Infosys Loses Over 3% Post Q4 Numbers

Infosys shares are trading lower by over 3 per cent in a weak market a day after announcing its Q4 numbers. The country's second largest software services company, on Wednesday, reported an annual increase of 17 per cent in net profit at Rs 5,076 crore on the back of large contract wins as the COVID-19 pandemic drove digitisation efforts in multiple sectors. At 10:15 am, the shares of Infosys were trading at Rs 1,353.25, lower by Rs 43.90 or 3.1 per cent, on the BSE.

The Bengaluru-based company had reported profit of Rs 4,335 crore during the same quarter last year.

However, on a sequential basis, the company's profit registered a decline of 2.32 per cent.

Meanwhile, Infosys' board of directors approved a share buyback proposal of Rs 9,200 crore and a final dividend of Rs 15 per share.

The BSE Sensex was trading at 48,247.99, weaker by 295.95 points or 0.60 per cent and the NSE Nifty was at 14,421.40, down 83.75 points or 0.57 per cent at the time.