IT major Infosys on Wednesday reported a consolidated net profit of Rs 5,686 crore for the March 2022 quarter, a growth of 12 per cent as compared to Rs 5,076 crore in the year-ago quarter. The company’s revenue grew 22.7 per cent to Rs 32,276 crore as against Rs 26,311 crore in the March 2021 quarter.
According to a BSE filing, the company’s total operating expenses grew 12.6 per cent to Rs 3,048 crore during January-March 2022, from Rs 2,707 crore a year ago. Its operating profit jumped 8 per cent to Rs 6,956 crore in the March 2022 quarter, as against Rs 6,440 crore.
The company announced that it would pay Rs 16 per share as final dividend.
In the December 2021 quarter, Infosys reported a 11.8 per cent jump in consolidated net profit at Rs 5,809 crore from Rs 5,197 crore in the same quarter last year. Its revenue from operations grew 22.9 per cent to Rs 31,867 crore during October-December 2021 as against Rs 25,927 crore in the year-ago period.
Analysts at Yes Securities had expected a jump of 26.3 year-on-year (year-on-year) in revenue to Rs 33,219 crore for the quarter ended March 2022. Analysts were also expecting a profit after tax (PAT) of Rs 6,105 crore in the fourth quarter. FY 2021-22 quarter, a year-on-year jump of 20.3 per cent.
As for the information sector as a whole, ICICI Securities in its report said, “Growth of Indian IT companies is expected to moderate in Q4FY22 as seen historically in Q4. Margins are expected to be impacted due to rising employee expenses. The demand environment remained strong led by sustained deal momentum led by sectors like BFSI, Insurance etc. There will be some cross-currency headwinds during the quarter, which will depress dollar revenue, to some extent, in the fourth quarter. ,
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