NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / Infosys beats market estimates; Q4 net up 16.2% at Rs.3,597 crores
    Business

    Infosys beats market estimates; Q4 net up 16.2% at Rs.3,597 crores

    Infosys beats market estimates; Q4 net up 16.2% at Rs.3,597 crores
    Written by Shiladitya Ray
    Edited by Vaneet Randhawa
    Apr 16, 2016, 10:27 am 3 min read
    Infosys beats market estimates; Q4 net up 16.2% at Rs.3,597 crores
    Credits

    Infosys CEO declared a 16% rise in the fourth-quarter net profit of the company. Its consolidated net profit rose from Rs.3,097 crores (2015) to Rs.3,597 crores ($540.07 million) in its fiscal fourth quarter to March 31. This is the fourth quarter where Infosys has beaten the analysts' estimation. The company's revenue rose to Rs.16,550 crore i.e. 23.4 per cent.

    Infosys soars past expectations

    Infosys soared past expectations in the July-September 2015-16 quarter, with net profit rising by 12% from Rs.3,030 in the previous quarter to Rs.3,398 crore. The company's consolidated revenue increased by 8.9% to stand at Rs.15,635 crore. Infosys' dollar revenue also increased by 6%- from $2,256 million to $2,392 million, and would have been higher had a $23 million client not terminated a contract.

    Infosys' Q2 achievements

    In the July-September quarter, Infosys added 82 clients, taking their total up to 1,011, with 3 clients in the $75 million bracket, and 1 in the $50 million bracket. It signed 5 deals worth $983 million. It added 8,453 employers, taking the total employees up to 1.9 lakh people. It declared an interim dividend of Rs.10/share. Exchange gain for the quarter was $800 million.

    Growth in liquid assets

    Infosys' liquid assets, as of 30 September 2015, stood at Rs.32,099 crore, up from last quarter's Rs.30,225 crore. Per capita income increased 2.6% in reported terms, and 3.4% in constant currency terms. Goods and Services Tax Network (GSTN) in India awarded a Rs.1,380 crore contract to Infosys to build and maintain GSTN system for 5 years. Share prices touched Rs.1219 before falling to Rs.1108.90.

    What is attrition rate?

    A company's attrition rate determines the percentage of employees leaving a business over a specified period of time. It includes both voluntary and involuntary termination of employment including retirements, dismissals, layoffs and resignations.

    Downsides of July-September quarter

    Inspite of Infosys' phenomenal growth in the July-September quarter of 2015, there were certain downsides. Attrition rate or employee turnover rate for the quarter inched up to 19.9% from 19.2% in the previous quarter. Brokerage house Kotak Securities feels a big area of concern could be the attrition in senior management of Infosys. Tax expenses also surged by 18% in the July-September quarter.

    Infosys CFO steps down

    The Chief Financial Officer of IT giant Infosys, Rajiv Bansal who took over in 2012, stepped down on 12 October 2015, and is set to resign from services of the company effective from 31 December 2015. The Executive Vice President of Infosys, Ranganath Dwarkanath Mavinakere is set to take over as the CFO. The announcement came after Infosys' second quarter earnings exceeded expectations.

    Who is Rajiv Bansal?

    Rajiv Bansal, who took over as Infosys' CFO in October 2012, had been associated with the company for 15 years, and holds a M.Tech degree from IIT Madras and a MBA degree from IIM Ahmedabad.

    Infosys Q3 results

    Infosys announced a 1.97% quarter-on-quarter (qoq) and 6.6% year-on-year (yoy) growth in its net profit figures to Rs.3,465 crore for the quarter that ended December 30,2015. Infosys' consolidated earnings took a leap 15.26 per cent yoy and 1.70 per cent qoq to Rs.15,902 crore. However, the operating profit of the company declined a little to Rs.3,959 crore for the quarter.

    3 new Presidents for Infosys

    After the Q4 earnings announcement, Infosys declared Mohit Joshi, Ravi Kumar S and Sandeep Dadlani as new Presidents of the company (they were previously designated as executive vice Presidents).

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest

    Latest

    These desi destinations will give you perfect international feels Travel And Tourism
    Meta will discontinue its to-do list app 'Move' in March Meta
    Jackie Shroff birthday special: Iconic roles that defined his career  Bollywood
    Here's how you can break 5 negative thought patterns Mental Health

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023