Infosys, India’s second largest IT firm, on Friday reported 29.62 per cent drop in consolidated net profit at Rs 3,610 crore for December quarter. The IT firm had posted Rs 5,129 crore profit in the corresponding quarter last year, the company said in a BSE filing. The company announced a share buyback under open market route of Rs 8,260 crore at a maximum price of Rs 800 per share. It also announced a special dividend of Rs 4 per share..
Infosys, India’s second largest IT firm, on Friday reported 29.62 per cent drop in consolidated net profit at Rs 3,610 crore for December quarter. The IT firm had posted Rs 5,129 crore profit in the corresponding quarter last year, the company said in a BSE filing. The company announced a share buyback under open market route of Rs 8,260 crore at a maximum price of Rs 800 per share. It also announced a special dividend of Rs 4 per share.
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Country’s biggest carmaker Maruti Suzuki on Friday posted 17.21 per cent year-on-year dip in profit at Rs 1,489.30 crore for the quarter ended December 31. The firm had posted a profit of Rs 1,799 crore in the corresponding quarter last year.
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Asian Paints on Thursday reported a 1.6 per cent year-on-year fall in consolidated profit after minority interest at Rs 473.11 crore, falling short of Rs 595 crore projected by analysts in an ET NOW poll. The paints company had reported Rs 480.99 crore profit in the corresponding quarter last year. Consolidated revenue from operations rose 11.7 per cent to Rs 5,018.21 crore from Rs 4,492.30 crore in the year-ago quarter.
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Engineering and construction major Larsen & Toubro on Tuesday said consolidated profit after tax (PAT) rose 20.5 per cent to Rs 1,361 crore in the June quarter compared with Rs 1,129 crore in the same quarter last year.
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IT major Infosys on Friday reported a 5.3 per cent year-on-year rise in profit at Rs 3,802 crore for the June quarter. Sequentially, profit fell 6.8 per cent. Analysts in an ET NOW poll had projected a net of Rs 3,730 crore. The company has increased FY20 revenue growth guidance to 8.5-10 per cent in constant currency, while maintaining FY20 operating margin guidance in range of 21-23 per cent.
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Infosys on Friday reported a 2.21 per cent year-on-year fall in consolidated profit at Rs 4,019 crore for the quarter ended September 30. The IT major had posted a profit of Rs 4,110 crore in the corresponding quarter last year. Analysts in an ET NOW poll had projected a net of Rs 4,040.
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Indian software services exporter Wipro Ltd on Tuesday posted 38 percent rise in fourth-quarter profit, helped by a strong performance from its banking, financial services and insurance segment. Net profit rose to 24.84 billion rupees ($356.54 million) in the three months to March 31, from 18.03 billion rupees in the same period a year earlier, the company said. Wipro also said it will buy back shares worth up to 105 billion rupees. (Text: Reuters)
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Apple Announces Stock Dividend and Buyback Program (AAPL)
Investors and analysts finally do not have to speculate about Apple's surplus of nearly $100 billion in cash. According to the New York Times, the tech giant announced Monday it would pay a stock dividend of $2.65 a share in the fourth quarter. The company board also authorized a $10 billion share buyback program to reward investors.
Apple issued a media alert on Sunday evening saying it planned to announce the long-awaited decision by its board about what to do with the large amount of cash. This allowed everyone from analysts to bloggers to speculate about what they would do with the money. Many on Wall Street called for the company to give some money back it its shareholders. Luckily, the company appeased the masses.
In a statement, Apple CEO, Tim Cook said, 'We have used some of our cash to make great investments in our business through increased research and development, acquisitions, new retail store openings, strategic prepayments and capital expenditures in our supply chain, and building out our infrastructure. You'll see more of all of these in the future.'
Apple halted trading on its stock on Monday. This is the first time the company has paid out a dividend to its shareholders since 1995.
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Hindustan Aeronautics Limited (HAL) is likely to buyback 10 percent of government shares, which will fetch the government exchequer around Rs 4000 crore.
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