New Delhi: India’s second-largest software services company, Infosys, on Wednesday reported a 12 per cent rise in its net profit for the March-quarter 2021-22 as it won more contracts from global businesses while expanding its digital presence, Reuters According to the report of.
The Bengaluru-headquartered firm’s consolidated net profit stood at Rs 5,686 crore ($746.87 million) for the quarter ended March 31, 2022, up from Rs 5,076 crore a year ago. Revenue from operations increased to Rs 32,276 crore, a growth of 23 per cent against Rs 26,311 crore recorded during the same period last year.
According to the news report, cloud services also contributed to the increase in earnings.
The company said its board has recommended a final dividend of Rs 16 per equity share for the financial year ended March 31, 2022.
Infosys’ net profit grew 14.3 per cent to Rs 22,110 crore in the last fiscal, while revenue grew 21 per cent to Rs 1.21 lakh crore in the previous fiscal.
Salil Parekh, CEO and MD, Infosys said, “Infosys has delivered the highest annual growth in a decade, with broad-based performance driven by highly differentiated digital and Infosys Cobalt-led cloud capabilities. We We continue to gain market share as a result of our continued customers’ confidence in our ability to successfully navigate their digital journey.
The software services firm said in a stock exchange filing, “Growth was broad, supported by continued momentum in big deal wins with TCVs of $9.5 billion in FY13. In rupee terms, EPS grew by 15.2 per cent. Q4 sequential growth was 1.2 percent in constant currency with operating margin of 21.5 percent. The TCV of big deal wins was $2.3 billion in Q4.”
Infosys also said on Wednesday that it was moving its business out of Russia and exploring alternative options in the backdrop of the Ukraine conflict. Several other global IT and software players, including Oracle Corp and SAP SE, have either suspended or halted all operations in Russia.
On Wednesday, the company’s stock closed 0.4 per cent higher at Rs 1,748.65 on the BSE.