Infosys Q4 net profit up 6.3% at Rs 4,335 cr, revenue rises 8%; suspends FY21 guidance citing uncertainty

The country's second-largest IT services player Infosys on Monday reported a 6.3 percent rise in consolidated net profit to Rs 4,335 crore for March 2020 quarter

Press Trust of India April 20, 2020 18:01:14 IST
Infosys Q4 net profit up 6.3% at Rs 4,335 cr, revenue rises 8%; suspends FY21 guidance citing uncertainty

New Delhi: The country's second-largest IT services player Infosys on Monday reported a 6.3 percent rise in consolidated net profit to Rs 4,335 crore for March 2020 quarter, and said it is unable to provide revenue outlook for FY21 due to business uncertainty amid COVID-19 outbreak.

The company had posted a net profit of Rs 4,078 crore in the year-ago period as per IFRS accounting norms, Infosys said in a BSE filing.

Its revenue grew 8 percent to Rs 23,267 crore in the quarter under review from Rs 21,539 crore in the corresponding period last fiscal, it added.

"Considering the business uncertainty emanating from COVID-19 , the company is unable to provide guidance on revenues and margins for FY21 at this stage. The company will provide guidance after visibility improves," the filing said.

Infosys CEO and MD Salil Parekh said Infosys team has achieved 93 percent remote working on Monday and ensuring consistent service delivery for clients in this rapidly changing environment.

"While the immediate short-term will be challenging, looking ahead, we can see that there is a strong interest to consolidate with partners with high-quality and agile service delivery and strong financial resilience. I am confident we will emerge from this stronger," he added.

Infosys COO Pravin Rao said the impact caused by COVID-19 since the last few weeks of March has led to "significant displacement" in the operating model while severely testing business continuity plans of companies.

Infosys FY20 net profit was up 8 percent to Rs 16,639 crore, while revenue up 9.8 percent to Rs 90,791 crore from last fiscal. The company has declared a final dividend of Rs 9.50 per share.

Updated Date:

also read

Over 3.09 crore unutilised vaccine doses available with states and private hospitals, says Centre
India

Over 3.09 crore unutilised vaccine doses available with states and private hospitals, says Centre

It said that more than 45.37 crore vaccine doses have been provided to states and UTs so far through all sources and a further 59,39,010 doses are in the pipeline

COVID-19 vaccine production increasing, India may be first country to have DNA-based jab, Mansukh Mandaviya tells RS
India

COVID-19 vaccine production increasing, India may be first country to have DNA-based jab, Mansukh Mandaviya tells RS

Replying to a short discussion on COVID-19 management in Rajya Sabha, the minister said technology transfer to several companies has started and they will begin production in the coming days

Tokyo Olympics 2020, Form Guide: Tracking Indian women's hockey team over last two years
Sports

Tokyo Olympics 2020, Form Guide: Tracking Indian women's hockey team over last two years

Tracking the Indian women's hockey team's fortunes over the last two years heading into Tokyo 2020 Olympics