Infosys Q2FY24 result: Net profit rises to Rs 6,212 crore; revenue up 6.7%

Infosys Q2FY24 result: The company also declared an interim dividend of Rs 18 per equity share

IT major Infosys on Thursday reported a jump of 3.32 per cent in its net profit in the quarter that ended on September 30 to Rs 6,212 crore as compared to  Rs 6,021 crore in the same quarter last year. 

The revenue for the quarter came at Rs 38,994 crore, up 6.7 per cent. In the same quarter in the previous year, the revenue was Rs 36,538 crore, the company said in a BSE filing.

Revenues in constant currency terms grew by 2.5 per cent YoY and 2.3 per cent QoQ.

The operating margin for the company in Q2FY 24 was 21 per cent. Its attrition for Q2FY24 was 14.6 per cent, against 27.1 per cent year-on-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. “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.

The company also declared an interim dividend of Rs 18 per equity share. October 25, 2023 has been fixed as record date for interim dividend and November 6, 2023 as payout date.

“Our Q2 operating margin of 21.2% 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”, said Nilanjan Roy, CFO. “In line with our capital allocation policy, the Board has announced an interim dividend of Rs 18 per share, an increase of 9.1% over last year”, he added.