Infosys will execute its strategy around 4 pillars: Salil Parekh

TIL Desk/Business/Bengaluru/ Infosys Ltd on Friday reported a 2.4 per cent rise in the March quarter net profit and projected better revenues in FY’19 as it focuses on digital business and increasing localisation in key markets like the US and Europe.

Eight month into the job, Nandan Nilekani decided to shed Panaya, the Israeli firm whose $200 million acquisition had become a bone of contention between the former management led by Vishal Sikka and high-profile founders like N R Narayana Murthy. Also, the Board will pay up to Rs 13,000 crore to shareholders including Rs 2,600 crore through special dividend.

Other routes will be decided later for the remaining Rs 10,400 crore, as the company looks to meet shareholder demands for higher returns. Infosys will also continue with its policy of returning up to 70 per cent of its free cash.

Infosys on Friday reported a consolidated net profit of Rs 3,690 crore, or Rs 16.98 per share, in January-March 2018 quarter as compared to Rs 3,603 crore, or Rs 15.77 a share in the same period a year back.