Infosys Results: What Went Wrong
Software giant Infosys pledged Thursday to return $2 billion to shareholders this year as it reported subdued growth in profits for the fourth quarter. The company said it would raise dividends and share buy-backs, with its stock price under pressure due to cuts in businesses' IT budgets and worries over a US visa crackdown under President Donald Trump. It also appointed independent director Ravi Venkatesan as co-chairman of the board. Net profit in the three months to March 31 came in at Rs. 3,603 crore, only marginally above the Rs. 3,600 crore it reported in the same period last year.
