Infosys to grow 9% in FY 2019; net dips in Q4

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Bengaluru, April 13 (IANS) Global software major Infosys Ltd on Friday projected a robust revenue growth of 9 per cent in dollar terms for fiscal 2018-19 despite its net profit declining 28 per cent sequentially in the fourth quarter of 2017-18.

“Consolidated revenues are expected to grow 7-9 per cent in dollar terms and 8.2-10.2 per cent in rupee terms for fiscal 2018-19, said the city-based IT firm in a regulatory filing on the BSE.

The revenue guidance is based on US dollar rate of Rs 65.18 on March 31.

Operating margin is expected to be in 22-24 per cent range.

The outsourcing firm’s consolidated revenue for fiscal 2017-18 was Rs 70,522 crore in rupee terms and $10,939 million in dollar terms, which is 3 per cent and 7.2 per cent up over the corresponding revenues of 2016-17.

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The company reported 28.1 per cent sequential decline in consolidated net profit to Rs 3,690 crore for the fourth quarter in rupee terms.

Consolidated revenue for the quarter under review was up 1.6 per cent sequentially to Rs 18,083 crore in rupee terms.

On yearly basis, net profit growth for Q4 was 2.4 per cent and revenue growth 5.6 per cent in rupee terms.

Under the International Financial Reporting Standards (IFRS) in dollar terms, consolidated net income also declined 28.1 per cent sequentially to $571 million but gross income was up 1.8 per cent sequentially to $2,805 million.

On yearly basis, net income, however, grew 5.3 per cent and gross income grew 9.2 per cent for the fourth quarter in dollar terms under the IFRS.

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For the just-concluded fiscal (2017-18), consolidated net profit grew 11.7 per cent year-on-year to Rs 16,029 crore in rupee terms and 16.2 per cent to $2,486 million in dollar terms.

“Net profit for the year included positive impact of an advance pricing agreement with the US Internal Revenue Service in the third quarter,” said the company in a statement later.

Operating profit for the fourth quarter at Rs 4,472 crore grew 3.5 per cent sequentially and 6.2 per cent annually, while operating margin was up fractionally to 24.7 per cent from 24.3 per cent in the third quarter.

Operating profit for the fiscal at Rs 17,148 crore grew 1.5 per cent over last year, while operating margin for the year was 24.3 per cent.

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Digital offerings contributed 25.5 per cent ($2.79 billion) to the annual revenue of $10,939 million.

–IANS

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