Infosys' billion dollar buyback fails to enthuse as Q4 earnings disappoint | Editorji
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Infosys' billion dollar buyback fails to enthuse as Q4 earnings disappoint

Apr 15, 2021 10:28 IST | By Editorji News Desk

IT major Infosys reported a muted 2% revenue growth in Q4 revenue which missed the street estimates. The bigger disappointment came on the profitability front as operating margin dropped 90 basis points vs the previous quarter to 24.5%

The company, however, also announced a share buyback of up to ₹9,200 crore at a maximum price of ₹1,750 per share which is a premium of 25% to Tuesday’s closing price. This would be the third buyback by Infosys in the last five years.

The Bengaluru-based tech company has also announced a dividend of ₹15 per share for the year ended March 31.

Business