BANGALORE, INDIA: Indian IT bellwether Infosys Wednesday declared an interim dividend of Rs 15 per share of Rs 5 at par or 300 per cent for the first six months (April-September) of this fiscal (2011-12).
In a regulatory filing, the company said the interim dividend would be paid Octorber 24.
The company paid Rs 40 per share interim dividend, including Rs 30 per share as special dividend, to mark its 30th year.
Buoyed by robust performance in the second quarter (July-September) and beating its guidance, Infosys revised revenue outlook for this fiscal (2011-12) once again projecting six percent higher growth year-on-year (YoY).
As a result, the global software major revised its outlook for the entire fiscal to Rs 33,795 crore, projecting 23 per cent YoY growth as against Rs 32,044 crore given in July with 17 per cent YoY growth as per the Indian accounting standards.
This is the second time the company revised its fiscal guidance in six months upwards by Rs 1,796 crore ($367 million) to Rs.33,795 crore from Rs.31,999 crore given April 15 with 16.4 percent YoY growth.
"The global macroeconomic environment is still uncertain. It is and should be a concern for the IT industry. In this scenario, clients are looking for new opportunities for growth, accelerated innovation and increased returns on investments," Infosys Chief Executive SD Shibulal said in a statement.
As a result, the company's blue chip scrip gained 5.4 per cent on the Bombay Stock Exchange (BSE) in the first three hours of trading with its Rs 5 per share zooming to Rs 2,645 from opening rate of Rs 2,601 and Tuesday's closing rate of Rs 2,509.
Posting net profit of Rs 1,906 crore for the quarter under review (Q2), which is up 10 per cent YoY and 11 per cent sequentially, the company's 's consolidated revenue grew 17 percent YoY to Rs.8,099 crore and eight percent sequentially.
The global software major July 12 projected revenue of Rs.7,755 crore with 12 percent YoY growth for the second quarter.
Similarly, earnings per share (EPS) at Rs.33.36 is 10 percent higher YoY and 11 percent sequentially.
Under the International Financial Regulatory System (IFRS), net income at $411 million is 10 per cent up YoY and seven per cent sequentially, while revenue grew 17 percent YoY to $1.75 billion and 4.5 percent sequentially.
Earnings per share (EPS) for fiscal is expected to be Rs 144, projecting 21 per cent YoY growth and nine percent higher than previous guidance. For this quarter (Q3), EPS is expected to be Rs.39, up 25 percent YoY.
For the third quarter (Oct-Dec) of this fiscal, consolidated revenue is expected to be around Rs 8,919 crore, projecting 26 per cent YoY growth.
Under the International Financial Regulatory System (IFRS), revenue for FY 2012 is expected to be $7.14 billion, projecting 18 percent YoY growth, same as earlier.
For the third quarter (Q3) consolidated revenue under IFRS is set to be $1.8 billion, which will be 15 percent YoY growth.
"Our strategic initiatives and organisation structure will enable us to build long-term partnerships with our clients and help them drive their business objectives," Shibulal, who took over the top post in August, said.
The company added 45 clients during the quarter as against 26 in the previous quarter (April-June) and 27 year ago, taking the total number of active clients to 647 from 628 quarter ago and 592 year ago.
For the first time in many quarters, the company bagged a $300-million client during the second quarter. Repeat business accounted for 98.5 per cent of the revenue, with 35 per cent of revenue coming from its flagship BFSI (banking, financial services and insurance) vertical, followed by retail and life sciences (23 per cent) and energy utilities, communication & services (22 per cent).
The company's cash reserves, including investments increased to Rs 18,601 crore ($3.8 billion) from Rs 17,388 crore ($3.6 billion) year ago at the current dollar rate of Rs.49.
"The global currency market continues to remain highly volatile on the back of weak economic recovery in most of the developed markets," Chief Financial Officer V Balakrishnan said.
"Our continued focus on adding measurable value to clients, coupled with our flexible financial model will enable us to make the right investments without compromising on high-quality growth," Balakrishnan added.