Infosys has set a target of 12-14 per cent sales growth for the financial year 2021-2022.
On a quarter-on-quarter basis, Infosys’ consolidated revenue grew 2.8 per cent to Rs 26,311 crore. This is also less than anticipated.
On a quarter-on-quarter basis, Infosys consolidated revenue grew by 2.8 per cent to Rs 26,311 crore. This is also less than anticipated. Analysts were expecting consolidated income of Rs 26,701.8 crore.
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12-14% sales growth target for 2021-2022The company has set a target of 12-14 per cent sales growth for the financial year 2021-2022. While it is hoped that the margin band may remain 22-24 per cent during this period. Infosys’ revenue grew 9.6 percent in the March quarter on a year-on-year basis. During this period, profits have increased by 17 per cent. The company’s consolidated operating margin for the quarter ended March was 24.5 per cent. This is 0.90 percent less than the previous quarter.
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Declaration of dividend, Company will buy back share at 25% premium
The board of Infosys had an important meeting on Wednesday before the fourth quarter results. In this meeting, the board has approved a buyback of Rs 1750 per share. This is 25 per cent more than the closing of Infosys shares on 13 April. On April 13, the company’s shares closed at Rs 1402. The company has also announced a dividend at the rate of Rs 15 per share.