Infosys shares plunged 8.96% to Rs 1592.05 as the IT firm’s consolidated net profit declined 2.1% to Rs 5,686 crore in Q4 FY22 over Q3 FY22, despite a 1.3% growth in revenues to Rs 32,276 crore.

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Meanwhile, Infosys’ net profit and revenue climbed 12% and 22.7%, respectively, year on year in Q4 FY22. For the quarter ending March 31, 2022, the company recorded revenues of $4,280 million, an increase of 18.5% year on year. In constant currency terms, revenues increased by 20.6% year on year and 1.2% quarter on quarter.

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The operating margin for the quarter was 21.5%, down 3% year on year and 2% quarter on quarter. Free cash flow (FCF) was Rs 5,769 crore for the quarter ended March 31, 2021, down 0.9% year on year, while FCF conversion was 101.3% of net profit.

In Q4 FY22, Infosys reported broad-based growth, fueled by strong momentum in large deal wins, with a total contract value (TCV) of $2.3 billion.

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In the year ending March 2022 (FY22), Infosys’ consolidated net profit increased 14.3% to Rs 22,110 crore, owing to a 21.1% growth in revenues to Rs 121,641 crore (FY21). 

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As of March 31, 2021, the attrition rate for IT services was 27.7%, compared to 25.5% as of December 31, 2021, and 10.9% as of March 31, 2020. The board of directors has recommended a final dividend of Rs 16 per share for FY22.

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So far, 4.22 lakh shares have been traded on the BSE, compared to an average daily turnover of 2.59 lakh shares in the previous month. On January 17, 2022, the stock reached a new high of Rs 1953.7. On May 14, 2021, the stock hit a 52-week low of Rs 1311.8.