Infosys Q3 net profit falls 30% to Rs 3,610 crore

IT major Infosys said its net profit declined by nearly 30 per cent to Rs 3,610 crore during the December 2018 quarter, even as it announced a share buyback plan of up to Rs 8,260 crore.

The country's second-largest software services firm had registered a net profit of Rs 5,129 crore in the October-December 2017 quarter, Infosys said in a BSE filing.

The Bengaluru-based firm's revenue, however, grew 20.3 per cent to Rs 21,400 crore in the December 2018 quarter as compared to Rs 17,794 crore in the year-ago period.

The board of the company approved a buyback of equity shares from the open market route amounting up to Rs 8,260 crore (about USD 1.18 billion) at a price not exceeding Rs 800 per share, the statement added.

Infosys has also announced a special dividend of Rs 4 per share that would result in a payout of about Rs 2,107 crore (approximately USD 302 million).

The company has revised upwards its FY2018-19 revenue guidance in constant currency to 8.5-9 per cent, it said.