Infosys Q4 Triumph: Surpasses Estimates with Rs 7,969 Crore Profit, Declares Rs 28 Dividend
Infosys announced its fiscal fourth-quarter results, reporting a net profit of Rs 7,969 crore. This surpassed analysts’ expectations.
The company disclosed revenue of Rs 37,923 crore for the three months ended March 31, as per its exchange filing on April 18.
Analysts had forecasted a profit of Rs 6,128 crore on revenue of Rs 38,413 crore, based on an average of 13 brokerage estimates.
Ahead of the quarterly earnings report, Infosys stock saw a 0.34 percent increase, closing at Rs 1,419.25.
In addition to the strong financial performance, Infosys declared a final dividend of Rs 20 per equity share along with a one-time dividend of Rs 8 per share.
Infosys disclosed a 2.1% decline in US Dollar revenue in constant currency terms, which was below the 0.3% decline forecasted. Sequentially, the company’s revenue decreased by 2.2% in constant currency terms, surpassing the projected 0.5% decline from the analyst survey.
The company reported US Dollar revenue of $4,564 million, contrasting with the street expectation of $4,650 million.
This marks the second consecutive quarterly revenue decline for Infosys, following a 1% drop in the December quarter.
Earlier, Infosys had announced a dividend of ₹35.5 per share, bringing the total dividend for FY24 to ₹63.5 per share.
The company has set the record date for the payment of final and special dividends as May 31, 2024. These dividends will be disbursed on July 1, 2024, according to a filing by the company.
Additionally, the company revealed its acquisition of In-Tech Holding GmbH, a provider of engineering, research, and development (ER&D) services.
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