Bengaluru, Apr 13: IT company, Infosys has announced plans to return Rs 13,000 cr to the shareholders after it incurred profit in March. It has also appointed Ravi Venkatasan to address the founders’ corporate governance concerns. Further, Infosys has decided to pay 70 per cent of the annual fee as a dividend as compared to the previous policy. The January- March Infosys reported a 0.2 per percent rise in consolidated net profit at Rs. 3,603 crore while revenue grew 3.4 per cent to Rs. 17,120 crore.The stock fell over 3 per cent to Rs. 935.05 in the afternoon trade. The Infosys CEO, Vishal SIKKA said that unanticipated execution challenges and distraction do affect their overall performance. He also added that it is imperative to resilience to the dynamic of the environment and to remain resolute in executing their strategy proves a path to transform Infosys and drive long term value for the stakeholders. Infosys follows Cognizant and Tata Consultancy services in announcing share buy back. Infosys CFO, MD Ranganath said that the company is focused on efficiency and margins, he also said that the capital allocation policy says it will be upto Rs.13,000 crore and that will take away the needs of the next couple of years which will leave about $4 million billion on it’s balance sheet. 601 employees have been added to the company and attrition stands at 17.1 per cent.
