India’s Infosys posts subdued Q4 growth

Mumbai: Indian software giant Infosys pledged on 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. Net profit in the three months to March 31 came in at 36.03 billion rupees ($557.01 million), only marginally above the 36 billion rupees it reported in the same period last year. — AFP