Infosys' Q4 net profit rises 2.4 pc

Infosys Q4 net profit falls 28% sequentially to Rs 3690 cr; buys digital creative WongDoody Holding for $75 mn

Meanwhile the company said it has made a decision to sell its subsidiary Panaya - the Israeli firm whose acquisition became a contentious issue between the founders and the erstwhile management led by Vishal Sikka.

On yearly basis, net profit growth for Q4 was 2.4 per cent and revenue growth 5.6 per cent in rupee terms.

Infosys, India's second-largest software exporter, on Friday announced that its net profit for the fourth quarter rose 2.4 per cent to ₹ 3,690 crore compared with the same period last year and forecast revenue to grow between 6-8 per cent in constant currency in the current financial year.

"The acquisition fits into the digital scale up for us". It expects margins will be between 22-24% for the year ahead. The company has forecast a revenue growth of 6-8% in constant currency and 7-9% in dollar terms for FY19. The company said it has signed deals over $3 billion previous year including $905 million in the quarter to March. "This is for both onsite and offshore", Infosys COO Pravin Rao said. In fiscal 2017, it reported profit of Rs 14,353 crore on revenue of Rs 68,484 crore.

Stretch Your Dollar: Filing taxes electronically
Filing for an extension: Is it bad, and is there a penalty? There's also free tax assistance available locally. The affidavit of the IRS petition revealed some telling figures on crypto tax disclosures.

Gorgeous New Art Teases The Road To Avengers: Infinity War
The next films in range are another Marvel classic, The Avengers with $207.4 million, and Jurassic World's $208.8 million. Marvel fans, the wait is almost over.

US Has History Of Meddling In Foreign Elections, Regimes: Russian Embassy
He also vowed to continue "to take real actions to push back, to reset the deterrence relationship with respect to Russian Federation ".

The company was also under fire from its founders past year over the Panaya deal, when the latter had questioned corporate governance practices related to the deal.

"In the quarter ended March 31, 2018, on conclusion of a strategic review of its portfolio of businesses, the company initiated identification and evaluation of potential buyers for its subsidiaries, Kallidus and Skava (together referred to as Skava) and Panaya (collectively referred to as "disposal group")", the Bangalore-based company said on Friday. "It is neither spectacular nor dismal, yet the optimism looming in the background with new leadership bringing in a refreshed strategy focused more strongly on the marketplace rather than internal issues can be sensed in investor sentiment", said Sanjoy Sen, Doctoral research scholar, Aston Business School, UK. The Infosys board also appointed Kiran Mazumdar-Shaw, independent director, as the lead independent director of the board. "Navigating Your Next" is our aspiration of how we will partner with each one of our clients." said Salil Parekh, CEO. Unlike Sikka - who hired a number of executives many from his former employer German software maker SAP - Parekh has preferred to harness the existing leadership at Infosys to build his business. Operating margins stood at 24.3%. After including the interim dividend of Rs 13 per share, the total dividend for Financial Year 2018 will amount to Rs 33.50 per share resulting in a payout of '8,771 crore ($1,349 million) including DDT, which will amount to approximately 70% of free cash flow for the Financial Year 2018.

Net profit rose 2.4% at Rs 3,690 crore. Ranganath said the firm was generating higher margins in digital deals and is looking to sustain this over the coming months.

Related:

Comments

Latest news

QB Sanchez suspended four games for PED violation
Sanchez has yet to find a new team after serving as the Bears third-stringer on a one-year deal last season. He was a starter for NY from 2009-12 and established career bests of 3,474 yards and 26 touchdowns in 2011.

Oil extends gains on the day as key resistance levels give way
Watch Manisha Gupta share insights into crude demand-supply, and what will drive prices. United States crude production also rose to a fresh high of 10.53m barrels per day.

Pregnant woman and her brother assaulted in Luton
She says Haynes then pulled out a gun, pointed it at her stomach, and threatened to shoot her and her sister. As they left the airport, Phipps gave Snipes her phone number and told her to call if she needed anything.

Is Trump Standing Down in Syria?
In the UK , Cabinet ministers said that it was "highly likely" the Assad regime was responsible for the attack. The White House also confirmed that Trump had spoken with French President Emmanuel Macron .

New Star Wars Battlefront 2 mode will let you play as Ewoks
The first is in the same style as the Night on Endor Update that we're releasing on April 18th, and the second is Seasons. Over 50 additional Appearances to personalize your units and heroes will be made available in this update .

Mets catcher Travis d'Arnaud to have Tommy John surgery
Outfielder Brandon Nimmo also returns following a brief stay in Vegas, while right-hander Jacob Rhame was optioned to the 51s. Tomas Nido , recalled from Double-A Birmingham on Wednesday, figures to take over as the primary catcher in the interim.

Wells Fargo & Company (NYSE:WFC): What Does The Future Look Like?
The ABR rank is displayed in the range of 1 to 5 where 1 indicates a Strong Buy and a rating of 5 represents a Strong Sell. Company's EPS for the prior five-years is valued at 1.5%, leading it to an EPS value of 17.57% for the next five years.

Mountain View Police Release Body Cam Video of Interaction With YouTube Shooter
Aghdam was sleeping inside and a check of her records did not reveal any instances or threats of violence. The uncut video at no point shows the officers asking Aghdam whether she was armed.

Supreme Court to examine Shanti Bhushan's PIL on rosters
The observation by the bench came after Dave said, "Four of your colleagues have publicly took note of the failure of the system". Government owes a duty to take a call on the recommendation as soon as the same in sent from the Collegium.

Huey Lewis cancels 2018 shows, including Fenway Park, due to hearing loss
She said she regretted not acting sooner when she felt her hearing "slipping away", and sought to help others by speaking out. I've been to the House Ear Institute, the Stanford Ear Institute, and the Mayo Clinic , hoping to find an answer.

Hero, Dabur offer to invest Rs 1250 crore in Fortis
Other potential bidders are Radiant Life Care, which is backed by KKR & Co, and Dubai-based VPS Healthcare. Earlier in the day, the Fortis stock jumped over 4% on expectations of a formal announcement by IHH.

Paul Ryan endorses Kevin McCarthy as next speaker
He his support behind his current deputy, House Republican leader McCarthy of California, to take over as House speaker. For one thing, an outside candidate like House Freedom Caucus head Jim Jordan could throw a wrench into the race.

Will the House challenge Mark Zuckerberg more than the Senate?
It was a two-day interrogation with dozens of questions - some of them acute, some of them rambling, a few quite weird . There are multiple articles showing you how to change your privacy settings and even delete Facebook altogether.

Google loses 'right to be forgotten' case
Google had refused to remove the links, leading NT2 and another man known as NT1 to take the company to court. However, search engines can decline to remove pages if they judge them to remain in the public interest.

Wet weather into the weekend; even cooler changes
A line of storms are expected to move across the region by 5-8 a.m. and move east toward I-65 by late Saturday afternoon. Severe thunderstorms will be possible in advance of the cold front this afternoon through this evening and overnight.

Other news