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Infosys Q3 profit falls 12%; FY19 CC revenue growth forecast raised to 8.5-9%; buyback approved

11 January, 2019 10:56 AM
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Infosys Q3 profit falls 12%; FY19 CC revenue growth forecast raised to 8.5-9%; buyback approved

The revenue has been reported at Rs 21,400 crore, a rise of around 4 percent compared to the previous quarter of Rs 20,609 crore.

IT major Infosys' reported 12 percent quarter on quarter (QoQ) decline in December quarter net profit to Rs 3,609 from Rs 4,110 crore last quarter.

The revenue was at Rs 21,400 crore, up around 4 percent over the previous quarter's Rs 20,609 crore.

The earnings before interest and taxes (EBIT) was at Rs 4,830 crore, while the EBIT margin was 22.6 percent. The company has maintained FY19 EBIT margin guidance at 22-24 percent.

The dollar revenue grew 2 percent quarter-on-quarter to $2,987 million.

The constant currency revenue growth was 2.7 percent. Interestingly, the company raised its FY19 constant currency guidance to 8.5-9 percent from 6-8 percent.

The company announced a buyback of Rs 8,260 crore via the open market at a maximum price of Rs 800 apiece and announced a special dividend of Rs 4 apiece.

Source: moneycontrol.com

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