Infosys announces results for its fourth quarter and year ended March 31, 2020 on Monday, April 20, 2020.
37.8% growth in digital portfolio leads to strong 9.8% growth in FY 20
Bengaluru, India –April20,2020
“I am proud of the Infosys team that has worked exceptionally well to achieve 93% remote working today and ensuring consistent service delivery for our clients in this rapidly changing environment. Our focus on the health of our employees and our commitment to our clients helped us navigate the past few weeks,” said Salil Parekh, CEO and MD. “We had an exceptional year in financial year 2020 with growth of 9.8% and operating margin of 21.3%. While the immediate short-term will be challenging, looking ahead,we can see that there is a strong interest to consolidate with partners with high-quality and agile service delivery and strong financial resilience. I am confident we will emerge from this stronger.
“We completed a satisfying year on multiple counts –growth in all verticals and geographies, significant increase in large deal wins, good client mining and operational discipline”, said Pravin Rao, COO. “The impact caused by COVID-19 since last few weeks of March has led to significant displacement in the operating model while severely testing business continuity plans of companies. We demonstrated what a ‘Live Enterprise’ truly is by improving the infrastructure and technology enablement for our employees in a short time span and ensuring business continuity for clients.”“We continue to remain focused on execution excellence in a period of high uncertainty. Our relentless focus on liquidity will be supported by our strong Balance Sheet of $3.6 billion cash, backed by accelerated cost take-outs and operational rigor”, said Nilanjan Roy, CFO.“The final dividend of `9.50 per share is a testimony of a strong free cash flow performance for FY 20.
