Infosys Q4 results: Revenue rises over Rs 18000 crore, up 5

Infosys Q4 results today All eyes on new CEO Salil Parekh key things to watch out for

Infosys Q4 results: Revenue rises over Rs 18000 crore, up 5

The payouts to employees come even as the company's attrition touched 20 per cent for the year ended March 2018.

It has also initiated an identification and evaluation of potential buyers for its subsidiaries, Kallidus and Skava and Panaya.

Infosys said it expects revenue for 2018-19 to grow in the range of 6-8 per cent in constant currency terms and 7-9 per cent in United States dollar terms.

The company was also under fire from its founders previous year over the Panaya deal, when the latter had questioned corporate governance practices related to the deal.

Sikka eventually resigned last August fed up with what he called the "constant drumbeat" of accusations that had taken "the excitement and passion of this journey (as Infosys CEO)".

"Within that strategic review, we chose to initiate active interest from external buyers (for Skava and Panaya) as they did not fit all of the criteria", Parekh said.

Infosys explained that during the December 2017 quarter, it had signed an Advance Pricing Agreement with the U.S. administration that had led to reversal of income tax expense provision of Rs 1,432 crore.

"We review functioning of all our subsidiaries every year".

In response to a question, Chief Financial Officer MD Ranganath said the payout would not affect the acquisition strategy of the company.

Parekh, and his team of other senior management, will apprise analysts over the company's strategy over half-a-day on 23 April in Mumbai, according to two executives familiar with the development. The company's approach is to invest in certain spaces within these five areas, he said.

The new capital allocation policy has promised a payout of about United States dollars 2 billion to shareholders.

At close, Infosys stock price was at Rs 1,169.00, up Rs 6.75, or 0.58 percent.

"Accordingly, assets amounting to Rs 2,060 crore (USD 316 million) and liabilities amounting to Rs 324 crore (USD 50 million) in respect of the disposal group have been reclassified and presented as "held for sale", Infosys said.

The company's outlook (consolidated) for the fiscal year ending March 31, 2019, revenues are expected to grow 6%-8% in constant currency; revenues are expected to grow 7%-9% in United States dollars terms based on the exchange rates as of March 31, 2018.

INDEPENDENT DIRECTOR Infosys has also named Biocon chairman Kiran Mazumdar Shaw as the lead independent director of the board.

INKED DIGITAL DEALS WORTH OVER $3 BILLION The company will rely on artificial intelligence and automation to win digital deals, reskill employees and hire more locals in markets such as US, Europe, and Australia. Moreover, given our view of no major strategic shifts, we do not envision major changes in terms of FY2019 guidance.

In the three months as CEO, Parekh has engaged with employees and clients, and set out what he calls "navigating your next" to engage with clients to adopt digital services.

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