Infosys Dividend 2023 Announced: IT Major Declares Rs 18 Interim Dividend; Record Date Out

Infosys Dividend 2023: Infosys on Thursday (October 12) announced its Q2 FY2023-24 results. The IT major has declared a dividend of Rs 18/equity share. The company’s net profit rose 3.2% YoY to Rs 6,212 Crore.

The company has fixed October 25, 2023 as record date for interim dividend and November 6, 2023 as payout 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”, said Nilanjan Roy, CFO of the company.

“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 added.

The company announced a 3.2% growth in its net profit, reaching Rs 6,212 crore for the second quarter concluding in September 2023.

In the July-September 2023 period, its revenue experienced a 6.7% surge, reaching Rs 38,994 crore, in contrast to the Rs 36,538 crore recorded a year earlier.

Comparatively, Infosys had reported a net profit of Rs 6,021 crore during the corresponding period the previous year.

As per a BSE filing, on a quarterly basis, the company observed a 4.5% increase in net profit and a 2.8% rise in revenue for the September 2023 quarter.

In the last quarterly result (Q1 FY2023-24), the company reported a 10.9 per cent year-on-year jump in its net profit to Rs 5,945 crore, compared with Rs 5,362 crore a year ago. Its revenue during April-June 2023 rose 10 per cent to Rs 37,933 crore, against Rs 34,470 crore in the year-ago period.

On a quarterly basis, Infosys had reported a fall of 3 per cent in its net profit in Q1 FY24.

Infosys’s operating profit during Q1 FY24 rose 14.1 per cent to Rs 7,891 crore, compared with Rs 6,914 crore in the corresponding quarter a year ago. Its total operating expenses stood at Rs 3,660 crore during Q1 FY24, 14.8 per cent higher as compared with Rs 3,187 crore a year ago.

Infosys posted nearly 8 per cent increase in consolidated net profit at Rs 6,128 crore for the quarter ended March 31, 2023. The IT services company had posted a net profit of Rs 5,696 crore in the year-ago period.

While declaring its Q4FY23 financial results on April 13, 2023, Infosys had also announced the final dividend of Rs 17.50/ per share for 2022-23.