Infosys Q2 net profit rises over 3% to Rs. 6,212cr
What's the story
Infosys announced its Q2 financial results on Thursday, showing a 3.17% year-on-year (YoY) increase in net profit to Rs. 6,212 crore, up from Rs. 6,021 crore in the same quarter previous year. The firm's revenue also grew by 6.7% during the July-September period, reaching Rs. 38,994 crore compared to Rs. 36,538 crore in the corresponding quarter of the previous fiscal year.
Details
Interim dividend declared, key dates announced
Infosys also declared an interim dividend of Rs. 18 (360%) of the face value of Rs. 5 per equity share. The record date for this interim dividend is set for October 25, and the ex-date is scheduled for November 6. Shareholders will receive their dividends based on their holdings as of the record date.
What Next?
Infosys shares dip following Q2 results
Infosys's financial performance for this July-September quarter was positive but market participants took a bearish stance, which resulted in a 1.93% drop in the stock price. The stock closed down at Rs. 1,465.50 on the National Stock Exchange (NSE) on Thursday.
Insights
Operating margins and order book
The operating margin was 21.2%, a sequential rise of 40 basis points. Infosys has retained operating margin guidance at 20-22%, as per the company's statement. "We had our highest large deals value at Rs. 58,262 crore in Q2 spread across all verticals and geographies. This, in an uncertain macro-environment, is a testament to our ability to pivot and stay relevant to the evolving client needs," said Salil Parekh, CEO and MD of Infosys.