Infosys's Q4 profit surges 30% to ₹7,969 crore
What's the story
Infosys has announced a substantial 30% increase in its consolidated profit for the fourth quarter ending March 2024. The profit rose to ₹7,969 crore from ₹6,128 crore during the same period last year. Additionally, the company's consolidated revenue saw a modest growth of 1.3%, reaching ₹37,923 crore from ₹37,441 crore in the corresponding quarter of the previous year. Infosys has also revealed plans to acquire 100% stake in German firm In-Tech. The all-cash deal is valued at €450 million.
Annual growth
Infosys records 8.9% rise in net profit for FY24
For the full financial year 2024, Infosys reported an 8.9% increase in net profit, amounting to ₹26,233 crore from ₹24,095 crore in FY23. The company's annual income from operations also experienced a 4.7% growth to ₹1,53,670 crore from ₹1,46,767 crore a year ago. "Our capabilities in Generative AI continue to expand. We are working on client programs, leveraging large language models with impact across software engineering, process optimization, and customer support," said Salil Parekh, CEO and MD, Infosys.
Future projections
Infosys forecasts FY25 growth, reports lower attrition rates
Infosys board announced a final dividend of ₹20 per equity share for FY24 and additionally a special dividend of ₹8 per equity share. Looking ahead to FY25, Infosys expects a revenue growth of 1-3% in constant currency terms and an operating margin of 20-22%. The company also reported a steady decrease in attrition rates over the past year, dropping from 20.90% in Q4FY23 to 12.6% in the recent results. This indicates a positive trend towards employee retention within the company.