Infosys posts whopping 20.55% rise in profits

IT major Infosys on Wednesday reported a 20.55 per cent increase in its consolidated net profit for the July-September quarter, on a year-on-year basis, at Rs 4,845 crore.

During the corresponding period of the last financial year, Infosys had reported a consolidated net profit of Rs 4,019 crore.

The company’s total revenue from operations stood at Rs 24,570 crore, 8.58 per cent higher than Rs 22,629 crore earned in the year-ago period, it said in a regulatory filing.

It has revised the FY21 revenue growth guidance upward to 2-3 per cent in constant currency.

Infosys CEO Salil Parekh (Photo: IANS)

The IT major has declared an interim dividend of Rs 12 per equity share and fixed October 26, 2020 as record date for interim dividend and November 11, 2020 as the payment date.

“Our second quarter performance is a clear reflection of our ability to help clients on their digital transformation journeys. Our digital and cloud capabilities combined with intense client relevance are helping us achieve differentiated results in the market as is visible in 2.2% year on year overall revenue growth and 25.4% growth from digital offerings, which now are at 47.3% of revenues”, said Salil Parekh, CEO and MD.

On Wednesday, its shares on the BSE closed at Rs 1,136.10, lower by Rs 21.90 or 1.89 per cent from its previous close.

Also Read: IMF Foresees Steep Fall And Rise For India’s GDP

Also Read: India Set To Be A Top Investment Choice: Survey