Infosys Q2 Result: Net Profit Rises 3 Per Cent To Rs 6,215 Crore; Revenue Up 6.7 Per Cent

Infosys has declared an interim dividend of Rs 18 per equity share carrying a face value of Rs 5 each

Infosys' FY24 revenue guidance has been revised to 1-2.5 per cent against 1-3.5 per cent given earlier, while operating margin guidance retained at 20-22 per cent.

Source : Getty

Infosys, India's second-largest IT services firm, on Thursday logged a 3.1 per cent year-on-year (YoY) rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period.

Infosys, which competes in the IT services market with TCS, Wipro, HCL Technologies, and others, saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.

Infosys CEO and MD Salil Parekh said, "We had our highest large deals value at $7.7 billion in Q2 spread across all verticals and geographies. This, in an uncertain macro-environment, is a testament to our ability to pivot and stay relevant to the evolving client needs, by delivering the benefits of transformation as well as productivity and cost savings at scale."

Its FY24 revenue guidance has been revised to 1-2.5 per cent against 1-3.5 per cent given earlier, while operating margin guidance retained at 20-22 per cent.

"Strong H1 performance with significant large deal wins, builds a solid foundation for the future. The growing adoption of our Generative AI offering, Topaz, is helping us deliver consistent value and expand market share," he added.

Nilanjan Roy, CFO at TCS, said, "Our Q2 operating margin of 21.2 per cent demonstrates the early benefits of recently unveiled margin improvement plan and is a clear reflection of our ability to continuously identify opportunities for improving operational efficiencies. In line with our capital allocation policy, the Board has announced an interim dividend of Rs 18 per share, an increase of 9.1 per cent over last year."

Infosys has declared an interim dividend of Rs 18 per equity share carrying a face value of Rs 5 each. It has fixed October 25, 2023, as the record date for the interim dividend and November 6, 2023, as the payout date. 

Shares of Infosys closed at Rs 1,464.55 apiece, down 1.95 per cent on the BSE on Thursday.