NEW DELHI: Software services firm Infosys on Wednesday reported 12 per cent jump in its consolidated net profit for the fourth quarter (Q4) ended March 31, 2022.
The company posted a net profit of Rs 5,686 crore for the period under consideration as against a profit of Rs 5,076 crore reported in the same quarter last year.
In terms of quarterly results, Infosys net profit declined by 2.11 per cent as compared to Rs 5,809 crore in December quarter.
The Bengaluru-based company witnessed 22.7 per cent rise in its revenue to Rs 32,276 crore and pegged its revenue growth outlook at 13 per cent to 15 per cent for financial year 2023.
The IT major also said that it will move its business out of Russia and is pursuing alternate options against the backdrop of the Ukraine conflict.
“Seeing the situation we have started the transition of our business and all of our work from the centres from Russia to outside Russia,” Infosys CEO and MD Salil Parekh said while replying to a question on the impact of the Russia-Ukraine crisis on the company’s business in Russia after the release of company’s results.
Parekh said Infosys has less than 100 employees in Russia. “We don’t have clients in Russia. The work we do in Russia is for the global clients, which we have started a transition. At this stage we have no impact on our business from an Infosys perspective,” he said.
However, he said the company is very concerned about the development in the region. “We are very concerned about what’s going on, on the ground,” Parekh said.
He said the company would help its employees in Russia to relocate and work in other geographies, especially in East Europe.
Growth was broad-based, supported by continued momentum in large deal wins with total contract value (TCV) of $9.5 billion, the company said in an official filing with the bourses.
Infosys said large deal signings in the January to March quarter rose to $2.3 billion, from $2.1 billion a year earlier. The company posted 110 gross client additions, compared with 130 additions last year.
“Infosys delivered highest annual growth in a decade with broad-based performance driven by deeply differentiated digital and Infosys Cobalt led cloud capabilities, powered by ‘One Infosys’ approach. We continue to gain market share as a result of sustained clients’ confidence in our ability to successfully navigate their digital journeys,” said Salil Parekh CEO and MD of Infosys.
The board of company recommended a final dividend of Rs 16 per share for financial year ended March 2022.
Together with the interim dividend of Rs 15 per share already paid, the total dividend per share for FY22 will amount to Rs 31 which is a 14.8 per cent rise over FY21.
With this, the company has announced total dividend of about Rs 13,000 crore (approximately $1.74 billion) for FY22, the company said.
Shares of Infosys finished 0.41 per cent higher at Rs 1,749 on the BSE.