Infosys Q3: Company raises FY19 revenue guidance; approves share buyback

The company's board approved buyback of 10.32 crore shares, comprising approximately 2.36 per cent of the paid-up capital of the company as of December 31, 2018 for up to Rs 8,260 crore.

Infosys, India's second largest IT services firm, on Friday reported a mixed set of numbers for the third quarter of FY19. While the company disappointed on net profit  and margin fronts, it raised FY19 growth guidance. In sync with expectations, the Bengaluru-headquartered company announced special dividend and Rs 8,260 crore share buyback through open market route.  

The management said Infosys saw strong volume growth and stable revenue productivity despite Q3 being a seasonally weak quarter. It said the company managed currency volatility effectively during the period through hedging strategy.

"We had good growth across geographies and large business segments”, said Pravin