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Second consecutive quarter of double digit growth in constant currency

Bengaluru, India - April 12, 2019

"We have completed the first year of our transformation journey with strong results on multiple dimensions including revenue growth, performance of our digital portfolio, large deal wins, and client metrics. This is a reflection of our increased client relevance stemming from our focus on digital, positioning, and longstanding client relationships", said Salil Parekh, CEO and MD. "Our planned investments have started yielding benefits. As we look ahead into fiscal 2020, we plan to deploy various measures of operational efficiencies across the business."

* FY 19 revenues grew by 7.9% in USD; 9.0% in constant currency

* FY 19 operating margin at 22.8%

* Q4 19 revenues grew year-on-year by 9.1 % in USD; 11.7% in constant currency

* Q4 19 revenues grew sequentially by 2.4% in USD; 2.1% in constant currency

* Q4 19 Digital revenues at $1,035 million (33.8% of total revenues), year-on-year growth of 41.1% and sequential growth of 9.7% in constant currency

* Announces final dividend of '10.50 per share

* FY 20 revenue guidance in the range of 7.5%-9.5% in constant currency

* FY 20 Operating margin guidance in the range of 21 %-23%

Financial Highlights- Consolidated results under International Financial Reporting Standards (IFRS)

For the Quarter ended March 31, 2019

Revenues were $3,060 million, growth of 9.1% YoY and 2.4% QoQ

Operating profit was $658 million, decline of 5.1% YoY and 2.6% QoQ#

Basic EPS was $0.13, growth of 1.6% YoY and 15.5% QoQ

For the Year ended March 31, 2019

Revenues were $11,799 million, growth of 7.9% YoY

Operating profit was $2,696 million, growth of 1.4% YoY

Basic EPS was $0.51, decline of 8.2% YoY* @

"We had another quarter of over $1.5 bn large deal TCV in Q4, as a result of which FY 19 TCV doubled over FY 18. Realization per billed employee was steady which reflects increasing usage of automation in core services and faster growth in newer digital services", said Pravin Rao, COO. "Overall attrition remains high and we are continuing our focus on arresting the same."

"Cash generation in FY 19 was strong and Dividend Per Share increased by 4.5%. During the quarter, we completed the payout of special dividend in January and initiated the share buyback program," said Nilanjan Roy, CFO. "We had another quarter of forex gains thanks to our proactive hedging strategy."

Capital Allocation

* During Q4 19, completed payment of special dividend of '4 per share announced in January, 2019.

* Initiated buyback from March 20, 2019 after receiving all requisite approvals. Out of total buyback size of '8,260 crore, the company has bought back shares worth '1,546 crore so far.

* For the Financial Year 2019, the Board has recommended a final dividend of '10.50 per share ($0.15 per ADR*).

After including the interim dividend of '7 per share, the total dividend for Financial Year 2019 will amount to '17.50 per share.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an Al-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.
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Title Annotation:Leading Companies
Publication:US Software & IT
Date:May 1, 2019
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