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Infosys board to consider share buyback proposal on April 14

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Infosys board to consider share buyback proposal on April 14

NEW DELHI: Flushed with cash, IT companies are finding different ways to reward their shareholders. on Sunday said its board will also decide on a buyback programme, along with March quarter earnings, in its next board meeting.

“The Board of the Company will consider a proposal for buyback of fully paid-up equity shares of the Company at its meeting to be held on April 14, 2021,” the company said in a regulatory filing.

Infosys is likely to report a flat-to-negative sequential growth in March quarter profit on a 2-4 per cent quarter-on-quarter (QoQ) rise in sales. Sequentially, growth in dollar revenues and in constant currency (CC) terms is likely in 3-5 per cent range.

The IT major is seen logging a marginal fall in Ebit margin sequentially due to wage hikes, higher travel & facility cost partially offset by automation and offshoring.

Shares of the company have been on an upward trend ahead of earnings. In the last one month, the stock has gone up 7.10 per cent.

On a YoY basis, profit growth is seen around 15-22 per cent for the quarter on a 12-14 per cent rise in sales. To be sure, the fourth quarter is usually a seasonally weak one for Infosys.

Analysts largely expect the Bengaluru-based technology firm to guide for FY22 constant currency revenue growth of 12-15 per cent and an Ebit margin guidance of 22-25 per cent for the financial year.

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