Last Update: April 13, 2023, 4:49 pm IST
FILE PHOTO: An employee walks past a signage board at the Infosys campus in the Electronics City IT district in Bangalore on February 28, 2012. Reuters/Vivek Prakash
Apart from the financial results, the Infosys Board also announced the final dividend today.
Infosys Dividend: India’s IT services major Infosys announced its Q4FY23 financial results on 13 April. Apart from the financial results, the Infosys board also declared a final dividend of Rs 17.50 per share for 2022-23 in its Annual General Meeting.
Infosys reported nearly 8 per cent rise 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.
Consolidated EBIT for the March quarter comes in at Rs 7,877 crore, while consolidated EBIT margin stands at 21 per cent.
According to the tech giant’s quarterly earnings report, Infosys’ net addition of employees in the October to December 2022 period registered a decline of 1,627 per cent from 10,000 in the previous quarter of the fiscal, down 84 per cent. However, its attrition rate has come down to 24.3 per cent from 27.10 per cent in the July to September quarter.
For FY24, the company has guided for sales growth of only 4-7 per cent in constant currency terms, highlighting the challenges overseeing the business in the current year. Operating margin is expected to be in the range of 20-22 per cent.
For FY23, the software major reported a 15.4 per cent growth in revenue in constant currency terms, which was below the lower end of the guided range of 16-16.5 per cent.
Infosys recalled its revenue growth guidance for FY23, but the company managed to meet its operating margin target. Cost optimization and continued focus on operating efficiencies helped the Bengaluru-based IT major report an operating margin of 21 per cent for FY23, which is at the lower end of the guided range of 21-22 per cent.
“As the environment has changed, we see strong interest from our clients for efficiency, cost and consolidation opportunities, resulting in a strong large deal pipeline,” said Salil Parekh, MD and CEO.
“We have expanded our internal program on efficiency and cost to pave the way for higher margins in the medium term. We continue to invest in our people and to support our customers, Parekh said.
In the March quarter, Infosys secured TCV deals worth $2.1 billion, while for FY23, the total deals stood at $9.8 billion.
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