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Infosys posts Rs 6,021 crore PAT, announces buyback of shares

Infosys posts Rs 6,021 crore PAT, announces buyback of shares
Photo Credit : IANS

Bengaluru: Software major Infosys Ltd on Thursday said it closed the second quarter of FY23 with a higher consolidated net profit of Rs 6,021 crore.

Approving the accounts, the company Board declared an interim dividend of Rs 16.50 per share.

According to Infosys, it had posted consolidated revenue of Rs 36,538 crore for the period ended September 30, 2022 (Rs29,602 crore -Q2FY22) and a net profit of Rs 6,021 crore (Rs 5,421 crore).

“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,” CEO and MD Salil Parekh was quoted as saying in a statement.

“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 per cent for FY 23,” he added.

“In line with the capital allocation policy, the Board has announced an interim dividend of Rs 16.50 per share, an increase of 10 per cent over FY 22 interim dividend and an open market share buyback of Rs 9,300 crore,” Chief Financial Officer Nilanjan Roy said.

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