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Infosys Q3 results 2019: Firm announces dividend of Rs 4, share buyback of up to Rs 8,260 crore

FE Online

India’s major IT behemoth Infosys has approved a special dividend of Rs 4 per share, and also announced buyback under open market route of Rs 8,260 crore at a maximum price of Rs 800 per share. Infosys has reported Q3 results below street estimates as net profit came in 12% down at Rs 3,609 crore, in the Oct-Dec quarter. Notably, the IT major is the second firm to report quarterly results in this quarter from the information technology pack, after India’s largest IT firm TCS reported Q3 results yesterday. The net profit implies a minor miss as compared to CNBC Tv18 poll of Rs 4,115 crore. The total revenues came in 20.3% higher at Rs 21,400 crore. The firm has also approved a special dividend of Rs 4 per share. The firm also announced a buyback under open market route of Rs 8,260 crore at a Maximum price of Rs 800 per share.

Infosys Q3 results: Key figures in a nutshell

  • Infosys has reported a on year revenue growth of 20.3% on-year in INR terms; 10.1% in constant currency terms. The Q3 19 revenues grew sequentially by 3.8% in INR terms; and 2.7% in constant currency terms.
  • The digital revenues came in at $942 million (31.5% of total revenues), implying an on-year growth of 33.1% and sequential growth of 5.0% in constant currency terms.
  • The 9 months revenues grew by 16.6% in INR terms; and 8.1% in constant currency terms.
  • The firm has revised the FY 19 revenue guidance in constant currency upward to 8.5%-9.0%; and retained the Operating margin guidance at 22%-24%.
  • Infosys also announced a buyback under open market route of Rs 8,260 crore at a maximum price of Rs 800 per share.
  • The firm has also announced a special dividend of Rs 4 per share.