Infosys Q2 Results: Net profit at ₹6,212 crore, revenue grows 7%

Infosys declares interim dividend of ₹18 per share, revises full-year revenue growth forecast.

Published on: Oct 12, 2023, 16:11:08 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

Infosys Ltd, the second-largest software services exporter, announced its quarterly results for the period ending in September. The company reported a net profit of ₹6,212 crore, accompanied by a 7 per cent increase in revenue. Additionally, Infosys declared an interim dividend of ₹18 per share, representing a 9.1 per cent increase compared to the previous year.

“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”, said Salil Parekh, CEO and MD.

Infosys has revised its full-year revenue growth forecast, now expecting it to range from 1 per cent to 2.5 per cent on a constant currency basis. This update is a slight adjustment from its previous estimate of 1 per cent to 3.5 per cent. The IT company has retained its operating margin guidance in the range of 20 per cent to 22 per cent.

Nitin Paranjpe, the non-executive chairperson of Hindustan Unilever Limited is appointed as an independent director of Infosys.

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

Ahead of the Q2 results, shares of Infosys settled 1.95 per cent lower at ₹1,464.55 apiece on the Bombay Stock Exchange.

On Wednesday, Tata Consultancy Services released its quarterly profit figures, which fell just short of expectations. The company stated that its customers are currently prioritising cash preservation in anticipation of a challenging future. TCS also noted that businesses are delaying projects both in the United States and abroad due to an uncertain economic outlook.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Infosys

Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator