The net profit of Infosys, the country’s second-largest IT service company, rose 6.3% to Rs 4,335 crore in the March quarter. However, due to the uncertainties caused by the coronavirus, the company has not disclosed any estimate about the company’s earnings in FY 2020-21.
Infosys has told the BSE that the company had a net profit of Rs 4,078 crore in the same period a year ago. The company has stated that its income increased by 8 percent to Rs 23,267 crore in the period January-March 2020. The company had a revenue of Rs 21,539 crore between January and March last year.
“Considering the uncertainty associated with the business due to Covid-19, the company is currently expected to disclose an estimate of earnings and margins in FY 2020-21,” Infosys said in a briefing to the stock markets.
Infosys Q4 net profit up 6.3 pc at Rs 4,335 crore; revenue rises 8 pc to Rs 23,267 crore
— Press Trust of India (@PTI_News) April 20, 2020
Infosys Chief Operating Officer Praveen Rao said that the COVID-19 has had a tremendous impact on the operating model since the last few weeks of March.
Infosys net profit grew by 8 percent to Rs 16,639 crore in FY 2019-20. During this period, the company’s revenue also increased by 9.8 percent to Rs 90,791 crore. The company has decided to pay a final dividend at the rate of Rs 9.50 per share.