Net profit of Infosys jumps 30 pc in fourth quarter
Apr 18, 2024
New Delhi [India], April 18 : The IT sector major Infosys reported a revenue growth of 1.3 per cent year-on-year (YoY) in the fourth quarter of just concluded financial year 2023-24, with revenues reaching Rs 37,923 crore.
Moreover, the net profit of Infosys surged by 30 per cent YoY to Rs 7,969 crore, the company informed stock exchanges in its quarterly earning data released on Thursday.
Infosys also projected a growth trajectory for the fiscal year 2024-25 in a range of 1 to 3 per cent.
The company also announced the acquisition approval of in-tech Holding GmbH, a prominent player in Engineering R&D services.
"We delivered the highest ever large deal value in the financial year 2024. This reflects the strong trust clients have in us. Our capabilities in Generative AI continue to expand. We are working on client programs, leveraging large language models with impact across software engineering, process optimization, and customer support, said Salil Parekh, CEO and MD.
He further added "I would like to thank our 317,000 employees across the world that are working to create value for our clients."
Furthermore, Infosys declared a dividend of Rs 28 per share, comprising a regular dividend of Rs 20 per equity share for the financial year ended March 31, 2024, along with an additional special dividend of Rs8 per equity share.
A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings.
The company also announced that its next 43rd Annual General Meeting of the Members of the Company will be held on Wednesday, June 26, 2024.
Infosys is a digital services and consulting company. With a workforce of more than 3,00,000, the IT firm has clients in more than 56 countries.
The shares of Infosys closed more than percent higher at Rs 1,429.50 on Thursday's trading session before the announcement of Quarter 4 results by the company. In the last one year the company share has gained more than 16 percent on NSE.
