Infosys Q4 net profit down 2.83 per cent Bengaluru

Apr 13(UNI) Homegrown IT major Infosys today reported a net profit of Rs 3603 crore for the fourth quarter ended March 31, 2017, compared with Rs 3708 crore sequentially, a drop of 2.83 per cent.
The total revenues for the quarter stood at Rs 17,120 crore, a decline of 0.89 per cent sequentially and 3.44 per cent year-on-year.
The annual revenues for entire 2016-17 fiscal rose by 9.7 per cent to touch Rs 68,484 crore on rupee terms and rose by 8.3 per cent in constant curency terms sequentially, and declined by 0.9 per cent on YoY basis.
The operating margin was at 24.6 per cent and basic EPS at Rs 15.77 per share.
Operating profit was at Rs 16,901 crore for the entire fiscal with a YoY growth of 8.2 per cent.
Net profit for the fiscal grew by 6.4 per cent to touch Rs 14,353 crore.
The Company’s outlook (consolidated) for the fiscal year ending March 31, 2018, under IFRS the revenues, was expected to grow 6.5 per cent to 8.5 per cent in constant currency and in terms of exchanges rates as on March 31 this year, revenues are expected to grow between 2.5 per cent and .5 per cent
Liquid assets including cash and cash equivalents and investments at Rs 38,773 crore as on March 31, 2017. Dividend for Financial Year 2017, the Board today announced a final dividend of Rs 14.75 per share amounting to Rs 4,078 crore. After including the interim dividend of Rs 11 per share, the aggregate dividend for Financial Year 2017 amounts to Rs 25.75 per share resulting in total payout of Rs 7,119 crore.
Infosys CEO Vishal Sikka, commenting on the results, said unanticipated execution challenges and distractions in a seasonally soft quarter affected the company’s overall performance.
”At the same time, we continued to see many positive signs of our strategy execution; our software-led offerings continued to show strong momentum and client success, with continued adoption of Mana, our AI platform; Zero Distance marked its 2-year anniversary as a grassroots cultural movement for innovation with strong client resonance, and our employee engagement continued to drive down attrition, especially with top performers,” he added.
Chief Operating Officer U B Pravin Rao said looking ahead, it is imperative that the company increase its resilience to the dynamics of our environment and remain resolute in executing our strategy, on the path to transform Infosys, and to drive long term value for all stakeholders.
”Attrition declined during the quarter reflecting our focus on better employee engagement. Utilisation during Q4 reached 82 per cent which is the highest in Q4 over the past several years,” he said.
Attrition came down to 17.1 per cent in Q4 compared with 18.4 per cent in Q3.
Mr M D Ranganath, Chief Financial Officer said the 2016-7 fiscal witnessed operating margins being steady as the company continued with its sharp focus on operational efficiencies.
”Cash provided by operating activities during the year was robust and exceeded USD 2 billion, a new high. Our capital allocation policy is aimed at balancing the strategic and operational needs of the company as well as enhancing shareholder returns,” he said. UNI