Infosys Q3 net falls 30% to Rs 3,609 crore

Chennai: IT major Infosys has reported a 29.6 per cent y-o-y fall in its net profit at Rs 3,609 crore for third quarter of FY19. The company had posted net profit of Rs 5,129 crore in the corresponding quarter last year. On a sequential basis, Profit After Tax (PAT) fell 12.18 per cent.

The company also announced special dividend of Rs 4 and fixed 25 January as record date for it and 28 January as its payment date.

In line with expectations, the company’s board approved buyback of shares. The company said it would buyback 103,250,000 equity shares, which accounts for 2.36 per cent of the paid-up capital of the company as of 31 December, 2018 (on a standalone basis). The buyback size stands at Rs 8,260 crore at a maximum price of Rs 800 per share.

Revenues for the quarter grew 20.3 per cent y-o-y in rupee terms, while in constant currency terms, revenue grew 10.1 per cent. Digital revenues came in at $942 million, up 33.1 per cent, the firm said.

NT Bureau