Business News

Infosys pushes announcing September quarter results to October 24

The information technology major said a meeting of the Board of Directors will be held on October 23 and October 24.

Information technology major Infosys on Tuesday said it was deferring the announcement of its second-quarter results by more than a week, for the first time in recent years. The results of the quarter ending on September 30, 2017 will be the first report since Vishal Sikka quit as the chief executive officer of the company on August 18 and Nandan Nilekani returned as the non-executive chairman on August 24.

Infosys generally announces its quarter results within 15 days of the beginning of the new quarter. In its June quarter filing, Infosys had said it will announce the September quarter report on October 13, 2017.

However, the company on Tuesday said a meeting of the Board of Directors will be held on October 23, 2017 and October 24, 2017, to consider the audited consolidated financial results of the company and its subsidiaries for the quarter ending on September 30, 2017. “Accordingly, the trading window will be closed from September 16, 2017 and will re-open on October 27, 2017,” Infosys said in its regulatory filing.

On September 4, Infosys’ promoters had offered to sell 1.77 crore shares worth Rs 2,083 crore as part of the company’s Rs 13,000-crore buyback offer.

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