Infosys approves share buyback of up to Rs 9,200 crore at Rs 1,750 per share

Representative Image

Infosys on April 14 approved share buyback at Rs 1,750 per share. The country second largest IT services company on Tuesday said that its board approved the share buyback of up to Rs 9,200 crore.

The Indian multinational information technology company said that it crossed a milestone of Rs 1,00,000 crore in revenue in FY 2021.

The firm reported a consolidated profit at Rs 5,076 crore for the quarter ended March 2021, while its consolidated revenue from operations grew to Rs 26,311 crore.

Infosys Q4 profit at Rs 5,076 crore; retains FY22 constant currency revenue, EBIT margin guidance

"Consolidated revenue in constant currency grew by 2 percent and the topline growth in dollar terms was at 2.8 percent quarter-on-quarter," said Infosys.

The dollar revenue growth increased to $3,613 million in March quarter 2021, compared to $3,516 million in previous quarter, the company added.

For the financial year 2021-22, Infosys has maintained its revenue growth guidance in constant currency at 12-14 percent, while retained EBIT margin growth forecast for full year at 22-24 percent, reports CNBC-TV18.

Earlier on Thursday, Infosys inform that ArcelorMittal has chosen it to help accelerate the company's digital transformation journey and enable next- generation application management and business process management (BPM) services for ArcelorMittal Europe.

Infosys will also establish a BPM service in ArcelorMittal Europe's Business Centre of Excellence shared services centre.

"The collaboration will further strengthen Infosys presence in Europe and will enable Infosys to maximise synergies across the ArcelorMittal Group worldwide", the statement said.