Infosys net down quarterly, up yearly

Global software major Infosys reported Rs 4,321 crore consolidated net profit for the fourth quarter (Q4) of fiscal 2019-20, registering 3.1 per cent sequential decline from Rs 4,457 crore a quarter ago and 6.1 per cent annual growth from Rs 4,074 crore a year ago.

In a regulatory filing on the BSE, the city-based IT major said consolidated revenue for the quarter under review (Q4) at Rs 23,267 crore remained flat sequentially (0.8 per cent) from Rs 23,092 crore a quarter ago and rose 8 per cent annually from Rs 21,539 crore a year ago.

Under the International Financial Regulatory System (IFRS), net income declined 5.7 per cent sequentially to $590 million from $626 million a quarter ago but grew 1.9 per cent annually from $580 million a year ago.

Gross income also declined 1.4 per cent sequentially to $3,197 million from $3,243 million but rose 4.5 per cent annually from $3,060 million a year ago. IANS