BENGALURU (dpa-AFX) - India-based software exporter Infosys Technologies Ltd. (INFOSYSTCH, 500209, INFY) Friday said fourth-quarter attributable profit climbed to $498 million from $487 million reported last year. Earnings per share rose to $0.44 from $0.43.
On average, 10 analysts polled by Thomson Reuters expected earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased to $2.159 billion from $2.092 billion. Analysts expected revenues of $2.24 billion.
CEO & MD Dr. Vishal Sikka said, 'We see the industry going through a fundamental and structural transition. Despite being a challenging quarter, I am encouraged by the early successes in executing our Renew-New strategy, on a foundation of learning. Our focused employee engagement initiatives over the last few months have resulted in containing employee attrition to one of the lowest in recent times.'
Infosys said its board recommended a bonus issue of one equity share for every equity share held and a stock dividend of one American Depositary Share for every ADS held, as on a record date to be determined.
The company's current policy is to pay dividends of up to 40 percent of post-tax profits. The Board has decided to increase the dividend pay-out ratio to up to 50 percent of post-tax profits effective fiscal 2015.
The board recommended a final dividend of 29.50 Indian rupee per share for fiscal 2015. This translates to a final dividend of $ 0.47 per share pre-bonus and $0.24 per share post bonus.
Looking ahead, for the fiscal year ending March 31, 2016, revenues are expected to grow 10-12 percent in constant currency terms.
Revenues are expected to grow 6.2 to 8.2 percent in US dollar terms.
The stock fell 5.3 percent on the Bombay Stock Exchange to 2,010.00 rupee.
Copyright RTT News/dpa-AFX