Infosys, the country's second largest IT company, on Monday reported a sequential decline of 3.05 per cent in net profit for the January-March period to Rs 4,321 crore. Infosys had reported a net profit of Rs 4,457 crore for the previous quarter. In a regulatory filing post-market hours, Infosys said its revenue from operations was Rs 23,267 crore in the fourth quarter of financial year 2019-20, up 0.76 per cent compared to Rs 23,092 crore in the quarter ended December 31.
Bengaluru-based Infosys said its revenue declined 1.4 per cent in dollar terms, and 0.8 per cent in constant currency terms. Revenue from digital services came in at $1,341 million, up 2.6 per cent on a quarter-on-quarter basis.
For financial year 2019-20, the company said its revenue rose 8.3 per cent to $12,780 million while operating profit grew 1 per cent to $2,724 million, and operating margin stood at 21.3 per cent, Infosys said.
"We had an exceptional year in financial year 2020 with growth of 9.8 per cent and operating margin of 21.3 per cent. While the immediate short-term will be challenging, looking ahead, we can see that there is a strong interest to consolidate with partners with high-quality and agile service delivery and strong financial resilience. I am confident we will emerge from this stronger," said Salil Parekh, managing director and CEO, Infosys.
Infosys did not give a revenue guidance for the coming quarters.
"Considering the business uncertainty emanating from COVID-19, the company is unable to provide guidance on revenues and margins for FY21 at this stage. The company will provide guidance after visibility improves," Infosys said in a press release.
Infosys shares ended 3.75 per cent higher at Rs 652.90 on the BSE ahead of the earnings announcement, outperforming the benchmark S&P BSE Sensex index which rose 0.19 per cent.
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