Infosys Announces ₹9,300 crore share buyback as Q2 net profit Ups 11%


On Thursday, Infosys posted an impressive rise of 11 percent in its consolidated net profits at ₹6,021 crores for the second quarter. It announced its decision to buyback of shares worth ₹9,300 crores.

A dividend of ₹16.50 per share was also declared by the company board. Infosys said in a statement that the interim dividend payout will be about ₹ 6,940 crores.

Sahil Parekh, CEO, and MD of Infosys, mentioned during a briefing, “The Q2 showing was broad-based with all industries and geographies growing in double digits in constant currency.”

India’s second-largest IT services company saw attrition cooling off from 28.4 percent to 27.1 percent in June quarter, thereby easing supply side pressures and ‘operational rigor’ supporting the sequential expansion of margins by 150 basis points.

Sahil added, “While concerns around the economic outlook persist, our demand pipeline is strong as clients remain confident in our ability to deliver the value they seek, both on the growth and efficiency of their businesses. This is reflected in our revised revenue guidance of 15-16 percent for FY23.”