Infosys Q4 net down 4.7% q-o-q at Rs 3,097 crore

Dollar revenue growth for FY16 projected at 10-12%, bonus share issue of 1:1

India's second largest informtion technology services company Infosys today posted a net profit of Rs 3,097 crore for January-March 2015 (Q4), up 3.5% on-year, but 4.7% lower on a quarter-on-quarter basis.

Revenue for Q4 rose 4.2% on-year to Rs 13,411 crore, however was down 2.8% on a sequential basis.

The company cheered investors as it pegged its dollar-revenue growth for FY16 at 10-12%, which is marginally higher than Street expectations, but still lower than industry body Nasscom's guidance for the sector at 12-14%. Most brokerages expected Infosys to guide for a 7-11% revenue growth in FY15.

In dollar terms, Infosys posted a 15% growth in net profit for FY15 at $2,013 million, while its revenue rose 5.6% to $8,711 million, missing the company's guidance. The Bengaluru-based company had pegged revenue growth for FY15 at 7-9%.

Additionally, the company announced a bonus share issue in the ratio of 1:1.

For FY15, the company's net profit grew 15.8% to Rs 12,329 crore, while its revenue rose 6.4% to Rs 53,319 crore. 

"We see the industry going through a fundamental and structural transition,” said Vishal Sikka, chief executive officer and managing director of Infosys. “Despite being a challenging  quarter, I am encouraged by the early successes in executing our Renew-New strategy, on a foundation of learning. Our focused employee engagement initiatives over the last few  months have resulted in containing employee attrition to one of  the lowest in recent times. And our  investments in innovation and in renewing our capabilities are helping to elevate our client relationships.”