Rukmini Rao | April 14, 2021 | Updated 23:06 IST
Bengaluru-based IT services company Infosys recorded a sequential growth of 2 per cent in constant currency terms during the fourth quarter of FY21 with revenues coming in at $3,613 million. The digital revenue at $1,859 million now makes up for 51.5 per cent of the overall revenues. The operating margin for the company for the quarter stood at 24.5 per cent.
Barring a marginal uptick in business segments like manufacturing and others, the rest of the segments, such as BFSI, retail and communications, remained muted for the quarter. On a full-year basis, the company added over $780 million incremental revenue, growing at 5 per cent in FY21. The full year revenue stood at $13.5 billion, as compared to $12.7 billion i
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.
Infosys: Digital Differentiation and Large Deal Momentum Drive Industry-leading Growth in FY21 prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Mumbai:
Infosys has vested employee stock options (ESOPs) of nearly Rs 40 crore to its top executives, including CEO Salil Parekh and COO Pravin Rao, a filing with US Securities and Exchange Commission (US SEC) showed on Wednesday.
Parekh, who completed three years at the helm of Infosys in January and helped it return to growth mode, received shares worth Rs 4.33 crore while Rao got Rs 1.94 crore of stock.
More than 30 executives, including CFO Nilanjan Roy, HR head Krishnamurthy Shankar, Presidents S. Ravi Kumar and Mohit Joshi also received shares of the company.
In a separate regulatory filing, Janhavi Nilekani, the daughter of Infosys Chairman Nandan Nilekani and part of the promoter group, gifted 777,600 equity shares worth Rs 106 crore to Tanush Nilekani Chandra, her son.
When courts give tax breaks
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startups have asked to be exempted from the so-called ‘
angel tax’. Now, a ruling by the Delhi High Court could protect all startups from this 30% tax, provided they stick to tried-and-tested ways of calculating their valuations.
Elsewhere in today’s letter: Incoming: Social media tax
Delhi High Court gives startups a (tax) break
It’s no secret that, for a variety of reasons, many startups are overvalued. But the Delhi High Court has refused to tar them all with the same brush.