Information Technology bellwether Infosys Ltd posted a 2.3 percent declines in net profit in the January-March period at Rs 5,076 crore over the December quarter while revenues were up 2 percent sequentially. The company's FY21 net profit was up 16.6 percent to Rs 19,351 crore, while revenue was higher by 10.7 percent to Rs 1,00,472 crore compared to the previous fiscal. Infosys has guided for its sales growing 12-14 percent in constant currency terms in 2021-22 (April-March), while profitability is likely to be in the range of 22-24 percent.

Infosys also announced up to Rs 9,200 crore buyback offer at a maximum price of Rs 1,750 per share. The company registered a 17.5 percent year-on-year growth in net profit during the March quarter while revenues were up 13.1 percent year on year to Rs 26,311 crore in the March 2021 quarter from Rs 23,267 crore in the year-ago period, Infosys said.

Both the sales and operating margin guidance were in line with what analysts had expected. The Bengaluru-based technology major saw sales growing 5 percent on year in constant currency terms in 2020-21, while the operating margin for the year stood at 24.5 percent, an improvement of 320 basis points on year.

Infosys had guided for sales growing 4.5-5.0 percent on year in constant currency terms in 2020-21, while the operating margin was seen in a range of 24-24.5 percent. The company reported its earnings for the March quarter and the year ended March earlier today, and its deal wins surged to an all-time high of USD14.1 bln during the year.

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