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Infosys aims to double its growth in FY22
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Last Updated: Apr 15, 2021, 08:27 AM IST
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Synopsis
Infosys, while declaring its Q4 results and revenue growth guidance on Wednesday, also announced a share buyback worth Rs 9,200 crore and a final dividend payout of Rs 15 per share.
Agencies
Terming Infosys’ growth forecast as “an extremely strong guidance”, CEO Salil Parekh said that “this is coming with a strong foundation and demand is coming through (in) a broad-based way .
INSIGHTS
NSE
Bengaluru | Pune:
Infosys Ltd. said it would double its growth in the current financial year, as India’s second largest software services exporter struck a confident note announcing a Rs 9,200-crore share buyback by paying not more than Rs 1,750 per share.
Updated Apr 15, 2021 | 09:56 IST
Sensex today: Nifty IT, the IT sub-index of NSE, was down 1.30% led by Infosys, which fell over 4%. Sensex today
New Delhi: The BSE Sensex and the Nifty opened higher on Thursday tracking mixed global cues. however, gains were capped as IT stocks led by Infosys witnessed correction after the company reported its fourth quarter earnings yesterday. As of 9:21 am, the Sensex was down 94 points or 0.19% at 48,638.37 and the Nifty50 index was higher by 42.50 points or 0.29% at 14,547.30. Nifty IT, the IT sub-index of NSE, was down 1.30% led by Infosys, which fell over 4%.
Infosys on Wednesday reported a 17.4% jump in fourth quarter profits to Rs 5,076 crore and 13.1% growth in revenue to Rs 26,311 crore. Operating margins stood at 24.5%, an increase of 3.3%. The company grew 2% in dollar terms sequentially over the third quarter.
Essential confusion
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E-commerce firms have appealed to both the
Maharashtra and central governments to lift the state’s ban on delivering non-essential goods. And yesterday evening, authorities in Mumbai clarified that food delivery platforms could continue to operate after 8 pm. Small mercies.
Also in today’s letter:
PhonePe takes stock
E-commerce firms petition govt on Maharashtra curbs
E-commerce firms are appealing to the Maharashtra government and the Ministry of Home Affairs (MHA) to reverse the state government’s order on Tuesday that banned non-essential e-commerce deliveries until May 1.
What’s going on?
Meesho CEO Vidit Aatrey believes there are structural problems in Indian e-commerce as even today, fewer than a million small businesses are selling online.