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Declares dividend of Rs 21/share; share price ends 2.8% higher at Rs 1,974
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=> Infosys Q2 profit rises 5% to Rs 6,506 crore
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Infosys Q2 profit rises 5% to Rs 6,506 crore
#New Delhi
Infosys Ltd, India’s second-largest IT services exporter, on Thursday reported a near 5% rise in its second quarter net profit and raised revenue guidance for the year on broad based recovery in demand particularly from its key financial industry clients.
Consolidated net profit of Rs 6,506 crore in July-September – the second quarter of current 2024-25 fiscal year – was 4.7% higher than the year-ago earnings and 2.2% more than the net profit in the preceding quarter, according to a company statement.
Importantly, the company, after six consecutive quarters of drop in employee strength, added about 2,500 employees on a net basis in the September quarter. Attrition rate stood at 12.90% versus 12.7% quarter on quarter.
For the full year, Infosys however maintained its margin guidance. It expects EBIT margins for the fiscal to be between 20% and 22%. Revenue from operations increased 5% year on year to Rs 40,986 crore.
Earnings Before Interest and Tax (EBIT) stood at Rs 8,649 crore, up 4.4% sequentially. EBIT margin for the quarter remained flat at 21.1%.
Shares of Infosys ended 2.8% higher on Thursday at Rs 1,974.55, ahead of the results announcement.
Growth in earnings was led by manufacturing, energy and financial services. Growth was projected to be driven by the ramp-up of large deals, increasing traction in generative AI deals, and cost optimisations.
The large deals’ TCV (total contract value) was at USD 2.4 billion.
Infosys declared an interim dividend of Rs 21 per share, and fixed October 29 as the record date and November 8 as the payout date. PTI
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