Infosys Share dividend: Infosys’ consolidated net profit in the first quarter of the current financial year rose by 11 percent to Rs 5,945 crore from Rs 5,362 crore in the year-ago period.
Infosys Share Price: The country’s leading IT company Infosys has also released the results of the first quarter. Infosys’ consolidated net profit in the first quarter of the current financial year rose 11 per cent to Rs 5,945 crore from Rs 5,362 crore in the year-ago period. However, Infosys has cut its growth forecast for the current financial year 2023-24 from one to 3.5 per cent amid macroeconomic uncertainties. Earlier it had projected a four to seven per cent increase in revenue growth.
Company’s income increased by 10 percent
Let us tell you that in the April-June quarter, the company’s income increased by 10 percent to Rs 37,933 crore, which was Rs 34,470 crore in the same quarter of the previous financial year. Compared to the January-March quarter, the company’s net profit decreased by three percent in the last quarter, while the revenue registered a quarter-on-quarter increase of 1.31 percent.
Infosys CEO gave information
Salil Parekh said, “We signed some big deals in the first quarter but there is a delay in signing and execution of deals.” He said that due to this delay, the revenue from these big deals would come only in the second half of the financial year.
“The first quarter saw a reduction in the number of transformative projects with clients in certain areas, as well as delayed decision making. However, we saw good progress in terms of generative AI and large deals,” Parekh told reporters on the quarterly results.
Deals worth $ 2.3 billion
Infosys signed deals worth $ 2.3 billion in the first quarter of the current financial year, which will help create a strong base for future growth. Apart from this, the company got 80 projects in the field of artificial intelligence.
The company has decided to give a dividend of Rs 17.50
Infosys has also announced a final dividend of Rs 17.50 to its shareholders. This proposal was approved in the general body meeting on 28 June. At the same time, last week other IT companies TCS, HCL Technologies, Wipro and LTImindtree also announced the results of the first quarter.
