Infosys Q2 Result: Company Reports 11% Consolidated Net Profit in Q2 of This Fiscal Year

New Delhi: India’s second-largest IT services company, Infosys, said on Thursday that its consolidated net profit rose 11.1 percent year-on-year to Rs 6,021 crore for the second quarter of the current fiscal year, compared to Rs 5,421 core recorded in the corresponding period. of the previous year. The company’s revenue increased by 23.4 percent to Rs 36,538 crore for the quarter ended September 30, 2022, compared to Rs 29,602 crore in the corresponding quarter of the previous year. Infosys’ revenue grew 6 percent sequentially, while net profit grew 12.3 percent year-over-year in the quarter under review.

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“Our strong big deal gains and steady overall growth in the second quarter reflect the deep relevance and differentiation of our digital and cloud solutions to customers as they navigate their business transformation,” Infosys chief executive officer and managing director Salil Parekh said in a statement.

“While concerns about the economic outlook persist, our demand pipeline is strong as customers continue to have confidence in our ability to deliver the value they seek, both for the growth and efficiency of their business.

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This is reflected in our revised revenue guidance of 15-16 percent for FY 23,” Parekh said.

Digital comprised 61.8 percent of total revenue and grew 31.2 percent in constant currency. Operating margin for the quarter rose 140 basis points sequentially to 21.5 percent. The TCV of major deals for the quarter was robust at $2.7 billion, its highest in the past 7 quarters. FY23 revenue forecast has been revised to 15-16 percent; The operating margin guideline is also being revised to 21-22 percent.

“Operating margins in the second quarter were up 150 basis points sequentially, helped by our operational rigor. While supply-side challenges are gradually easing, as evidenced by the decreasing churn, they continue to put pressure on our cost structure,” said Nilanjan Roy, Chief Financial Officer. , Infosys.

In accordance with the capital allocation policy, the board of directors has announced an interim dividend of Rs 16.50 per share, a 10 percent increase from the FY 22 interim dividend and a share buyback of Rs 9,300 crore. Roy added. of the directors at the meeting held here on Thursday approved the buyback of treasury shares, from the open market route through the Indian exchanges, amounting to Rs 9,300 crore (maximum redemption fee, excluding redemption tax) at a price of Rs 1,850 per share (maximum redemption price), subject to shareholder approval. The board of directors also approved an interim dividend of Rs 16.50 per share versus FY 22 interim dividend of Rs 15. The total amount of the interim dividend will be approximately Rs 6,940 crore.

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