Infosys Q2 result profit rises 11% YoY to Rs 6,021 cr
Published On: Thursday, October 13, 2022 | By: Team KnowMyStock
IT primary Infosys Ltd on Thursday reported an 11% jump in consolidated net profit at Rs 6,021 crore for the quarter ending September 30, 2022, up 11.1 percent from Rs 5,421 core reported in the same quarter of the previous year. It reported a 23.4 percent YoY jump in consolidated revenue for the September quarter to Rs 36,538 crore as against Rs 29,602 crore in Q2FY22. Numbers were in-line with projections. A poll of analysts had projected a 24 percent year-on-year (YoY) growth in revenue and 11 percent in net profit. Infosys has also announced a share buyback worth Rs 9,300 crore. Under the buyback program, the price will not exceed Rs 1,850 per equity share. The price is 30% higher than the company shares' closing price of Rs 1,422 apiece on Thursday. The IT major will also pay an interim dividend totaling Rs 6,940 crore to the shareholders at Rs 16.5 per equity share.
“Our strong large deal wins and steady all-round growth in Q2 reflect the deep relevance and differentiation of our digital and cloud solutions for clients as they navigate their business transformation”, said Salil Parekh, CEO and MD. “While concerns around the economic outlook persist, our demand pipeline is strong as clients remain confident in our ability to deliver the value they seek, both on the growth and efficiency of their businesses. This is reflected in our revised revenue guidance of 15%-16% for FY23," he added.
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
