Rama Krishna Sangem
In a good news for software sector, IT major Infosys, on April 18, Thursday, reported a consolidated net profit increase of 30 per cent to Rs 7,969 crore for the quarter of January-March in the financial year 2024 (Q4FY24), compared to Rs 6,128 crore reported during the same period last year.
The consolidated revenue went up 1.3 per cent to Rs 37,923 crore, compared to Rs 37,441 crore reported during Q4FY23.
The company expects revenue to grow by 1-3 per cent in constant currency for the financial year 2025 (FY25). For FY24, Infosys reported a net profit increase of 8.9 per cent to Rs 26,233 crore from Rs 24,095 crore recorded at the end of FY23.
Annual income from operations went up by 4.7 per cent to Rs 1,53,670 crore in FY24 from Rs 1,46,767 crore in FY23. Infosys’ board recommended a final dividend of Rs 20 per equity share for FY24 and a special dividend of Rs 8 per equity share.
“Effective from the financial year 2025, the company expects to continue its policy of returning approximately 85 per cent of the free cash flow cumulatively over a 5-year period through a combination of semi-annual dividends and/or share buyback/special dividends, subject to applicable laws and requisite approvals, if any,” Infosys said.
The company also announced the acquisition of the German firm in-tech in an all-cash deal for 450 million euros. Shares of Infosys on Thursday closed at Rs 1,420.55 apiece on the Bombay Stock Exchange ahead of its Q4FY24 results. The Q4 results of Infosys indicate a revived growth path on the part of India software giants. This trend is likely to continue in the first quarter of 2025 too.
