Good news for Narayana Murthy, Infosys net profit rises to Rs 6,506 crore

In its July-September quarter results for fiscal 2024-25 (Q2FY25), Infosys reported a 4.7% increase in consolidated net profit to Rs 6,506 crore from Rs 6,212 crore during the same time previous year. The announcement was made on Thursday, October 17. Revenue from operations for the second quarter of the current fiscal year increased 5.1% to Rs 40,958 crore for India's second-largest IT service provider, up from Rs 38,994 crore during the same period last year.

“We had strong growth of 3.1 per cent quarter-on-quarter (QoQ) in constant current in Q2. The growth was broad-based, with good momentum in financial services. This stems from our strength in industry expertise, market-leading capabilities in cloud with Cobalt and generative AI with Topaz, resulting in growing client preference to partner with us”, said Salil Parekh, CEO and Managing Director (MD), Infosys. 

The Indian IT major's July-September revenue posted a healthy growth of 4.2 per cent quarter to quarter reaching at Rs 40,986 crore. Infosys raised its full-term revenue growth guidance to 3.75 - 4.5 per cent, which is up from 3-4 per cent announced in July. 

The company has also declared an interim dividend of Rs 21 per share, with October 29 as the record date and November 8 as the payout date. In FY24, the company had given a final dividend of Rs 20 per share in addition to a special dividend of Rs 8, and an interim dividend of Rs 18. Salil Parekh, CEO and MD of Infosys said the company had shown strong growth of 3.1 per cent quarter-on-quarter.

"The growth was broad-based with good momentum in financial services. This stems from our strength in industry expertise, market-leading capabilities in cloud with Cobalt and generative AI with Topaz, resulting in growing client preference to partner with us," said Parekh.

He further added the company's large deals at USD 2.4 billion in the second quarter reflect its strength and leadership position. "I am grateful to our employees for their unwavering commitment to our client as we further strengthen our market leadership," said Parekh.

Based on the recommendation of the Nomination and Remuneration Committee, the board of Infosys also approved the grant of 22,880 Restricted stock units (RSUs) to six eligible employees under the 2015 Stock Incentive Compensation Plan effective from November 1, 2024. These RSUs will vest over a period of two to four years.

(With inputs from ANI)