Accenture returned substantial part of existing cash and also, if I am right, they returned around 90 per cent of free cash flow to shareholders every year. So, I don39;t want to read too much into it.Hyderabad: A former CFO of Infosys today said the company39;s decision to return Rs 13,000 crore to shareholders is "too little" and appointing a glass rotameters k 5013 series co-Chairman would make the structure much more complex at board level. So, progressively Infosys should move towards this.Former chief financial officer of Infosys, V Balakrishnan."And I think it39;s too top heavy.
"I think it39;s a good step forward but the quantum could have been bigger because they have Rs 40,000 crore on their balance sheet. The country39;s second-biggest software exporter today announced plans to return Rs 13,000 crore from its cash pile to shareholders after it reported an almost flat net profit in the March quarter and sales outlook that fell short of estimates.The Bengaluru-headquartered, NASDAQ-listed company said it would begin to pay 70 per cent of annual free cash flow as dividend compared to a previous policy of sharing up to half its post-tax profit. Returning Rs 13,000 crore is too little," former Chief Financial Officer V Balakrishnan told PTI in a telephonic interview. And guidance also looks muted.
Ex-CFO says quantum could have been bigger because Infosys has Rs 40,000 crore on their balance sheet. "Whole year (2016-17), they have not met numbers in any of the quarters."end-ofTags: infosys, infosys former cfo, v balakrishnan, vishal sikka, infosys profits, share buyback, murthyLocation: India, Telangana, HyderabadRelated StoriesInfosys down 4 per cent; m-cap plunges by Rs 8,589 crInfosys co-founder Murthy backs no 'friction' in businessesMarkets feel Infosys heat, Sensex falls 182 pointsInfosys plans Rs 13,000 cr payout via buyback, dividendInfosys names Ravi Venkatesan as Co-ChairmanExecution challenges, distractions affected overall Infosys performance: Vishal SikkaInfosys shares slip after Murthy slams COO's pay hikeCompensation hike to Infosys COO not proper: MurthyNo more Rajiv Bansal-like situation: Infosys chairman. I think the performance is very challenging.