Monday, Jun 17 2019 | Time 23:10 Hrs(IST)
image
  • 6 ministers may be axed in MP
  • 21 passengers injured as pick-up van collides with MSRTC bus in
  • MP Minister alleges manipulation of EVMs
  • Nadda appointed BJP's first Working President: PM calls him 'humble and affable'
  • Former Egyptian President Mohamed Morsi died - Reports
  • Junior doctors' strike called off; Guv welcomes amicable settlement
  • NHRC issues notice to Union Health Ministry and Bihar Govt over AES deaths
  • All schools and coaching institutes will remain closed till June 24 due to heat wave in Bihar
  • Dy CM meets heads of various policy & business departments of NABARD
  • Dy CM meets heads of various policy & business departments of NABARD
  • Striking junior doctors call off their indefinite ceasework; Patients' miseries come to an end
  • Women’s safety: MP CM writes to Shah
  • Guv welcomes amicable settlement between govt and doctors
  • Nitish directs authorities to handle efficiently the challenge of AES and heat wave in Bihar
Business Economy


Infosys to buyback equity shares amounting to Rs 8,260 crores

Infosys to buyback equity shares amounting to Rs 8,260 crores

Bengaluru, Jan 11 (UNI) IT major Infosys Board has approved buyback of Equity Shares amounting to Rs 8,260 crore at a price not exceeding Rs 800 per share subject to shareholders' approval by way of Postal Ballot.

The Board which met here has also approved payment of a special dividend of Rs 4 per share.

Infosys CEO and MD Salil Parekh, addressing a press conference here on Friday, said that " with increased client relevance, we saw double digit (10.1%) year-on-year growth in Q3 on a constant currency basis. We also had another strong quarter in our digital business with 33.1% growth and large deals at USD 1.57 billion which gives us confidence entering 2019”, he added.

For the Quarter ended Dec 31 the revenue has touched Rs 21,400 crore, growth of 20.3 per cent YoY and 3.8 per cent QoQ. the operating profit was Rs 4,830 crore, decline by 1.3 per cent of QoQ and growth of 11.8 per cent YoY. Basic EPS was Rs 8.30 decline of 26.4 per cent YoY and 12.2 per cent QoQ. During the first nine month of the current financial year the total revenue has touced Rs 61,137 crore, a growth of 16.6 per cent YoY.

COO Pravin Rao said " Volume growth was strong and revenue productivity was stable despite Q3 being a seasonally weak quarter. We had good growth across geographies and large business segments. Attrition declined during the quarter and we are continuing on the path of increased interventions and employee engagements to reduce it further.”

“We saw significant currency volatility during the quarter and managed it effectively by our hedging strategy”, said Jayesh Sanghrajka, Interim CFO.

The Board has approved re-appointment of Biocon Chief Kiran Mazummdar-Shaw as the lead Independent Director from April 1-2019 to March 22-2023 subject to shareholders approval.

Board Chairman Nandan Nilekani, commenting on re-appointment said that "Kiran has been a pillar of strength to the Board, especially over the last 18 months as steered the company to stability and growth. As chair of the Nominations and Remuneration Committee, she played a critical role in the CEO and CFO selection process. Her continuity, experience and insights are greatly valued by the Board as it guides the company in executing its strategy in the coming years."

UNI MSP SKB1748

More News

Bharti AXA General Insurance posts full-year profitability in FY19

17 Jun 2019 | 8:31 PM

New Delhi, Jun 17 (UNI) Bharti AXA General Insurance has registered its maiden full-year profitability in the financial year 2018-19 with a robust 29 per cent growth ahead of the industry growth rate.

see more..

Huge potential for harnessing tuna, tuna like species in India EEZ : Sibal

17 Jun 2019 | 7:14 PM

Hyderabad, Jun 17 (UNI) Ms Rajni Sekhri Sibal, Secretary, Department of Fisheries, Government of India, said that there was a huge potential for harnessing tuna and tuna like species in the Indian EEZ (Exclusive Economic Zone).

see more..
Honor 20i, priced at Rs 14,999, on Flipkart from Tuesday

Honor 20i, priced at Rs 14,999, on Flipkart from Tuesday

17 Jun 2019 | 6:14 PM

New Delhi, Jun 17 (UNI) Honor, a global leading smartphone e-brand has announced the availability of its recently launched smartphones, Honor 20i and Honor 20.

see more..
5 Paisa com launches brokerage plan for Options trading

5 Paisa com launches brokerage plan for Options trading

17 Jun 2019 | 6:09 PM

New Delhi, Jun 17 (UNI) Discount broker 5Paisa.com on Monday announced the launch of Options – X, brokerage plan for Options Trading, which allows customers to effectively capitalise on market opportunities with higher exposure.

see more..
Rupee down by 10 paise against USD

Rupee down by 10 paise against USD

17 Jun 2019 | 6:07 PM

Mumbai, Jun 17 (UNI) The Rupee on Monday slipped by ten paise to 69.90 against the US Dollar, on rising demand for US Dollars by bankers and importers, dealer at Forex Market informed.

see more..
image