IT major Infosys on Wednesday reported a 12% year-on-year rise in its consolidated net profit at Rs 5,686 crore for the fourth quarter (Q4FY22) as compared to Rs 5,076 crore a year ago.
Revenue grew around 23% to Rs 32,756 crore in reported quarter as against Rs 26,311 crore in year-ago period.
On Wednesday, the company’s share on BSE closed 0.4% higher at Rs 1,748.65. The company’s board recommended a final dividend of Rs 16 per equity share for the financial year ended March 31, 2022.
The Bengaluru-based IT firm said, “Together with the interim dividend of Rs 15 per share already paid, the total dividend per share for FY22 will amount to Rs 31, which is a 14.8% increase over FY21. With this, the company has announced a total dividend of approximately Rs 13,000 crore for FY22”.
Sequentially, the net profit slipped 2.1% while revenue rose 1.3%. The company has a projected revenue growth outlook of 13%-15% for 2022-23 and an operating margin of 21%-23% in FY23.
Growth was broad-based, supported by continued momentum in large deal wins with a total contract value (TCV) of $9.5 billion in FY23. EPS surged by 15.2% in rupee terms. On a sequential basis, Q4 growth was 1.2% in constant currency with an operating margin of 21.5%. TCV of large deal wins was $2.3 billion in Q4, Infosys said in a stock exchange filing.
Infosys declared gross addition of 110 clients in the March quarter as against 130 additions in the corresponding quarter of the previous year.
It saw voluntary attrition of 27.7% in fourth quarter as against 10.9% in same quarter of fiscal 2021. In the December quarter, the attrition rate was 25.5%. Infosys has hired 85,000 freshers in the financial year and is looking to hire upwards of 50,000 in the current fiscal.
The Indian software giant also said that it is moving its business out of Russia and is pursuing alternate options against the setback of the Ukraine conflict.
In the last fiscal year, Infosys’ net profit was up 14.3% to Rs 22,110 crore, while revenue soared 21% to Rs 1.21 trillion compared to the previous financial year.
“Infosys delivered highest annual growth in a decade with broad-based performance driven by deeply differentiated digital and Infosys Cobalt led cloud capabilities, powered by ‘One Infosys’ approach. We continue to gain market share as a result of sustained clients’ confidence in our ability to successfully navigate their digital journeys”, said Salil Parekh, CEO and MD, Infosys.