Infosys Announces Dividend for 2023: IT giant announces Rs 18 interim dividend; record date is available

On Thursday, October 12, Infosys released its Q2 FY2023–24 results. The big IT company has announced a dividend of Rs. 18 per equity share. The business’s net profit increased 3.2% year over year to Rs 6,212 Crore.

The corporation has set October 25, 2023 as the interim dividend record date and November 6, 2023 as the interim dividend distribution date.

“Our Q2 operating margin of 21.2% demonstrates the early benefits of recently unveiled margin improvement plan and is a clear reflection of our ability to continuously identify opportunities for improving operational efficiencies”, stated Nilanjan Roy, the company’s CFO.

“In line with our capital allocation policy, the Board has announced an interim dividend of Rs 18 per share, an increase of 9.1% over last year”, he said.

The firm reported a 3.2% increase in net profit for the second quarter ending in September 2023, coming in at Rs 6,212 crore.

Compared to the same time a year before, its revenue increased 6.7%, to Rs 38,994 crore, during the July–September 2023 period.

In contrast, Infosys posted a net profit of Rs 6,021 crore for the same period the year before.

According to a BSE report, the business had a quarterly gain in net profit of 4.5% and an increase in sales of 2.8% for the quarter ending in September 2023.

In its most recent quarterly report (Q1 FY2023-24), the firm recorded a 10.9% increase in net profit over the same period previous year, rising to Rs 5,945 crore from Rs 5,362 crore. In comparison to April through June of the previous year, its income increased 10% to Rs 37,933 crore from Rs 34,470 crore.

In Q1 FY24, Infosys reported a 3% decline in its net profit on a quarterly basis.

In Q1 FY24, Infosys’ operational profit increased 14.1% to Rs 7,891 crore from Rs 6,914 crore in the same period the previous year. Its total operating costs for the first quarter of FY24 were Rs 3,660 crore, up 14.8% from Rs 3,187 crore the previous quarter.

For the quarter ended March 31, 2023, Infosys reported a roughly 8% rise in consolidated net profit at Rs 6,128 crore. In the same time last year, the IT services provider reported a net profit of Rs 5,696 crore.

On April 13, 2023, Infosys declared the final dividend of Rs 17.50 per share for 2022–2023 along with its Q4FY23 financial results.