Infosys Forecasts Revenue To Rise By 6% To 8% In FY19

Infosys on Friday forecast its revenue in the current fiscal year would rise by 6 to 8 percent as India's second-biggest software services exporter said it would pay shareholders a special dividend.

The results were the first for a full quarter under chief executive Salil Parekh who joined Infosys in January with the task of restoring growth and ensuring peace between Infosys founders and the board after an acrimonius spat last year.

The forecast for full-year revenue growth was slightly below brokerage firm Macquarie's 6.5 to 8.5 percent forecast.

Also Read: Infosys CEO Salil Parekh Delivers In His First Quarter, Net Profit At Rs 3,690 Crore

The IT firm said it would stick to its policy of returning up to 70 per cent of its free cash, adding that it had identified up to 130 billion rupees which would be paid to shareholders including a special dividend payout worth 26 billion rupees.

Net profit rose 2.4 per cent to Rs 3,690 crore ($566 million) in the three months ended March 31, Infosys said.

Eighteen analysts had on average expected net profit of Rs 3,709 crore, according to Thomson Reuters data.

Infosys said its revenue from operations rose by 5.6 per cent to Rs 18,083 crore in the quarter.

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