Highlight
- IT major will also pay an interim dividend of Rs 6,940 crore to the shareholders
- India’s second largest IT services company net profit stood at Rs 5,421 crore
- Infosys also announced share buyback worth Rs 9,300 crore
Infosys on Thursday reported 11 per cent year-on-year growth in consolidated net profit at Rs 6,021 crore for the September quarter and also announced a share buyback program of Rs 9,300 crore.
The IT major will also pay an interim dividend of Rs 6,940 crore to the shareholders.
India’s second largest IT services company had a net profit of Rs 5,421 crore in the same period a year ago.
According to a regulatory filing, revenue grew 23.4 per cent year-on-year to Rs 36,538 crore in the second quarter of the current fiscal. It was Rs 29,602 crore in the same period a year ago.
Infosys has also announced share buyback worth Rs 9,300 crore. The price under the buyback program will not exceed Rs 1,850 per equity share.
The price is 30 per cent higher than the company’s closing price of Rs 1,419.7 on Thursday.
The company revised its FY13 revenue guidance to 15-16 per cent, up from the earlier estimate of 14-16 per cent.
The operating margin guidance has been revised to 21-22 per cent, the company said in a statement.
Salil Parekh, CEO and MD, Infosys said, “Our strong big deal wins and steady all-round growth in Q2 reflect the deep relevance and differentiation of our digital and cloud solutions for customers as they navigate their business transformation. “
While concerns remain about the economic outlook, he said the demand pipeline is strong “as customers remain confident in our ability to deliver the value they want on both the growth and efficiency of their business”.
“This is reflected in our revised revenue guidance of 15-16 per cent for FY23,” Parekh said.
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