Vishal Sikka. Photo: Suryakant Niwate
Indian IT major Infosys on Thursday reported a consolidated net profit of Rs 3603 crore for the quarter ended March 31, 2017 while the board agreed pay up to Rs 13,000 crore, or $2 billion, to shareholders via dividend or share buyback in FY18.
The Infosys board announced a dividend of Rs 14.75 per share.
Effective from financial year 2018, the company expects to payout up to 70 percent of the free cash flow of the corresponding financial year in such manner (including by way of dividend and/or share buyback) as may be decided by the board from time to time.
The company added more clients in the $100 million-plus category.
Consolidated net profit for the Bengaluru-based company rose 0.2 percent to Rs 3603 crore in the quarter, while revenue grew 3.4 percent to Rs 17120 crore.
Infosys expects 2017-18 revenue growth at 6.5-8.5% in constant currency, 6.1-8.1% in US dollar terms.