Infosys Q2 Results are here now: the second largest software services exporter company, Infosys LTD, on Thursday 12th of October declared a 3.17% year-on-year (YOY) growth in net profit for the quarter ended September to Rs 6,212 crore. Infosys LTD, a Bengaluru-based company has revised its full-year revenue growth projection to 1-2.5 percent, at the upper end of this range in FY24, compared to 1-3.5 percent earlier.
And with the release of its results, Infosys LTD also announced an interim dividend of Rs.18 Per Equity share on October 25.
The revenue growth of Infosys LTD was recorded at nearly 7% YOY to RS.38,994 Crore.
Fact Sheet
Investor Sheet
Infosys Q2 Results Financial services, the vertical contributing the most to overall revenue, saw a YoY fall of 7.3% in constant currency. Revenue in constant currency fell by 4.3% for communications.
However, the retail, manufacturing, and life sciences verticals all recorded constant currency sales growth of 9.4% to 18.4%.
Attrition continued to drop, according to Infosys Q2 Results | Company on a 12-month trailing basis, the attrition rate decreased from 17.3% to 14.6% in the previous quarter.
In the September quarter, the net staff headcount decreased by 7,530 to 3,28,764.
From 78.9% in the June quarter, employee utilization increased to 80.4% in the third quarter.
Q2 Results for Infosys LTD: Declared interim dividend
When announcing its September quarter results, Infosys declared an interim dividend of 18 per equity share. The company set October 25 as the record date and November 6 as the delivery date. “In line with our capital allocation policy, the Board has announced an interim dividend of 18 per share, an increase of 9.1% over last year,” stated Nilanjan Roy, CFO of Infosys.
Infosys LTD Q2 Results: 10.8% increase in the past three months for the stock
The price of Infosys stock increased by 10.80% over the last three months (from $1,348 to $1,494), while the Nifty IT index increased by 11% during the same period. Analysts anticipated a 1.34 percent sequential gain in operating profit, forecasting it to reach $8,089 crore compared to the prior quarter’s $8,982 crore. This was a positive prediction for the company’s operational performance.
Quotes of Infosys leaders on Q2 Results
We had our highest large deals value at $7.7 billion in Q2 spread across all verticals and geographies. This in an uncertain macro-environment, is a testament to our ability to pivot and stay relevant to the evolving client needs, by delivering the benefits of transformation as well as productivity and cost savings at scale. Strong H1 performance with significant large deal wins, builds a solid foundation for the future. The growing adoption of our Generative AI offering, Topaz, is helping us deliver consistent value and expand market share.
– Salil Parekh, CEO and MD, Infosys
Our Q2 operating margin of 21.2% demonstrates the early benefits of the recently unveiled margin improvement plan and is a clear reflection of our ability to continuously identify opportunities for improving operational efficiencies. In line with our capital allocation policy, the Board has announced an interim dividend of ` 18 per share, an increase of 9.1% over last year.
– Nilanjan Roy, CFO, Infosys
Infosys LTD Q2 Results | Key Highlights
- Revenues increased by 2.5% YoY and 2.3% QoQ in CC terms.
- Revenues were reported at Rs. 38,994 crores, up 6.7% year over year.
- Operating margin was 21.2%, down 0.3% year over year and up 0.4% quarter over quarter.
- Basic EPS increased by 4.6% YoY to Rs 15.01
- FCF was Rs 5,536 crore, up 16.5% year over year, and its conversion to net profit was 89.1%.
Infosys Q2 Results: Independent director Nitin Paranjpe appointed
In its regulatory filing to the stock exchanges, Infosys stated that Nitin Paranjpe “has no relationship with any member of the Board of Directors and meets all the criteria for appointment as an independent director under applicable laws including circulars issued by the stock exchanges from time to time.”
