The 5-Month-Old Grandson of Narayana Murthy Will Receive A Rs 4.2 Crore Infosys Dividend

Ekagrah Rohan Murty, the five-month-old grandson of Infosys founder NR Narayana Murthy, is expected to get Rs 4.2 crore after the IT giant declared a special and final dividend on April 18.

Infosys announced a total dividend of Rs 28 on Thursday, along with the company’s Q4 financial results. This includes a final dividend of Rs 20 and a special dividend of Rs 8.

The distribution of the final dividend and special dividend is scheduled for July 1, with the record date set for May 31.

Narayana Murthy gave Ekagrah shares valued at more than Rs 240 crore last month.

15 lakh shares, or 0.04% of the second-largest information technology services firm in India, were purchased by Ekagrah. With the total payout of Rs 28, Ekagrah would get Rs 4.2 crore.

Murthy’s stake in Infosys dropped from 0.40 percent to 0.36% after this transaction, or more than 1.51 crore shares. The acquisition was made “off-market.” However, since he received the shares as a gift, they have lost around Rs 200 each, meaning that Ekagrah’s total worth of Infosys shares has decreased by Rs 30 crore. At 11:15 a.m. on April 19, Infosys’ stock was down 1.2% at Rs 1,402.4 a share.

Following the birth of a newborn boy in November 2023 by their son Rohan Murty and his wife Aparna Krishnan, Murthy and his wife, novelist and philanthropist Sudha Murty, became grandparents. The baby is the third grandchild of the Murthys, who are also the grandparents of First Lady Akshata Murty of the United Kingdom’s two children.

On April 18, Infosys reported a 30% year-over-year increase in net profit for the fourth quarter that concluded in March 2024, amounting to Rs 7,969 crore. However, compared to Rs 37,441 crore in the previous year, its sales from January to March 2024 increased by only 1.3% YoY to Rs 37,923 crore.

The net profit of Infosys was Rs 6,128 crore during the same quarter of the previous year.

Comparing the March 2024 quarter to the December 2023 quarter, Infosys’ revenue decreased 2.3% year over year to Rs 37,923 crore from Rs 38,821 crore. Its net profit increased consecutively by 30.5%.